Copper's biggest squeeze in a year is ratcheting up as cathode continued to be canceled from London Metal Exchange-listed warehouses on Monday September 21.A total of 11,100 tonnes of copper has been freshly canceled, according to LME data released on Monday, showing 4,775 tonnes coming out of Bilbao and 6,325 tonnes from New Orleans sheds.The cancellations mean LME on-warrant stocks of the metal...Read More
Prices for carbon steel plate in the United States rose after ferrous scrap prices strengthened and JSW Steel USA idled its Texas plate mill, supporting other mills' increases. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US climbed to $27.50 per hundredweight ($550 per short ton) on Friday September 18 from $26 per cwt on Friday September 11. The asses...Read More
European steel industry association Eurofer has filed a complaint to the European Commission (EC) seeking registration of all hot-rolled coil imports from Turkey, sources told Fastmarkets on Monday September 21.If the EC accepts the complaint, then imports of the material in question will have to be registered, and any anti-dumping duties could be imposed retroactively for the three months prior t...Read More
CIS exporters of rebar and wire rod continued to push up their offer prices over the past week because of reduced availability due to repairs being carried out at some facilities.Ukrainian rebar was on offer at $485 per tonne fob Black Sea, while Russian material was available at $475-480 per tonne fob, sources told Fastmarkets.Wire rod price indications from Ukraine were coming in at $5...Read More
Export prices for flat steel products from the Commonwealth of Independent States (CIS) were mostly stable in the week to Monday September 21, with market participants expecting prices to move in line with raw material prices.Market participants were unsure about the direction of prices because of the recent price changes in iron ore.Fastmarkets' daily index for 62% Fe fines, cfr Qingdao was $119....Read More
The domestic steel rebar market in Russia's Central Federal District around Moscow picked up on new offers from mills, backed by good demand from the end sector, sources told Fastmarkets on Monday September 21. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia surged to 40,000-41,000 roubles ($528-542) per tonne on September 21, including 20%...Read More
Turkish steel mills remained out of the deep-sea scrap import markets amid firm stock levels and weak finished long steel demand, sources said on Monday September 21.The country's steelmakers have been absent from the market since September 9, when the last bookings were made at a price level of $301 per tonne cfr on an HMS 1&2 (80:20) basis. Some suppliers then tried to increase their offers to $...Read More
Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108 million tonnes per year (tpy) by 2033, the company said on Monday September 21.In addition to expanding the capacity of its CSN Minera????o subsidiary from 33 million tpy, mostly...Read More
Turkish domestic scrap prices have remained largely stable over the past week amid steady import values, sources said on Monday September 21.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,040-2,270 lira ($268-299) per tonne on Monday, unchanged week-on-week."Imported scrap prices have remained on a sideways track in the past couple of wee...Read More
The seaborne premium hard coking coal fob index jumped on Monday September 21 due to bullish sentiment in the market, with traders in China also being positive about the material's performance in the cfr market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $128.79 per tonne, up by $5.84 per tonnePremium hard coking coal, cfr Jingtang: $135.84 per tonne, up by $1.43 per tonneHard coking co...Read More
Seaborne iron ore prices fell on Monday September 21 as a result of stricter environmental restrictions being imposed on steelmakers in the hub of Tangshan, trade sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $119.82 per tonne, down $5.08 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $120.05 per tonne, down $4.97 per tonne. 58% Fe fines high-grade premium, cf...Read More
Seaborne iron ore pellet prices continued outperforming iron ore concentrate in the week to Friday September 18, but with the end of sintering restrictions in China, demand for both has how begun to fall back.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $135.56 per tonne, down $2.17 per tonne65% Fe blast furnace pellet, cfr Qingdao: $147.25 per tonne, up $0.65 per tonneKe...Read More
China's domestic ferrous scrap prices lost their upward momentum over the past week amid a weakening of the downstream steel market, snapping three weeks of increases for the steelmaking raw material.But market participants are not expecting scrap prices to decrease further until China's week-long break from October 1 to mark its National Day.Fastmarkets' weekly price assessment for steel scrap he...Read More
Domestic hot-rolled coil prices weakened on Monday September 21 amid thin trading, which led a mill in eastern China to lower its export offer for the flat steel product, sources told Fastmarkets.DomesticEastern China (Shanghai): 3,840-3,860 yuan ($567-570) yuan per tonne, down 20-30 yuan per tonneTrading was inactive on Monday amid losses in the futures market, according to sources.Sellers in the...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part little changed to firmer this morning, Monday September 21, with only December nickel in Shanghai showing a loss.But with Asian-Pacific equities and pre-market major western equity index futures weaker, the metals may face headwinds today.Dollar, US treasuries and gold all consolidating, waiti...Read More
Iron ore prices rebounded on Friday September 18 amid active trading in the seaborne market and in ports, while low-grade fines performed well on solid demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.90 per tonne, up $2.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.02 per tonne, up $2.43 per tonne58% Fe fines high-grade premium, cfr Qingdao: $115.46 per tonne, up $3.18...Read More
Key data from the pricing session in London on Friday September 18. Key drivers Sellers were reluctant to offer below $175 per kg and some deals were achieved at the top of end of the new range, pushing the assessment to its highest in 18 months. Chinese price rises had driven the European assessment up since early September, but domestic Chinese suppliers reduced their offer pric...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 transparency into the markets it covers and the pricing process...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the...Read More
Cobalt hydroxide prices and payables continued to firm last week as suppliers successfully held out for higher numbers amid optimism derived from China's State Reserve Bureau (SRB) stockpiling drive, and interest from consumers and the trade to restock.Fastmarkets' cobalt hydroxide index, 30% min Co, cif China was calculated at $11.94 per lb on Friday September 18, up 0.7% from $11.86 per lb on Se...Read More