Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More
Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More
A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) for the fourth quarter and full-year 2020, as stated in its earnings report published on Monday February 22.In brief Power shortages and the stoppage of the No2 blast furnace at the Presidente Vargas mill (UPV) until mid-November drove slab output down during the fourth quarter. Sl...Read More
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More
Iron ore prices went into reverse on Tuesday February 23 amid a correction after the surge on Monday, sources told Fastmarkets, but robust demand means prices should not fall much further.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.05 per tonne, down $2.91 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.52 per tonne, down $2.46 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets fluctuated on Tuesday February 23, while most market participants, uncertain where prices will go, adopted a wait-and-see attitude, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.78 per tonne, up $1.73 per tonnePremium hard coking coal, cfr Jingtang: $220.28 per tonne, down $3.11 per tonne Hard cokin...Read More
Major steel producer and importer China is more interested in importing steel billet compared with ferrous scrap this week, market sources told Fastmarkets on February 23."Many Chinese buyers are in the market bidding for steel billet rather than ferrous scrap, especially with lingering concerns over whether the next few cargoes scheduled to discharge in Chinese ports can clear customs checks," a...Read More
China's domestic rebar prices softened on Tuesday February 23 amid falling futures, weak demand and destocking pressure. DomesticEastern China (Shanghai): 4,600-4,620 yuan ($712-715) per tonne, narrowed downward by 20 per tonne Buyers submitted lower bids for rebar during the day and only bought from sellers who were under pressure to sell due to high stock levels.An industry analyst noted that ma...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates. There are cross currents flowing through the market; sentiment is strong while people look forward to a super-charged economic recovery once vaccines allow a return to a more normal...Read More
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 data February 16, 2021, 20 tonnes (5 tonnes July, 5 tonnes August, 5 tonnes September, all at $23.10 per lb; a further 5 tonnes for August at $24 per lb) February 10, 2021, 30 tonnes (5 tonnes each for July to Dec...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...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...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday February 24, with tin on the LME and the SHFE April copper contract in positive territory, while the rest were weaker.* US Federal Reserve Chairman Jerome Powell told Congress that rates would stay low and the central bank would maintain strong support for the economy* Asian-Pacific equ...Read More
Amgen (AMGM), a NASDAQ 100 stock moved below $229.68 setting an intermediate downtrend.Raytheon Technologies (RTX), an S&P 100 stock moved above $75.32 extending an intermediate uptrend.Verisk Analytics (VRSN), a NASDAQ 100 stock moved below $182.52 and $174.57 setting an intermediate downtrend.Pre-opening Comments for Wednesday February 24thU.S. equity index futures were higher this morning....Read More
Here are five Fastmarkets stories you might have missed on Monday February 22 that are worth another look.China allowed five cargoes of Australian coking coal to be unloaded last week after a wait of several months, industry sources told Fastmarkets on February 22.The year...Read More
The year 2021 will be a turning point for network readiness and availability of 5G telecommunications after delays last year resulting from the Covid-19 pandemic, sources have told Fastmarkets.More 5G smartphones, wearables and other consumer electronics have reached the mainstream market, while the increase in remote working practices that has resulted from lockdown measures continues to undersco...Read More
The prices of both copper and tin showed gains at the close of trading on Monday February 22, but signs of fatigue have started to emerge for the bulls in charge of nickel, which was down by 0.5% on a day when the entire London Metal Exchange base-metals complex set new multi-year highs.Copper closed up by 2.1%, at $9,097 per tonne, compared with Friday's 5pm price of $8,909.50 per tonne, while ti...Read More
Here are five Fastmarkets stories you might have missed on Monday February 22 that are worth another look.China allowed five cargoes of Australian coking coal to be unloaded last week after a wait of several months, industry sources told Fastmarkets on February 22.The year...Read More
Manganese ore prices edged higher on Friday February 19 due to soaring freight rates and a stronger rand pushing up production costs.Manganese ore prices edged higher on Friday February 19 due to soaring freight rates and a stronger South African rand pushing up production costs, while stronger manganese alloy futures supported downstream sentiment. Fastmarkets' manganese ore index 37% Mn, cif Tia...Read More
Here are five Fastmarkets stories you might have missed on Monday February 22 that are worth another look.China allowed five cargoes of Australian coking coal to be unloaded last week after a wait of several months, industry sources told Fastmarkets on February 22.The year...Read More