Hot-rolled coil prices across China's domestic market moved higher on Monday July 19, while futures prices rose with participants' expectations of lower production due to power supply restrictions in some regions and production curbs in the top steelmaking hub of Tangshan, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,880-5,950 yuan ($907-918) per tonne, up by 20-50 yuan per tonneMa...Read More
China's domestic rebar prices edged higher on Monday July 19, after power shortages increased participants' expectations of production reductions, sources said.Domestic Eastern China (Shanghai): 5,240-5,250 yuan ($809-810) per tonne, up by 10-40 yuan per tonnePower supply shortages in some regions have forced steelmakers to scale back operations, which increased participants' expectations of a pro...Read More
Three-month nickel was the only contract to trade higher in the morning session on the London Metal Exchange on Monday July 19, with most other base metals, with the exception of copper, consolidating at elevated levels.Nickel's three-month price rose to $19,155 per tonne in early trading, before easing slightly to $19,095 per tonne at 9am. The metal gained 2% throughout last week, finishing on Fr...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Monday July 19, with nickel and tin the standout performers, driven higher by supply disruptions.United States 10-year treasury yields continue to trend lower, despite inflationary pressures in the countryBase metalsLME three-month base metals prices were mixed this morning, with nickel up by...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 assessed...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
Ports' operations in South Africa's KwaZulu-Natal have slightly improved, while cobalt hydroxide market participants wait for a clearer direction, sources told Fastmarkets.Ports and terminal operations in Durban and Richard Bay in KwaZula-Natal, South Africa have slowly begun to normalize while the country has prioritized recovery after recent civil unrest. Most participants held watchful attitude...Read More
Prices for refined selenium in China fell in the week to July 19 with cargo holders lowering their offer prices in an attempt to trigger demand in an illiquid market, sources told Fastmarkets.Fastmarkets' weekly price assessment for selenium 99.9% Se min, in-whs China was 130-190 yuan ($20-29) per kg on Friday July 16, down by 15 yuan per kg or 8.6% from 150-200 yuan per kg the previous week.The l...Read More
German steelmakers settled their monthly steel scrap contracts for July at higher prices due to continuous tight availability in the market, sources told Fastmarkets.Prices for new scrap grades, such as E8, have risen higher compared with other grades due to short supply from both automotive producers and flat steel service centres. Stoppages and reduced production rates in the automotive sector r...Read More
Nornickel has not been offering spot nickel in the United States since February, which intensifies the supply shortage and rapidly rising premiums in the country since miners at Vale Canada went on strike on June 1, multiple sources told Fastmarkets.Nornickel has declined to comment but said that an update was imminent for its Taimyrsky mine - whose recent disruption, sources said, led to the halt...Read More
Base metals prices on the LME were up across the board this morning, Tuesday July 20, while the SHFE followed Monday's weakness, which was triggered by growing fears over the potential impact of the Delta variant of Covid-19 on the global economic recovery.* Gold, the yen and the dollar were stronger and the United States 10-year treasury yield weaker - all signs of a pick-up in haven demand* The...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 17 points in pre-opening trade.Equity index futures were virtually unchanged following release of June U.S. Housing Starts at 8:30 AM EDT. Consensus was an increase to 1.590 million units from 1.572 million units in May. Actual was an increase to 1.64 million units.IBM advanced 4.63 to $142.40 after reporting higher th...Read More
Here are five Fastmarkets stories you might have missed on Friday July 16 that are worth another look.Flat-rolled steel import prices increased in South America during the week ended July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin,...Read More
Here are five Fastmarkets stories you might have missed on Friday July 16 that are worth another look.Flat-rolled steel import prices increased in South America during the week ended July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin,...Read More
Here are five Fastmarkets stories you might have missed on Friday July 16 that are worth another look.Flat-rolled steel import prices increased in South America during the week ended July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin,...Read More
Here are five Fastmarkets stories you might have missed on Friday July 16 that are worth another look.Flat-rolled steel import prices increased in South America during the week ended July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin,...Read More
Here are five Fastmarkets stories you might have missed on Friday July 16 that are worth another look.Flat-rolled steel import prices increased in South America during the week ended July 16 amid higher freight rates from China and the first deals for September-shipment cargoes of Brazilian and Japanese origin,...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Monday July 19, with nickel and tin the standout performers, driven higher by supply disruptions.United States 10-year treasury yields continue to trend lower, despite inflationary pressures in the country.Base metalsLME three-month base metals prices were mixed this morning, with nickel up b...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 50 points in pre-opening trade. Weakness reflects drops by international equity market indices related to a surge in COVID 19 cases.Yield on 10 year U.S. Treasuries fell to 1.2263 % The Canadian Dollar dropped 0.93 to US78.35 cents in overnight trade.Crude oil plunged $2.60 to $69.21 after OPEC + reached an agreement...Read More
Production at Koniambo Nickel SAS (KNS) in New Caledonia has been disrupted by protesters, a Glencore spokesperson confirmed to Fastmarkets.Le Figaro newspaper had reported the disruption on Thursday July 15, citing a statement issued by KNS owners Glencore and Soci?(C)t?(C) Mini??re du Sud Pacifique SA (SMSP).The site was placed "on standby," with production...Read More