Key data from Fastmarkets' pricing sessions in Europe, the United States and China on Friday May 28.China The China ferro-silicon price narrowed downward slightly following a correction of the previous price rally, but the general sentiment remained positive amid Ningxia's production cuts related to the dual control of energy consumption, with suppliers' offers broadly holding firm. The China ferr...Read More
Prices for inter-merchant light iron scrap in the UK were steady over the week ended Friday May 28, consolidating firm gains from the previous week that hit a nine-year peak, with increases possible in talks due next week between suppliers and steel mills, trade sources have told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK,...Read More
Brazilian steel slab export prices fell slightly week on week on Friday May 28 amid a pause in negotiations for shipments to the United States and lower indications for other regions.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $970-990 per tonne on Friday, widening downward from $980-990 per tonne on May 21.With July-shipment deals to the US done in the previous w...Read More
A rise in Chinese ferrous prices has reduced the number of billet cargoes offered into Asian markets on Friday May 28.Comments by the Chinese government made in an attempt to cool commodity prices led to falls in ferrous contracts on the Shanghai Futures Exchange, creating a sharp drop in steel billet import bids in the country. Bids for standard 5sp billet were heard at $650-660 per tonne cf...Read More
China's domestic rebar price rebounded on Friday May 28 following futures gains, encouraging buyers to return to the market. Spot market sellers followed suit.Domestic Eastern China (Shanghai): 4,830-4,860 yuan ($758-763) per tonne, up by 120 yuan per tonne Northern China (Beijing) weekly assessment: 5,000-5,030 yuan per tonne, down by 400-420 yuan per tonne Some buyers increased their pro...Read More
The price range for flat-rolled stainless steel in Europe narrowed upwards this week, reflecting a continued shortage of supply that is likely to become more pronounced with the introduction of anti-dumping duties on material from India and Indonesia. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm grade 304, transaction domestic, delivered North Europe was ?,?3,150...Read More
China's leading stainless steel producers, Taiyuan Iron & Steel (Tisco) and Baosteel Group, have lowered their ferro-chrome tender prices for June delivery by 50 yuan ($7.84) per tonne compared with the previous month.The latest high-carbon ferro-chrome tender prices released by Tisco and Baosteel on Friday May 28 were 7,250 yuan and 7,445 yuan per tonne respectively, slightly down from the 7,300...Read More
Prices for shredded steel scrap imported into India and Pakistan moved down after there was further weakening on the Turkish scrap market and in Chinese futures, Fastmarkets heard on Friday May 28.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $495.42 per tonne on May 28, down from $510.93 per tonne on May 25 and from $517.88 per tonne on May 21.Indian buyers showed...Read More
Prices for shredded steel scrap imported into India and Pakistan moved down after there was further weakening on the Turkish scrap market and in Chinese futures, Fastmarkets heard on Friday May 28.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $495.42 per tonne on May 28, down from $510.93 per tonne on May 25 and from $517.88 per tonne on May 21.Indian buyers showed...Read More
Prices for flat-rolled steel imports into South America mostly decreased in the week to Friday May 28 due to a significant absence of Chinese material in the market, with negotiations starting to shift to August shipment, overall lower offers, and a cautious stance among customers.This was the first time since February 5 this year that the majority of import prices on the continent fell on a weekl...Read More
Brazilian steel slab export prices fell slightly week on week on Friday May 28 amid a pause in negotiations for shipments to the United States and lower indications for other regions.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $970-990 per tonne on Friday, widening downward from $980-990 per tonne on May 21.With July-shipment deals to the US done in the previous w...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 27 that are worth another look.Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into...Read More
Copper's 2.4% price rise at the close of trading on Thursday May 27, supported by the start of a strike at BHP's operations center in Chile, led the rest of the London Metals Exchange base-metals complex higher, making it the first day of strong rises following a week of lower prices.The three-month price of copper was $10,221 per tonne on Thursday at the close, up from Wednesday's $9,979 per tonn...Read More
Rio Tinto is partnering with Swedish research and development firm Comptech AB to bring a new generation of aluminium alloys to the market for use in advanced technologies, such as electric vehicles (EV) and 5G antennas, the UK-listed mining company said.The company said the products are currently undergoing qualification with automakers in Europe, who are stepping up efforts to increase their sha...Read More
Canada will seek to work with its allies and partners to develop supply chains that will help them to meet global climate goals, according to the associate deputy minister at the Department of Natural Resources Canada (NRCan).Shawn Tupper said that this will include building mineral value chains and downstream processing, products and technologies, and leveraging mining practices, to position Cana...Read More
Trade union members employed at BHP's operations center in Santiago de Chile were set to begin an indefinite strike on Thursday May 27, Fastmarkets has heard.Around 200 employees represented by the union were to stop working at BHP's Center of Integrated Operations, which manages the concentrates and cathode machinery at the company's Escondida and Spence copper mines.The strike was called after u...Read More
A combination of strong demand and tight supplies in the global silico-manganese market has revived Chinese exports, which have been largely dormant over the past decade, sources told Fastmarkets this week.As the world's largest silico-manganese producer, China was a significant supplier to buyers in Asia and Europe until the removal of an export rebate in 2005. And a 20% tariff introduced 2007 fu...Read More
Copper's price is trading at all-time highs - and now the countries where it is mined the most want a piece of the action.The London Metal Exchange's three-month copper contract recently hit an all-time high of $10,747 per tonne - industrial commodities have broadly rallied on the expectation that government investments in green energy schemes and infrastructure projects after the Covid-19 pandemi...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 27 that are worth another look.Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into...Read More
Four key takeaways from the 6th China International LiCoNi Summit in Changsha, China, on May 20-21, 2021.1. Weak nickel market sentiment now but long-term positive Sentiment remained weak among domestic market participants at the conference because they think both the mild hawkish stance evident in the Federal Open Market Committee (FOMC) minutes and the statement from China's State Council that...Read More