Increasing expectations of tighter production curbs in China have put pressure on scrap demand from steel mills in the country, weighing down imported scrap prices, sources told Fastmarkets on Wednesday September 22. Sentiment in China sours because buyers expect tighter production curbsTaiwanese buyers keep bids stableShredded import prices rangebound in IndiaChinaBids for import cargoes of steel...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed to decarbonize the shipping industry.The call to action was signed by more than 150 industry leaders and organizations representing the entire maritime value chain, including shipping, cargo, energy, finance, ports and infr...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Seaborne iron ore prices rose sharply on Wednesday September 22 amid firmer prices traded on front-month swaps and on Chinese futures, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $108.70 per tonne, up $15.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $110.65 per tonne, up $16.69 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.25 per tonne, up $11.38 per tonn...Read More
Galvalume prices in the United States climbed to an all-time high for a ninth consecutive month, with market participants projecting that the rally might be coming to an end due to a recent upsurge in imports."Time is on our side," a distributor source said. "During the fourth quarter, imports will lead the way." Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 22.Janie Davies and Cristina...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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
Turkish steel mills again stayed away from the deep-sea scrap market on Wednesday September 22, with their requirements seemingly met by last week's purchases, market participants told Fastmarkets.Turkish steel mills remained absent from the deep-sea scrap market on Wednesday September 22, with their requirements seemingly met by last week's purchases, market participants told Fastmarkets.Mills ha...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, $/lb...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 23 points in pre-opening trade.The Canadian Dollar was quiet at US78.93 cents prior to release of the July Canadian Retail Sales Report at 8:30 AM EDT. Consensus is an increase of 4.4% versus a gain of 4.2% in June.BlackBerry added $0.89 to US$10.45 after reporting higher than consensus second quarter revenues.KB Homes...Read More
CIS billet exporters saw some signs of support from China as the country's long-steel market opened stronger after the Mid-Autumn Festival ended on September 21.China's domestic rebar prices moved up sharply on Wednesday September 22 on market participants' expectations of supply cuts in the remaining months of 2021.Fastmarkets' daily price assessment for steel reinforcing bar (rebar) domesti...Read More
Dip buying and the resumption of trading in Asia gave a boost to most metals on the LME on the morning of Wednesday September 22, with tin rising the most while lead was the only metal still trending to the downside. Tin's futures contract was up 5% on Wednesday at 9am to $35,500 per tonne, compared with Tuesday's $33,820 per tonne, with the metal also hitting $35,680 per tonne during early tradin...Read More
Domestic prices for hot-rolled coil continued to decline across Europe on Wednesday September 22, mainly due to weak demand from the automotive sector and spot buyers holding sufficient stocks, sources told Fastmarkets.The reduced consumption by car manufacturers was a result of the global shortage of semiconductor chips for onboard electronics, with some volumes of flat steel being redirected to...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton ($2.50 per cwt) in September, to fresh record highs for both domestic and import product.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $57.50-60.50 per hundredweight ($1,150-1,210 per ton) on Tuesday September 21, up by 2.61% from $56-59 per cwt on August 1...Read More
Key data from Fastmarkets' pricing session in the United Kingdom on Wednesday September 22.Key drivers:Secondary aluminium ingot prices in the UK rose in the week to Wednesday September 22 on record high scrap prices that continued to increase the manufacturing costs for secondary ingots.LM6/25 prices were up by over ?70 per tonne, with most sellers pushing offers above ?2,100 per tonne and...Read More
Domestic hot-rolled coil prices in China were largely stable but in a wider range on Wednesday September 22, even as futures prices in the ferrous complex jumped on the first trading day after a three-day holiday for the Mid-Autumn Festival.DomesticEastern China (Shanghai): 5,720-5,800 yuan ($885-897) per tonne, widening by 10-20 yuan per tonneAfter oscillating in negative territory for most of th...Read More
Stainless steel scrap 304 prices hit a wall on Tuesday September 21, due to the London Metal Exchange cash nickel price plummeting 52 cents per lb since September 17 when it was $9.10 per lb."Quite a drop [in the LME cash nickel price], and market prices for stainless steel scrap are already too high relative to mill pricing, so we are pulling back," one processor said.Stainless processors are alr...Read More
Base metals prices were mixed on both the LME and SHFE on Thursday September 23, with the broader markets welcoming the news that Chinese property giant Evergrande has avoided imploding, for now, and not spooked by the US Federal Reserve's more hawkish outlook.* Chairman Jerome Powell says the United States Federal Reserve could “easily move ahead” with its decision about when to taper*...Read More