The hard coking coal cfr price rose on Thursday September 16 after Wednesday's surge in the premium hard coking coal cfr price, while offer prices for US-origin coking coal rose further, with market participants in China reluctant to procure material.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $560.76 per tonne, up $0.76 per tonneHard coking coal, cfr Jingtang: $486.93 per tonne, up...Read More
Seaborne iron ore prices continued to fall on Thursday September 16 amid sustained demand weakness, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $107.21 per tonne, down $9.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $108.16 per tonne, down $9.64 per tonne58% Fe fines high-grade premium, cfr Qingdao: $79.65 per tonne, down $8.88 per tonne65% Fe...Read More
Australian miner Whitehaven Coal's Vickery Extension Project has been approved by the federal government, it said on Thursday September 16.The project comprises an open-cut coal mine and other infrastructure about 25km north of Gunnedah town in New South Wales. It will produce mainly coking coal for steelmaking, with the rest being high-quality thermal coal for export.The mine...Read More
Domestic hot-rolled coil prices in China rose on Thursday September 16, with the latest industry data pointing to continued declines in both output and inventories.DomesticEastern China (Shanghai): 5,780-5,830 yuan ($897-904) per tonne, up by 50-70 yuan per tonneThe China Iron and Steel Association (Cisa) said on Thursday morning that daily output of crude steel from its member mills averaged 2.04...Read More
Domestic rebar prices in China recovered from two days of decreases on Thursday September 16 on a pick-up in demand with improved weather. DomesticEastern China (Shanghai): 5,580-5,620 yuan ($867-873) per tonne, up by 100 yuan per tonneWith Typhoon Chanthu moving away from China after landing in Zhejiang province late last week, the weather in most parts of the...Read More
Deliveries of stainless steel in China have been disrupted by an outbreak of Covid-19 in the major production hub of Fujian, but the resultant tightened supply failed to support stainless steel prices in the week ended Wednesday September 15.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,000-19,700 ($2,949-3,057) per tonne, down by 300-500 yuan per tonne from a week ear...Read More
Global trade flows of cobalt metal have been frozen by logistics disruptions including high freight costs and a shortage of available containers, market participants have told Fastmarkets.Cobalt metal is a highly liquid commodity, with traders moving metals on their books around the globe depending on price differentials between Asia and Europe.But in the past 2-3 months, such trade flows have bee...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 Cobalt alloy...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
Open Mineral has raised $33 million in a series C investment round that saw Mubadala Investment Co, Statkraft and Lingfeng Capital take stakes in the company.Founded in 2017 by former Glencore asset managers Boris Eykher and Ilya Chernilovskiy, Switzerland-based Open Mineral aims to apply digital tools and transparency to the world of metal concentrates trading.Having started with an online platfo...Read More
Steelmaker Arvedi is in the process of purchasing fellow Italian stainless steel producer Acciai Speciali Terni (AST) from Thyssenkrupp, the German steelmaker said on Thursday September 16.The sale, which is subject to approval by Thyssenkrupp's supervisory board and merger control clearance, also includes associated sales organizations in Germany, Italy and Turkey. The sale is expected to be comp...Read More
Imports of aluminium scrap into the United States fell by 6.22% month on month to 62,949 short tons in July compared with 67,130 short tons the month prior after a rise in deliveries of used beverage cans (UBCs) was outweighed by a drop in volumes of industrial and other aluminium scrap, according to the latest data from the US Commerce Department. But year-to-date aluminium scrap deliveries total...Read More
Growing domestic and international demand for copper scrap has reduced discounts in the copper scrap market in the United States. "Demand is out of control globally. Spreads are coming in good," one seller said.China in particular is "very hungry for copper scrap," another seller said. "Maybe with the changing quality standards, they're getting less material offered to them. But if you c...Read More
The Chinese government will continue to release more of its copper, aluminium and zinc reserves to guide prices to a "reasonable" range, China's National Development & Reform Commission (NDRC) said on Thursday September 16."Now, prices for copper, aluminium and zinc are still high. [The NDRC] will closely monitor these markets, and to continue sell materials from state reserves in order to guide p...Read More
Base metals prices on the LME and SHFE were mixed on the morning of Friday September 17, with most remaining listless despite being buffeted by a firmer US dollar, generally weaker economic data and disruption to both production and supply.Broader markets were quiet but firmer heading into the weekend and China's Mid-Autumn Festival holiday takes place on Monday and Tuesday.Base metalsThree-month...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade.Lululemon was unchanged at $426.40 after Oppenheimer raised its target price from $405 to $520.Union Pacific added $0.18 to $203.62 after Deutsche Bank raised its target price from $225 to $256.Adobe improved $4.03 to $665.11 after Mizuho increased its target price from $640 to $695. ...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 15.Please click...Read More
London Metal Exchange prices bounced back on September 15, with lead the only metal under selling pressure. Aluminium had an intraday high of $2,924 per tonne. This is its highest price since it touched $3,000 per tonne on Monday prior to the sell-off on Monday afternoon. Its closing price was lower, at $2,893 per tonne, but still 2.2% higher than Tuesday's closing price. Similarly, nickel's...Read More
Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before decliningUS market continues to be strongShanghai premiums rise ahead of holidayChina'...Read More
Producers continued to raise their offer prices for low-carbon ferro-chrome during the week to Tuesday September 14 amid tight supply, high costs and uncertain logistics.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe was $2.78-3.10 per lb Cr on Tuesday, an increase of 5 cents, or 1.7%, from $2.73-$3.05 per lb Cr one week earlier."Several of the producer...Read More