A summary of China's battery raw materials exports for June 2021.In brief Exports of cobalt tetroxide increased both month on month and year on year in June amid rising buying appetite from South Korea, the Netherlands and Belgium.Lithium carbonate exports fell slightly on a monthly...Read More
Rio Tinto is cutting production at its BC Works aluminium smelter in Kitimat, Canada, to just 35% of its annual capacity, after workers went on strike following failed labor contract negotiations.That would bring production at the 432,000-tonnes-per-year smelter to just over 150,000 tonnes."We will continue to look for longer-term solutions with the union and work closely with customers and suppli...Read More
The company produced 25.5Mlb copper, 7,627 ounces gold and 147,973oz silver for 29.6Mlb copper equivalent in the quarter to June 30 at an all-in sustaining cost of US$1.83/lb.Read More
Norway-based aluminium and renewable energy producer Norsk Hydro hopes to increase annual earnings by as much as 1.1 billion krone ($124 million) through investments into recycling and the use of post-consumer scrap, according to chief financial officer P??l Kildemo.Kildemo was speaking to Fastmarkets in an exclusive interview on Friday July 23, after Hydro announced its second-quarter results.The...Read More
Highlights included 97m grading 1.3% copper, 1.6 grams per tonne gold, 3.2% zinc and 32g/t silver including 15m grading 5% copper, 0.4g/t gold, 0.4% zinc and 19g/t silver.Read More
A summary of China's battery raw materials imports for June 2021.In Brief Imports of cobalt intermediates increased in June with improved logistics and buying appetite increased due to rising downstream cobalt salts prices. Imports of cobalt metal decreased month on month with most materials being purchased by overseas buyers driven by...Read More
Canada-based supplier First Cobalt has extracted nickel, cobalt, copper, manganese, lithium and graphite from a "black mass" product recovered from recycled batteries, the company said on Thursday July 22.The extraction was done at the company's hydrometallurgical refinery located north of Toronto.Black mass represents the main chemical composition of the battery, and is obtained after removal of...Read More
The price of nickel ore narrowed upward amid limited supply in the week to Friday July 26 amid bad weather and increasing Covid-19 infections in southeast Asia, while the cargo liquefaction of nickel ores also concerned sources, Fastmarkets learned.Fastmarkets' latest assessment for the price of laterite ore with 1.5% Ni content, cif China was $78-80 per tonne on Friday July 23, up by $3 (1.0...Read More
Base metals prices on the Shanghai Futures Exchange were up by an average of 1.1% this morning, Monday July 26, while they followed Friday’s gains on the London Metal Exchange that averaged 1.3%.* Chinese equities under pressure after authorities tighten regulations* Pre-market western equity index futures showing a weaker startBase metalsLME three-month base metals prices were mainly weaker...Read More
(Updates with prices) LONDON, July 26 (Reuters) - Copper prices rose on Monday asfloods in top consumer China sparked demand hopes at a time wheninventories were falling, while a softer dollar also supportedprices. Benchmark copper on the London Metal Exchange was up3.2% at $9,820 per tonne by 1700 GMT, after touching its highestsince June 15 at $9,819.50, in its fifth straight session ofgains. Fl...Read More
Prices for carbon steel plate in the United States shot up after three weeks of stability following a mill price hike, and market participants expect monthly increases from domestic steelmakers will continue through the second half of the year.Fastmarkets' weekly assessment for steel cut-to-length plate carbon grade, fob mill US reached an all-time high of $80 per hundredweight ($1,600 per short t...Read More
Hot-rolled coil prices in the United States remained below $91 per hundredweight ($1,820 per short ton) for the second business day in a market that has reported a small increase in spot volume trade in the last week.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.61 per hundredweight ($1,812.20 per short ton) on Monday July 26, down 0.21% from $90.80 per cwt on F...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
Domestic prices for hot-rolled coil inched down in Northern Europe but were unchanged in Italy on Monday July 26 due to limited trading activity, sources told Fastmarkets.Offers from Northern European suppliers remained limited. Mills in the region had good order books and could only offer fourth-quarter-production HRC, with some of them claiming to be sold out until the end of the year, sources s...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Weakness was led by Chinese stocks following a crackdown by the Chinese government on Tech Education companies. The Shanghai Composite Index dropped 82.06 to 2,467.44.Facebook added $0.59 to $370.39 after Mizuho raised its target price from $400 to $450.Starbucks added $3.34 to $129.36 a...Read More
ArcelorMittal is to enter a partnership with Sekisui Chemical on a carbon capture project, and invest in a renewable energy storage company as part of its XCarb innovation fund, the steelmaker has announced.The project will be intended to capture and re-use carbon waste gases from the steelmaking process, contributing to the decarbonization of steelmaking and reducing dependence on fossil resource...Read More
There was no activity in the spot pig iron import market in the United States during the week to Friday July 23, because buyers have refrained from booking in wait of lower prices.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $625-640 per tonne on Friday, narrowing downward by $5 from $625-645 per tonne a week prior.The most recent bookings in the spot market were...Read More
Brazil's pig iron export market remained frozen during the week to Friday July 23, with sentiment weakening further due to a lower workable level for buyers, market participants said.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was stable week on week at $620-625 per tonne on Friday, unchanged since early July due to the absence of export activity."There are....Read More
Turkish steel producers started the week with no deep-sea trade after the holiday periods in the country, market participants said on Monday July 26.Steel trade in Turkey has been mostly on hold since July 15 due to the public holidays observed in the country.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July 19-23.But market participa...Read More
Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up b...Read More