Domestic prices for hot-rolled coil in Northern Europe inched up day on day on Monday October 26, with market sources expecting steelmakers to push prices up further due to reduced availability of the material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?497.92 ($590.29) per tonne on Monday October 26, up by ?,?1.25 per...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow remained broadly stable this week, despite producer attempts to raise prices for November deliveries, sources told Fastmarkets on Monday, October 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 40,000-41,000 roubles ($526-539) per tonne on October 26, incl...Read More
Prices for flat steel imported into South America have remained mostly stable over the week to Friday October 23 while hot-rolled coil (HRC) prices increased amid strong offers from Chinese exporters, sources told Fastmarkets.Steelmakers from China have been more insistent on sustaining price increases after their return from the country's Golden Week holiday (October 1-8) and, therefore, have bee...Read More
Turkish steel mills have returned to the market to book as many as six cargoes, sources told Fastmarkets on Monday October 26. News of several cargoes came to light late on Friday after the Fastmarkets' index calculation had closed for the day, and additional cargoes were sold on Saturday. Two UK deals came to light over the weekend, with one confirmed to have been sold Saturday. Both comprised HM...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More
Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week. "The higher production and shipments from Australian miners over [the fourth quarter] is pretty normal as seen over the years. It is their way of pushing to meet their half-year targets for the financial year...Read More
Iron ore prices in both the futures and seaborne markets fell further on Monday October 26, due to a dip in liquidity while the market waits for a clear direction to emerge from China's 14th five-year plan discussions. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $114.63 per tonne, down $0.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $115.29 per tonne, down $0.41 per ton...Read More
Seaborne premium hard coking coal and hard coking coal prices in both fob and cfr markets dropped drastically on Monday October 26 due to lack of demand with sources reporting a stalemate between miners and buyers. Fastmarkets indices Premium hard coking coal, fob DBCT: $107.74 per tonne, down $5.51 per tonne Premium hard coking coal, cfr Jingtang: $119.83 per tonne, down $6.22 per tonne Hard coki...Read More
Singapore-based rebar buyers bought fresh quantities of Turkish rebar in the week to Monday October 26 on returning spot demand, sources told Fastmarkets.A group of buyers had to purchase 50,000 tonnes of January-shipment Turkish rebar from a producer located in Izmir, sources said, although this could not be directly confirmed by some of the counterparties heard to be involved in the transaction...Read More
The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26. "In terms of size, [lithium] is now at a level where it can support an actively traded...Read More
Key data from Fastmarkets' pricing session in London on Friday October 23.Key drivers Antimony prices in Europe continued to gain strength on tight raw material supply in China, which is also leading replacement costs up rapidly. Offers for antimony from China were heard within $6,000-6,300 per tonne, cif Europe for arrival in November, market participants said. Producers were unwilling to lower t...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process...Read More
Limited availability and a solid outlook for electric vehicle (EV) demand have given annual contract negotiations for cobalt hydroxide a kick start, but discussions for cobalt metal may evolve over a longer period, market sources told Fastmarkets.While Covid-19 has hit global economies and dented consumer sentiment, it also put low-carbon economies at the forefront of government policy and expecte...Read More
Key data from the Friday October 23 pricing session in Shanghai.Key drivers Chinese exporters continued to raise their offers given the rapid rise in domestic prices. No deals were reported, however, because overseas consumers were resistant to the higher prices. Domestic producers are...Read More
The magnesium price in China rose to a two-month high last week after producers raised their offers amid growing optimism over planned stockpiling by the Yulin Municipal Government, market sources told Fastmarkets.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,700-12,800 yuan ($1,896-1,911) per tonne on Friday October 23, an increase of 400 yuan per tonne (3.2%) from 12...Read More
Prices and payables for cobalt hydroxide stretched to new highs last week, when Chinese refineries continued their restocking efforts in a market that remains tightly supplied for spot cargoes. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, was 78.5-80.5% of the price for cobalt standard grade, in-warehouse Rotterdam (low-end), on Friday October 23, widening upward from th...Read More
Seaborne prices for both low-and high-grade manganese ore in China moved down for the third consecutive week in the week to Friday October 23, following deteriorating overall market sentiment amid weakening portside ore and alloys markets. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $3.92 per dry metric tonne unit (dmtu) on Friday, down by 11 cents per dmtu, or 2.7%, from $4.03...Read More
Portside prices for low- and high-grade manganese ore in China fell for the sixth consecutive week in the week to Friday October 23, partly as a result of traders lowering their offer prices to secure deals with domestic alloy smelters, market participants told Fastmarkets. Both prices are at their lowest levels since November 8, 2019, when the low- and high-grade ore stood at 31.70 yuan ($4.73) p...Read More
A summary of China's ores and alloys imports for September 2020.In brief China's import of ferro-chrome shrunk month on month in September, with the volumes accepted from South Africa halved compared with August when an "overwhelming" amount of material arrived following the resumption of production and export activities in the major supply state. Market expectations of healthy demand in Septembe...Read More