Iron ore prices largely edged up on Tuesday July 6 following the steel price increase, while market chatter on the crude steel production cut and authorities' focus on curbing the commodity price surge weighed on the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $222.36 per tonne, up $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $226.02 per tonne,...Read More
Base metals prices on the London Metal Exchange were up across the board this morning, Wednesday July 7, suggesting dip buying after Tuesday’s weakness that saw copper, aluminium and nickel fall by 2%, or more.Tuesday's drop in the ISM services purchasing managers index (PMI) to 60.1, from 64, was partly blamed for the day’s weaker markets, as was the jump in the US Dollar Index.Bas...Read More
Seaborne coking coal prices were largely stable in both the cfr and fob markets on Tuesday July 6, with most market participants still on the sidelines after the centenary of the Chinese Communist Party on July 2, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $202.52 per tonne, down $0.68 per tonnePremium hard coking coal, cfr Jingtang: $308.55 per tonne, up $0.70...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Ferrous scrap prices in Mexico increased in the week ended Friday July 2, after being mostly stable in the previous week, amid consumers fighting to secure supply.After a week of stability, most steelmakers in Mexico's northern Monterrey region and central Baj?-o region applied price increases to all grades due to limited material availability.Price movements were reported in a wide range, between...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 6 that are worth another look.Indian suppliers exhausted their third-quarter quota for shipments of hot-rolled coil into Europe on the first day of the new three-month period, according to data released by the European...Read More
Russia-origin aluminium will carry an export duty of 15% with a minimum rate of $254 per tonne from August 1 until December 31 this year, according to the Russian government.Export duties have been approved on 340 non-ferrous and steel products, after Russian Prime Minister Mikhail Mishustin signed an official decree on Friday June 25.Primary aluminium, under harmonized system code 760110, will al...Read More
Base metals price movements on the London Metal Exchange were mixed during trading on Monday July 5, with copper and tin making the best showings among the complex.Copper's three-month price rallied upward by more than $130 per tonne during Monday's trading, to $9,511 per tonne at the 5pm close, from $9,376.50 per tonne on Friday, despite only 12,404 lots being traded during the day.While the stro...Read More
Kalidas Madhavpeddi has been appointed as the new chairman at Glencore, the commodities company announced on Monday July 5.Madhavpeddi will take over from retiring chairman Tony Hayward on July 30. Currently non-executive director of Novagold Resources Inc, Trilogy Metals Inc and Dundee Precious Metals Inc, Madhavpeddi has more than 40 years of experience in the international mining...Read More
Base metals, iron ore, rebar and precious metal prices on the Shanghai Futures Exchange were up across the board this morning, Monday July 5, with all the base metals, apart from lead, also higher on the London Metal Exchange.Markets taking comfort from Friday's US employment report. Markets likely to be quiet with the United States celebrating Sunday's Independence DayBase metalsLME three-month l...Read More
Tantalum concentrate continues to gain price support amid pressing demand for consumer electronics goods and the global extent of shipping delays, which have incentivized primary tantalum producers in Central Africa to raise their output over the past month, Fastmarkets heard on Monday July 5.Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China, at $87-90 per lb on June 2, i...Read More
The latest data for the global manganese ore market for the week ended July 2, 2021.Read More
Base metals production in Peru increased significantly year-on-year during May due to the strong effects of the Covid-19 pandemic in 2020, but figures were also up on a monthly basis on better performances by the largest mines, the country's ministry of energy and mines, Minem, said on Friday July 2.Copper output totaled 195,999 tonnes in May, up by 52.63% from 128,412 tonnes in the corresponding...Read More
Kalidas Madhavpeddi has been appointed as the new chairman at Glencore, the commodities company announced on Monday July 5.Madhavpeddi will take over from retiring chairman Tony Hayward on July 30. Currently non-executive director of Novagold Resources Inc, Trilogy Metals Inc and Dundee Precious Metals Inc, Madhavpeddi has more than 40 years of experience in the international mining...Read More
Seaborne high-grade manganese ore prices rallied for a third consecutive week on Friday July 2 with deals concluded at higher levels, while the seaborne low-grade market held amid thin liquidity ahead of a new round of offers from miners in South Africa.The high-grade manganese ore market rose as a result of buyers booking August-shipment material at higher prices compared with the previous month....Read More
Fastmarkets invited feedback from the industry on the pricing methodology for steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan, $/tonne (MB-STE-0464), via an open consultation process between June 1 and July 1, 2021.This consultation was done as part of our published annual methodology review process. No feedback was received during the consultation period and therefore no...Read More
Key data from the Friday July 2 pricing session in China.Key driversChina's spot domestic cobalt metal price maintained its upward momentum on Friday July 2, driven by continuing bullish sentiment and rising local future prices. Sellers succeeded in concluding small-volume deals at higher levels because some buyers with immediate needs started to restock to avoid further price increases.The rising...Read More
China's nickel sulfate price rose in the week ended Friday July 2, supported by a continuous shortage of mixed hydroxide precipitate (MHP) due to strong demand from the electric vehicle (EV) market, but sentiment has turned cautious amid the elevated price levels.Fastmarkets' weekly price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 34,500-35,000 yuan ($5,329-5...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy declined in the week to Friday July 2, with buyers reluctant to continue paying high prices.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,149.50 ($1,363.72) per tonne on July 2, down by ?,?41.64 per tonne week on week and down by ?,?0.50 per tonne month on month.The index was bas...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow were largely stable in the week to Monday July 5, aided by solid demand from construction.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 72,500-75,000 ($990-1,024) roubles per tonne on Monday, including 20% value-added tax, unchanged from last week.High const...Read More