Fastmarkets has partnered with the CME Group to launch a cash-settled lithium futures contract, which will be settled against Fastmarkets' assessment for lithium hydroxide battery grade, spot price cif China, Japan & Korea, the exchange announced on Thursday April 8.The contract is due to be launched on May 3, subject to all relevant regulatory reviews, it said.Fastmarkets' lithium price is publis...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 8 that are worth another look.The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly,...Read More
Michael Insulan has joined First Cobalt as vice president, commercial, tasked with advancing the company's offtake strategy and the marketing of its refinery's cobalt sulfate production to electric vehicle (EV) manufacturers and battery cell makers. Based in Europe, Insulan was most recently at a senior market analyst at cobalt producer Eurasian Resources Group. He has previously held roles at CRU...Read More
The announcement of a 1.529 billion yuan ($233.6 million) limited partnership agreement between major Chinese manganese miners and traders has left many in the market weighing up the significance of such a move.South Manganese Investment, formerly Citic Dameng Holdings, entered into a limited partnership agreement with 10 participants involved in manganese mining and trading, according to a notice...Read More
Most futures prices on the London Metal Exchange saw a bounce at the close on Thursday April 8, following the retreat of the US Dollar Index. Nickel's three-month price resumed its upward trajectory on Thursday, reaching an intraday high of $16,875 per tonne - its highest level since early March. The metal closed at $16,828 per tonne, a 1.1% increase on its Wednesday reading of $16,636 per to...Read More
The month-long inspections on steel mills outside Tangshan that started on April 6 have eroded already weak iron ore demand in China, keeping iron ore price movements largely rangebound on Thursday April 8. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.10 per tonne, down $0.53 per tonne 62% Fe low-alumina fines, cfr Qingdao: $173.71 per tonne, down $0.45 per tonne 58% Fe fines high-...Read More
Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures. Nickel's three-month price reached an intraday high of $16,800 per tonne during early trading o...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Domestic prices for European heavy steel plate increased again in the week to Wednesday April 7, supported by higher slab costs and lower supply for spot buyers, sources told Fastmarkets.Steelmakers have also been targeting further price increases, sources said.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?740-760 ($879-903) per tonne on April 7,...Read More
The uptrend in Europe's hot-rolled coil market continued on Thursday April 8, with prices supported by a persistent lack of material, while ArcelorMittal has increased offer prices again, Fastmarkets heard. Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?895 ($1,065.41) per tonne on April 8, up by ?,?1 per tonne from ?,?894 per tonne on Wednesday Ap...Read More
A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) for the full-year of 2020, parent company Votorantim's earnings report, released on Thursday April 8, said.In brief Total aluminium sales volume growth was largely due to the downstream segment after the acquisition of a former Arconic sheet and foil unit in the Brazilian northeastern sta...Read More
Brazilian exports of alumina were up by 40.01% year on year in March, after the two main producers, Alunorte and Alumar, increased their shipments, data from the country's economy ministry, published on Wednesday April 7, show.Exports totaled 886,640 tonnes in March, rising from 633,254 tonnes the year before. Canada was the main destination during the month, with 294,139 tonnes arriving, while No...Read More
Canada-headquartered zinc producer Trevali Mining signed a 15-year power supply agreement with Emerging Markets Energy Services (Emesco) for its Rosh Pinah mine in Namibia, the company said on Wednesday April 7.The deal is part of the miner's efforts to reduce greenhouse gas (GHG) emissions by 25% from 2018 until 2025. This particular agreement, according to the company, will contribute with a 6%...Read More
The build-up in expected times to deliver aluminium material out of London Metal Exchange warehouses in Port Klang has created a gap in warrant premiums for the metal unseen since Fastmarkets started covering the market in January 2017.Queue times at some warehouses are reported to be at three months, at least, in some Port Klang warehouses, with other traders telling Fastmarkets that the next ava...Read More
Nickel continued to reach its highest prices in a month while the rest of base metals on the London Metal Exchange were marginally higher on Thursday April 8, with the prospect of more economic stimulus and supportive fiscal measures in the United States boding well for equity markets and metal futures. Nickel's three-month price reached an intraday high of $16,800 per tonne during early trading o...Read More
China's domestic stainless steel prices widened downward during the week ended Wednesday April 7 on selling pressure, though nickel prices increased.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $16,731 per tonne, up by $581 per tonne from $16,150 per tonne a week earlier.The most-traded June nickel contract on the Shanghai Futures...Read More
The European Union's second-quarter quota for steel imports opened just one week ago, and some long steel suppliers have already used a large portion of their allocations, with sources expecting long steel volumes to be absorbed very quickly, thus depriving European customers of diverse supply options,Fastmarkets understands.Russia Russian mills have already consumed about 80-90% of both thei...Read More
Export billet prices from the Commonwealth of Independent States (CIS) continued to increase on Thursday April 8 on support from growing offers from some major suppliers amid rising scrap costs as well as a supportive Chinese market.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $428.42 per tonne, down by $0.43 per tonne day on day and up by $11....Read More