Iron ore prices mostly increased on Wednesday August 25 despite weaker trading activity in the physical market, especially at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $148.66 per tonne, up by $2.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.95 per tonne, up by $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $116.96 per to...Read More
Domestic hot-rolled coil prices in China stemmed their recent rally on Wednesday August 25 while industry data points to an output increase in mid-August.DomesticEastern China (Shanghai): 5,690-5,720 yuan ($879-883) per tonne, widening downward by 20 yuan per tonneThe China Iron & Steel Association (Cisa) said on Tuesday morning that daily crude steel output from its member mills average...Read More
Tin ingot premiums in the United States have decreased slightly for the first time since the start of 2021 together with those in Taiwan, while in Europe, the all-time highs seen for the past two months held on as the supply tightness in the region persisted. US offers, deals still broadly around $4,000 per tonne despite imminent arrival of cargoes. Taiwan premiums fall after "hoarding" of ingot.T...Read More
Base metals prices on the London Metal Exchange were mainly weaker on the morning of Wednesday August 25, although they had previously rebounded from last week's weakness.Shanghai Futures Exchange base metals prices were mainly stronger on Wednesday in response to the previous day's gains on the LME.Broader markets focused on Friday's United States Federal Reserve Jackson Hole symposiumSpread of t...Read More
China's domestic rebar prices suspended their upward trend on Wednesday August 25 amid a drop in sales volumes.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($803-808) per tonne, unchangedRestocking demand continued to weaken due to traders' concerns about high prices in September.End users slowed their procurement rates slightly to see if spot prices would drop...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 25.Key drivers The titanium alloy market was steady in the assessment week, with suppliers holding their offer prices steady ahead of an expected renewal of demand from steelmakers for both prompt and fourth-quarter deliveries. Industry sources reported hearing some offer prices close to $8 per kg, with the emergence of some...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 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 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
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.Fastmarkets assessed Cobalt sulfate...Read More
The US Department of Commerce has set final anti-dumping duties on imports of stainless steel flanges from India following an administrative review, according to a Federal Register notice set to be published on Thursday August 26.The agency set the anti-dumping duty rate for all Indian exports of stainless steel flanges to the United States at 145.25%, unchanged from the preliminary margin set in...Read More
Trading remained thin in China's steel plate export market in the week to Tuesday August 24 due to the resurgence of Covid-19 cases, uncompetitive offer prices and uncertainty surrounding China's export tax.Fastmarkets' price assessment for October-shipment steel heavy plate export, fob China main port was $915-925 per tonne on Tuesday, down by $20-25 per tonne from a week earlier.Yingkou Medium P...Read More
Tsingshan Group has lowered its tender price for September-delivery ferro-chrome to 9,995 yuan ($1,543) per tonne, the Chinese stainless steelmaker said on Wednesday August 25.The tender price is 800 yuan per tonne (7.41%) lower than what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for August-delivery material.While lower than the previous month's 13-year high,...Read More
Prices for containerized steel scrap imported into Taiwan remained flat on Wednesday August 25, but sources said the outlook in the market was shaky for the coming month.Taiwan buys containerized scrap at $440 per tonne in recent dealsWide bid-offer gap cfr China scrap persistsDeal at lower price heard for shredded scrap to IndiaTaiwanThere were transactions concluded at $440 per tonne cfr Taiwan...Read More
Slower spot activity prevented any changes to the US Midwest aluminium premium although deals were still concluded at high end of Fastmarkets' assessment range on Tuesday August 24.While a lack of market liquidity combined with slow demand kept European and Asian premiums static, Brazilian premiums rose slightly thanks to higher offers.US Midwest market flat after reaching record highPremiums in E...Read More
Participants in the seaborne alumina market have an increasingly bullish outlook for prices amid operational disruptions at the Jamalco refinery in Jamaica following a fire on Sunday August 22.The fire started at refinery's separate powerhouse, which produces the energy needed for the refining of alumina at the plant.Though a full assessment of the damage has yet to emerge, market participants are...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 3 points in pre-opening trade.U.S. index futures were quiet prior to release of next estimate of second quarter annualized GDP at 8:30 AM EDT. Consensus is that the U.S. economy grew at a 6.6% rate versus a 6.5% rate in the first quarter. Salesforce.com advanced $6.78 to $267.63 after the company reported higher than...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 24 that are worth another look....Read More
Aluminium's three-month price on the London Metal Exchange, backed by a constrained physical market, was just $5.50 per tonne short of its latest year-to-date high on Tuesday August 24, with nickel and zinc also climbing back above key psychological levels while most commodities and equities ticked upward.Aluminium's futures contract showed an intraday high of $2,636.50 per tonne on Tuesday, just...Read More
As the world's media spotlight falls on Afghanistan, Fastmarkets looks at why reported claims of incoming Chinese mining deals are unlikely to be fulfilled soon.Mes Aynak, Afghanistan's most well-known copper project, means "small copper deposit" in Pashto. Indications suggest it is anything but.The deposit holds 240 million tonnes of 2.3% grade copper ore, according to the United States Geologica...Read More