Stainless steel sheet prices in the United States continued trending upward in September, with several market participants predicting spot prices will rise further in the coming weeks.Fastmarkets' monthly assessment for stainless steel 304 cold-rolled sheet, fob mill US was $184.75 per hundredweight ($3,695 per short ton) on Friday September 10, up by 3.21% from $179 per cwt on August 10 and up by...Read More
Non-ferrous scrap exports from the United States rebounded by 5.90% in July to 277,925 tonnes from 262,447 tonnes in June, according to latest US Commerce Department data. Total non-ferrous scrap exports for the January-July period also shot up 15.28% to 1.88 million tonnes from 1.63 million tonnes in the same period last year.Aluminium Aluminium scrap exports - excluding used beverage cans (...Read More
Base metals prices on the London Metal Exchange largely edged up on the morning of Wednesday September 15 after a day of weakness, but those on the Shanghai Futures Exchange were weaker because they followed movements in London on Tuesday and reacted to weaker Chinese economic data.* China retail sales rose by just 2.5% in August after a 8.5% rise in July* Chinese industrial production climbed 5.3...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Index futures were virtually unchanged following released of economic news at 8:30 AM EDT. Consensus for the September Empire State Manufacturing Survey was a slip to 17.2 from 18.30 in August. Actual was an increase to 34.3 The Canadian Dollar added 0.10 to US78.88 cents following release of...Read More
Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...Read More
Coking coal prices in the fob market jumped on Monday September 13 due to tight supply; domestic coking coal supply in China was also tight, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $487.33 per tonne, up $6.68 per tonneHard coking coal, cfr Jingtang: $446.56 per tonne, up $2.52 per tonnePremium hard coking coal, fob DBCT: $362.10 per tonne, up $28.98 per...Read More
Seaborne iron ore prices inched down on Monday September 13 due to weak buying interest from end users, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.84 per tonne, down $5.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, down $6.09 per tonne58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, down $6.13 per tonne65% Fe Br...Read More
Fastmarkets proposes to change the frequency of its iron ore value-in-use indices from weekly to daily.Fastmarkets' iron ore value-in-use adjustments for iron, silica, alumina and phosphorus are currently weekly indices with a data inclusion cut-off time each Friday at 6pm Singapore local time, and a publication time each Monday at 6.30pm Singapore local time. The chemistry adjustments represent t...Read More
Rebounding billet import prices in China are supporting rebar spot prices in Singapore, sources toId Fastmarkets during the week to Monday September 13.The active buying of imported billet by traders to sell to Chinese rerollers has caused sentiment in Asia for semi-finished and long steel to rebound, a buyer source in Singapore said."With billet being sold at almost $720 per tonne cfr China, it i...Read More
ArcelorMittal Nippon Steel India (AM/NS India) has started up a second 6-million-tonne-per-year pellet plant at its Paradeep complex in Odisha, taking the company's pelletization capacity to 20 million tpy, the company said earlier this month.The Paradeep complex will have capacity to produce 12 million tpy of direct reduced iron ore pellet after the commissioning of the second stage of production...Read More
Coal exports from Australia's metallurgical coal hub of Queensland increased by 3.2% in August from the same period in 2020. They were also 2% higher month on month.Some 17.20 million tonnes of coal - including some thermal coal - were shipped from the region last month, compared with 16.66 million tonnes a year earlier and 16.87 million tonnes in July, according to data from North Queensland Bulk...Read More
Spot prices for hot-rolled coil in China's domestic market held stable on Monday September 13, supported by expectations of a decline in supply due to more local governments stepping up efforts to curb energy consumption.DomesticEastern China (Shanghai): 5,850-5,900 yuan ($906-914) per tonne, narrowing downward by 20 yuan per tonneSouthwest China's Yunnan province requires steel mills across the r...Read More
Prices for most metals fell on Monday September 13, except for aluminium, which set a new 13-year high of $3,000 per tonne on Monday.Monday's price drops came after most metals reached year-to-date highs on Friday September 10.Nickel's three-month price was down to $19,870 per tonne on Monday morning, a 2.6% decrease from its closing price of $20,392 per tonne on Friday.The stainless-steel metal r...Read More
Base metals prices were mixed on both the LME and the SHFE this morning, Monday September 13. But while the mood in broader markets remains somewhat negative, the base metals seem to be entering the post-summer period in a more bullish mood. There is a barrage of key Chinese economic data out this week, which the market is likely to watch closely for signs that the Chinese economy is slowingBase m...Read More
Key data from Fastmarkets' pricing session in Europe on Monday September 13.Key drivers Spot activity has started to pick up, with the international cobalt metal price showing continued gains over the past week. Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam, was $24.00-24.60 per lb on September 13, compared with...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...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.Read More
Key data from Fastmarkets' pricing session in London on Friday September 10th.Key drivers: There is market talk of factory closures in Lengshuijiang, Hunan Province due to high antimony content in Zijiang River, which is located there. The central government has ordered all metal refineries in...Read More
Key data from Fastmarkets' pricing session in China on Friday September 10.Key driversChina's cobalt metal price moved up amid continuous rising local futures prices and tight spot supply among sellers. Some buyers restocked small-volume materials, but others remained cautious.The cobalt tetroxide price increased further, with most producers insisting...Read More
A pick-up in buying interest in the ferro-silicon market from consumers in the European steel sector has pushed prices to levels not seen since Fastmarkets started to assess the market, with more record highs likely to be set in the coming weeks.A combination of firm fundamentals, an acute container shortage, record high freight rates, and production and transport issues have boosted ferro-silicon...Read More