Turkish steel producers remained quiet in the deep-sea scrap market and instead continued to focus on finished steel, sources told Fastmarkets on Tuesday June 1.The most recent deep-sea trade was done at the end of last week, when a steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr.The US cargo resulted a furth...Read More
The seaborne premium hard coking coal price in the cfr market jumped on Monday May 31, with a deal heard done at $275 per tonne cfr China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.89 per tonne, up $1.09 per tonnePremium hard coking coal, cfr Jingtang: $284.65 per tonne, up $21.19 per tonneHard coking coal, fob DBCT: $129.95 per tonne, unchangedHard cokin...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 1 that are worth another look.Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."German carmaker Volkswagen will halt...Read More
Domestic prices for hot-rolled coil in the EU increased in the week to Friday May 28, supported by continuing coil shortages and good demand.The mood in the market, however, has changed due to a decline of prices in China.Sentiment in the European coil segment has turned from bullish to mixed, with buyers starting to believe that a recent price correction in China might put an end to the price ris...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum.* Brent crude oil is back above $70 per barrel, the highest it has been for two years. * Tuesday’s manufacturing purchasing managers’ index (PMI) d...Read More
Seaborne low- and high-grade manganese ore prices held steady in the week to Friday May 28, with participants in the market awaiting for miners to make offers for July-shipment in the following week. Fastmarkets' manganese ore index 37% Mn, cif Tianjin was unchanged week on week at $4.50 per dry metric tonne unit (dmtu) on May 28.No liquidity was reported to Fastmarkets, while there was concern am...Read More
China's nickel pig iron (NPI) prices widened downward last week amid a sliding stainless steel market, while the cif China discount for ferro-nickel decreased in the past month.Fastmarkets assessed the nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,125-1,150 yuan ($177-181) per nickel unit on Friday May 28, widening downward by 10 yuan (0.4%) per nickel unit from 1,135-1,150...Read More
Union workers at BHP's Spence mine in northern Chile have overwhelmingly rejected the latest wage proposal from the company, according to a post on the Spence union's website on Saturday May 29.Some 1,091 workers out a total of 1,126 voted against the latest wage offer from BHP, union management at Spence...Read More
The latest data for the global manganese ore market for the week ended May 31, 2021.Read More
Import prices for rebar in Singapore continued to fall in the week to Monday May 31 amid sustained bearishness in the Asian market, sources said.Buyers continued to abstain from purchases, and instead watching out for when offers stop falling in the region before they commit to any cargoes, a buyer source in Singapore told Fastmarkets.Most major buyers also have a lot of inventory, which makes it...Read More
Seaborne iron ore concentrate and pellet prices plunged further in the week ended Friday May 28 amid downward pressure from the bigger fines segment of the market.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $61.00 per tonne, down $0.10 per tonne66% Fe concentrate, cfr Qingdao: $213.91 per tonne, down $30.21 per tonne65% Fe blast furnace pellet, cfr Qingdao: $279.82 per...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
China's domestic rebar prices rose sharply on Monday May 31 following strong gains in the billet market over the weekend, but demand decreased in response to the increases.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($785-790) per tonne, up by 170 yuan per tonne A $6-trillion budget for the United States' fiscal year 2022 unveiled by President Joe Biden last Friday led to bullish sentiment...Read More
Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.Activist shareholders Engine No1 will hold two seats on...Read More
China's relentless "suggestions" to industry that it wants to see stable commodity prices appear to have suppressed speculative behavior and are beginning to cool bullish market conditions, sources told Fastmarkets on Thursday May 27.Rising commodity prices were highlighted for the third time in 14 days, on Wednesday May 26, during the the weekly executive meeting of China's State Council, le...Read More
Seaborne low- and high-grade manganese ore prices held steady in the week to Friday May 28, with participants in the market awaiting for miners to make offers for July-shipment in the following week. Fastmarkets' manganese ore index 37% Mn, cif Tianjin was unchanged week on week at $4.50 per dry metric tonne unit (dmtu) on May 28.No liquidity was reported to Fastmarkets, while there was concern am...Read More
The seaborne premium hard coking coal price in the cfr market jumped on Monday May 31, with a deal heard done at $275 per tonne cfr China, sources told Fastmarkets. Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.89 per tonne, up $1.09 per tonnePremium hard coking coal, cfr Jingtang: $284.64 per tonne, up $21.19 per tonneHard coking coal, fob DBCT: $129.95 per tonne, unchangedHard coki...Read More
Union workers at BHP's Spence mine in northern Chile have overwhelmingly rejected the latest wage proposal from the company, according to a post on the Spence union's website on Saturday May 29.Some 1,091 workers out a total of 1,126 voted against the latest wage offer from BHP, union management at Spence...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
Bill Gates has a theory about green premiums: He wants to eliminate them entirely. The American business magnate and philanthropist calls green premiums the additional cost of choosing a clean technology over one that emits a greater amount of greenhouse gases.In other words, the price that metals and mining companies are starting to charge their customers for producing low-carbon produc...Read More