Sentiment in the steel wire rod market in the south of Europe remained quite optimistic over the past week, aided by persistent shortages, good demand and expensive raw materials, Fastmarkets heard on Wednesday June 2.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?820-840 ($1,001-1,025) per tonne on June 2, up from ?,?800-810 per...Read More
No bulk scrap cargoes have been sold into Bangladesh over the past seven days, following the flurry of deals in the middle of last week, sources told Fastmarkets on Thursday June 3.HMS 1&2 (80:20) was on offer from the United States at $525-530 per tonne cfr earlier this week, but no new deals were done, sources said, with the most recent US deals being two deep-sea cargoes of shredded scrap that...Read More
Iron ore prices pushed up on Thursday June 3, supported by rising steel and coke values, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $210.99 per tonne, up $1.80 per tonne62% Fe low-alumina fines, cfr Qingdao: $212.81 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cfr Qingdao: $184.58 per tonne, up $2.28 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $241....Read More
Seaborne premium hard coking coal prices climbed up in the fob market on Thursday June 3 amid more buying interest but slightly slipped in the cfr market due to weak demand after some major Chinese steel mills finished restocking late last week and early this week, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.77 per tonne, up $7.93 per tonnePremium hard coki...Read More
Prices for steel scrap imported into China edged up on Thursday June 3 amid improving sentiment in the domestic market, sources said.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China - which takes into account prices at ports in eastern China - was $510-530 per tonne on Thursday, up by $10-15 from Wednesday.Many Chinese mills raised their purchase price...Read More
China's Delong Group and New Tianjin Steel are partnering on two projects to further develop steel-making capacity in Indonesia, the companies said on May 30.New Tianjin Steel - a subsidiary of Delong Group, Tsingshan Group and Risun Group - signed a contract to build Detian Coking Project, together with supporting facilities such as gas purifiers. The new coke plant will produce 4.7 million tonne...Read More
China's domestic rebar prices continued to increase on Thursday June 3 on futures gains, but heavy rains slowed the increase compared with Wednesday's uptick, sources told Fastmarkets. DomesticEastern China (Shanghai): 5,030-5,050 yuan ($787-790) per tonne, up by 30 yuan per tonne The transportation of rebar by truck and construction activity were interrupted by heavy rains in certain parts of eas...Read More
China's domestic stainless steel prices moved up over the week ended Wednesday May 2 on a strengthening of the nickel market, but demand weakened.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,173 per tonne, up by $975 per tonne from $17,198 per tonne a week earlier. The most-traded July nickel contract on the Shanghai Futures Ch...Read More
Key data from the pricing session in London on Thursday June 3.Key drivers: Thursday was a busy day of trading, with 41 tonnes of business captured in the pricing session. Material was transacted either side of the price range for standard grade,...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...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 19.80-20.60...Read More
Ukraine's Privat Group, a major producer of manganese alloys, hit a monthly production target for May of almost 59,000 tonnes at its Nikopol ferro-alloys plant, up by about 2,000 tonnes from April amid strengthening European prices this year, an industry source said.Privat is also considering whether to start an additional silico-manganese furnace at Nikopol, which would use low-phosphorus slag as...Read More
Five grades of steel scrap will no longer need to undergo customs inspections at ports in China when they are imported into the country, beginning on June 10.But five other grades of the steelmaking raw material will undergo such inspections from the same date.China's General Administration of Customs said on Thursday June 3 that it would no longer carry out imported commodity inspections on a lis...Read More
China's Ceke Port has requested the country's customs authorities to clear only 90 trucks per day from Mongolia - instead of the typical 200 per day - from Wednesday June 2 after a truck driver tested positive for Covid-19 a day earlier, sources told Fastmarkets.Ceke Port - located in Alashan League, a division of China's Inner Mongolia autonomous region - is a major port of entry on the country's...Read More
Index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade.U.S. equity futures moved slightly higher following release of the May employment report at 8:30 AM EDT. May Non-farm Payrolls were expected to increase to 671,000 from upwardly revised 278,000 in April. Actual was 559,000. May Unemployment Rate was expected to slip to 5.9% from 6.1% in April. Actual...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 2 that are worth another look.Recent weakness in Chinese export hot-rolled coil prices are likely to have minimal impact on prices in Turkey and the Commonwealth of Independent States - major flat steel suppliers - at least in the short term,...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 2.Please click...Read More
Nickel and zinc's three-month prices were the main metals to register small rises on June 2, while aluminium and copper futures contracts fell on a day of low volumes on the London Metal Exchange with the complex still finding its direction following a strong end to May. LME nickel's three-month price rose slightly to $18,236 per tonne on Wednesday from $18,130 per tonne on Tuesday, despite hittin...Read More
Chilean copper output fell 1.98% in April, compared to the same month of 2020, due to volume decreases from major producers like Codelco, Escondida and Los Pelambres, according to data published by the country's copper commission, Cochilco, on Wednesday June 2.The country produced 461,200 tonnes of copper in April, down from 470,500 tonnes a year before. Production also fell 5.63% from 488,700 ton...Read More
The UG2 chrome ore market rose in the week ended Tuesday June 1 after buyers' confidence was buoyed following the higher-than-expected ferro-chrome tender prices for June, while cost pressure continued to support producers' offer prices. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China rose by $2 per tonne (1.3%) to $157 per tonne on Tuesday, from $155 per tonn...Read More