Zambia-based blister copper producer Chambishi Copper Smelter (CCS) has agreed to supply the intermediate copper product to China's Jiangxi Copper at $145 per tonne cif China for 2021, Fastmarkets learned on Tuesday January 12. Last year, the contract between CCS and Jiangxi Copper - the biggest Chinese importer of blister copper - was settled at $128 per tonne cif China. The...Read More
Hot-rolled coil prices in the United States extended their new year's rally, establishing a new 12 1/2-year high and derailing the prior idea that the first quarter will deliver pricing and volume relief to America's steel-consuming industries. Fastmarkets' daily steel hot-rolled coil index was calculated at $55.72 per hundredweight ($1,114.40 per short ton) on Tuesday January 12, an increase of 2...Read More
Exporters of steel billet from the Commonwealth of Independent States (CIS) are facing stiff resistance from buyers reluctant accept their higher offer prices, sources told Fastmarkets on Tuesday January 12.Official offers for March shipment billet have been reported as high as $625 per tonne fob Black Sea.But bids from Turkey, a key export outlet for CIS billet, have been hear...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia went up over the past week with higher offers and bids, market sources said on Tuesday January 12.Buyers believed that offer prices were too high and asked for discounts, but sellers did not accept the lower bids. As a result, no deals were heard."Bookings are very slow in the UAE due to the heavy increase in prices," one...Read More
Steel rebar and billet prices in the United Arab Emirates rose again in the week to Tuesday January 12 because of higher offers and market indications, but most rebar producers are yet to announce new prices for February production, sources said. Demand for billet and rebar from end users was moderate to strong during the week, sources added. Domestic rebar Steel producers sold rebar at 2,259-2,29...Read More
Export prices for steel slab from the Commonwealth of Independent States (CIS) increased again during the week to Monday January 11 on sustained demand and bullish suppliers.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS at $685-700 per tonne on January 11, up from $675-680 per tonne a week...Read More
There was little activity in the export market for long steel products from the Commonwealth of Independent States in the week to Monday January 11 because suppliers are just starting to come back from public holidays. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $650-670 per tonne on Tuesday, flat week on week. Current offers for Russ...Read More
The flat steel export market from the Commonwealth of Independent States (CIS) was slow during the week to Monday January 11 because suppliers had just returned from holidays, although the general market mood was positive, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $785-790 per tonne on Monday, up from...Read More
Turkish steelmakers stepped back from the deep-sea scrap import market on Tuesday January 12, focusing instead on finished steel and billet sales, sources told Fastmarkets.After a number of steel scrap cargoes were booked at the end of the last week, the market has generally been quiet."Market is very quiet [so far this] week, but I still expect the mills to book more carg...Read More
Iron ore prices remained mostly stable on Tuesday January 12, supported by mills replenishing their stocks ahead of the Chinese New Year holiday in mid-February, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $172.67 per tonne, up $0.54 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.00 per tonne, up $0.75 per tonne58% Fe fines high-grade premium, cfr Q...Read More
Seaborne coking coal prices across the board remained relatively flat on Tuesday January 12 due to a lack of transactions while some steel mills in China accepted the proposed coke price increase, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.99 per tonne, up $0.06 per tonnePremium hard coking coal, cfr Jingtang: $208.19 per tonne, up $0.01 per tonneHard coking coal, fob...Read More
China's domestic rebar prices fell sharply on Tuesday January 12 on destocking pressure and falling futures.DomesticEastern China (Shanghai): 4,380-4,400 yuan ($676-679) per tonne, down by 100 yuan per tonneRebar futures fell during the night trading session on Monday, resulting in bearish sentiment in the spot market on Tuesday morning.Sellers cut prices to stimulate sales, but buyers withdrew fr...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...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
First Cobalt Corp has finalized long-term cobalt hydroxide feed deals with Glencore and trading company IXM, a subsidiary of mining company CMOC, as part of a plan by the Canada-based company to recommission and expand a currently idle cobalt refinery in the country.The agreements will see Glencore and IXM provide a total of 4,500 tonnes per year of contained cobalt to the First Cobalt refinery, s...Read More
Mining and metals producer Assmang has declared force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets this week.Assmang produces refined ferro-manganese at its Cato Ridge Alloys plant in the eastern province of KwaZulu-Natal and halted production last week. The force majeure declaration was made in the first week of 2021 after...Read More
After strong gains on the London Metal Exchange on Tuesday January 12, when prices closed up with gains averaging 1.8%, prices were for the most part little changed this morning, with nickel the main mover.Nickel prices have been moving higher while the market reacts to a mining ban on the island of Tumbagan in the Philippines and as supply in New Caledonia continues to be disrupted by protesters....Read More
Bausch Health (BHC), a TSX 60 stock moved above Cdn$30.52 extending an intermediate uptrend. Quarterly results beat consensus.Couche Tard (ATD.B), a TSX 60 stock moved below Cdn$40.32 on rumors that it has offered to purchase Carrefour. Canadian "gassy" stocks continue moving higher. Birchcliffe Energy moved above $2.17 extending an intermediate uptrend. Pre-opening Comments for Wednesday Ja...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday January 8.An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu."Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa's 90...Read More