Seaborne prices climbed on Monday January 4, supported by firm demand in steel and positive sentiment after the New Year holiday, according to sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $165.29 per tonne, up $4.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.00 per tonne, up $4.58 per tonne58% Fe fines high-grade premium, cfr Qingdao: $149.63 per tonne, unchanged 6...Read More
China's hot-rolled coil market resumed on Monday January 4 after a three-day New Year holiday with high prices and active trading.Domestic Eastern China (Shanghai): 4,540-4,580 yuan ($695-701) per tonne, up 10 yuan per tonne Sellers won deals at 4,540-4,560 yuan per tonne in morning trading, with some asking up to 4,580 yuan per tonne in the afternoon due to active trading, a Shanghai-based trad...Read More
The publication of Fastmarkets' weekly index for Rotterdam ferrous scrap export for Thursday December 24 was delayed because of a reporting error.Fastmarkets' price book and database have both since been updated.The affected price was steel scrap HMS 1&2...Read More
Except for the premium hard coking coal fob index, seaborne coking coal indices rose on Monday January 4 after new offer prices reached higher levels. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.49 per tonne, down $0.87 per tonne Premium hard coking coal, cfr Jingtang: $203.17 per tonne, up $3.11 per tonne Hard coking coal, fob DBCT: $94.31 per tonne, up $4.26 per tonne Hard cokin...Read More
China aims to diversify its iron ore supply sources and strengthen its bargaining power in purchasing, according to the country's Ministry of Industry & Information Technology (MIIT).Seeking feedback on a steel masterplan that will form part of the country's 14th Five-Year Plan, MIIT said in a document published on Thursday December 31, that one of its goals was to strengthen the iron ore res...Read More
Chinese steelmakers have wasted no time in booking ferrous scrap from abroad following a change in the country's import rules for the steelmaking raw material, with purchases of several cargoes from Japan agreed in the last few days.A notice released by the Chinese Ministry of Ecology & Environment late on December 31 formally confirmed the relaxation of steel scrap import regulations for material...Read More
China's domestic rebar prices increased on Monday January 4 on restocking demand after a three-day holiday for the New Year.DomesticEastern China (Shanghai): 4,510-4,530 yuan ($690-694) per tonne, up by 60 yuan per tonneTraders raised their procurement rates to replenish inventories that had fallen in the past three days.End-user demand also increased after a cold wave affecting the country in the...Read More
Prices for seaborne iron ore pellets inched up last week, though those for concentrate fell amid a downtrending futures market.Fastmarkets iron ore indices65% Fe blast furnace pellet, cfr Qingdao: $215.11 per tonne, up $1.25 per tonne.66% Fe concentrate, cfr Qingdao: $177.12 per tonne, down $6.86 per tonne.Key driversSources said that fundamentals for iron ore pellets remained unchanged, which pro...Read More
Key data from Fastmarkets' Monday January 4 pricing session in London.Key drivers Rumors that the Chinese government was stockpiling further quantities of metal, primarily China-origin cut cathodes, triggered a flurry of activity. Europe and the United States were still returning from seasonal holidays and, with the stockpiling news yet 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 Rotterdam, $/lb at 15.35-16.00 on Monday...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...Read More
UK-based conglomerate GFG Alliance has finalized the purchase of manganese alloy smelter Tasmanian Electro Metallurgical Co (Temco) in northern Tasmania, Australia, from Western Australia-based miner South32.The deal was subject to a binding sale and purchase agreement with South32 and Anglo American, made in August last year, and meant that Temco would join Liberty Steel Group as part of the GFG...Read More
The rapid and significant falls in manganese ore prices in 2019 and 2020 have created "frozen stocks," which are believed to have acted as a buffer for the ore market while also demonstrating some different characteristics over both years, sources told Fastmarkets.Fastmarkets' manganese ore index 37% Mn, cif Tianjin ended 2019 at $3.92 per dry metric tonne unit (dmtu), a decline of $2.19 per dmtu...Read More
Sustainable mining of lithium - a critical raw material in the manufacturing of lithium-ion batteries that also plays a pivotal role in vehicle electrification - has come under increased scrutiny over the past year amid an accelerated shift toward electric vehicles (EVs).This has prompted a raft of lithium incumbent and junior miners to disclose their environmental commitments over the course of 2...Read More
NetEase (NTES), a NASDAQ 100 stock moved above $98.18 resuming an intermediate uptrend. Rogers Communications (RCI), a TSX 60 stock moved above US $47.77 extending an intermediate uptrend. Pre-opening Comments for Tuesday January 5thU.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Investors are bracing for results from the two Geo...Read More
Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5.* Control of US Senate, with the run-off elections in Georgia, could be market-moving...* ...two democratic wins would strengthen President-elect Joe Biden’s hand a...Read More
The London Metal Exchange three-month nickel price had the biggest rise of 4.8% and tin crossed the $21,000 per tonne mark for the first time since April 2019 in an upbeat start to the year for the entire complex on Monday January 4, where all forward prices rose by more than 1%. Nickel's price closed on Monday at 5pm $17,404 per tonne after closing last year at $16,613 per tonne. Nickel's rising...Read More
Except for copper, base metals stocks in Shanghai Futures Exchange-registered warehouses all recorded falls in the week to Thursday December 31, with zinc down the most by 13%. The anomaly in stock copper levels was stark, surging by 15.3%, while the rest of the base metals' inventories declined.Copper inventories totaled 86,679 tonnes on Thursday December 31, up by 11,530 tonnes or 15.3% from a w...Read More
The London Metal Exchange nickel price led the way on morning trading on Monday January 4 with a 4.3% rise from its closing price of 2020, reflecting an upbeat start to the year where all metals' forward prices rose by more than 1%. The three-month nickel price was at $17,335 per tonne on Monday at 9am, from Thursday December 31's closing price of $16,613 per tonne. Copper's three-month price was...Read More
Here are five Fastmarkets stories you might have missed on Monday January 4 that are worth another look.News of Covid-19 vaccines being distributed and administered around the world has boosted sentiment in Asian economies, with steel markets in the region seemingly upbeat on prospects in 2021.Sustainable mining of lithium - a critical...Read More