Seaborne coking coal prices were up in both the cfr and fob markets on Wednesday September 1, although sources at two major mills in China said they did not want to buy at such high prices.Domestic first-tier coking coal prices in China, meanwhile, increased in fourth-quarter long-term contracts and coke prices increased for the eighth round since the start of August, sources said. Fastmarket...Read More
Shanghai bonded aluminium stocks rose significantly in August after numerous cargoes were sent to China during the month amid expectations that China's arbitrage window will reopen soon.Fastmarkets assessed Shanghai bonded aluminium stocks at 105,000-106,000 tonnes on Tuesday August 31, a 63.6% increase from 64,000-65,000 tonnes on July 30 and more than 13 times higher than the year-ago stock leve...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
Hot-rolled coil prices in China extended their losses on Wednesday September 1 due to persistent concerns over demand and waning cost support.DomesticEastern China (Shanghai): 5,650-5,670 yuan ($874-877) per tonne, down by 50-60 yuan per tonneSpot prices dropped along with the extended decline in futures prices. The most-traded HRC contract on the Shanghai Futures Exchange fell for a second consec...Read More
China's domestic rebar prices continued on a downward trend on Wednesday September 1, following a weaker performance in the futures market.DomesticEastern China (Shanghai): 5,190-5,230 yuan ($803-810) per tonne, down by 30 yuan per tonneThe drop in iron ore futures pushed down ferrous futures more widely during the day, an industry analyst said. The most-traded January iron ore futures contract on...Read More
Most base metals traded lower in the morning session on the London Metal Exchange on Wednesday September 1, following the release of manufacturing data from the United States and China that point to cooling economies, particularly China.The Chicago manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July, while China's Caixin manufacturing PMI fell to 49.2 in August,...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were generally weaker on the morning of Wednesday September 1, in the face of further evidence of a slowdown in manufacturing activity. Chicago's manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July China's Caixin manufacturing PMI also showed contraction with a fall to 49.2 in August,...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 1.Fola Malomo, Cristina Belda and...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 1.Key driversThe spot price range for ferro-titanium widened higher in the week to Wednesday September 1, with some suppliers reporting deals above $8.00 per kg for the first time since April 14.Suppliers reported signs of increased buying interest for the fourth quarter and first quarter of 2022, but only slim interest fo...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 23.40-24.25 on Wednesday September 01,...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 grade, in-whs Rotterdam,...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
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
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...Read More
Spot prices for containerized steel scrap imported into Taiwan continued to rise on Wednesday September 1 amid high freight costs from the United States' West Coast to Taiwan and a lack of container vessels and freight space. Taiwan pays $448 per tonne for containerized scrapChina reports renewed interest for scrap importsCovid-19 pandemic weighs on Vietnam import demandDemand in India could...Read More
A closed arbitrage for imports into China reduced interest for spot trades and, subsequently, premiums eased in Shanghai, but in Southeast Asia and the United States premiums were stable. Closures related to Covid-19 in the region and better import opportunities into China are keeping Southeast Asia premiums steady. High freight and logistics costs are supporting US copper premiums at their h...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. U.S. equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for August Non-farm Productivity is an increase of 2.4% versus a gain of 2.3% in July. Consensus for the July U.S. Trade Deficit is $75.10 billion versus $75.70 billion in June. The Canadian D...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 31 that are worth another lookWith Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In...Read More
Aluminium premiums increased on Tuesday August 31 across the globe, with tight supply, an opened arbitrage window in China, and overall bullish sentiment providing market tailwinds and supporting all-time highs.Premiums up in Rotterdam on insufficient supplyUS Midwest premium stable at record highPremiums rise in Shanghai amid wide arbitrage profitsImproved market sentiment drives MJP premiums upw...Read More