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...Read More
The chrome ore market for sales into China rose with fresh liquidity being reported in the week ended Tuesday August 3, following strong recent gains in the downstream alloy market.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settled at $182 per tonne on August 3, up by 4.6% from $174 per tonne one week earlier."With the profit available from ferro-chrome prod...Read More
Steelmakers in China are preparing to join the country's national carbon trading market by measuring their emission levels to secure carbon quotas that match their output.The China Iron & Steel Association has instructed member mills to submit their production and carbon emission details to it by August 14 to study the quota for every mill. The steel sector is among the next slew of major industri...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 4Please click...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Traders are waiting for June trade reports to be released at 8:30 AM EDT. Consensus calls for U.S. trade deficit of $73.9 billion and a Canadian trade deficit of $800 million.Booking added $69.36 to $2,155.00 after reporting higher than consensus second quarter revenues. Etsy plunged $23.1...Read More
A summary of the financial results for US-based aluminium producer Novelis in April-June 2021, the first quarter of its business year, released on Wednesday August 4.In brief Novelis' adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter were $555 million, up by 119% year-on-year. Net income attributable to its common shareholders was $240 million, up fro...Read More
China's domestic rebar prices recovered some losses on Wednesday August 4 on traders' replenishing their inventories, but end-user demand remained weak. DomesticEastern China (Shanghai): 5,200-5,240 yuan ($804-810) per tonne, up by 70 yuan per tonneRebar futures picked up during the day on expectations among market participants that steel production cuts will continue over the remainder of this ye...Read More
London Metal Exchange prices were under pressure for the second day in a row at the close on Wednesday August 4, in a trading session which had the lowest volumes since mid-July for many metals.Nickel's three-month price was down to $19,243 per tonne - a fall of $145, or 0.7% - from Tuesday's closing price. Its volumes, at 6,450 lots traded by 5pm, were at their lowest since July 21. The news...Read More
Century Aluminum is on track to complete the expansion at its Mount Holly smelter in Goose Creek, South Carolina, by the end of the year, allowing it to ramp up to 75% of its 229,000 tonnes annual production capacity.Second quarter 2021 ended June 30 in brief Century's adjusted earnings before income, tax, depreciation and amortization was $34.4 million, an increase of $54.1 million from the previ...Read More
Prices of hot-rolled coil prices in China's domestic market rose on Wednesday August 4, after two consecutive days of sharp losses. Market participants have seemingly shrugged off fears of an easing in the country's plan of steel production curbs, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,760-5,820 yuan ($891-900) per tonne, up by 70-100 yuan per tonneSpot prices have regained m...Read More
Manganese ore prices were under pressure from stubborn port inventories in China during the week ended Friday July 30, with buying sentiment further lowered by new cuts to alloy production to be imposed in the south of the country.Almost all manganese alloy smelters in Ningxia province suspended their operations from July 27 due to reduced electricity supplies, market participants told Fastmarkets...Read More
The latest data for global manganese ore market for the week ended July 30, 2021.Read More
Due to a reporter error, the United States zinc and copper premiums for Tuesday August 3 were published in Fastmarkets' price book after the scheduled time of 4pm GMT.Fastmarkets' fortnightly assessment of the copper grade 1 cathode premium, ddp Midwest US and the zinc SHG min 99.995% ingot premium, ddp Midwest USwere published later than the scheduled time of 4pm GMT.For more information, or...Read More
Turkish steel producers resumed their deep-sea scrap bookings after a short break, taking advantage of lower prices, market participants told Fastmarkets on Tuesday August 3.A steel mill in the Marmara region booked a US cargo comprising 29,000 tonnes of heavy melting scrap 1&2 (80:20) at $463 per tonne and 8,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $478 per tonne c...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3.Slide in Chinese futures market reduces cfr China scrap, billet pricesTokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushelin...Read More
Lower bids for Japanese steel scrap heard from key buyers, combined with the sharp drop in Chinese ferrous futures this week, have created a slide in sentiment across the major Asian steel scrap markets, sources told Fastmarkets on Tuesday August 3. Slide in Chinese futures market reduces cfr China scrap, billet prices Tokyo Steel drops scrap buy prices at Tahara works, except for Shindachi bushel...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Tuesday August 3, with LME copper and SHFE aluminium bucking the trend, but the drop in US ten-year treasury yield hints of a pick-up in haven buying.Asian equities mainly lower this morningSome disappointing manufacturing purchasing managers' index (PMI) have raised concern about...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 3 that are worth another look.Some overseas buyers have reneged on contracts for cold-rolled coil and hot-dipped galvanized coil exports from China after the recently announced cuts in value-added tax rebates for some steel products, industry sources told Fastmarkets.Nanshan Aluminum, which is...Read More
Aluminium premiums in the United States and Europe climbed further on Tuesday August 3 on tight supply in those regions, while premiums in Asia remained flat on muted demand.US Midwest premium jumps to fresh all-time highPremiums in Europe tick up on supply tightnessMain Japanese ports (MJP), South Korea premiums steady on thin liquidityUS Midwest premium shoots up by almost 10%Fastmarkets assesse...Read More