Iron ore prices weakened again on Friday March 22 due to the newly introduced measures on emissions restrictions in Tangshan, , sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $157.01 per tonne,down $4.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.12 per tonne,down $4.55 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.08 per tonne,down $4.97 p...Read More
Prices for seaborne iron ore pellets rose in the week ended Friday March 19 amid a tightening of restrictions on steelmakers in Tangshan - China's steelmaking hub - to control emissions, sources said.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $192.18 per tonne, down $2.66 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $231.08 per tonne, up $3.65 per tonne Key driversLocal au...Read More
The New Tonkolili iron ore project in Sierra Leone has achieved full-scale operations, China's Kingho Investment Co Limited - its operator - said last Saturday March 20.The project, with estimated resources of 13.7 billion tonnes, is the world's single largest magnetite mine, according to China's Ministry of Commerce. Shandong Iron & Steel Group, a state-backed Chinese steelmaker, bought the mine...Read More
China's hot-rolled coil producers suspended their exports on Monday March 22 despite surging domestic prices amid uncertainties over whether the Chinese government would reduce its export tax rebate for steel products.DomesticEastern China (Shanghai): 5,060-5,120 yuan ($777-786) per tonne, up 70 yuan per tonneDomestic prices surged on Monday on rising futures.A Tianjin-based trader said that inves...Read More
Usually after a London Metal Exchange discussion paper there is a decent idea of what the outcome is likely to be. But this time around, it seems much harder to tell which path the LME will take. The proposals under debate include the permanent closure of the exchange's open outcry trading floor, known as the ring, which dates back to 1877. They also include the incentivization of electronic trade...Read More
The London Metal Exchange three-month zinc price rose by the most in the base metals complex on Monday March 22, while the aluminium price reached a new year-to-date high amid continued cancellations at LME warehouses. Zinc's futures price was at $2,874.50 per tonne on Monday at 9am, having reached $2,880 per tonne during earlier trading, the most for the metal since February 25. Monday morning's...Read More
Base metals prices on the London Metal Exchange were mixed on Monday March 22, while those on the Shanghai Futures Exchange were up across the board. United States 10-year treasuries yields have eased to 1.67%, from recent highs of 1.75%Base metals LME three-month base metals prices were mixed, with copper, aluminium and lead down by an average of 0.5%, while the rest of the metals were up by an a...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....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 Rotterdam,...Read More
The supply-driven rally in antimony prices that was buoyed by an ore shortage and shipping delays has now stalled, and the upward momentum has probably ended, market participants told Fastmarkets on Monday March 22, with some of them now expecting prices to fall."It does appear that antimony has 'done' its upside, from what we can see, and - if anything - [the uptrend] is now running out of steam,...Read More
The downtrend in China's cobalt sulfate market accelerated in the week to Friday March 19 on weak buying interest and a widening gap between offers for material produced from cobalt hydroxide and that produced from scrap.Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China fell to 81,000-83,000 yuan ($12,434-12,741) per tonne on Friday March 19, down by 4,000 yuan per tonne (...Read More
Key data from the pricing session in the Shanghai on Friday March 19.Key drivers Domestic producers continued to raise their offers on the expectation that prices could surpass 50,000 yuan ($7,675) per tonne. Traders and downstream consumers refused to accept any prices above 48,000 yuan...Read More
The Indian export price for silico-manganese jumped by nearly 9% on Friday March 19 to the highest since Fastmarkets started to assess the market in June 2014. Fastmarkets assessed the silico-manganese, 65% Mn min, min 16% Si, fob India price at $1,250-1,280 per tonne on Friday, up by $100 per tonne, or 8.58%, week on week. The previous high of $1,220-1,260 per tonne was achieved in February...Read More
Fluctuating global prices and erratic downstream secondary aluminium consumption have market participants in Europe wondering how to manage risk through periods of volatility. Fastmarkets' assessment of the aluminium pressure die-casting ingot DIN226/A380, delivered Europe was at ?,?2,010-2,040 ($2,391.04-2,426.72) per tonne Friday March 19, down from ?,?2,040-2,090 per tonne the week before....Read More
Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange, as well as spot precious metals prices, were mainly weaker this morning, Tuesday March 23, as were broader markets.* Markets looking more nervous after concerted Western government sanctions on China have raised geopolitical tension.* Europe braces for further Covid-19 lockdownsBase metalsLME three-month base m...Read More
Texas Instruments (TXN), an S&P 100 stock moved above $181.80 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday March 23rdU.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Crude oil dropped $2.45 to US$59.11 per barrel in pre-opening trade. Energy stocks are expected to respond in early t...Read More
Here are five Fastmarkets stories you might have missed on Friday March 19 that are worth another look.Import activity in the South American flat-rolled steel market was nearly at a halt in the week ended on March 19 due to growing uncertainty about the existing Chinese steel export tax rebate.Read More
Here are five Fastmarkets stories you might have missed on Friday March 19 that are worth another look.Import activity in the South American flat-rolled steel market was nearly at a halt in the week ended on March 19 due to growing uncertainty about the existing Chinese steel export tax rebate.Read More
Here are five Fastmarkets stories you might have missed on Friday March 19 that are worth another look.Import activity in the South American flat-rolled steel market was nearly at a halt in the week ended on March 19 due to growing uncertainty about the existing Chinese steel export tax rebate.Read More
Here are five Fastmarkets stories you might have missed on Friday March 19 that are worth another look.Import activity in the South American flat-rolled steel market was nearly at a halt in the week ended on March 19 due to growing uncertainty about the existing Chinese steel export tax rebate.Read More