Canadian iron ore exploration and development company Black Iron will negotiate offtake rights and financing with US commodities supplier Cargill for its Shymanivske iron ore project in Ukraine, Black Iron announced on Monday May 10.The offtake rights will involve the initial 4 million tonnes per year of production from the mine, while the financing will be for a $75 million facility to be used fo...Read More
The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More
Exports of ferrous materials from India could become more logistically challenging in the coming weeks while the country battles the Covid-19 pandemic, market participants have told Fastmarkets.The worst may still be to come for steel exports out of Covid-hit eastern India, sources said, because of a lack of available stevedores, forces majeures at ports and reduced steel output at certain plants....Read More
Prices for steel scrap imported into China continued to rise on Wednesday May 12 amid limited offers from major suppliers.Many sellers remain reluctant to offer cargoes because of the volatility in the downstream steel billet and finished steel markets, with offers mainly around $560-570 cfr China.Bids for imported HRS101-grade scrap were heard at $530 per tonne cfr northern China, which sources s...Read More
Iron ore prices rose on Wednesday May 12 because of the strong price performance for steel products, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $237.57 per tonne, up $8.64 per tonne 62% Fe low-alumina fines, cfr Qingdao: $240.00 per tonne, up $10.19 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $207.22 per tonne, up $7.15 per tonne 65% Fe Brazil-origin fines, c...Read More
Base metals prices on the London Metal Exchange edged higher across the board during morning trading on Wednesday May 12, after dipping earlier this week due to increasing concerns of inflation. "Industrial metals remained in risk-on mode, along with rising inflation expectations as 1 year breakeven inflation climbed further to just shy of 3%," Warren Patterson, Head of Commodities Strategy at ING...Read More
Domestic rebar prices in China held steady for a second day despite steady gains in the futures market, with destocking pressure keeping any upward momentum from taking hold.DomesticEastern China (Shanghai): 6,000-6,030 yuan ($933-938) per tonne, unchanged Some sellers raised their offers by 10-20 yuan per tonne upon seeing the gains in the futures market, but buyers snubbed these. Instead, they w...Read More
Base metals prices on the London Metal Exchange were little changed and consolidating this morning, Wednesday May 12, this after some choppy trading in recent days.Traders wary of contagion from weaker equity markets Asia-Pacific equities mainly weaker, especially in Taiwan Markets focused on Wednesday's Consumer Price Index (CPI) data from United States Base metalsLME three-month base metals pric...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday May 12.Key drivers The European ferro-titanium spot market price range narrowed lower over the week, with the top end dropping below $8 per kg for the first time since December 15. Persistently quiet business conditions for several weeks has gradually eroded alloy prices, with firm sales to the United States and Asia tightening Euro...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...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 20.00-20.50...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.Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt hydroxide...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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 market for the higher grade of high carbon ferro-chrome inched upward on Tuesday May 11 due to strong end-use demand, while the lower grade ticked down following lower offers for Indian material. Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe price assessment widened upward by 1 cent (0.4%) to $1.20-1.49 per lb Cr on Tuesday May 11 from $1.2...Read More
The export steel billet price from the Commonwealth of Independent States (CIS) region jumped again on Wednesday May 12, this time by $45 per tonne following Tuesday's $37-per-tonne increase, after customers in Latin America and China accepted higher levels in fresh deals. Fastmarkets' daily steel billet index, export, fob Black Sea, CIS rose to $725 per tonne on Wednesday, from $680 per tonn...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Thursday May 13, this after some choppy trading in recent days and the greater-than-expected pick-up in the US Consumer Price Index (CPI) on Wednesday.* US CPI rises 4.4% year on year in April, and was up 0.8% month on month* Asia-Pacific equities weaken on Thursday* US treasury yields rise and forward curve steepensBase...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Wendy's added $0.21 to $22.19 after Truist raised its target price from $25 to $28.Canadian Tire (CTC.A) is expected to open higher after releasing higher than consensus first quarter sales and earnings.Amazon advanced $23.52 to $3,175.46 after Citigroup raised its target price from $3,750 to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 11 that are worth another look....Read More
Aluminium premiums across the globe were mostly unchanged in the week ending Tuesday May 11 on tight availability.Rotterdam duty-paid premium dips on LME spread volatilityUS Midwest remains at record highMJP premium static.Duty-unpaid premium well supportedFastmarkets' benchmark duty-unpaid Rotterdam aluminium premium remained at its highest since April 2018 in the week to Tuesday May 11.The daily...Read More