Seaborne coking coal prices stayed large stable in both the cfr and fob markets on Tuesday July 27, with market participants in the later market waited for a sale tender result from a Europe steel mill, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.30 per tonne, down $0.33 per tonnePremium hard coking coal, cfr Jingtang: $315.76 per tonne, up $0.69 per tonne ...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.Chinese equities under pressure again today - market worried about regulatory interventionPre-market western equity index futures showing a weaker start againBase metalsLME three-month b...Read More
Import prices for HRS101-grade ferrous scrap into China were unchanged on Tuesday July 27 but steel production cuts dampened spot demand for the material, sources told Fastmarkets."The restrictions on crude steel production have reduced our demand for scrap to a minimum recently," a Chinese mill source based in Hebei province told Fastmarkets. "We will reduce our production rate starting next mont...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday July 26, mainly due to slow activity in the market and expectations of further price declines, sources told Fastmarkets.Market participants expected the downtrend to continue while the market reacts to the imposition of an export duty on steel products from Russia. This will be in effect from...Read More
Teck Resources has updated its zinc concentrates production guidance for 2021, following "a strong second quarter operating performance" in its zinc business unit, the Canadian miner said in its second quarter results. At CAD 1.956 billion ($1.555 billion), net profits were up by 79% in the first half of the year.At a glance copper: Overall copper production was up by 10.8% in the first half...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
Iron ore prices fell on Tuesday July 27 because of weaker sentiment and rising port inventory, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $202.57 per tonne, down by $0.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $202.97 per tonne, down by $0.96 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.29 per tonne, down by $1.36 per tonne65% Fe Brazil-origin fines...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US79.56 cents following release of Canada's June Consumer Price report at 8:30 AM EDT. Consensus was an increase of 0.4% versus a gain of 0.5% in May. Actual was an increase of 0.3%. The year-over year increase was 3.1%.. Apple dropped $3.07 t...Read More
The biggest steel producer of the United Arab Emirates, Emirates Steel, decreased its rebar price to 2,957 dirhams ($805) per tonne ex-works for orders to be produced in August, effective Tuesday, July 27.The company's previous rebar price, in effect from Sunday June 27, was 3,012 dirhams per tonne ex-works. UAE demand for steel rebar and billet was low during the week to July 27 because buyers w...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.Read More
Turkish steel producers remained quiet in deep-sea scrap import markets due to the summer slowdown, sources told Fastmarkets on Tuesday July 27.Domestic steel trade has been on hold since July 15 due to public holidays.Turkey observed the Democracy and National Solidarity Day on July 15 and Eid al-Adha the following week from July...Read More
Australia-listed Jervois Mining has agreed to purchase the Freeport Cobalt refinery in Finland for $160 million from Koboltti Chemicals Holdings, it said on Tuesday July 27.The deal, Jervois said, could lead to the company growing into the world's second-largest producer of refined cobalt outside of China. Koboltti is a holding company owned by Freeport McMoRan and Lundin Mining. The...Read More
China imported 76,336 tonnes of ferrous scrap in June, a 31% drop from May, according to the latest Chinese customs data.Of the total, 61,085 tonnes - or 80% - originated in Japan. South Korea remained China's second-largest scrap supplier in June, accounting for 9,713 tonnes (12.7%) of imports. Hong Kong (2,252 tonnes; 2.95%) and the United Kingdom (1,668 tonnes; 2.19%) were other significant sou...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 27 that are worth another look.More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind...Read More
More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.Global energy-related emissions must drop to 30% below 2019 levels by 2030, and to 75% below by 2040, to be on tr...Read More
Domestic steel prices for hot-rolled sheet in Russia's Central Federal District around Moscow went down in the week to Monday July 26, while prices for cold-rolled sheet and steel plate were unchanged, sources told Fastmarkets.Prices were under pressure from low levels of purchasing activity because buyers were expecting further price reductions, the sources added.Customers thought that mills woul...Read More
China's domestic rebar prices fell back on Tuesday July 27 amid weaker demand from both end users and trading houses following the soft futures.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($815-819) per tonne, down by 60 yuan per tonneThe typhoon In-fa left Zhejiang province and Shanghai city late on Monday and went to Jiangsu, a major long steel production hub in...Read More
Nickel producers are putting an increased focus on sustainability credentials in a bid to lock in consumer demand from the automotive industry, sources told Fastmarkets.Increased scrutiny from end consumers and government policy on lower carbon emissions throughout the supply chains have nickel producers looking to highlight sustainability to secure long-term deals. Most recently, internation...Read More
Noront Resources has recommended that its shareholders accept a Canadian $325 million ($258.72 million) offer from BHP, which is 75% higher than another take-over offer made in May for the future nickel sulfate producer.Market observers said the bidding war underscored interest in electric vehicle battery components.Noront owns the early-stage Eagle's Nest deposit, which it says is the largest hig...Read More