An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More
The Chinese government has started inspections ahead of issuing ferrous and non-ferrous metal scrap import licenses for the second half of 2019 to avoid a potential month-long disruption of all scrap imports, the country's Ministry of Ecology and Environment (MEE) said on Wednesday May 29. The environmental ministry aims to issue the first batch of licenses in late June - right before the launch o...Read More
Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More
Turkish deep-sea scrap import prices made a downward correction on increased supply after the recent buying spree by the country's steel mills, sources said on Wednesday May 29.A steel producer booked a Baltic Sea cargo late on May 28, comprising 25,000 tonnes of HMS 1&2 (80:20) at $306 per tonne and 1,000 tonnes of bonus at $316 per tonne cfr.As a result of this transaction, the daily scrap indic...Read More
Markets remain jittery while US-China trade war rhetoric escalates with the latter raising the possibility of including rare earth minerals in their trade negotiations. Equity markets have sold off and bond yields have fallen as investors move into havens.Trade war rhetoric escalatesEquites sell off on Tuesday, while Treasury yields fall furtherMarket now indicating increased likelihood of two US...Read More
Fastmarkets looks at recent developments in the lithium industry and key topics likely up for discussion at the 11th Lithium Supply & Markets conference in Santiago, Chile, on June 10-12.Last year, before the 10th Lithium Supply & Markets conference in Las Vegas, various delegates expressed their concerns about possible global oversupply of lithium compounds and the impact of this on lithium price...Read More
Switzerland-headquartered miner-trader Glencore has reached a long-term revolving agreement to supply Belgian battery-materials manufacturer Umicore AS with cobalt hydroxide, Glencore said on Wednesday May 29. Glencore will supply materials from its Katanga and Mutanda mining assets located in the Democratic Republic of Congo (DRC) to Umicore's cobalt refineries globally, including the Kokkola ref...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been stable over the past week while steelmakers sought higher prices and buyers resisted any rises, market sources told Fastmarkets on Wednesday May 29.Some European flat steel producers, including ArcelorMittal and Marcegaglia, have increased their official offers of HRC while others have stopped giving additional discounts to buyers."If m...Read More
Equipment maker Paul Wurth will supply two new blast furnaces to Turkish Erdemir Group's plant located in Eregli, northern Turkey, and Isdemir plant located in Iskenderun, southern Turkey, Paul Wurth said last week.In both cases, one completely new furnace will replace an older production unit, Paul Wurth said.The new blast furnace at the Erdemir location will produce 5,000 tonnes per day of hot m...Read More
China's domestic hot-rolled coil market came under pressure from high production rates coupled with weakening demand on Wednesday May 29, resulting in prices falling.DomesticEastern China (Shanghai): 3,970-3,980 yuan ($575-576) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneHRC producers have kept their production rates high in the p...Read More
Prices for hollow steel sections in Northern Europe were stable this week with market activity restricted by the Ascension Day holiday in many northwest European countries.The holiday will be on May 30 but many sales and procurement personnel in companies' buying and selling sections have taken extended leave, which has affected trading activity.Fastmarkets' domestic price assessment on Wednesday...Read More
The price for rebar produced and delivered in Southern Europe widened downward by ?,?5 ($6) per tonne on Wednesday May 29 amid continuing weak demand, market participants told Fastmarkets.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?495-510 ($553-570) per tonne delivered on Wednesday, down slightly from ?,?500-510 per tonne delivered on May 22."Domestically, th...Read More
Prices for mesh-quality wire rod in Europe have remained stable over the past week, although market participants expected a gradual price recovery after recent falls, sources told Fastmarkets on Wednesday May 29.Fastmarkets' assessment of the price of domestic mesh-quality wire rod in Southern Europe was ?,?500-520 ($559-581) per tonne delivered on May 29, unchanged from May 22, but down from $525...Read More
The Chinese government has started inspections ahead of issuing ferrous and non-ferrous metal scrap import licenses for the second half of 2019 to avoid a potential month-long disruption of all scrap imports, the country's Ministry of Ecology and Environment (MEE) said on Wednesday May 29. The environmental ministry aims to issue the first batch of licenses in late June - right before the launch o...Read More
Turkish deep-sea scrap import prices made a downward correction on increased supply after the recent buying spree by the country's steel mills, sources said on Wednesday May 29.A steel producer booked a Baltic Sea cargo late on May 28, comprising 25,000 tonnes of HMS 1&2 (80:20) at $306 per tonne and 1,000 tonnes of bonus at $316 per tonne cfr.As a result of this transaction, the daily scrap indic...Read More
Iron ore prices rose then fell back again on Wednesday May 29, while the 65% Fe derivative traded actively.MB 62% Fe Iron Ore Index: $106.18 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Pilbara Blend Fines Index: $104.66 per tonne cfr Qingdao, up by $0.07 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $110.13 per tonne cfr Qingdao, up by $0.61 per tonne.MB 58% Fe Premium Index: $97.99 p...Read More
Equipment maker Paul Wurth will supply two new blast furnaces to Turkish Erdemir Group's plant located in Eregli, northern Turkey, and Isdemir plant located in Iskenderun, southern Turkey, Paul Wurth said last week.In both cases, one completely new furnace will replace an older production unit, Paul Wurth said.The new blast furnace at the Erdemir location will produce 5,000 tonnes per day of hot m...Read More
China's domestic and export prices for rebar moved down on Wednesday May 29 on weakening demand and losses in the billet and futures markets. Domestic Eastern China (Shanghai): 3,990-4,030 yuan ($577-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,920-3,960 yuan per tonne, narrowed downward by 10 yuan per tonneRebar demand in the construction sector is decreasing gradually ami...Read More
Import prices for stainless steel in East Asia narrowed over the week to Wednesday May 29 after some producers raised their asking prices following the uptick in the London Metal Exchange nickel price although demand in the region remained weak.304 stainless 2mm trimmed cold-rolled coilFastmarkets MB's weekly import price assessment for benchmark 304 stainless 2mm trimmed CRC in East Asia narrowed...Read More