Turkish steel producers were mostly quiet on the second working day of the week amid firm offers from Baltic Sea and US suppliers, market participants told Fastmarkets on Tuesday November 9.The most recent deep-sea trade was recorded at the end of the last week, when a steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 pe...Read More
Ukrainian scrap metal industry association Vtormet has said that a proposed increase in the export duty applied to ferrous scrap should not go ahead without public discussion, in a letter sent to Ukraine's economy ministry on Monday November 8.In an earlier letter to the association dated November 2, the ministry confirmed its intention to impose an increase in the export duty on ferrous scrap to...Read More
Seaborne coking coal cfr prices declined sharply on Tuesday, with a lower offer price emerging and previously stranded Australian coal becoming available to Chinese end users.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $562.62 per tonne, down by $26.32 per tonneHard coking coal, cfr Jingtang: $505.02 per tonne, down by $12.63 per tonnePremium hard coking coal, fob DBCT: $4...Read More
Denis Reuter, chief operating officer of major German recycler TSR, has been appointed as president of the Bureau of International Recycling's (BIR) ferrous division.Reuter succeeds outgoing president Gregory Schnitzer of Sims Metal Management, who had been appointed to the post in November 2018.In his capacity as division president, Reuter will become a member of the BIR executive committee and w...Read More
Seaborne iron ore prices fell on Tuesday November 9 amid weak demand for steel in northern China (due to the colder weather) and rising inventories at Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.30 per tonne, down $1.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.46 per tonne, down $1.09 per tonne58% Fe fines high-grade premium, cfr Qi...Read More
Buying interest for imported steel scrap into China has remained low despite lower-cost material from Japan emerging in the market, sources told Fastmarkets on Tuesday November 9. Demand from China for imported scrap mutedOffers from Japan decrease amid weaker market sentiment in AsiaTaiwanese buyers continue to bid lower for containerized scrapChinaThe spot market for steel scrap imported into Ch...Read More
Spot prices for hot-rolled coil in China extended their losses on Tuesday November 9, with ferrous prices falling across the board after a major coal supplier again lowered spot thermal coal prices.Domestic[Eastern China (Shanghai): 4,900-4,950 yuan ($766-774) per tonne, down by 10-50 yuan per tonne,The most-traded HRC contract on the Shanghai Futures Exchange edged lower in choppy trading on Tues...Read More
Domestic demand for rebar in China weakened further on Tuesday November 9, causing prices to narrow downward. Domestic Eastern China (Shanghai): 4,900-4,940 yuan ($766-773) per tonne, narrowing downward by 40 yuan per tonneMany traders lowered their rebar offers on losses in the futures market with the exception of a few, who maintained theirs.But both approaches failed to generate interest among...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday November 9, but those on the Shanghai Futures Exchange were mainly firmer while they followed the strength seen on the LME on Monday, when the complex closed up by an average of 1.2%.While some of China's data shows a struggling economy, recovery and infrastructure spending elsewhere bode well for metals demand.W...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...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,...Read More
Canada's First Cobalt Corp will expand its Ontario facilities to produce a range of precursor battery materials and to recycle lithium-ion batteries, it said.The Toronto-listed cobalt producer, which is North America's only cobalt refinery, also plans - subject to shareholder approval - to change its name to Electra Battery Materials to better reflect its new strategy, it also said. First Co...Read More
Brazil's automotive production dropped by 24.8% year on year in October amid a global microchip shortage and a stoppage of truckers in the Port of Santos, S??o Paulo.Light vehicle production totaled 177,900 units last month, compared with 236,500 units a year earlier.Anfavea, the national association of motor vehicle manufacturers, said that production was affected by suspensions among carmakers b...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Index futures moved lower following release of the October Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.4% in September. Actual was an increase of 0.9%. Excluding food and energy, consensus was an increase of 0.4% versus a gain of 0.2% in Sept...Read More
(Updates prices) By Eric Onstad LONDON, Nov 9 (Reuters) - Copper prices retreated on Tuesdayon concerns that a deepening debt crisis in China's propertysector will curb demand. Three-month copper on the London Metal Exchange(LME) slipped 0.9% to $9,556 a tonne by 1700 GMT, reversingdirection after a 1.3% gain on Monday. "China is the big unknown right now. The trade data was onthe positive si...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
Modest gains were seen in base metals futures prices at the 5pm close of trading on the London Metal Exchange on Monday November 8 because of a weaker US Dollar Index, which supported price increases.Aluminium led the gains, its price increasing by almost 2% to $2,605.00 per tonne, up from $2,556.50 per tonne at Friday's 5pm close. This rise followed a 5% decline in the three-month price for the l...Read More
The publication of Fastmarkets' monthly blister copper refining charge for October was delayed due to a reporter error. Fastmarkets' pricing database has since been updated with the following price, originally scheduled to be published on last working day of October. Fasstmarkets' price assessment for opper blister 98-99% RC spot, cif China was $150-170 per tonne on Friday October 29 and as u...Read More
Here are five Fastmarkets stories you might have missed on Monday November 8 that are worth another look.The United States is looking carefully at steel projects in Southeast Asia in which China has invested, after US trade representative Katherine Tai said that she supported updating US trade laws to combat the circumvention of...Read More
The manganese seaborne and portside ore markets diverged during the week to Friday November 5, with the higher-grade cif market strengthening on higher offers and fot prices weakening on the softer alloy market.Fastmarkets' manganese ore 44% Mn, cif Tianjin price index was calculated at $5.80 per dry metric tonne unit (dmtu) on Friday, an increase of 22 cents (+3.9%) from $5.58 per dmtu one week e...Read More