Iron ore prices fell on Monday June 7, following the downtrend in steel prices amid weak steel demand during the rainy season in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.42 per tonne, down $4.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $204.18 per tonne, down $5.02 per tonne58% Fe fines high-grade premium, cfr Qingdao: $176.99 per tonne, down $4.41 per tonne65% Fe B...Read More
China imported 89.79 million tonnes of iron ore in May, up by 3.17% from 87.03 million tonnes a year earlier, according to Chinese customs data released on Monday June 7. Last month's volumes were down by 8.91% from the 98.57 million tonnes of iron ore that China imported in April. Iron ore prices were highly volatile in May. Fastmarkets' price index for iron ore 62% Fe fines, cfr Qingdao...Read More
China's domestic hot-rolled coil prices tumbled on Monday June 7, the first working day of the week, following the release of data showing a big drop in exports in May.DomesticEastern China (Shanghai): 5,500-5,510 yuan ($859-861) per tonne, down by 80-120 yuan per tonne.The latest customs data shows that the country's steel exports fell by a third last month in comparison with April, following the...Read More
Seaborne manganese ore prices jumped by as much as 12% during the week to Friday June 4 after miners hiked offers amid rising freight costs, a stronger South African rand and strength downstream.Fastmarkets' manganese ore 44% Mn, cif Tianjin jumped by 58 cents (12.30%) to $5.29 per dry metric tonne (dmtu) on Friday, from $4.71 per dmtu a week prior.Fastmarkets' manganese ore index 37% Mn, cif Tian...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Belgian battery-materials manufacturer Umicore has appointed Mathias Miedreich chief executive officer to succeed Marc Grynberg, with the appointment to take effect in the fourth quarter of 2021, the company said on Monday June 7.Grynberg and Miedreich will work together to achieve a smooth transition, the company said.Miedreich has worked at Faurecia, a global automotive supplier with a strong fo...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese steel scrap prices were supported by firm downstream steel prices earlier this year, but they fell sharply over the second half of May. The drop in scrap prices in the latter half of the month came after authorities signalled a wish to cool down commodity prices, including those for steel and steelmaking raw material...Read More
Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday's worse-than-expected US employment report ran out of steam.China's imports climbed 51% and exports were up 28% year on year in May.The US Dollar Index weakened after Friday's disappointing employment report in the United States.Base metalsLME three-month base metals pri...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
China's nickel sulfate price widened upward amid a continuous shortage of mixed hydroxide precipitate (MHP) in the week to Friday June 4 although the availability of alternative raw materials continues to restrain the price rise, sources told Fastmarkets. Fastmarkets assessed the nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 33,000-34,000 yuan ($5,154-5,311) per tonne on F...Read More
Key data from the Friday June 4 pricing session in China.Key drivers China's cobalt metal price rose amid strength in the local futures market; downstream buying activity also picked up slightly with some buyers placing several orders due to concerns of further price increases. The Chinese cobalt tetroxide price was unchanged with...Read More
The export market for steel billet originating from the Commonwealth of Independent States was quiet on Monday June 7 with no trading reported due to an offer-bid mismatch. Billet offers from CIS producers were heard in the range of $650-670 per tonne fob on Monday, little changed compared with the end of last week. No buying activity was reported for these offer prices. Small tonnages of billet f...Read More
The Indian silico-manganese export price moved up for the fourth week in a row on Friday June 4, extending its longer-term rally since February 12 on renewed steelmaker demand and tight availability. Fastmarkets assessed the silico-manganese, 65% Mn min, min 16% Si, fob India price at $1,400-1,430 per tonne on Friday, up by about 3.3% from $1,360-1,380 per tonne week on week. The price is at...Read More
ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Steel re-rollers in Tangshan's Fengrun district have been asked to cut their production from June 4-13 in an attempt to control air quality, sources said.But some re-rollers have already resumed their production, other market participants told Fastmarkets.One weather forecast website shows that the Fengrun area should experience heavy air pollution in the coming week, Fastmarkets heard.Gao Jianmin...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
Domestic hot-rolled coil prices in Europe were fairly stable on Monday June 7, with the bullish mood cooling, sources told Fastmarkets.While shortages are likely to remain a problem for buyers throughout 2021, end users have started to resist further price increases, sources said. After continuously raising prices through April and May, mills have kept their official offers unchanged and will cont...Read More