Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.The price increase was due to high raw material costs and similarly higher prices for imported steel.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was at 6,910-7115 Reais ($1,311-1,350) per tonne on Fri...Read More
Domestic prices for hot-rolled coil in Europe were largely unchanged on Monday May 17, supported by material shortages and strong demand, sources told Fastmarkets.Market sources said the number of transactions over the past week had been minimal, however, because mills have only limited volumes of coil with long lead times and the buyers have been cautious about doing deals - concerned that if the...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More
Turkish steel mills made no deep-sea scrap bookings on Monday May 17, the first working day of the week after the Eid al-Fitr holiday, market participants told Fastmarkets.The post-Ramadan religious holiday began on the afternoon of May 12.The country was also under full lockdown between April 29 and May 16 amid a third wave of Covid-19 cases."People are returning from the holiday and lockdown per...Read More
Turkish domestic scrap prices increased further in the past week due to rising imported scrap values, market participants said on Monday May 17.Following the most recent deep-sea scrap transactions, prices for the material have already exceeded $500 per tonne cfr, sources said.Late on Wednesday May 12, a steel mill in the Iskenderun region booked a Baltic sea cargo comprising 18,000 tonnes of HMS...Read More
Seaborne iron ore prices jumped on Monday May 17 due to increased liquidity in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $217.77 per tonne, up $8.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.80 per tonne, up $9.61 per tonne58% Fe fines high-grade premium, cfr Qingdao: $186.65 per tonne, up $7.36 per tonne65% Fe Brazil-origin fines, cfr...Read More
Seaborne coking coal prices maintained their upward trend in the cfr market amid low supply and necessary procurement activities, while the fob market was largely stable because most market participants had adopted a wait-and-see attitude on Monday May 17, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $120.84 per tonne, down $0.39 per tonnePremium hard coking coal...Read More
Prices for seaborne iron ore pellets and concentrate rose again in the week to Friday May 14 despite volatility in the futures market.Fastmarkets iron ore indicesIron ore pellet premium over 65% Fe fines, cfr China: $61.50 per tonne, unchanged 65% Fe blast furnace pellet, cfr Qingdao: $314.50 per tonne, up $30.38 per tonne66% Fe concentrate, cfr Qingdao: $254.43 per tonne, up $27.06 per tonneKey d...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesMay 7, 2021, 180 tonnes (15 tonnes each month for January to December 2022, all at $20.70 per lb)May 6, 2021, 60 tonnes (5 tonnes each month for January to December 2022, all at $20.60 per lb)April 30, 2...Read More
Prices of base metals on the London Metal Exchange were up during morning trading on Monday May 17, with lead gaining the most in percentage terms, after a week which saw all prices reach new highs, before ending lower on Friday.Three-month lead was trading at $2,179.50 per tonne at 9am on Monday, up 1.1% from Friday's closing price of $2,155 per tonne. The contract ended last week 2.6% lower on F...Read More
China's hot-rolled coil prices fell further on Monday May 17 amid thin trading resulting from concerns over how a fresh wave of Covid-19 infections sweeping across the world would affect the manufacturing sector.DomesticEastern China (Shanghai): 6,000-6,050 yuan ($932-940) per tonne, down 160-400 yuan per tonneSeveral countries, including India, Japan and Brazil, have reported sharp increases in t...Read More
Healthy demand from the consumer electronics sector and shipping delays kept the tantalum concentrate price at its highest level on Fastmarkets records on Friday May 14. Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China at $75-78 per lb on Friday, level week on week at its highest since Fastmarkets started assessments in May 2020 - when it stood at $65-66 per lb. The...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, in-whs...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,...Read More
GEM chairman Kaihua Xu has worked on building a path for recycling in China since the mid-1990s - he recalls the key steps and discusses the growth and outlook for one of China's leading recycling businesses.Founded in December 2001, GEM Co., Ltd has become one of the leading battery recyclers and battery materials producers in China. The company contributes to 10% of recycling of electronics wast...Read More
Key data from Fastmarkets' pricing session in China on Friday May 14.Key drivers Sentiment in Chinese silicon market turns bullish amid rising prices for upstream raw materials and downstream ADC 12 aluminium...Read More
Prices for imported rebar in Singapore surged during the week to Monday May 17 due to bullish sentiment caused by the soaring prices in China, market sources said.Offers increased to $800 per tonne cfr Singapore on a theoretical weight basis for back-to-back cargoes from Turkey, and $790 per tonne cfr Singapore for position cargoes from India, notably from a major blast furnace-based Indian steel...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 firmer* United States Federal Reserve officials stick to their view that inflationary pressures w...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Equity index futures were virtually unchanged following release of April U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.710 million units from 1.759 million units in March. Actual was 1.569 million units.Home Depot advanced $7.62 to $327.63 after reporting higher than conse...Read More
Here are five Fastmarkets stories you might have missed on Friday May 14 that are worth another look.Some Chinese ports have made stricter checks or have imposed extra fees on iron ore cargoes from India recently, the better to prevent the spread of the Covid-19 pandemic, market sources have told Fastmarkets.Africa-origin copper shipments were facing delays as long...Read More