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
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
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
Fastmarkets on Thursday August 26 launches a fortnightly assessment of the China pig iron import price, reported on a US-dollar-per-tonne-cfr-China basis. After a consultation period that ended on August 9, Fastmarkets has launched its pig iron, import, cfr China, $ per tonne assessment, effective on Thursday August 26. Market sources expect China to import pig iron in increasing volumes due to it...Read More
China imported 3.77 million tonnes of coking coal in July, down by 49% year on year and 9% lower month on month, according to the latest Chinese customs data.Russia remained China's largest supplier of coking coal for a third month in July, accounting for 33% of total imports.Canada (23%), the United States (17%), and Mongolia (13%) were China's second-, third- and fourth-largest suppliers last mo...Read More
Spot hot-rolled coil prices in China's domestic market moved lower on Thursday August 26, with positive industry data failing to offset concerns over continued weakness in demand.DomesticEastern China (Shanghai): 5,650-5,700 yuan ($872-880) per tonne, down by 20-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange saw losses accelerate during afternoon trading Thursday af...Read More
China's domestic rebar prices decreased on Thursday August 26 due to weaker restocking demand among trading companies, though end users' buying appetite remained steady. DomesticEastern China (Shanghai): 5,150-5,180 yuan ($794-799) per tonne, down by 50 yuan per tonneTrading houses have almost completed their restocking for sale in the first half month of September, a trader in Shanghai said. As s...Read More
China's domestic stainless steel prices were down on Wednesday August 25 compared with a week earlier, but the market had picked up after experiencing losses earlier this week.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,200-18,600 ($2,810-2,871) per tonne, down by 600-700 yuan per tonne from a week earlierThe three-month nickel contract on the London Metal Exchange e...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...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,...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesDalila Ouerghi and...Read More
A summary of Chinese battery materials producer GEM's financial and production results for the six months ended June 30, 2021, as released by the company on Thursday August 26.In brief GEM's annual capacity of ternary precursor materials totaled 130,000 tonnes at the end of June, unchanged from the end of last year. The company has shifted production focus to nickel-rich ternary precursor material...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will stop ferro-silicon production for two weeks in October because of planned maintenance to its three furnaces, a source told Fastmarkets.The company is stopping output as part of its usual annual overhaul at its operations, although that usually happens in September or earlier in the third quarter. The move comes at a time of record peak pri...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Investors are waiting for an update on U.S. monetary policy by Federal Reserve chairman Jerome Powell at the Jackson Hole Symposium at 10:00 AM EDT.U.S. index futures were virtually unchanged following release of July Personal Income and July Personal Spending at 8:30 AM EDT. Consensus f...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
Chilean copper producer Codelco has initiated construction work on Rajo Inca, a $1.38-billion addition to its Salvador mine, which should begin operations in 2022, the state-owned company said on Tuesday August 24.Rajo Inca increases the mine life at Salvador by 47 years, to 2070, with copper capacity to reach 90,000 tonnes per year, from 60,000 tpy currently. Mineral exploration will move from an...Read More
The UG2 chrome ore and ferro-chrome markets in China were on hold in the week to Tuesday August 24, with participants waiting for major stainless steel mills to release their September tender prices.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China was $182 per tonne on Tuesday, unchanged from one week earlier. The market was quiet with many buy...Read More