China's domestic rebar prices decreased on Wednesday August 18 amid sharp losses in the futures market and subdued restocking demand. DomesticEastern China (Shanghai): 5,140-5,170 yuan ($793-798) per tonne, down by 50 yuan per tonneRebar futures plunged during the day on market participants' pessimistic outlook for demand in the next few months. Housing investments in the first seven...Read More
Tight aluminum supplies and high logistics costs pushed the US Midwest premium to a record high in the week to Tuesday August 17 and kept Rotterdam premiums firm despite a spread backwardation on the LME - although that combined with slow demand to put downward pressure on Asian premiums.The United States Midwest market sets another record high on tight suppliesIn Europe, Rotterdam premiums remain...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 18.Key driversThe titanium alloy market narrowed higher in its price range in the reported week as higher-priced deals done for fourth quarter delivery strengthened spot market sentiment. Industry sources reported fourth quarter deals at $8.30 per kg basis ddp and expect renewed spot demand around the end of August and into S...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...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...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...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...Read More
Madagascan nickel and cobalt producer Ambatovy has signed a three-year deal with London-based Stratton Metals for the marketing of its cobalt briquettes production, a spokesperson for Stratton told Fastmarkets on Wednesday August 18.The agreement is for the sale of Ambatovy cobalt briquettes in Europe and the United States and is set to start on January 1, 2022, the source confirmed."Volumes will...Read More
A six-week price rally in the UG2 chrome ore market since late June was reversed in the week to Tuesday August 17, mainly due to falling demand for material from both the seaborne and portside markets.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, nudged down by $2 per tonne to $182 per tonne on August 17, from $184 per tonne one week earlier...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Equity index futures were waiting for release of the August Philly Fed Index at 8:30 AM EDT. Consensus is an increase to 28.0 from 21.9 in July.Cisco slipped $0.65 to $54.50 despite reporting higher than consensus second quarter revenues and earnings. Nvidia added $4.18 to $194.58 after...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
A third trade union representing workers at Codelco's Andina copper mine has gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said.A third trade union representing workers at Codelco's Andina copper mine have gone on strike after rejecting the company's latest labor offer, the Chilean state-owned miner said. Suplant joined Industrial Integration Labor...Read More
Operations have been temporarily halted in Alashankou Port in Bortala Mongol autonomous prefecture, Northwest China's Xinjiang Uygur autonomous region, following reports of three new COVID-19 cases in the region on August 15.Commodities that have already arrived there, including copper cathodes, copper concentrates, refined zinc and zinc concentrates, are being held, and deliveries will be delayed...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 17 that are worth another look.New Brazilian service center Centro de Cortes de Pr?(C)-Pintados (CPP), which focuses on pre-painted steel products, started operational activity in the southern state of Santa Catarina on August 11, the company told...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Robust domestic prices in the Japanese steel scrap market were keeping prices for material from the East Asian country strong despite tepid demand from major importers, sources told Fastmarkets on Tuesday August 17.Japanese local scrap prices remain firmBuying interest for imported HS limited in ChinaTaiwan scrap import prices inch higher amid strong offers.JapanContinued robust demand in Japan's...Read More
US-listed lithium producer Albemarle is in formal negotiations with the Albemarle Salar Workers Union in an attempt to end their strike, the company's spokesperson has told Fastmarkets.The strike by members of the trade union at the Salar de Atacama lithium facility in the north of Chile started on Wednesday August 11 and was still continuing this week.FESUMIN, a Chilean federation of miners who w...Read More