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
Key data from Fastmarkets' pricing session in China on Wednesday December 23. Key driversDomestic antimony ingot suppliers raised offer prices significantly in response to mounting buying interest.The lingering difficulty in sourcing ore from overseas market continues to lend solid support to domestic antimony prices because suppliers have become more cautious about selling cargoes on hand wi...Read More
The price paid both for low-carbon and high-carbon ferro-chrome have strengthened amid persistent worries about soaring international freight costs.Despite mixed fortunes in end-user demand such as aerospace and automotive, these concerns have resulted in firmer demand for material from consumers wanting to avoid a shortage of feedstock Low carbon ferro-chrome delivered in Europe was stable at the...Read More
Both spot and futures silico-manganese prices in China have risen significantly over the past month, helped by comparatively limited availability of spot cargoes at Chinese smelters' warehouses and steady demand from steel mills, market sources told Fastmarkets.Fastmarkets' weekly price assessment of silico-manganese 65% Mn min, max 17% Si, in-whs China was 6,100-6,200 yuan ($932-947) per tonne on...Read More
World crude steel production increased by 6.6% year on year in November, with China, Germany and Ukraine posting the largest increases.A total of 158.3 million tonnes of crude steel was produced in November by the 64 countries that report their statistics to the World Steel Association (Worldsteel), compared with 147.8 million tonnes in the same month in 2019.China, the world's biggest steelmaking...Read More
China will remove its 2% import tax rate on ferrous scrap and will revive its most-favored-nation (MFN) duty rate system from January 1, according to a notice released by its Ministry of Finance on Wednesday December 23.This will end the policy of restriction on solid waste imports that has been in place since July 1.Steel scrap listed under the HS codes 72042100...Read More
Domestic transaction prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 23 due to a shortage of material in the market, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?665.00 ($811.65) per tonne on Wednesday December 23, unchanged day on day.The index was, however, up by ?,?19...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters.Markets seems to b...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 6 points in pre-opening trade.The British Pound moved higher on news that the United Kingdom and Europe are set to announce a Brexit trade deal.Alibaba dropped $8.76 to $247.42 after the Chinese government launched an anti-trust probe on the company. On the charts, the stock moved below $252.55 completing a modified He...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 22 that are worth another look.Russia is set to impose early next year a temporary increase to its export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw...Read More
Chilean copper producer Codelco signed a new 36-month labor agreement with supervisors and overall management at its Chuquicamata division, the company said on Tuesday December 22.The parties agreed to no pay raises and a 3.6 million Chilean pesos ($4,944) bonus, according to the miner. The new contract will go into effect on April 1, 2021.This followed a series of labor deals signed with no salar...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 22.Please click on the thumbnail...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 22 that are worth another look.Russia is set to impose early next year a temporary increase to its export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw...Read More
Chilean copper producer Codelco signed a new 36-month labor agreement with supervisors and overall management at its Chuquicamata division, the company said on Tuesday December 22.The parties agreed to no pay raises and a 3.6 million Chilean pesos ($4,944) bonus, according to the miner. The new contract will go into effect on April 1, 2021.This followed a series of labor deals signed with no salar...Read More
Shipping problems faced by commodity market participants are likely to get worse ahead of Chinese New Year on February 12, 2021, sources told Fastmarkets.Freight rates for both bulk vessels and containers have soared to record highs in recent months amid a perfect storm of higher global shipping demand and rising crude oil costs.Those involved in the container trade have been particularly hurt, fa...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 22 that are worth another look.Russia is set to impose early next year a temporary increase to its export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw...Read More
Shipping problems faced by commodity market participants are likely to get worse ahead of Chinese New Year on February 12, 2021, sources told Fastmarkets.Freight rates for both bulk vessels and containers have soared to record highs in recent months amid a perfect storm of higher global shipping demand and rising crude oil costs.Those involved in the container trade have been particularly hurt, fa...Read More
The Turkish deep-sea scrap import market continued its upward trend with news of a fresh cargo from the Baltic Sea region, sources said on Tuesday December 22.Late on Monday, a steel mill in northern Turkey booked the cargo, comprising 12,000 tonnes of HMS 1&2 (80:20), 6,000 tonnes of plate & structural scrap (P&S) and 5,000 tonnes of a mixture of busheling and oxy plates at an average price...Read More
Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin. Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase th...Read More
Atlas Mining's Carmen mining pit collapsed on Monday December 21 after heavy rainfall in recent months was exacerbated by a typhoon that earlier hit the Philippines' Toledo City, the company said. Carmen Copper Corp (CCC), operator of the mine, confirmed that at around 4.15 pm local time on Monday a landslide occurred at the Carmen Pit, CCC's mine operations site. "The incident was traceable to th...Read More