Seaborne premium hard coking coal price surged in the fob market on rising activity, but cfr prices were largely stable on Tuesday on May 18, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $123.63 per tonne, up $2.84 per tonnePremium hard coking coal, cfr Jingtang: $273.15 per tonne, down $0.80 per tonneHard coking coal, fob DBCT: $107.96 per tonne, down $2...Read More
China's hot-rolled coil prices rebounded on Tuesday May 18 amid news of fresh restrictions in the country's Tangshan region, its steel production hub.DomesticEastern China (Shanghai): 6,100-6,120 yuan ($947-950) per tonne, up by 70-100 yuan per tonneTangshan's municipal government has ordered steel mills to suspend their sinter equipment for the first 10 hours from midnight from Tuesday until Thur...Read More
China's will strengthen the exploration and development of its domestic iron ore resources and work to ensure that steel capacity cuts are fully observed, according to it economic planner. "Domestically, we will intensify the exploration and development of iron ore resources, accelerate the construction of new and ongoing iron ore projects, and improve consumption of recycled iron-steel materials,...Read More
The zinc price set a new year-to-date high in the morning of Tuesday May 18 on the London Metal Exchange, with worries about the recent political developments in Peru creeping into investor sentiment, while a dollar at its weakest since the end of February pushed most metals prices up too. Zinc's three-month price reached $3,108.50 per tonne on Tuesday during early trading, the most since June 15,...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Tuesday May 18, and once again recent dips have been short-lived and not that deep, suggesting sentiment remains robust.Inflation concerns remain elevated, US treasury yields and gold firmerUnited States Federal Reserve officials stick to their view that inflationary pressures will...Read More
Ferroglobe PLC halved its losses quarter on quarter due to higher prices for silicon metal and alloys and manganese alloys in the first quarter ended March 31, according to results released on Tuesday May 18. It was, however, the 13th quarterly loss in a row for the western world's biggest producer of silicon.Higher staffing costs related to the company's ongoing restructuring, including effo...Read More
Glencore "will not hesitate bringing back online part or all" of its Mutanda copper-cobalt asset in the Democratic Republic of Congo, head cobalt trader David Brocas said.But a restart is conditional on a clearer profile for cobalt consumption including a long-term commitment to cobalt purchases from buyers, he added on Tuesday May 18 during the Cobalt Institute's annual conference."We want a stab...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...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,...Read More
A summary of the financial results for Indian steelmaker Jindal Stainless Ltd (JSL) of its fourth quarter ending March 31 of its 2020-21 business year.In brief A strong recovery in domestic stainless steel demand continued in the January-March period, JSL said.There was a healthy revival in demand at JSL's pipe & tube segment, along with railways & allied infrastructure, including the metro segmen...Read More
German steelmaker Thyssenkrupp has signed a joint letter of intent with recycler TSR to explore the use of high-quality scrap in its blast furnaces to reduce carbon emissions, the company said on Monday May 17.The use of recycled raw materials in blast furnaces helps to strengthen the circular economy, reduces use of carbon-containing reducing agents and decreases carbon dioxide (CO2) emissions, a...Read More
U.S. equity index futures were lower this morning. The S&P 500 Index was down 42 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US82.87 cents prior to release of Canada's April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.5% in March. Actual was an increase of 0.5%. On a year-over-year basis, April CPI rose 3.4%.Take Two...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Molybdenum prices rose 15% during last week's trading when a combination of low inventories, steady consumption and high copper prices brought the already-limited production outlook into sharp focus. Would-be buyers found themselves caught short or with limited offers last week after a strong first quarter gave way to slower activity in April"I don't know how healthy this rally is, but I'd be feel...Read More
The bullish momentum on the London Metal Exchange resumed on Monday May 17, following a pullback at the end of last week, with lead and zinc leading and returning to prices they had hit one week earlier when most metals set new LME year-to-date peaks. At $3,014 per tonne on Monday at 5pm, LME zinc's three-month price had the largest increase from Friday's close of $2,938, which had been a 1.8% fal...Read More
The latest data for the global manganese ore market for the week ended May 17, 2021.Read More
The first phase of Shandong Nanshan Aluminium's alumina project in Indonesia recently started trial production, sources told Fastmarkets on Monday May 17.The development of the alumina refinery is separated into two phases and will eventually have a total production capacity of 2 million tonnes per year, with 1 million tpy coming online in phase one and the rest in the project's second phase, whic...Read More
China's nickel pig iron (NPI) prices followed the uptrend in stainless steel in the week to Friday May 14, while nickel ore prices stabilized, sources told Fastmarkets.Fastmarkets' price assessment for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,135-1,150 yuan ($176.30 -178.60) per nickel unit on May 14, up by 50-55 yuan (4.8%) from 1,080-1,100 yuan per nickel unit a...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Key data from pricing session in London on Monday May 17Key drivers: Offers and bids below the previous range led to a fall in prices despite the fresh inquiries from China. Prices are yet to hit a level where...Read More