China's domestic coking coal market rose sharply in the week to August 23 due to the supply shortage from Mongolia, which also weighed on market sentiment in seaborne coking coal prices in the cfr China market. The fob Australia market inched up amid steady buying interest for October-laycan cargoes, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $381.73 per to...Read More
China imported 88,218 tonnes of ferrous scrap in July, a 16% increase from June, according to the latest Chinese customs data.Of the total, 66,096 tonnes - or 74.92% - originated in Japan.South Korea remained China's second-largest scrap supplier in July, accounting for 14,464 tonnes (16.4%) of imports.Taiwan (3,590 tonnes; 4.07%) and Hong Kong (1,214 tonnes; 1.38%) were other significant sources...Read More
Prices for seaborne iron ore pellets and concentrate plunged further in the week ended Friday August 20 amid weak demand and a downtrend in the futures market.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $34.50 per tonne, down $6.70 per tonne. 65% Fe blast furnace pellet, cfr Qingdao: $207.74 per tonne, down $20.62 per tonne.66% Fe concentrate, cfr Qingdao: $16...Read More
Key data from Fastmarkets' pricing session on Monday August 23.Key drivers The spot cobalt international metal price for both alloy and standard grades widened downward on lower offers from sellers in a quiet market, with limited buyers seeking spot units and...Read More
Tianyuan Manganese Industry Group (TMI), said to be the world's largest producer of manganese flake, has not halted production, it told Fastmarkets, dispelling a recent rumor that has helped to drive manganese prices to new heights worldwide.Distorted reports of an explosion some time in the week ended Friday August 13 near TMI's operations in Zhongwei, in China's Ningxia province, were heard amid...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, $/lb...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,...Read More
A summary of China's minor metals exports and imports for July 2021.In brief China's exports of antimony continued to increase in July. The United States remained the biggest buyer of Chinese antimony, importing 379,801 tonnes of the material during the month. The remainder of China's exports went mainly to Japan, the Netherlands, Belgium, Pakistan and South Korea. China...Read More
A summary of China's battery raw materials exports for July 2021, according to the latest Chinese customs data released last Friday August 20.In brief?EUR?Lithium hydroxide exports fell month on month due to a shortage in China amid lithium feedstock supply constraints coupled with strong demand from the...Read More
A huge drop in Chinese import steel billet bids has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in freefall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightly during...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Bank of Montreal advanced $0.81 to $129.53 after reporting higher than consensus fiscal third quarter earnings.Bank of Nova Scotia gained $0.30 to $80.53 after reporting higher than consensus fiscal third quarter earnings. Mosaic advanced $0.55 to $31.81 after announcing a $1 billion share...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
Here are five Fastmarkets stories you might have missed on Friday August 20 that are worth another look.Brazilian steelmaker Gerdau will increase its interest in Mexican joint venture Gerdau Corsa from 70% to 75% by merging three of its units in the country and selling a stake to Grupo C??rdova, the company said...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade.JD.com added $2.20 to $245.80 after the company reported higher than consensus second quarter revenues. General Motors slipped $0.28 to $48.52 after the company announced a charge in excess of $1 billion to cover the cost of a recall of its Volt cars.Trillium Therapeutic (TRIL.TO Cdn$7.81...Read More
Russian steelmaker Metalloinvest and another, unnamed, non-European steel company, are in discussions about acquiring Hungarian flat steel producer Dunaferr, market sources told Fastmarkets this week.The Hungarian steelmaker's owners have been in negotiations with both parties and a decision is imminent, sources said, because Dunaferr is about to go through the liquidation process. Metalloinv...Read More
The provincial government of Liaoning in northeastern China has approved a merger between Anshan Iron & Steel (Angang) and Benxi Iron & Steel (Bengang), according to a notice released by the latter's listed arm, Bengang Plate, on Thursday August 19.The owner of Bengang - Liaoning's State-owned Assets Supervision & Administration Commission - will transfer a 51% controlling stake in the steelmaker...Read More
Short-covering activity helped some base metals prices on the LME end the week on a higher note at the end of trading on Friday August 20, but it was not enough to offset the losses seen after Thursday's sell-off.Copper's three-month price was $9,037 per tonne at 5pm on Friday, up 1.6% on Thursday's $8,894 per tonne, with the 200 daily moving average (DMA) acting as key support at $8,843 per...Read More