China's domestic rebar prices maintained the upward trend on Friday September 3, with demand picking up ahead of the weekend.DomesticEastern China (Shanghai): 5,270-5,300 yuan ($816-820) per tonne, up by 50-60 yuan per tonneNorthern China (Beijing) weekly assessment: 5,140-5,170 yuan per tonne, up by 120-130 yuan per tonneBuyers raised procurement rates for consumption in the coming weekend, pushi...Read More
Base metals prices were mixed during the morning session on the London Metal Exchange on Friday September 3, with aluminium and lead trending downward after holding high levels earlier this week, and copper prices increasing.Three-month aluminium lost $14 from Thursday's closing price to $2,681 per tonne. It reached a year-to-date high of $2,734.50 per tonne on Thursday, but failed to hold those l...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Friday September 3, but overall the picture is one of consolidation ahead of today's employment report from the United States.China's Caixin services PMI dropped to 46.7 in August, from 54.9 in July, switching from expansion to contractionThe US Dollar Index continues to retreat Base metalsTh...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday September 3.ChinaSpot silico-manganese and ferro-manganese prices surged, with looming supply concerns after Guangxi province ordered production restrictions early in the week. The strong performance of silico-manganese futures increased bullish sentiment.Hebei Iron & Steel Group (HBIS) set its...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
Key data from Fastmarkets' pricing session on Friday September 3.Key drivers September has been a busier month with plenty of activity so far with a pick-up in spot demand following the summer lull. The bottom end of the alloy grade market regained...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 at...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.....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 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
Major mills in China paid higher prices for domestic scrap amid bullish sentiment in the finished steel markets on Friday September 3, providing support for imported scrap spot prices, sources told Fastmarkets. Chinese domestic buy prices rebound, keep import prices supportedMajor Vietnam holiday dampens spots liquiditySouth Korea books New Zealand scrapChinaThe purchase prices for domestic steel...Read More
Taiwanese steel mills have shifted their buying focus toward bulk Japanese H1&H2 (50:50) scrap in light of the shortage of containerized heavy-melting scrap (HMS) 1&2 (80:20) from the United States West Coast.Bids increased to $465-468 per tonne cfr Taiwan on Friday September 3, up from $460-465 per tonne cfr Taiwan mid-week.There was a transaction concluded at $465 per tonne cfr Taiwan earlier in...Read More
The global aluminium industry needs to work collaboratively and faster to deal with carbon emissions, and social and governance challenges, executives said during a sustainability panel discussion at Fastmarkets' International Aluminium Conference on Friday September 3.Such industry-wide movement will also need large investments to materialize, which could come from the private sector, the governm...Read More
Anglo-Australian miner Rio Tinto will offer its benchmark iron ore fines, Pilbara Blend Fines (PBF), against an average of three indices from Thursday September 2, the Beijing Iron Ore Trading Centre (Corex) said this week.Fastmarkets' index for iron ore 62% fines will form one third of the basket index, which also includes the average of indices produced by two other price reporting agencies.The...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 2 that are worth another look.The anticipated agreement between the European Union and the United States on Section 232 tariffs would boost flat-steel export sales to the US and, consequently, reduce domestic EU availability, triggering a price rise in Europe, European...Read More
Lead was the best performer on the London Metal Exchange at the end of trading on Thursday September 2, reaching its highest price in the past week, while most other metals in the base-metals complex remained around their Wednesday prices.Lead's three-month contract rose to as much as $2,315 per tonne on Thursday, and closed the session at $2,312.50 per tonne, up from Wednesday's 5pm price of $2,2...Read More
Non-binding offers have been made for the purchase of Glencore's warehousing and logistics firm, Access World, with the official due diligence process now underway, according to sources familiar with the matter.At least three Asia-based bidders are in the final stages of the process, which will require firm offers to be submitted at the end of the month, sources told Fastmarkets.A number of compan...Read More
Bauxite refining and alumina production will resume at New Day Aluminum's facility in Gramercy, Louisiana, in the United States, after operations were halted due to Hurricane Ida, major shareholder Concord Resources said on Thursday September 2.The Gramercy facility is the only remaining alumina refinery in the US."Alumina production at Gramercy went into a planned curtailment on Sunday morning as...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 2 that are worth another look.The anticipated agreement between the European Union and the United States on Section 232 tariffs would boost flat-steel export sales to the US and, consequently, reduce domestic EU availability, triggering a price rise in Europe, European...Read More
China's cobalt tetroxide prices drifted lower in the week to Wednesday September 1, due to weak demand from battery producers, while cobalt sulfate prices remained rangebound, with producers rejecting lower bids.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China fell to 275,000-285,000 yuan ($42,562-44,110) per tonne on September 1, down from 282,000-292,000 yuan per...Read More