The Turkish deep-sea scrap import market went quiet after the sharp increase in prices following China's cancellation of export tax rebates on some steel products, market participants said on Tuesday May 4.China's Ministry of Finance removed the export tax rebate on some steel products on May 1.The news boosted demand for steel and, in particular for steel billet, in Asia, and that triggered the r...Read More
Chile's copper mine production fell by 1.21% in March compared with the same month last year amid lower volumes from Escondida, the world's largest copper mine, according to data published by national copper commission Cochilco on Tuesday May 4.Copper production totaled 488,700 tonnes in March, down from 494,700 tonnes in the same month last year, Cochilco said. But output rose by 14.58% sequ...Read More
A summary of North America-based aluminium products manufacturer Arconic's first-quarter 2021 financial results, released on Tuesday May 4, 2021.In brief: Global aluminium products manufacturer Arconic reported a 4% year-on-year increase in total revenue in the first quarter of 2021. Total revenue is also up by 15% from the previous quarter, largely attributed to the rise in aluminium prices.The c...Read More
Treatment charges for lead concentrates fell sharply in April after the arbitrage between Shanghai and London prices encouraged more imports into China, sources said.Fastmarkets' lead spot concentrate TC, low silver, cif China assessment was $55-65 per tonne on April 30, a 20-month low and down from an $80-100-per-tonne range in March.Lead concentrates with a low silver content are historically mo...Read More
Prices on the London Metal Exchange continued to the upside on the first trading day of May, with aluminium and nickel marking the biggest increases on the morning of Tuesday May 4, with aluminium reaching new year-to-date highs.The metal was up by 1.5% on Tuesday morning at $2,432 per tonne after it had already reached a new 2021 peak of $2,441.50 per tonne during early trading and despite the ab...Read More
Prices for hot-rolled coil in the United States remained below $75 per hundredweight ($1,500 per short ton) for a second consecutive day while buyers probed domestic mills for hints about July volumes and pricing. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $74.70 per cwt ($1,494 per ton) on Tuesday May 4, down slightly from $74.82 per cwt on Monday May 3 but up b...Read More
Duferco Travi e Profilati, the Italian long steel producer of the Duferco group, has received a loan of ?,?72 million ($86.5 million) from two banks to build a new sustainable steel plant in Brescia, Italy, the company said on April 29.This follows Duferco's recent announcement that it was to partner with equipment provider SMS group for the new green beam mill.The new plant should go into product...Read More
Domestic prices for hot-rolled coil in Europe inched up further on Tuesday May 4, with steelmakers remaining in full control of pricing, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,011.00 ($1,217.84) per tonne on Tuesday, up by just ?,?3.86 per tonne from ?,?1,007.14 per tonne on April 30.The index was also up b...Read More
There was only limited demand for imported flat steel in the United Arab Emirates and Saudi Arabia in the week to Tuesday, May 4, largely because of the Islamic holy month of Ramadan, but also due to labor day holidays in China and elsewhere, sources said.Working hours in both countries are reduced during Ramadan, which started on the evening of April 12 and will end next week.China, which is one...Read More
Prices for steel billet and rebar were stable in the United Arab Emirates during the week to Tuesday May 4 because of poor demand during the Islamic holy month of Ramadan, sources told Fastmarkets.Most buyers, however, expect prices to increase by around $30-40 per tonne after the Eid-al Fitr holiday, which marks the end of Ramadan, in the next week. Usually, working hours are reduced d...Read More
Domestic prices for hot-rolled coil in the EU increased over the week to Friday April 30, going above ?,?1,000 ($1,205) per tonne for the first time.At the end of last week, ArcelorMittal again increased its official offer prices for all steel coil products in Europe - by ?,?20 per tonne for HRC and by ?,?50 per tonne for downstream products. Its new offers for HRC were heard at ?,?1,020 per tonne...Read More
Pakistan rebar producer Amreli Steels has increased its annual production of reinforcing and round bars to 400,000 tonnes per year after Primetals Technologies supplied it with a new bar mill, the companies said.Amreli Steels' mill, based in Karachi, issued a final acceptance certificate in February 2021 for the bar mill from Primetals Technologies. Previously, Amreli Steels' mill had a capacity o...Read More
Turkish domestic scrap prices increased over the past week due to the recent upturn in imported scrap values, market sources told Fastmarkets on Tuesday May 4.Turkish steel mills sped up their deep-sea scrap purchases at the end of the last week, with Asian demand for steel products increasing sharply after China confirmed it had cancelled its export tax rebate on some steel products.Fastmarkets'...Read More
Liquidity in the seaborne iron ore market remained weak on Tuesday May 4 due to the Labor Day holiday in China (May 1-5) despite several active bids on trading platforms, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $188.85 per tonne,unchanged62% Fe low-alumina fines, cfr Qingdao: $190.01 per tonne,unchanged58% Fe fines high-grade premium, cfr Qingdao: $161.53 per tonne,unc...Read More
Seaborne coking coal prices remained largely flat day on day on Tuesday May 4, despite some limited trading activity. Fastmarkets indicesPremium hard coking coal, fob DBCT: $111.03 per tonne, down $0.10 per tonnePremium hard coking coal, cfr Jingtang: $226.79 per tonne, unchangedHard coking coal, fob DBCT: $103.71 per tonne, unchangedHard coking coal, cfr Jingtang: $204.19 per tonne, unchangedIn t...Read More
Australia-listed Tombador Iron Limited has been granted a mining concession for the Tombador project in Brazil's Bahia state by the country's Ministry of Mines and Energy and expects to begin production in the current quarter.The company, which wholly owns the high-grade iron ore lump project, is awaiting the award of an operating license from the Brazilian state's department of environment before...Read More
The CME Group's cash-settled lithium futures contract, which is settled against Fastmarkets' assessment of the spot price for battery-grade lithium hydroxide in China, Japan and South Korea, was traded for the first time on Monday May 3.A total of five tonnes was traded at $14.25 per kg on Monday, the day the contract was launched, for delivery in June 2021, according to the CME.Fastmarkets' lates...Read More
With Chinese markets closed, volume traded on the London Metal Exchange has been light this morning, Tuesday May 4, with 2,368 lots traded as of 6.14am. But the base metals were holding up in high ground with gains averaging 0.7%, led by a 1.1% rise in copper to $9,916.50 per tonne. The US Dollar Index, recently at 91.16, was consolidating off last week's low of 90.42Base metalsThe rallies in the...Read More
The European manganese alloy markets climbed strongly over the week to Friday April 30, propelled by strong spot demand from consumers in the steel sector as well inter-merchant trade.Prices for both silico-manganese and high-carbon ferro-manganese hit ?,?1,300 per tonne delivered at the top of their respective price ranges on Friday, a level last seen in each market more than four years ago in ea...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 20.40-21.15...Read More