Iron ore prices were up on Monday July 5 with market sentiment improving because of the easing of restrictions in China's steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.82 per tonne, up by $3.84 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.14 per tonne, up by $3.57 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184...Read More
Seaborne coking coal prices were largely stable in the cfr market on Monday July 5, but surged in the fob market due to some buyers starting purchase material to restock, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $203.20 per tonne, up $3.14 per tonnePremium hard coking coal, cfr Jingtang: $307.85 per tonne, up $0.27 per tonneHard coking coal, fob DBCT: $173.42...Read More
China bucked the trend among major iron ore importers by continuing to increase its purchases of the steelmaking raw material from abroad in 2020.The country imported 1.17 billion tonnes of the iron ore last year, an increase of 9.4% compared with 2019.European Union countries collectively accounted for the largest decrease among major iron ore importers, with purchases tumbling 20.8% year on year...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
Prices for seaborne iron ore pellets and concentrate rose in the week ended Friday July 2, albeit at a slower pace than a week earlier amid temporary restrictions on sintering and blast furnace operations in certain parts of China.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $62 per tonne, unchanged65% Fe blast furnace pellet, cfr Qingdao: $301.21 per tonne, up...Read More
Vale has completed maintenance on its ship loader CN6 at its Ponta da Madeira port terminal in the northern Brazilian state of Maranh??o, which caught fire in January, it said on Friday July 2.The miner has started the commissioning of the ship loader after a five-month maintenance, in line with its schedule announced earlier this year.It has replaced more than 60% of the components of the ship lo...Read More
Hot-rolled coil prices across China's domestic market cruised higher on Monday July 5, with the futures market riding an upward wave across the ferrous complex. DomesticEastern China (Shanghai): 5,500-5,540 yuan ($851-858) per tonne, up by 60-70 yuan from 5,430-5,480 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange gained more than 1% to end the day at 5,494 yuan per t...Read More
China's domestic rebar prices increased on Monday July 5 amid higher trading activity and stronger futures prices.DomesticEastern China (Shanghai): 4,870-4,900 yuan ($754-759) per tonne, up by 40 yuan per tonneMarket participants expect steel production to drop in the second half of this year to meet a target set late last year by the Chinese Ministry of Industry & Information Technology (MIIT).Th...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 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 Cobalt alloy grade, in-whs Rotterdam,...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 Cobalt standard grade, in-whs Rotterdam, $/lb at 23.60-24.25 on...Read More
Key data from Fastmarkets' pricing session in China on Friday July 2.Key drivers The Germanium price in China ticked up on Friday July 2 amid firm offer prices from producers, with sources reporting that downstream buyers, who had hand-to-mouth demand, were gradually accepting the rising prices....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
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Base metals prices on the Shanghai Futures Exchange, apart from those for lead, were up during morning trading on Tuesday July 6. Those on the London Metal Exchange were mixed, but that was after a generally positive day on Monday.Brent crude oil climbs after Organization of Petroleum Exporting Countries fail to agree a production increase.Base metalsLME three-month base metals prices were mixed t...Read More
U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 2 points in pre-opening trade.Gold gained $27.50 to $1,810.70 per ounce in response to U.S. Dollar weakness.Apple gained $0.29 to $140.25 after JP Morgan raised its target price from $165 to $170.Nvidia advanced $11.19 to $830.67 after KeyBanc Capital raised its target price from $775 to $950 American Express...Read More
Here are five Fastmarkets stories you might have missed on Friday July 2 that are worth another look.Prices for flat-rolled steel products imported into South America were down in the week ended July 2 because of lower prices on an fob basis in China, and with fewer offers in the market while mills prepared for September-shipment negotiations.Read More
Here are five Fastmarkets stories you might have missed on Friday July 2 that are worth another look.Prices for flat-rolled steel products imported into South America were down in the week ended July 2 because of lower prices on an fob basis in China, and with fewer offers in the market while mills prepared for September-shipment negotiations.Read More
Here are five Fastmarkets stories you might have missed on Friday July 2 that are worth another look.Prices for flat-rolled steel products imported into South America were down in the week ended July 2 because of lower prices on an fob basis in China, and with fewer offers in the market while mills prepared for September-shipment negotiations.Read More