Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
World manganese ore production will increase by 7.60 million tonnes (13%) in 2021, reflecting a post-pandemic recovery in production and new mining projects mainly in Africa and Australia, according to Eva Yang, China representative at the International Manganese Institute (IMnI). Speaking at the International Ferro-alloys and Mineral Products Summit held by Ferroalloy.net on Friday June 18, Yang...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 18, despite a trading slowdown that resulted from both buyers and sellers holding back from deals.Only a few mills were active in the market and they only had limited volumes on offer, so buyers who needed to re-stock specific material had to accept the higher prices available, sources said.Buyers, in the meantime,...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Buyers are accepting higher prices for hot-rolled coil from European mills, but the number of offers and traded volumes remain limited, sources told Fastmarkets on Monday June 21.German and other Northern European producers were reportedly holding back from making new offers because their order books are good and they prefer to take their time before providing new prices to buyers. The region's st...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Iron ore prices fell across the board on Monday June 21 because limited demand for steel weakened sentiment for the steelmaking raw material, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $208.15 per tonne, down $10.75 per tonne 62% Fe low-alumina fines, cfr Qingdao: $210.00 per tonne, down $10.24 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $175.53 per tonne, do...Read More
Singapore's DBS has commenced trading as a Category 4 member on the London Metal Exchange, the bank said on Monday June 21.It is the first bank in Asia to have a remote membership with the LME outside of London, it said."With the new membership, DBS' corporate clients in Singapore, China, India, Indonesia, Korea and Hong Kong will have access to a comprehensive suite of hedging and financial solut...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
The domestic market for flat steel in Russia's Central Federal District around Moscow was largely stable in the week to Monday June 21, with most sources expecting either a rollover or even a downward correction in the short term, Fastmarkets heard.Buying activity in the region slowed, partially affected by a weaker export market and unclear sentiment.A new spike in the numbers of Covid-19 cases i...Read More
The refined zinc and lead markets were in relative balance over January to April, with both metals notching small surpluses, the International Lead and Zinc Study Group (ILZSG) said on June 21.Supply exceeded demand for refined zinc by 31,000 tonnes in the first four months of 2021, while lead's surplus...Read More
Russian based mining company Norilsk Nickel (Nornickel) will begin to ship the first batches of carbon-neutral nickel to customers in the coming weeks, the company said on Monday June 21.The company announced that they are taking steps to mitigate their carbon footprint, which includes efforts to cut CO2 emissions across the whole production chain as well as upgrading and investing in energy moder...Read More
Lundin Mining has cut its expectation for copper produced at its Candalaria mine in Chile by 13.8%, and output may be affected for years to come, the company said on June 21.Candalaria's copper output will be 150,000-155,000 tonnes in 2021, down from a previous forecast of 172,000-182,000 tonnes, the company said. At 85,000-90,000 ounces, gold production will be down by 10.3%.Taking the high-end o...Read More
Nickel was the only metal to show a slight increase in morning trading on the London Metal Exchange on Monday June 21, with all other base metals prices continuing to decline.Nickel's price was$17,285 per tonne at 9am on Monday, up 0.8% from Friday's closing price of$17,154 per tonne.On Friday, however, the nickel price was down 7.2% from last Monday's close of $18,480 per tonne, with only co...Read More
The price of nickel sulfate in China widened downward in the week to Friday June 18, amid falling nickel prices on the London Metal Exchange, leaving market sentiment cautious, sources told Fastmarkets.Fastmarkets' price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, was 33,000-34,000 yuan ($5,102-5,256) per tonne on June 18, down by 500 yuan per tonne (0.7%) from 3...Read More
Special bar quality (SBQ) steel prices increased in the United States in June on higher mill base prices and increased surcharges while some mills continued to sell forward production for a number of SBQ products to the end of the year, according to market participants.Fastmarkets' assessment for steel bar hot-rolled special bar quality 1-inch round 1000 series (carbon), fob mill US was at $61.50...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow remained firm in the week to June 21 with good demand from construction, sources told Fastmarkets.July rebar offers to traders from local mills ranged from 69,500-71,000 roubles ($954-975) per tonne cpt in the week to June 21, largely unchanged from June offers, sources said.Tula Steel...Read More