Prices for steel hollow sections in Europe were unchanged week-on-week on Wednesday March 17 despite mills taking on higher feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was unchanged at ?,?860-890 ($1,025-1,061) per tonne on Wednesday.The corresponding assessment for steel sections (medium), domestic, deli...Read More
Turkish deep-sea scrap import prices have been weakening recently because of strong supplies, with steelmakers also staying away from the market due to limited steel sales, sources said on Wednesday March 17.The most recent deep-sea bookings occurred at the end of the last week, when two Baltic Sea cargoes were sold at $435-437 per tonne cfr on HMS 1&2 (80:20) basis.Since then, steel mills in Turk...Read More
Japanese steel scrap exporters are facing acute problems in sourcing vessels in which to make shipments, leading to an oversupply of scrap at exporters' yards which in turn is driving down prices, market sources told Fastmarkets on Wednesday March 17.Rising freight rates have been inflating cfr-basis scrap and steel prices across Asia in recent weeks but the situation in Japan is now so severe tha...Read More
ArcelorMittal has launched three new initiatives that will help it meet its net zero commitment, including a $100 million per year investment fund to develop technology that will support and accelerate the transition to net zero carbon steelmaking, the company said on Wednesday March 17. Innovation fund The company aims to deliver on its net zero commitment by 2050 and the $100 million per year "X...Read More
Iron ore prices were slightly weaker on Wednesday March 17 amid limited trading activity, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.19 per tonne, down $0.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.27 per tonne, down $0.13 per tonne58% Fe fines high-grade premium, cfr Qingdao: $151.99 per tonne, down $0.73 per tonne65% Fe Brazil-origin fines,...Read More
The seaborne premium hard coking coal price in the fob market inched down on Wednesday March 17 with most market participants adopting a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.43 per tonne, down $0.67 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, unchangedHard coking coal, fob DBCT: $105.20 per tonne, down $2.95 per ton...Read More
The continuing price downtrend in Asia is still keeping Chinese buyers away from the spot market, many of whom have not been actively seeking imported cargoes this week, sources said on March 17.Bids from buyers remained at $480 per tonne cfr China for HRS101 heavy scrap materials while offers were at $490 per tonne cfr China. Key market participants estimated prices were at $480-485 per tonne cfr...Read More
China's hot-rolled coil prices dipped again on Wednesday March 17, though trading activity picked up on falling inventory levels. Mills channeled more of their products to the export market to ensure they could fulfill orders ahead of a possible export tax rebate cut.DomesticEastern China (Shanghai): 4,940-4,960 yuan ($760-763) per tonne, down 10 yuan per tonneHRC sellers in Shanghai's spot market...Read More
Treatment charges (TCs) for zinc concentrates fell to near two-year lows on Friday March 12, while top quality raw material parcels continued attracting ever-sharpening terms in the spot market, sources said.Fastmarkets assessed the zinc spot concentrate TC, cif China at $65-75 per tonne on Friday, down by 9.68% from $70-85 per tonne on February 26 and at its lowest level since July 2018. The zinc...Read More
Base metals prices on the London Metal Exchange were mainly firmer on Wednesday March 17, while on the Shanghai Futures Exchange they were weaker across the board. Broader markets were treading water ahead of this evening's US Federal Open Market Committee (FOMC) announcements and press conference. United States 10-year treasuries yields have firmed again to 1.63% EU passenger car registrations ar...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila...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 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 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...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...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...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 17. Key drivers Ferro-titanium suppliers are starting to enter negotiations with steelmakers for second-quarter delivery settlements. No prices have yet been discussed, only early stages of potential tonnages, trade sources say.Ferro-titanium producers are holding off on securing new deals for their intake of scrap and other...Read More
The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.From the start of February until March 15, Fastmarkets heard of 23 sales of billet produced by blast furnace (BF) mills sold to buyers in China and Southeast Asia combined.Some 16 of these were heard to have...Read More
The FOMC maintained its Fed Fund rate at 0.00-0.25% and projected no rate hike through 2023. Responses included the following:U.S. equity indices moved higherLong term bond prices initially moved lower, but closed unchangedThe U.S. Dollar and its related ETN moved lowerGold prices moved higherTechnical Notes for Wednesday March 17thPalladium ETN (PALL) moved above $236.33 resuming an intermediate...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More