Key data from the Friday June 4 pricing session in China.Key drivers China's cobalt metal price rose amid strength in the local futures market; downstream buying activity also picked up slightly with some buyers placing several orders due to concerns of further price increases. The Chinese cobalt tetroxide price was unchanged with...Read More
Domestic hot-rolled coil prices in Europe were fairly stable on Monday June 7, with the bullish mood cooling, sources told Fastmarkets.While shortages are likely to remain a problem for buyers throughout 2021, end users have started to resist further price increases, sources said. After continuously raising prices through April and May, mills have kept their official offers unchanged and will cont...Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 4, but the pace of the rally has slowed compared with previous weeks. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,148.57 ($1,397.26) per tonne on June 4, up by ?,?12.32 per tonne week on week and by ?,?137.57 per tonne month on month. Friday's index was ba...Read More
Steel re-rollers in Tangshan's Fengrun district have been asked to cut their production from June 4-13 in an attempt to control air quality, sources said.But some re-rollers have already resumed their production, other market participants told Fastmarkets.One weather forecast website shows that the Fengrun area should experience heavy air pollution in the coming week, Fastmarkets heard.Gao Jianmin...Read More
ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was steady in the week to Monday June 7, aided by solid demand from end-users, sources told Fastmarkets.Tula Steel was heard offering rebar to the region at 75,000-77,000 roubles ($1,029-1,057) per tonne cpt, sources said, compared with 75,000 roubles per tonne heard seven days ago.Severstal was offering June-delivery reba...Read More
Export prices for wire rod and rebar from the Commonwealth of Independent States (CIS) were broadly unmoved in the week to Monday June 7, with trading activity to key destinations remaining weak, sources told Fastmarkets.Wire rodFastmarkets' weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS was at $840-860 per tonne fob on Tuesday, widening from $845-855 per ton...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese steel scrap prices were supported by firm downstream steel prices earlier this year, but they fell sharply over the second half of May. The drop in scrap prices in the latter half of the month came after authorities signalled a wish to cool down commodity prices, including those for steel and steelmaking raw material...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
The export market for steel billet originating from the Commonwealth of Independent States was quiet on Monday June 7 with no trading reported due to an offer-bid mismatch. Billet offers from CIS producers were heard in the range of $650-670 per tonne fob on Monday, little changed compared with the end of last week. No buying activity was reported for these offer prices. Small tonnages of billet f...Read More
The Indian silico-manganese export price moved up for the fourth week in a row on Friday June 4, extending its longer-term rally since February 12 on renewed steelmaker demand and tight availability. Fastmarkets assessed the silico-manganese, 65% Mn min, min 16% Si, fob India price at $1,400-1,430 per tonne on Friday, up by about 3.3% from $1,360-1,380 per tonne week on week. The price is at...Read More
ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
Physical commodities trading company Trafigura Pte Ltd and agricultural commodities firm Yara International ASA have signed a memorandum of understanding (MoU) to collaborate on the development and promotion of ammonia as a clean fuel in shipping, Trafigura said. The companies have also agreed to explore opportunities to work together on certain clean green and blue ammonia fuel infrastructure and...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Biogen added $0.95 to $396.80 after Cowen upgraded the stock to Buy following news of FDA approval of Biogen's Alzheimer's treatment. Oppenheimer raised its target on the stock from $305 to $450.Marvell Technology advanced $2.53 to $50.80 after reporting higher than consensus first quart...Read More
Key data from Fastmarkets' pricing session in China on FridayJune 4.Key drivers The China silicon price narrowed slightly down following a correction to the previous price rally, but overall sentiment remains positive...Read More
China's domestic magnesium price increased sharply after authorities in Zhongwei - a key ferro-alloy production hub in Ningxia Hui Autonomous Region - issued a production cut notice due to high energy-consuming enterprises on Thursday June 3.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 18,300-19,000 yuan ($2,861.07-2,970.51) per tonne on Friday June 4, an increase of 300...Read More
Here are five Fastmarkets stories you might have missed on Friday June 4 that are worth another look.Brazilian iron ore producer Vale has halted part of the railroad it uses for exports following a warning from an authority about tailings dam risks, causing a production stoppage at its Timbopeba plant and...Read More
Here are five Fastmarkets stories you might have missed on Friday June 4 that are worth another look.Brazilian iron ore producer Vale has halted part of the railroad it uses for exports following a warning from an authority about tailings dam risks, causing a production stoppage at its Timbopeba plant and...Read More