Seaborne iron ore prices rose on Tuesday August 11, with supply concerns developing because the Chinese government may extend the processing time for import licenses, while the high price for mid-grade fines has pushed mills to adjust their brand usage.Fastmarkets iron ore indices(Comparisons with August 7 due to National Day holiday in Singapore on August 10.)62% Fe fines, cfr Qingdao: $121.09 pe...Read More
Prices for seaborne iron ore concentrate and pellets went up last week amid an uptrend in the futures market, though demand remained weak, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $124.47 per tonne, up $9.91 per tonne65% Fe blast furnace pellet, cfr Qingdao: $131.04 per tonne, up $5.68 per tonne Key driversMarket participants said surging iron ore futur...Read More
China's domestic rebar prices rose on Tuesday August 11 to regain losses of a day earlier amid a strengthening of demand.Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($523-527) per tonne, up by 30 yuan per tonneBuyers raised their procurement rates in the earlier part of the day amid rising futures. The increased demand pushed up spot rebar prices.But demand dropped in the late afternoon af...Read More
Key data from the pricing session in London on Tuesday August 11.Key driversMetal prices moved higher with prices in the $14s no longer available for either alloy-grade or standard-grade metal. Lower bids went untapped and sellers successfully raised their offer prices against a backdrop of high raw materials...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 the price of cobalt standard grade, in-whs Rotterdam, at $15-15.30 per lb on Tuesday August 11, 20...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...Read More
Stainless steel cold-rolled sheet prices in the United States mostly moved in line with surcharges in August, with some buyers remaining on the sidelines until demand improves. Fastmarkets' price assessments for stainless steel 304 cold-rolled sheet, fob mill US and for stainless steel 304L cold-rolled sheet, fob mill US both rose by 50 cents per hundredweight to $117.50 per cw...Read More
Increased choppiness in the base metals in recent days suggests the bullish and bearish camps are getting more balanced and a new fight for supremacy is unfolding.This morning, Wednesday August 12, the bears have the upper hand, with base metals prices down on the London Metal Exchange and Shanghai Futures Exchange - both complexes were down by an average of 1.4% as at 6.20am London timeWider mark...Read More
Italy iShares (EWI) moved above $26.32 extending an intermediate uptrend.Morgan Stanley (MS), an S&P 100 stock moved above $53.14 extending an intermediate uptrend.Royal Bank (RY), a TSX 60 stock moved above $98.27 extending an intermediate uptrend. Nutrien (NTR), a TSX 60 stock moved above $51.76 extending an intermediate uptrend.Inter Pipeline (IPL), a TSX 60 stock moved above $14.58 extendi...Read More
Here are five Fastmarkets stories you might have missed on Monday August 10 that are worth another look.Production activity has come under threat at Belarus Steel Works (BMZ) with workers protesting against the result of the country's presidential election on Sunday August 9.Liberty House Group,...Read More
Copper futures on the London Metal Exchange sold for more than $6,400 per tonne in afternoon trading on Monday August 10, starting the week on the front foot after a slump last Friday.At the 5pm close, 3-month copper futures were settled at $6,395 per tonne, a 1.4% gain from last Friday, when news of Chilean supply strength proved negative for market sentiment. The price had been as high as $6,428...Read More
Liberty House Group, part of GFG Alliance, is interested in purchasing Alcoa's San Cipri??n aluminium smelter in Spain, sources told Fastmarkets. Alcoa launched an informal process with the workers' representatives to discuss collective dismissals at San Cipri??n on May 28. The company announced last week that the formal consultation period for collective staff dismissals at the Spanish aluminium...Read More
Liberty House Group, part of GFG Alliance, is interested in purchasing Alcoa's San Cipri??n aluminium smelter in Spain, sources told Fastmarkets. Alcoa launched an informal process with the workers' representatives to discuss collective dismissals at San Cipri??n on May 28. The company announced last week that the formal consultation period for collective staff dismissals at the Spanish aluminium...Read More
Fastmarkets will change the publication day of its European and seaborne price assessments, indices and indicators covering chrome ore and ferro-chrome to Tuesday, from Friday.Fastmarkets will change the publication day of its European and seaborne price assessments, indices and indicators covering chrome ore and ferro-chrome to Tuesday, from Friday. The prices involved are: MB-FEC-0004 - Fer...Read More
Here are five Fastmarkets stories you might have missed on Monday August 10 that are worth another look.Production activity has come under threat at Belarus Steel Works (BMZ) with workers protesting against the result of the country's presidential election on Sunday August 9.Liberty House Group,...Read More
Cobalt intermediates prices continued to climb up on limited spot availability while demand remained healthy after some smelters opted to restock in light of the strong upswing in cobalt salts' prices, Fastmarkets heard. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China moved higher to 76.5-77.5% against standard-grade cobalt price (low end) on Friday August 7, up 1% from the...Read More
The domestic ferrous scrap sector in the United States is enjoying renewed strength that is expected to continue through September - and possibly longer - due to a robust export market, constrained supply and improving steel mill run rates that have created a sellers' market."Mills have been out of the market and have burned through inventory and will have to come back for a lot more. The blip of...Read More
The Turkish steel producers have continued their purchases of deep-sea scrap for September shipments, sources said on Monday August 10.Three steel mills booked cargoes from the Baltic Sea and the United States late on August 7.A steel mill in the Iskenderun region booked a US cargo, comprising 18,000 tonnes of HMS 1&2 (90:10) at $288 per tonne, 3,000 tonnes shredded at $290 per tonne and 6,000 ton...Read More
Fastmarkets is proud to launch its first monthly Ferrous Analytics report, which will help subscribers keep track of hot metal costs and steel production spreads in China, as well as key pricing components of the steelmaking raw materials supply chain in Asia.Readers will find raw material-finished steel spreads, iron ore differentials and scrap differentials all calculated and condensed...Read More
Markets are looking mixed this morning on Monday August 10, while traders weigh up the cross winds blowing through the markets, Fastmarkets learned.United States President Donald Trump's intervention to step in to extend unemployment benefit after Congress failed to come up with a rescue package has provided some support, but his executive orders focused on Chinese tech companies only go further t...Read More