A summary of Swedish state-owned iron-ore producer LKAB's financial results for the second quarter - April 1-June 30 - of 2020.In brief LKAB attributes its decreased earnings for the second-quarter period to lower prices for highly upgraded iron ore products.Fastmarkets's iron ore index for 62% Fe fines, cfr Qingdao averaged $93.52 per tonne in the second quarter 2020, down from $100.92 per tonne...Read More
Prices for mid-grades of iron ore went down on Thursday August 13 with the expectation of an easing of the cargo congestion at ports in China, sources have told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $121.38 per tonne, down by $0.13 per tonne.62% Fe low-alumina fines, cfr Qingdao: $120.55 per tonne, down by $0.45 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $...Read More
Prices for bulk cargoes of steel scrap imported to Bangladesh jumped over the last seven days following two fresh deals from the United States West Coast, sources told Fastmarkets on Thursday August 13.Market participants said that Bangladeshi mills have booked at least four bulk scrap cargoes over the last three weeks, with three different mills purchasing material.One deal was closed for 8,000 t...Read More
Seaborne coking coal prices declined across the board on Thursday August 13 except for premium hard coking coal in the fob market, where market sources said trading was relatively active. Fastmarkets indicesPremium hard coking coal, fob DBCT: $104.99 per tonne, up $0.57 per tonne Premium hard coking coal, cfr Jingtang: $114.87 per tonne, down $0.99 per tonneHard coking coal, fob DBCT: $85.02 per t...Read More
China's domestic hot-rolled coil prices were largely stable on Thursday August 13, while overseas buyers have started to seek out cheaper position cargoes.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($582-585) per tonne, widening upward by 10 yuan per tonneSeveral Shanghai-based traders said transaction prices of 4,040-4,050 yuan per tonne were the most dominant during the day, the same as...Read More
China's domestic rebar prices stopped dropping on Thursday August 13 on steady demand from the construction sector.Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($520-524) per tonne, unchangedA trader in Shanghai said his rebar sales volume during the day was the same as a day earlier, which kept him from lowering prices further.Market participants expect rebar demand to remain stable for th...Read More
Base metals prices on the London Metal Exchange were under pressure across the board this morning on Thursday August 13, with the copper price dipping 1.2%. The three-month copper price dropped by $82.50 this morning, recently trading at $6,350 per tonne, with upward movement capped by political stalemate. "The deadlock over a new stimulus deal in the US capped prices, while a softer US dollar in...Read More
The cobalt standard grade, in-whs Rotterdam 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 it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at $15.05-15.30...Read More
The cobalt alloy grade, in-whs Rotterdam 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 it applies. Fastmarkets...Read More
Western Australia-based miner South32 will sell its entire stake in manganese alloy smelter Tasmanian Electro Metallurgical Co (Temco) to UK-based conglomerate GFG Alliance, it said on Thursday August 13.The miner - which is listed on the stock exchanges in London, Australia and Johannesburg - owns manganese ore and alloy assets in South Africa and Australia through its stake in Samancor Manganese...Read More
Key data from the pricing session in Europe on Wednesday August 12.Key drivers The ferro-titanium market fell by 8.3% to reach its lowest level since January 16, 2017 - when the market was trading at $3.30-3.50 per kg - after three consecutive weeks of stable prices. Business was concluded in the new range but liquidity remains...Read More
Key data from Fastmarkets' pricing session in China on Wednesday August 12. Key driversProducers in China continued to increase their offer prices this week after noticing that previously raised offers were accepted by buyers last week.But the continued rise in spot prices this week stifled some buying interest, according to market sources.Reduced supply in the spot market was cited as one of the...Read More
Markets across the board were in consolidation mode this morning, Thursday August 13, with metals and Asian-Pacific equities mixed, while pre-market major western equity index futures were weaker. Traders seem to be waiting to see if US Congress can agree on a pandemic recovery fund and how the United States-China trade talks go this weekend when they review the phase one trade deal. High volumes...Read More
Greatpower Technology Co's background in trading has made it more flexible in its operations and sensitive toward prices as a producer of nickel and cobalt, which will benefit it in the longer term, its president, Aaron Cao, said in a recent interview with Fastmarkets."Due to our trader origins, there were some obstacles when we initially transitioned to becoming a producer because downstream cons...Read More
China's domestic and export prices for stainless steel maintained their upward trend over the past week despite lower demand than the preceding week.Nickel losses since last Friday sapped demand for stainless steel products, market sources said.The three-month nickel contract on the London Metal Exchange ended Tuesday August 11's official trading session at $14,185 per tonne, down by $248 per tonn...Read More
Applied Materials (AMAT), a NASDAQ 100 stock moved above $66.95 to an all-time high extending an intermediate uptrend. Target price was raised by Mizuho and Stifel Nicolaus this morning. Pre-opening Comments for Friday August 14thU.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures moved slightly higher following release of...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 12.Please click...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Wednesday August 12, with high turnover during the day prompting a push beyond key resistance levels, while a morning inflow of 15,225 tonnes of zinc saw selling pressure continue into the close.Copper's outright price closed at $6,432.50 per tonne on Wednesday afternoon, up from an intraday low of $...Read More
ABN Amro will end its financing activities of commodity clients globally, it said on Wednesday August 12.The Dutch bank will stop all non-European corporate financing, which accounts for around 45% of its current client loan portfolio, and will wind down units in the United States, Asia, Australia and Brazil, in a process expected to take around three to four years."The Trade & Commodity Finance a...Read More