Coking coal prices increased in the cfr China market on Thursday June 17 amid active buying between North American suppliers and Chinese traders, sources said.The fob market, however, remained largely stable on firm demand, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $174.10 per tonne, up $0.24 per tonnePremium hard coking coal, cfr Jingtang: $283.37 per tonne,...Read More
Iron ore prices went up on Thursday June 17, supported by improved liquidity in the physical markets, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $220.82 per tonne, up $6.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.01 per tonne, up $5.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $188.48 per tonne, up $3.56 per tonne65% Fe Brazil-origin...Read More
Hot-rolled coil prices in China's domestic market edged higher on Thursday June 17 while the ferrous complex rose across the board on supply concerns, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,480-5,500 yuan ($853-856) per tonne, up by 20-40 yuan per tonne.Spot prices climbed up on Thursday, while the most-traded HRC contract on the Shanghai Futures Exchange clawed back about 90...Read More
China's domestic rebar prices continued dropping on Thursday June 17, but the pace of the decline was much slower after a pick-up in futures values driven by market participant expectations of a fall in supplies.DomesticEastern China (Shanghai): 4,970-5,000 yuan ($773-778) per tonne, down by 10 yuan per tonneThe Work Safety Commission of China's State Council has sent teams to steel mills to check...Read More
China's domestic stainless steel prices rose in the week ended Wednesday June 16, building upon gains accrued since late May, but market participants expect the upward momentum to halt in the near term. One reason behind this bearish view is the weakness exhibited in nickel futures in recent days.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wed...Read More
Volkswagen Group is seeking partnerships with battery raw material producers in order to vertically integrate and achieve security of supply and competitive prices for its minerals needs, a spokesperson for the German automaker told Fastmarkets on Thursday June 17.This is in line with the company's strategy to move forward with the electrification of its fleet. Besides gaining security of supply,...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 20.20-20.95 on Thursday June 17, 2021.Purchase...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...Read More
Most producers of cobalt sulfate in China kept their offers high in the past week but buyers put up resistance and were cautious about placing orders, sources told Fastmarkets.Producers were asking for 71,000-73,000 yuan ($14,738-15,153) per tonne during the week, the same as a week earlier, but buyers were not willing to pay these amounts. As such, only a few deals were said to have been conclude...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
Prices for steel scrap imported into China were unchanged on Thursday June 17, with only limited negotiations between buyers and sellers.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $530-540 per tonne on Thursday, unchanged day on day. Offers from Japan were heard at $570-580 per tonne...Read More
Export prices for Japanese steel scrap have continued to rise over the past week amid high demand from South Korea as well as local buyers in Japan, sources told Fastmarkets.The scrap export market for Japan resembled a tug-of-war last week, with a major South Korean buyer lowering its bid prices by ?1,000 ($9) per tonne while the outcome of the June 9 auction of the Kanto Tetsugen - a cooperativ...Read More
Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.* The more hawkish stance from the United States Federal Reserve on Wednesday lifted the dollar but has weighed on sentiment...* ...as has China’s decision to release state reserves of copper, a...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 30 points in pre-opening trade.Volume on U.S. equity, futures and options exchanges is expected to surge. Today is "quadruple witching day" when June equity and index options and futures expire. Adobe added $10.54 to $561.90 after reporting higher than consensus second quarter revenues and earnings. Target on the stoc...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
Nickel premiums in the United States rose again in the seven days to Tuesday June 15 on the back of continued strikes at Vale's Sudbury mine, while premiums in Asia and Europe remained stable in a week of low liquidity.US briquette premium rises 16.7%, surpassing 20 cents per lb for the first time since 2019 Arbitrage losses continue in China, although spot market quiet due to national holidayEuro...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
Tightening supply and strong demand supported China's domestic and imported alloy markets in the week ended Tuesday June 15.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, narrowed upward by 100 yuan per tonne (0.7%) to 7,600-7,800 yuan ($1,187-1,219) per tonne on Tuesday, from 7,500-7,800 yuan per tonne the previous week.Spot supply has tightened since power...Read More
Rio Tinto has announced it will conduct a study into whether hydrogen can replace natural gas in alumina refineries to reduce emissions, it said on June 15.Rio Tinto has partnered with the Australian Renewable Energy Agency (Arena) for the $1.2 million feasibility study, which will be equally funded with Arena through a $580,000 grant.The study will look into using clean hydrogen to repl...Read More