The Turkish steel mills have ended the working week with only three deep-sea cargoes amid limited finished long steel demand in the export markets, sources told Fastmarkets on Friday November 12.A steel mill in the Izmir region booked a United States cargo late on Thursday November 11 consisting of 14,000 tonnes of HMS 1&2 (80:20) at $500 per tonne and 30,000 tonnes of shredded at $520 per tonne c...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 12.Zihao Li, Yingchi Yang and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
A wide gap between bids and offers in the major deep-sea markets for ferrous scrap prevented deals being made for much of the week ended Friday November 12, sources have told Fastmarkets.?EUR?Turkey steelmakers struggle to buy December-delivery scrap?EUR?US suppliers resist lower bids amid tight supplies?EUR?Vietnam quiet amid volatile markets?EUR?Bids, offers remain far apart in cfr China market?...Read More
Carbon steel plate prices in the United States were steady at an all-time high on Friday November 12, but market sentiment has grown increasingly mixed for the rest of the year.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US held at $90 per hundredweight ($1,800 per short ton) on November 12, an all-time high and up sharply from $27.50 per cwt one ye...Read More
Domestic prices for steel rebar have been reduced in Brazil for November orders, with previous discounts from mills consolidating at even lower levels, Fastmarkets heard on Friday November 12.Market participants were still seeing room for a price increase given the much higher import offers, and there were reports of some attempts for a 7% rise, but delivery at stable prices until the year-end was...Read More
A wide gap between bids and offers in the major deep-sea markets for ferrous scrap prevented deals being made for much of the week ended Friday November 12, sources have told Fastmarkets.?EUR?Turkey steelmakers struggle to buy December-delivery scrap?EUR?US suppliers resist lower bids amid tight supplies?EUR?Vietnam quiet amid volatile markets?EUR?Bids, offers remain far apart in cfr China market?...Read More
Bangladeshi steelmakers have largely opted to stay away from buying in the scrap import market this week in the hope that prices will continue to fall, sources told Fastmarkets on Thursday November 11.- Bangladesh buyers step back from market - Shredded scrap offers rise to Bangladesh amid strong Pakistan market - Taiwanese consumers continue to bid low Bangladesh There was a lack of import ac...Read More
Base metals prices on the London Metal Exchange were largely up at the 5pm close of trading on Thursday November 11, after a strong morning performance and reassuring news that emerged from the Chinese property sector."Chinese stock markets gained, on growing confidence that the authorities would ease the crackdown on the property sector and support developers," Anna Stablum, LME desk analyst at M...Read More
Fastmarkets has identified a necessary clarification of the holiday pricing schedule for its seaborne Asian battery-grade lithium prices. The two price assessments for battery-grade seaborne lithium carbonate and lithium hydroxide monohydrate on a cif China, Japan & Korea basis will be published daily from December 1, 2021. This follows the conclusion of a consultation to increase the pricing freq...Read More
Production output for mining companies across base metals is likely to remain low despite significant additional capacity because miners face challenges from climate disruptions, ageing mines and Covid-19-related delays, Australian consultancy and research firm Cape Noir said on Thursday November 11."A lot of assets are showing declines in production and rolling delays to maintenance. Assets have...Read More
The gap between spot prices for ferro-chrome in China and major stainless steel mills' November tender prices narrowed in the past week, with the former sliding further on destocking pressure while contract buyers showed more willingness to pay more to secure their feedstock.Taiyuan Iron & Steel Group (Tisco) and the Baosteel Group both raised their November tender prices for high-carbon ferro-chr...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
China's output and sales of automobiles continued their year-on-year decline in October due to the continuing semiconductor chip shortage, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Wednesday November 10.Automobile output and sales in the country dropped by 8.8% and 9.4% year on year respectively, both to 2.33 million units in October, CAAM dat...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 11 that are worth another look.The capacity expansion at ArcelorMittal Brasil's Monlevade unit will serve either the domestic or export markets with high-quality special steel products, chief executive officer Jefferson De Paula told Fastmarkets on November 11....Read More
Johnson Matthey (JM) is pursuing the sale of all or parts of its battery materials division following a detailed review.This reflects the high capital intensity of those operations in the face of competition from more established large-scale, low-cost producers, the UK-based specialty chemical and sustainable technologies company said in a press release on Thursday November 11.Growth in demand for...Read More
Chinese battery materials producer CNGR Advanced Material Co, co-operating with its Singapore-based partner Rigqueza International, has announced an additional investment of $330 million in its nickel matte project in Indonesia, the company disclosed in a filing to the Shenzhen Stock Exchange on Wednesday November 10.According to the filing, CNGR will use the additional funding in the nickel matte...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Thursday November 11 - it would seem dip-buying has dominated once again.Consumer prices in the United States and China rise more than expected.US Dollar Index shoots up to 95 while the rally extends.Base metalsThree-month base metals prices on the LME were mainly stronger...Read More
Chinese exporters of ammonium paratungstate (APT) tried to hold their offers firm this past week, despite the overall export market being inactive and domestic prices in China falling, according to sources.Fastmarkets' weekly price assessment for tungsten APT 88.5% WO3 min, fob main ports China was $313-319 per metric tonne unit (mtu) on Wednesday November 10, widening downward by $2 per mtu from...Read More
Turkish steel mills were quiet in the deep-sea scrap import markets on Thursday November 11 after booking two cargoes from the Baltic Sea region, sources told Fastmarkets.A steel mill in the Marmara region had booked two Baltic Sea cargoes late on Tuesday November 9 at $497 and $500 per tonne cfr on HMS 1&2 (80:20) basis. Turkish steelmakers required more cargoes for December,...Read More