Prices in the Commonwealth of Independent States' (CIS) export billet market dipped on Thursday January 21 amid a lack of demand and falling scrap costs, sources said.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $432.61 per tonne on Thursday down by $1.38 per tonne day on day andby $43.38 week on week.Fastmarkets' corresponding da...Read More
Turkish export prices for steel rebar and wire rod have gone down over the past week amid soft demand and falling scrap costs, market sources said on Thursday January 21.Turkish deep-sea scrap import prices continued to fall in the latest Baltic Sea transaction heard on January 20.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $439.18 per tonne on Wednesd...Read More
Brazil-based miner Vale and Japanese trading company Mitsui have signed a heads-of agreement to take the first step toward exiting their investment in the Moatize coal mine and the Nacala Logistics Corridor (NLC) in Mozambique, Vale said on Wednesday January 20.The heads-of agreement said that Vale would acquire Mitsui's 15% stake in the mine as well as 50% in equity and minority credits of the lo...Read More
More deep-sea bulk cargoes have been sold to Bangladesh from the United States, with prices easing following the sales, market participants told Fastmarkets on Thursday January 21. Three bulk cargoes from the US West Coast were booked in recent weeks within a range of $495-500 per tonne cfr for HMS 1&2 (80:20) to a major mill in the country, with sources saying the total quantity of the deals come...Read More
The Singapore Exchange's (SGX) 65% Fe iron ore derivatives contract - which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao - set a new record for traded volumes at 5.9 million tonnes so far in January, according to SGX published data on Thursday January 21. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.51 per tonne, up $0.96 per tonn...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets increased on Thursday January 21, after a new trade and an offer at higher prices, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.47 per tonne, up $2.22 per tonnePremium hard coking coal, cfr Jingtang: $211.82 per tonne, up $3.38 per tonneHard coking coal, fob DBCT: $107.78 per tonne, up $3 per tonne...Read More
Austrian steelmaking group Voestalpine has decided to relight the second blast furnace (BF) at its Donawitz site to meet growing demand for long steel, the company said on Thursday January 21.The Donawitz site has two BFs with a total capacity of 1.5 million tonnes per year of pig iron, however, for the past seven months only one of the furnaces was operational.One of the two BFs in Donawitz, with...Read More
The London Metal Exchange three-month tin price surpassed the $22,000 per tonne mark during early trading on Thursday January 21, while the complex as a whole moved up due to a weaker dollar, rising equity markets and bullish sentiment after Joe Biden's inauguration as the 46th US president on Wednesday.The semiconductor metal price rose to as high as $22,360 per tonne in the morning of Thursday....Read More
China's domestic rebar prices stopped decreasing on Thursday January 21 amid higher trading activity and a strengthening futures market.DomesticEastern China (Shanghai): 4,260-4,280 yuan ($659-662) per tonne, unchangedChina's commodity futures, including the rebar contract, rose during the day in response to gains in the United States stock market on Wednesday, the inauguration of US President Joe...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board this morning, Thursday January 21, showing dips and pauses are attracting further buying, with tin and nickel leading on the upside. US equity futures and many Asian-Pacific equity indices are setting record or multi-decade highs Base metals Three-month base metals prices on the LME were up by an...Read More
China's stainless steel prices moved up further in the past week on rising production costs.The three-month nickel contract on the London Metal Exchange ended Wednesday January 20's official trading session at $18,108 per tonne, up by $377 per tonne from $17,731 per tonne a week earlier.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,900-15,700 yuan ($2,303-2,427) per to...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
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
Privat Group's Zaporozhye plant in Ukraine has suffered a partial collapse in the roof of the building, damaging a meltshop at a time when manganese alloys markets are rallying to multi-year highs in Europe.The incident is being investigated to determine what caused the collapse in the roof of the building that fell onto the part of the melt shop that produced manganese alloys because the reason i...Read More
A summary of China's minor metals exports for December 2020.In brief China's exports of indium surged in December due to an uptick in restocking by overseas consumers who did not purchase much of the material in the preceding month. China's exports of silicon declined last month after many...Read More
Chinese exporters of silicon grade 5-5-3 continued to lower their offers last week amid scant interest from buyers abroad. Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,850-1,880 per tonne on Friday January 15, down by $50-70 (3.1%) from $1,900-1,950 per tonne a week earlier. The price had been assessed at $2,000-2,020 per tonne at the beginning of last mon...Read More
China's leading stainless steel producer, Taiyuan Iron & Steel (Tisco), has set its ferro-chrome tender price for February delivery at 8,000 yuan ($1,237) per tonne, the highest tender price issued by a major stainless steel mill since October 2017. The latest tender issued by the northern China-based mill is up by 2,200 yuan ($340) per tonne from 5,800 yuan per tonne offered for January. This mar...Read More
A drop in scrap bid prices from a major South Korean steelmaker led to a weakening in the Japan steel scrap export market in the week to Wednesday January 20, market participants told Fastmarkets. The South Korean mill released bids on Wednesday at ?39,500 ($381) per tonne fob for H2, ?44,000 per tonne fob for plate and structural (P&S), ?45,000 per tonne fob for Shindachi and ?44,000 per tonn...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part down on Friday January 22, after having been up across the board a day earlier, while markets generally seem to be taking a breather after the enthusiasm the US presidential inauguration brought.Republicans in US Congress are thought to be willing to work with President Joe Biden on his $1.9 trilli...Read More
Honeywell (HON), a Dow Jones Industrial Average stock moved below $204.85 completing a double top pattern. IBM ((IBM) moved below support at $121.72 after reporting lower than consensus fourth quarter revenues. Raytheon Technologies (RTX), an S&P 100 stock moved below $67.78 completing a double top pattern. Pre-opening Comments for Friday January 22ndU.S. equity index futures were lower this m...Read More