A rebound in Chinese ferrous futures prices on Wednesday August 4 has led to increased interest in booking seaborne steel billet cargoes in China, sources told Fastmarkets.Sharp drops in ferrous futures on both Monday and Tuesday sapped sentiment from the Chinese market, with buyer indications heard as low as $660 per tonne cfr China for 3sp billet on Tuesday.This was down sharply from the la...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia.Read More
Steel scrap import prices in South Korea were likely to drop again in the next few days with buyers looking to take advantage of tepid local demand in Japan and falling prices in other key Asian import markets, sources told Fastmarkets on Wednesday August 4.South Korea likely to push Japan prices down furtherProduction curbs weigh on Chinese scrap demandOffers for bulk cargoes to Vietnam fallTaiwa...Read More
Iron ore prices eased on Wednesday August 4 amid pollution control measures being implemented in Tangshan city between August 4-9, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $183.69 per tonne, down $0.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $184.39 per tonne, down $1.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $147.91 per tonne, down $1.09 per ton...Read More
Seaborne coking coal prices increased in the fob Australia and cfr China markets on Wednesday August 4. New buying interest for Australian August-laycan cargoes increased in the fob Australia market while strong offers for United States-origin coking coal in the cfr China market scaled back buying, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $215.51 per tonne, up $0.84 per...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
Chinese downstream fabricators actively bid for discounted zinc during the second round of state auctions, with the 50,000 tonnes of zinc almost sold out on Thursday on July 30, sources said.The discount stands at around 1,500 yuan - including shipment fee calculation - and has considerably catalyzed the sell-off, sources added. Winning bids from zinc fabricators ranged from 19,000-21,000 yua...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
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
China's major non-ferrous metal prices are likely to remain robust in the second half of 2021, but will be volatile at high levels, Jia Mingxing, vice president of China Nonferrous Metals Industry Association (CNMIA), said in a press conference of China's non-ferrous industry's half-year performance on August 3."[The] copper price [doesn't] have [the right] market conditions allowing it to step ou...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price movesJanie Davies, Dalila...Read More
Key data from the Wednesday August 4 pricing session in London.Key drivers Spot international cobalt prices widened downward on cheap offers from sellers willing to take profits in a quiet market, amid seasonally slow trading. Some sellers insisted on...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 4.Key drivers Prices for titanium alloy and scrap were steady across the grades assessed by Fastmarkets oviner the week to Wednesday August 4, with buying interest for alloy reported into the last quarter of the year, and scrap suppliers holding their offer prices steady, sources said. Deals were reported within existing rang...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 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 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
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