The export price for steel slab from the Commonwealth of Independent States (CIS) surged during the week to Monday December 7 on new sales and a strong hot-rolled coil market, sources said.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS was $570-580 per tonne on December 7, up by $45 per tonnefrom $525-535 per tonne a week earlier.CIS suppliers increased s...Read More
The price of steel billet from the Commonwealth of Independent States (CIS) exported via the Black Sea increased sharply this week on a deal heard to Peru, with offers rising amid a shortage of supply, Fastmarkets heard on Tuesday December 8.The booking to Peru was heard at $520 per tonne fob Black Sea and was understood to have been concluded on December 7 for a volume of 10,000 tonnes, although...Read More
Steel billet and rebar prices in the United Arab Emirates increased this week while demand was strong, sources said on Tuesday December 8.Domestic rebarThe country's steel producers were offering rebar at 1,985 dirhams ($540) per tonne ex-works for orders to be produced in December before closing their order books and should announce new prices soon, sources said.Market participants in the UA...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia have gone up over the past week because of globally strong demand, sources said on December 8.The UAE was on national holidays on December 1-3, so buyers had only recently returned to the market.But demand within the country was moderate because recent price increases had been too sharp for buyers to accept, and they wante...Read More
The export market for long steel products from the Commonwealth of Independent States (CIS) went up again during the week to Monday December 7 amid strong billet prices and higher offers, sources told Fastmarkets.Thus, Fastmarkets' weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS was $600-620 per tonne on Monday, up by $20 per tonne from $580-600 per...Read More
The Turkish steel producers largely slowed down their deep-sea booking activity after the latest spike in the prices, sources said on Tuesday December 8.A steel mill in the Marmara region was heard booking a Baltic Sea cargo at $370 per tonne cfr for 14,000 tonnes of HMS 1&2 (80:20).But the supplier was not a traditional one and several market participants believed that the cargo would not be repr...Read More
There is no short-term fix for the container shortage that has sent freight cost to record highs, nor is there a need for regulatory authorities to put a lid on freight rates, Lars Jensen, chief executive officer of SeaIntelligence Consulting, said in an interview with Fastmarkets. "We are now seeing the consequences of carrier cancellations several months ago that led to a shortage of empty conta...Read More
Iron ore prices increased on Tuesday December 8 on support from bullish swaps prices, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $148.35 per tonne, up $1.42 per tonne62% Fe low-alumina fines, cfr Qingdao: $148.17 per tonne, up $1.17 per tonne58% Fe fines high-grade premium, cfr Qingdao: $135.01 per tonne, up $0.90 per tonne65% Fe Brazil-origin fines, cfr Qing...Read More
Seaborne coking coal prices across the board were flat day on day on Tuesday December 8 due to a lack of transactions, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.08 per tonne, up $0.01 per tonnePremium hard coking coal, cfr Jingtang: $169.52 per tonne, unchangedHard coking coal, fob DBCT: $92.68 per tonne, unchangedHard coking coal, cfr Jingtang: $154.11 per tonne, un...Read More
The base metals remain upbeat this morning, Tuesday December 8, and the underlying story remains the same, infrastructure spending, economic recovery, a mass of liquidity and the potential for more US stimulus.Although there are some potential headwinds - political tensions between the United States and China, a no-deal Brexit and a correction in equity prices as harder lockdowns are forced on pop...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.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...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds – political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat.* China’s consu...Read More
Fastenal (FAST), a NASDAQ 100 stock moved above $49.18 to an all-time high extending an intermediate uptrend. TSX Energy iShares (XEG) moved above $6.10 resuming an intermediate uptrend. Pre-opening Comments for Wednesday December 9thU.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US7...Read More
Here are five Fastmarkets stories you have missed on Monday December 7 that are worth another look.Brazilian exports of ferrous scrap plummeted in November 2020 with the country's industry focused on the domestic market, although Bangladesh remained the principal destination for the shipments that were made, data from...Read More
Lead and zinc prices posted the biggest gains by the 5pm close on the London Metal Exchange on Monday December 7, with the rest of the complex remaining largely flat but at high levels. Lead's three-month price closed at $2,076 per tonne, a 2.4% increase on Friday's closing price of $2,027.50 per tonne.Its sister metal, zinc, also experienced a rise of 1% to close the day's trading at $2,786.50 pe...Read More
Market participants are split on whether rising aluminium premiums in Asia are bullish or bearish for premiums in Europe. Higher premiums in China make it more lucrative to focus on that region rather than on Europe, the majority of participants told Fastmarkets throughout last week. This is propelling the Rotterdam premium higher by driving tonnages away from this market. Fastmarkets assessed the...Read More
The latest data for the global manganese ore market for the week ended December 7, 2020.This article was updated...Read More
Buyers of MMG's Las Bambas copper concentrates have been informed of possible delays due to a blockade of transport routes by local protesters, Fastmarkets understands. The Australian-Chinese miner did not declare force majuere as of Monday December 7, sources said. Vehicles carrying personnel, copper output, equipment and supply of Las Bambas have been blocked by protesters, comprising...Read More
Copper concentrate treatment and refining charges rose at the beginning of December with the market becoming quieter during the annual benchmark negotiation period.The progress in TC/RC negotiations has been slow in the week ended Friday December 4, with a considerable gap between the aspirations of major miners and smelters, sources familiar with the matter said.In the spot market, Fastmarkets' c...Read More