The opposing forces taking hold of prices in the iron ore and coking coal markets could spill over in the first quarter of 2022 due to their differing fundamentals and Chinese policy, according to market sources.Depressed iron ore vs bullish coking coalIron ore prices have been falling since early July due to cues from the Chinese government that crude steel production in 2021 should not exceed th...Read More
Domestic hot-rolled coil prices in China gained more upward momentum on Wednesday September 29, with sentiment supported by reduced production as a result of power cuts and a rush to meet energy consumption targets.DomesticEastern China (Shanghai): 5,730-5,780 yuan ($886-894) per tonne, up by 10-30 yuan per tonneHRC futures were more subdued during the day compared with the first two days of the w...Read More
Base metals prices edged down in morning trading on Wednesday September 29, with weakness in across the complex supported by the rising US Dollar Index, which pushed up to its highest level since November 2020."Copper and most of the other metals [prices fell] on Wednesday, with Asian equities suffering from a global stock sell off," Marex LME desk analyst Anna Stablum said."Wall Street [had its]...Read More
Rebar prices in Shanghai increased on Wednesday September 29 on restocking ahead of the National Day holidays, but demand is expected to drop in areas in north, east and central China on plans to start dust inspections at construction sites from October 1 to March 31, 2022.DomesticEastern China (Shanghai): 5,830-5,870 yuan ($902-908) per tonne, up by 40 yuan per tonneThe Ministry of Ecology and En...Read More
Base metals prices were mixed on the morning of Wednesday September 29 while they consolidated against a backdrop of numerous headwinds. Uncertainty has picked up regarding how high US treasury yields and the dollar will go and what will the fallout be if China's Evergrande starts defaulting on foreign-owned debt. China's power rationing set to hit metal production and manufacturing, and in turn s...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibbs...Read More
Spain-based ferro-alloys producer Ferroglobe has temporarily shut another furnace in the country due to expensive energy prices, according to reports and trade sources on Tuesday September 28.The company, which recently shut a silicon furnace at its Sab??n plant in Spain, has also idled a silico-manganese furnace at its Boo plant in Santander, on the northern coast of the country. Officials a...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 29.Key driversThe European ferro-titanium and titanium scrap markets were stable in the seven days to September 29, steady for a fourth consecutive week.Suppliers said there are buying inquiries but there have been no deals reported, and offer prices are on hold until renewed demand emerges from consumers in the...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...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.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
Export prices for Chinese heavy steel plate softened in the week to Tuesday September 28 amid an inactive market ahead of China's National Day break over October 1-7. Offer prices will probably increase after the holiday due to electricity consumption limits being imposed in various parts of the country, a source said.Fastmarkets' weekly price assessment for November/December shipments of steel he...Read More
Base metals prices were mostly slightly up on the LME but weaker on the SHFE this morning, Thursday September 30, but overall the markets seem to be consolidating while they await big-picture developments.* China’s power rationing weighs on the official manufacturing purchasing managers index (PMI)* The Thursday economic agenda is busy* US dollar rallying stronglyBase metalsAfter price weakne...Read More
Next Tech Talk report is scheduled to be released on Monday October 4thPre-opening Comments for Thursday September 30thU.S. equity index futures were higher this morning. S&P 500 futures were up 17 points at 7:00 AM EDTU.S. equity index futures were waiting for release of an updated annualized second quarter real GDP growth report at 8:30 AM EDT. Consensus is unchanged from the previous estima...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 28 that are worth another look.The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a...Read More
The Brazilian steel and aluminium sectors are preparing for a period of short electricity supply in the coming months due to a persistent drought in a country heavily reliant on hydroelectric power generation.A drought has reduced water reservoirs in Brazil, mainly in southeastern and midwestern states, leading to an electricity cost spike and fears of blackouts or even mandatory power rationing t...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
Copper concentrates shipment from MMG's Las Bambas mine in Peru will be delayed after operations were disrupted by a community blockade, the company said at a regulatory filing on Monday September 27.The Australian-Chinese miner said in a notice to Hong Kong Stock Exchange that its mining supply could not be transported due to community protests in...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 28 and their latest price moves.China Imported charge chrome prices continued to rise strongly; consumers who needed spot material in the tight market accepted higher offers.Spot ferro-chrome prices surged in the past week amid strict electricity controls in major production hubs, which tight...Read More
Automotive manufacturer Ford Motor Co plans to spend $11.4 billion on new production sites in the United States for electric vehicles (EVs) and their batteries as part of its push to bring zero-emission auto production to the country.One site will be in Stanton, Tennessee, where the company will build electric versions of its F-Series pickup truck as well as advanced batteries. To be known as Blue...Read More
Swedish special steel producer Ovako is to introduce a "climate surcharge" to support initiatives and new technology investments as its production goes carbon-neutral from January 2022, the producer announced on Tuesday September 28.The company says it has reduced carbon emissions significantly through efficient processes, the use of fossil-free electricity and dedicated investments such as conver...Read More