Tata Steel India has commissioned its first steel recycling plant in Rohtak, Haryana, the company announced on August 18, providing a boost to the Indian domestic scrap industry.The plant will have a capacity of 500,000 tonnes per year and will be set up at Rohtak, Haryana. It is being built in partnership with Aarti Green Tech, a subsidiary of Aarti Steel, as a 'Build, Own, Operate' (BOO) partner...Read More
Iron ore prices continued to fall on Thursday August 19, with sentiment turning negative due to the bearish demand outlook, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $132.66 per tonne,down $20.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.30 per tonne,down $20.77 per tonne58% Fe fines high-grade premium, cfr Qingdao: $103.46 per tonne,down $20.02 per tonne65% F...Read More
A month-on-month drop in the Kanto Tetsugen auction and a price cut by major mill Tokyo Steel on Thursday August 19 has increased pessimism in the Japan steel scrap market, sources said.Japan's Kanto tender closed at a fall of $11 per tonne month on monthBearish sentiment in Chinese steel markets weighed on scrap import pricesTaiwan imported containerized scrap price stableJapanJapan's Kanto...Read More
Seaborne coking coal prices inched higher in the cfr China market amid positive market sentiment, while fob Austrialia prices remained largely unchanged, sources told Fastmarkets on Thursday August 19.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $366.41 per tonne, up $0.93 per tonneHard coking coal, cfr Jingtang: $323.83 per tonne, up $1.16 per tonnePremium hard coking coal, fob DBCT...Read More
Domestic hot-rolled coil prices in China extended their losses, falling to their lowest in about six weeks on Thursday August 19; futures prices continued their decline on demand concerns and waning cost supports.DomesticEastern China (Shanghai): 5,600-5,620 yuan ($863-866) per tonne, down by 90 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange weakened for a second stra...Read More
Domestic rebar prices in China dropped sharply on Thursday August 19 on falling futures, but restocking demand picked up amid the decreases. DomesticEastern China (Shanghai): 5,010-5,040 yuan ($773-777) per tonne, down by 130 yuan per tonneThe most-traded January rebar futures contract dropped to a low of 4,925 yuan per tonne during Wednesday's night trading session - down by 219 yuan per tonne fr...Read More
A gradual increase in end-user demand kept domestic stainless steel prices in China from falling further in the week ended Wednesday August 18. Nickel and stainless steel futures also experienced small changes during the week, which helped to keep spot stainless steel prices stable. The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $19,...Read More
First Solar, which claims to be the world's largest producer of solar power modules, has begun construction of a manufacturing facility in the eastern US state of Ohio, the company said on Tuesday August 17.The company, which is based in the state of Arizona in the western US, will invest $680 million in the Ohio facility, which will have capacity for 3.3GW-worth of modules.The plant will focus on...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 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
Key data from Fastmarkets' pricing session in China on Wednesday August 18. Key drivers The spot cobalt metal price in China narrowed up after local futures prices strengthened. And reducing stocks brought further support, with most sellers pushing up offer prices in response.The cobalt tetroxide price widened down with...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
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade.Volume on U.S. equity markets is expected to be higher than average today due to "Triple Witching" activity.The Canadian Dollar was unchanged at US77.50 cents following release of Canada's June Retail Sales report at 8:30 AM EDT. Consensus was a gain of 4.5% versus a decline of 2.2% in M...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More
Short supply of nickel products in the United States pushed the cut cathode premium up by more than that for briquette in the week to Tuesday August 17, while trade was still subdued in other regions, Fastmarkets has heard.US 4x4 cut cathode premium up by 11.1%Continued arbitrage losses, Covid-19 problems worry Chinese tradersEuropean premiums flat in summer holiday lull.Both US premiums rise in b...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 18.Please click...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Wednesday August 18, and their latest price movesChina The UG2 chrome ore market lost its upward traction due to falling demand after previous purchasing activity against weakened portside prices and rising inventories at ports. The imported charge chrome market softened amid an absence of liquidity; buyers sh...Read More
The United States remained the bright spot for the physical trading of lead in the week to Wednesday August 18 amid a massive backwardation, while appetite for zinc was weak in Europe and China, Fastmarkets has heard.Wide backwardation in lead spread reduces spot trading interest in Asia, USLondon Metal Exchange lead inventory at low level, while Shanghai Futures Exchange lead inventory runs highP...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
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More