Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
Seaborne premium hard coking coal and hard coking coal prices in the cfr market both increased by over $16 per tonne on Thursday August 26, with rising offer prices and market expectations.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.93 per tonne, up $17.09 per tonneHard coking coal, cfr Jingtang: $385.67 per tonne, up $20.36 per tonnePremium hard coking coal fob DBCT: $243.98 p...Read More
Seaborne iron ore prices were up on Thursday August 26 amid an uptrend in Chinese futures and for front-month swap contracts, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $152.92 per tonne, up $4.26 per tonne62% Fe low-alumina fines, cfr Qingdao: $153.80 per tonne, up $4.85 per tonne58% Fe fines high-grade premium, cfr Qingdao: $122.88 per tonne, up $5.92 per tonne65% Fe Br...Read More
Seaborne iron ore prices were up on Thursday August 26 amid an uptrend in Chinese futures and for front-month swap contracts, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $152.92 per tonne, up $4.26 per tonne62% Fe low-alumina fines, cfr Qingdao: $153.80 per tonne, up $4.85 per tonne58% Fe fines high-grade premium, cfr Qingdao: $122.88 per tonne, up $5.92 per tonne65% Fe Br...Read More
Iranian export prices for steel billet continued to decrease in the week to Wednesday August 25 amid the general global downtrend, Fastmarkets heard.Steel output from the country's mills was expected to improve in September, when the weather will be less hot and mills will be allowed a more generous allocation of electricity to be used for steelmaking.For the moment, Iranian producers had to cut p...Read More
Base metals prices on the London Metal Exchange performed well during the day but largely failed to hold momentum by 5pm on Thursday August 26, despite reaching intraday highs above Wednesday's closing levels.The aluminium three-month contract hit $2,639 per tonne during Thursday's trading, just $3 per tonne below its latest year-to-date high of $2,642 per tonne from July 30.It was the most traded...Read More
The Turkish steel mills have gone quiet in the deep-sea scrap markets once again after booking a single cargo earlier in the week, market sources said on Thursday August 26.A steel mill in the Iskenderun region booked a Belgium-origin cargo on Wednesday, comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The HMS 1&2 (80:20) price of th...Read More
Commodities merchant IXM, wholly owned by China Molybdenum Co Ltd (CMOC), is close to announcing its acquisition of warehousing and logistics firm Access World from Glencore, people familiar with the matter told Fastmarkets.The situation is still fluid - there are other bidders for the business - but a deal is expected to be announced imminently, the people said. Glencore, which declined to commen...Read More
Japanese lower-grade scrap prices are facing renewed pressure, and Shindachi busheling prices have continued to be propped up in recent weeks by reduced generation at automaker Toyota, sources told Fastmarkets.Key Japanese mills reduce some scrap bid pricesGaps between bids and offers narrow downward with lower cost scrap emerging in the Chinese marketTaiwan imported containerized scrap prices edg...Read More
Seaborne premium hard coking coal and hard coking coal prices in the cfr market both increased by over $16 per tonne on Thursday August 26, with rising offer prices and market expectations.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.93 per tonne, up $17.09 per tonneHard coking coal, cfr Jingtang: $385.67 per tonne, up $20.36 per tonnePremium hard coking coal fob DBCT: $243.98 p...Read More
The Turkish steel mills have gone quiet in the deep-sea scrap markets once again after booking a single cargo earlier in the week, market sources said on Thursday August 26.A steel mill in the Iskenderun region booked a Belgium-origin cargo on Wednesday, comprising 22,500 tonnes of HMS 1&2 (80:20) and 12,500 tonnes of bonus at an average price of $450 per tonne cfr. The HMS 1&2 (80:20) price of th...Read More
Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.This includes projects and targets for green steel, carbon capture, carbon neutral, net zero, low-carbon emissions and fossil-free steel. Hotspots appear in Germany, France and Sweden, where steelmaking is already well established. Policy, funding and sharing of infras...Read More
Seaborne iron ore prices were up on Thursday August 26 amid an uptrend in Chinese futures and for front-month swap contracts, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $152.92 per tonne, up $4.26 per tonne62% Fe low-alumina fines, cfr Qingdao: $153.80 per tonne, up $4.85 per tonne58% Fe fines high-grade premium, cfr Qingdao: $122.88 per tonne, up $5.92 per tonne65% Fe Br...Read More
Major steel production exports out of China in July decreased from June due to the removal of an export rebate on May 1.For instance, the hot-rolled coil export was 817,276 tonnes in July, down by 20% from 1.03 million tonnes in June, according to customs data.Market participants expect exports to keep the month-on-month...Read More
Prices for imported steel billet continued to decrease in Egypt during the week ending Thursday August 26 and demand remained weak, sources told Fastmarkets.Demand for rebar was limited to government projects, sources said.Egypt removed its construction ban on July 1 but rebar demand remained low because of high prices and a liquidity shortage.Domestic rebarEgyptian rebar producers kept...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 26 that are worth another look.Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.The striking workers union at...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 25 that are worth another look.The global markets for containerized freight have entered even deeper water in recent weeks, with closures at the key port of Ningbo-Zhoushan in China leading to worsening cargo delays, port congestion and a further...Read More
Spot refined zinc ingot premiums have firmed to multi-year highs in the United States and Europe, with smelter hitches and increasingly expensive transportation stretching supply chains further during the summer season in the northern hemisphere.US spot zinc premium rises to a more than four-year high Rotterdam, Antwerp zinc premiums at highest since early 2018China market eyes narrowing negative...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 25.Please click...Read More