Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
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 downstream steel users, Fastmarkets learnt on Wednesday June 16.On June 11, the EC presented a draft document of the adjusted measures to member states, suggesting a three-year...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
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
Prices for steel hollow sections in Europe remained flat on Wednesday June 16 with feedstock costs remaining stable, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,320-1,340 ($1,600-1,625) per tonne on June 16, unchanged week on week."Stocks are diminishing rapidly, and new rollings are hard to come by with hot-roll...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
The hot-rolled coil price in China's domestic market extended its losses on Wednesday June 16 after the futures price fell for a second straight day on pessimist views for near-term steel demand. Domestic Eastern China (Shanghai): 5,440-5,480 yuan ($850-857) per tonne, down by 100-110 yuan per tonne. Two consecutive days of declines have sent the most-traded HRC contract on the Shanghai Futures Ex...Read More
A correction has been issued for this article. The...Read More
Chinese aluminium market sentiment dipped in the morning of Wednesday June 16 after the National Food & Strategic Reserves Administration announced moves to calm the overheated commodity market, yet optimism remains for aluminium's price performance in the second half of 2021. China announced on Wednesday it will release its national base metals reserves in the near term to stabilize commodity pri...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
European buyers of hot-rolled coil have been holding back from making deals for material, awaiting the European's Commission decision on import safeguard measures and clarity in the global market, sources told Fastmarkets on Wednesday June 16.Some buyers were still willing to accept current offer prices if they needed to restock specific materials, or if they were able to secure back-to-back deals...Read More
Price movements on the London Metal Exchange futures complex were mixed at the close of trading on Wednesday June 16, but were within the range of its Tuesday prices ahead of the US Federal Reserve's statement later in the day.Copper's three-month price, which fell by 4% on Tuesday to $9,569.50 per tonne, strengthened by 1% on Wednesday at 5pm to $9,667 per tonne. Its intraday low of $9,489 per to...Read More
European steel H-beam prices rose again on Wednesday June 16, with some mills closing their order books for July bookings, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,000-1,030 ($1,212-1,249) per tonne on June 16, up from ?,?970-1,000 per tonne one week earlier.Various European mills have stepped out of the market...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
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...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade. Response to the Federal Reserve's announcement on interest rates continued this morning. The U.S. Dollar Index extended gains recorded late yesterday. Gold dropped an additional $62.80 to $1,798.80 per ounce.Investors were waiting for announcement of economic news this morning. The June...Read More
Chinese automotive production and sales figures both fell on a monthly and annual basis, although figures for new energy vehicles still increased, according to the data from the China Association of Automobile Manufacturers (CAAM).Carmakers produced 2.04 million units in May, down by 8.70% month on month and 6.80% year on year, while sales came to 2.13 million units, down by 5.50% from April 2021,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Base metals prices weakened further during morning trading on the London Metal Exchange on Wednesday June 16, on news that the Chinese state reserve will sell copper, aluminium and zinc to ensure price stability. The three-month zinc price was down by 1.9% at 9am on Wednesday to $2,972 per tonne from its previous closing price of $3,029 per tonne. The metal had resisted sharp falls across the comp...Read More
Austrian steelmaking group Voestalpine has developed an industrial scale process for carbon-neutral steel production without the use of fossil carbon and secured the intellectual property rights to the process from the European Patent Office, the company said on June 15.The patent is valid in all major European steel manufacturing countries and specifically covers the production of sponge iron - d...Read More