Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Chinese nickel sulfate producers face difficult annual contract negotiations for 2022, with upstream miners taking an aggressive stance while downstream battery precursor material producers are hinting at lower demand amid plans to implement integrated operations.The Chinese nickel sulfate price has undergone considerable volatility in 2021, climbing in August to its highest since Fastmarkets bega...Read More
Italian domestic steel scrap prices increased in the month to Tuesday November 16, supported by a combination of reduced supply and strong demand, sources have told Fastmarkets.Month-on-month comparison prices have recovered by about ?,?10 ($11) per tonne. But market sources said that, taking into account that scrap prices dropped in the second half of October, the recovery since the start of Nove...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
Domestic steel reinforcing bar prices in the United States increased slightly to a 13-year high, with many market participants expecting it to go up again before long.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US was $50.50 per hundredweight ($1,010 per short ton) on Wednesday November 18, up by 0.50% from the week before and at its highest point since the assessment...Read More
The removal of a safeguard duty on imports of steel billet into Egypt earlier this week has resulted in a revival of trading activity in the local market, with various sellers rushing to grasp the opportunity because of unfavorable situations in other areas.The Egyptian Ministry of Industry & Trade suspended the country's 10% safeguard duty on imported billet with effect from Monday November 15.Fo...Read More
The infrastructure to recycle electric vehicle (EV) batteries is currently not optimized either to handle end-of-life battery capacity or to meet critical materials demands placed on the market with the ramping-up of electrification, according to US-based consultancy Lux Research.In a report issued on Thursday November 18, the consultancy said that, despite a flurry of activity in the past few yea...Read More
Italian domestic steel scrap prices increased in the month to Tuesday November 16, supported by a combination of reduced supply and strong demand, sources have told Fastmarkets.Month-on-month comparison prices have recovered by about ?,?10 ($11) per tonne. But market sources said that, taking into account that scrap prices dropped in the second half of October, the recovery since the start of Nove...Read More
Japanese steel scrap export prices fell again in the week to Thursday November 18, after lower-priced deals to South Korea emerged, sources told Fastmarkets.A major South Korean mill purchased about 30,000 tonnes of Japanese steel scrap at bid prices that it had lodged earlier this week, sources told Fastmarkets on Thursday.On Wednesday, the mill bid at ?49,500 ($432) per tonne fob for H2 scrap,...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
European hot-rolled coil prices remained broadly stable on Thursday November 18 on limited trading, but sentiment for the first quarter of 2022 has turned cautiously optimistic, sources told Fastmarkets. Limited tonnages of December-rolling HRC are still available at lower prices, but for January next year mills are targeting higher levels to cover surging c...Read More
Base metal futures prices on the London Metal Exchange were largely up at the 5pm close on Thursday November 18, with tin reaching a new all-time high.The three-month tin price closed at $38,453 per tonne, a rise of 1.2% from $37,975 per tonne at the 5pm close on Wednesday. This marks a new all-time high for the soldering metals three-month price, with the previous record being $38,330 on October...Read More
Seaborne coking coal prices in the cfr China market dropped further on Thursday November 18 after domestic cargoes plunged due to weak demand, while the fob Australia coking coal market continued to be quiet without firm buying interest, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $523.84 per tonne, down $26.35 per tonneHard coking coal, cfr Jingtang: $348.75 per...Read More
The logistics of a cluster of copper mines in western Canada have been disrupted by extreme weather conditions in the province of British Columbia (BC) this week, Fastmarkets has learnt."All transportation routes, rails and highways, to the interior of the province are closed due to washouts and [land]slides," one Canadian miner source said on Thursday November 18.The province declared a state of...Read More
Domestic prices for cold-rolled coil in Southern Europe moved down in the week to Wednesday November 17 due to limited trading activity and competitive import offers, sources told Fastmarkets.In the meantime, domestic prices in the north of Europe have been fairly stable despite a similar lack of demand.Both Southern and Northern European spot buyers have been avoiding booking significant volumes...Read More
Base metal futures prices on the London Metal Exchange were largely up at the 5pm close on Thursday November 18, with tin reaching a new all-time high.The three-month tin price closed at $38,453 per tonne, a rise of 1.2% from $37,975 per tonne at the 5pm close on Wednesday. This marks a new all-time high for the soldering metals three-month price, with the previous record being $38,330 on October...Read More
Turkish long steel export prices have gone down over the past week amid poor demand from the country's major overseas destinations, market participants told Fastmarkets on Thursday November 18.Turkish steelmakers have lowered their export offers for rebar to $730-735 per tonne, down from last week's $740-745 per tonne fob on an actual-weight basis.However, the workable price...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 18 that are worth another look.Swedish steelmaker SSAB has announced a further two partnerships involving its fossil-fuel-free steel, to commence in 2026, the company said in separate announcements this week.Production of key battery raw materials cobalt...Read More
Chinese nickel sulfate producers face difficult annual contract negotiations for 2022, with upstream miners taking an aggressive stance while downstream battery precursor material producers are hinting at lower demand amid plans to implement integrated operations.The Chinese nickel sulfate price has undergone considerable volatility in 2021, climbing in August to its highest since Fastmarkets bega...Read More
Key data from the Wednesday November 17 pricing session in China.Key drivers China's spot cobalt metal price fell amid a decline in local futures prices, while downstream demand was curbed by still high spot levels. Cobalt tetroxide prices in China were flat amid limited trading activity. Though most sellers would like...Read More