Seaborne pulverized coal injection (PCI) prices in the fob and cfr markets diverged on Tuesday February 2 amid differing market sentiments in a quiet day for trading. Fastmarkets indices Premium hard coking coal, fob DBCT: $156.79 per tonne, up $0.25 per tonne Premium hard coking coal, cfr Jingtang: $217.73 per tonne, unchanged Hard coking coal, fob DBCT: $133.07 per tonne, unchanged Hard coking c...Read More
A scheme in India to retire and tax older vehicles will increase the supply of scrap to its domestic market, if its implementation goes ahead after years of false starts, market sources told Fastmarkets.On January 25, the Union Minister for Road Transport and Highways, Nitin Gadkari, approved a proposal for a green tax on older vehicles and the scrapping of some vehicles, a government document sho...Read More
Exports of steel scrap from Japan soared by 22.7% year on year to 9.39 million tonnes in 2020, according to the East Asian country's customs department.The total is the highest recorded since 2010 - Japan exported 9.40 million tonnes of scrap in 2009.Japanese scrap exports were buoyed by growing demand in developing steelmaking nations such as Vietnam and Bangladesh last year, coupled with a sharp...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 2 that are worth another look.Steelmaker ArcelorMittal is planning to restart blast furnace (BF) B at its Ghent plant in Belgium by the middle of February this year, the company told Fastmarkets on February 2.Aluminium...Read More
Glencore International has won a public tender to supply South Korea's Public Procurement Service (PPS) with 1,500 tonnes of London Metal Exchange-registered brands of aluminium ingot.The tender was awarded at a premium of $122 per tonne, cif Incheon port, according to a notice published by the state agency on Tuesday February 2.The premium will be paid on top of the aluminium cash LME Daily Offic...Read More
The London Metal Exchange three-month tin price reached a new 2021 high and was the sole metal to make gains in morning trading on Tuesday February 2, while the rest of the base metals were constrained by a bullish US dollar index following "productive" Covid-19 stimulus plan discussions in the United States. Tin's forward price reached $23,330 per tonne shortly after 9am, a new year-to-date high...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed, albeit with a downside bias, during morning trading on Tuesday February 2, while silver was consolidating below highs but above its recent trading range.Silver prices spiked up to around the $30-per-oz level on Monday, before ending the day around $28.50 per oz - the metal is now looking for direction. S...Read More
A return of buying activity in the selenium market and larger traded volumes since the start of 2021 have renewed price optimism among some market participants. Fastmarkets assessed the price of selenium, 99.5% Se min, in-whs Rotterdam at $6-7 per lb on Friday January 29, stable from the midweek assessment but up by 8.3% from $5.50-6.50 per lb a month ago amid improved liquidity. The majority...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 20.00-21.55 on Tuesday February 02, 2021.Bid a...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, $/lb at 20.00-21.00 on Tuesday...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.We spoke in our previous tracker of stainless steel prices ending 2020 on a high. That trend has continued during early 2021 and, in fact, the upward rally in prices has increased its momentum.Compared with the monthly price increase of some 5% seen at the end of 2020, prices for grade-304 stainless steel in al...Read More
Market participants in the aluminium industry are calling for more transparency in low-carbon aluminium pricing, following recent global initiatives to lower carbon emissions that have created greater demand for such products. One point of discussion has been whether low-carbon aluminium can fetch an additional premium for its 'green' status or whether there is zero difference at this moment in ti...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly weaker this morning, Wednesday February 3, with zinc prices bucking the trend.Silver’s rally turn into a spike on Tuesday and stronger pre-market major western equity index futures this morning suggest equity markets are turning more risk-on again.* While three-month tin prices on the LME were off t...Read More
Check Point (CHKP), a NASDAQ 100 stock moved below $125.32 completing a double top pattern. Pre-opening Comments for Wednesday February 3rdU.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade. Index futures moved slightly higher following release of the January ADP Non-farm Employment report at 8:15 AM EST. Consensus was an increase of...Read More
Here are five Fastmarkets stories you might have missed on Monday February 1 that are worth another look.Chinese nickel sulfate prices have made steady gains since the start of 2021, rising again last week to set the highest level since Fastmarkets began tracking the market in July 2018.More than 67,000 lots of the Singapore Exchange's 65% Fe iron ore swaps...Read More
The price of tin on the London Metal Exchange closed above $23,000 per tonne on Monday February 1, while aluminium's forward price was under the most pressure from the rising US Dollar Index, dropping by more than 1% from last week's closing prices.Tin's three-month price rose by 1.4% to $23,103 per tonne from Friday's 5pm closing price of $22,779 per tonne, ending the day above the $23,000 per to...Read More
Fastmarkets proposes to amend the frequency of the publication of its copper cathode premium cif Rotterdam. Rotterdam continues to be a major location for copper cathode imports into Europe, but premiums for that business rarely change between a typical range, historically between $35 per tonne and $55 per tonne over London Metal Exchange prices. As such, Fastmarkets is proposing to amend the freq...Read More
The latest data for the global manganese ore market for the week ended February 1, 2021.Read More
South African manganese miner UMK has declared force majeure on some shipments after heavy rain caused similar declarations by logistics suppliers, the company confirmed on Monday February 1.South African state transport provider Transnet declared force majeure on Friday, Fastmarkets understands."Please note that in response to force majeure...Read More
Metals analyst Vivienne Lloyd has joined Trafigura where she will focus on the zinc and lead markets, Fastmarkets understands.Lloyd joins after several years at Australian bank Macquarie in London where she covered base and...Read More