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
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
The whole London Metal Exchange complex fell on Thursday June 17 due to a high US dollar, with zinc and lead the hardest hit.The US Dollar Index touched 91.93 on Thursday, its highest level since April 13. This followed a more hawkish view expressed by the US Federal Reserve regarding inflation and interest rates, delivered on June 17.The three-month price of zinc fell the furthest, to $2,911.50 p...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 16.Please click...Read More
Joseph Carrabba, formerly chairman, president and chief executive officer of Cleveland-Cliffs, has been named CEO of ElementUS Minerals, the company has said.Carrabba was at Cleveland-Cliffs, at one point known as Cliffs Natural Resources, from 2005 to 2013. Prior to this, he had spent more than 20 years in executive leadership at Rio Tinto, holding positions in its North American, Australian, Asi...Read More
Turkish steel mills extended their silence in the deep-sea scrap market on Thursday June 17, with market participants reporting no new bookings for the second day in a row and describing the market as "quiet."Two cargoes heard booked earlier in the week, but brought scrap prices down by $10 per tonne. This week, Turkish steel mills have mostly focused on selling rebar in the export market, with Fa...Read More
Hot-rolled coil prices in the United States have held above $84 per hundredweight ($1,680 per short ton) for five consecutive business days, with mills struggling to meet buoyant demand, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.22 per cwt ($1,684.40 per ton) on Thursday June 17, down by 0.75% from $84.86 per cwt on Wednesday June 16...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
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
Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on late Wednesday June 16.The Brazilian mining company expects the tests - of an automated train that will cover around 16 km in Brazil's southeastern Minas Gerais state, where Timbopeba is located - to last one or two month...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
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...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
Turkish steel mills extended their silence in the deep-sea scrap market on Thursday June 17, with market participants reporting no new bookings for the second day in a row and describing the market as "quiet."Two cargoes heard booked earlier in the week, but brought scrap prices down by $10 per tonne. This week, Turkish steel mills have mostly focused on selling rebar in the export market, with Fa...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
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