The fob seaborne premium hard coking coal prices drifted lower on Thursday February 11 amid thin demand during the Lunar New Year holiday period in Asia. Fastmarkets indices Premium hard coking coal, fob DBCT: $142.01 per tonne, down $3.51 per tonne Premium hard coking coal, cfr Jingtang: $217.23 per tonne, unchanged Hard coking coal, fob DBCT: $127.57 per tonne, down $2.50 per tonn...Read More
Iron ore prices were rangebound on Thursday February 11 due to limited market activity while China begins its week-long Chinese New Year holiday, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.88 per tonne, down $0.02 per tonne 62% Fe low-alumina fines, cfr Qingdao: $167.25 per tonne, unchanged 58% Fe fines high-grade premium, cfr Qingdao: $152.66 per tonne, up $0.64...Read More
Rebounding scrap prices in Asia have caused Taiwanese importers of containerized ferrous scrap to source material even with the start of the Lunar New Year holidays in the territory.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $370-375 per tonne on Thursday February 11, unchanged from a day earlier but u...Read More
Fastmarkets is proposing to reduce the frequency of its two low-volatility pulverized coal injection (PCI) indices to a weekly basis from a daily basis.This is due to the illiquid nature of the spot market, which has been further affected by China's ongoing ban on Australian coal.The specifications with proposed amendments in italics are as follows:MB-COA-0007 PCI low-vol, cfr Jingtang, $/dmtQuali...Read More
With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.The US Dollar Index remains on a back foot US 10-year treasury yields were weaker than they were at the start of the weakBase metalsThe three-month base metals...Read More
Fastmarkets rounds up the latest logistical issues affecting supplies of metal, ores and alloys from African countries, in the period ended Thursday February 11.February 4Fastmarkets reports that South32 has declared force majeure on some manganese shipments after rail lines to its Hotazel Manganese Mines consortium were suspended under state transportation provider Transnet's force majeure notice...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...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,...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 10. Key drivers There was renewed optimism after a long period of lackluster trading. Demand in India, a major spot market consumer of the metal, has risen over the past two weeks and some producers are reportedly sold out. There was strong interest in a tender from Russian...Read More
A summary of the financial results for Indian steelmaker Jindal Stainless up to December 31, 2020, representing the third quarter and first nine months of its 2020-21 business year.In brief Shipping costs for imported raw materials increased by 30-35% in July-December 2020 compared with the first-half of 2020. In October-December 2020, Jindal Stainless' share of domestic sales grew to 85% up...Read More
The Volkswagen Group is developing an air taxi that will allow passengers to skip land-based gridlock and avoid public transport amid the ongoing Covid-19 pandemic."We're developing a drone that's ready to be licensed. That opens the possibility for us to participate in the future market of individual mobility that takes place in the air and not down on the streets," Volkswagen Group China chief e...Read More
With Greater China on holiday, base metals trading on the London Metal Exchange has been quiet this morning, Friday February 12, with prices little changed and trading volumes light - but so far prices are holding up in high ground.The outlook for metals demand is strong, but it could be derailed by the global semiconductor shortage.Base metalsThree-month base metals prices on the LME were mixed t...Read More
American Express (AXP), a Dow Jones Industrial Average stock moved above $129.54 extending an intermediate uptrend. Next Tech Talk reportNext report is scheduled for release on Tuesday February 16th. Monday is Presidents' Day in the U.S. and a partial holiday in Canada.Pre-opening Comments for Friday February 12thU.S. equity index futures were lower this morning. S&P 500 futures were dow...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 10 that are worth another look.A shortage of containers to ship commodities around the world and the consequent soaring in associated freight rates have led to a revival of interest in breakbulk cargoes.China increased refined and...Read More
Tin premiums in Taiwan and the United States reached new heights in the week to Tuesday February 9, with growing global supply concerns prompting sharp inclines in bids and offers while sellers continue to take control. Chinese buying momentum hits TaiwanMyanmar production faces setbacksUS premium sets new highs amid material shortagesEuropean participants lament spot market difficultyTaiwan tin p...Read More
A shortage of containers to ship commodities around the world and the consequent soaring in associated freight rates have led to a revival of interest in breakbulk cargoes. Producers and physical traders of metals, agricultural, chemical and timber products have been starting to book shipments in breakbulk vessels, which cost far less and doesn't require vast amounts of equipment in port. On the m...Read More
The market for higher grades of high-carbon ferro-chrome in Europe rose strongly in the week ended Tuesday February 9 due to a shortage of available material while suppliers focused their attention on Asia.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe, rose by $0.03-0.07 per lb (1.8%) on Tuesday to $1.10-1.22 per lb Cr, from $...Read More
The import market for charge chrome in China rose on Tuesday February 9, with tight supply continuing to strengthen sentiment despite the damping effect of the approaching Lunar New Year holiday, February 11-17, on activity in the chrome market.Fastmarkets' price assessment for ferro-chrome, 50% Cr, import, cif main Chinese ports, rose by $0.04 per lb (3.8%) to $1.10 per lb contained Cr on Tuesday...Read More
Fastmarkets will publish its first low-carbon aluminium differentials on Friday March 5, one for primary aluminium (P1020A) and one for aluminium value-added products (VAP). The new pricing mechanisms will bring transparency to the growing industry for low-carbon aluminium products as the market tries to meet increased demand for a sustainable supply chain. The below infographic highlights how the...Read More
Fastmarkets has corrected its price assessment for selenium 99.5% Se min, in-whs Rotterdam, which was published incorrectly on Wednesday February 10 due to a reporter error.The price assessment for selenium, 99.5% Se min, in-whs Rotterdam, $ per lb, should have been $6-8 per lb, rather than the $6.30-7.80 per lb published.https://www.metalbulletin.com/My-price-book.html?price=34257This occurred af...Read More