The seaborne premium hard coking coal fob index jumped on Tuesday November 24 due to latest transactions sealed at higher prices while the premium hard coking coal cfr price also increased after Chinese steel mills had to pay a premium for high-quality hard coking coal from countries other than Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.67 per tonne, up $9.45 per tonnePr...Read More
Bans on the export of ferrous scrap by various key suppliers of material to India and Pakistan have restricted import flows at the same time that demand has been returning to these markets, pushing prices higher, Fastmarkets has learnt.Demand for imports of steel scrap fell sharply when India went into its strict lockdown during March in response to the Covid-19 pandemic. Trading effectively...Read More
China's hot-rolled coil prices were largely stable on Tuesday November 24, though trading activity weakened amid colder weather.DomesticEastern China (Shanghai): 4,120-4,140 yuan ($627-630) per tonne, unchangedSeveral Shanghai-based traders said thin trading during the day, with some buyers expecting prices to fall due to the onset of winter.One of the traders said trading activity in northern Chi...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...Read More
The cobalt alloy 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 on the London Metal Exchange were firmer across the board this morning, Tuesday November 24, although those on the Shanghai Futures Exchange were mixed following the weakness seen on the LME on Monday. US president-elect Joe Biden plans to nominate former Federal Reserve chair Janet Yellen to become Treasury Secretary......the market seems to see Yellen as a safe pair of handsCoppe...Read More
An overview of the chrome ore and alloy markets and their latest price moves.China Prices for UG2 chrome ore fell more slowly, amid limited trading activity. The spot ferro-chrome price remained steady with sentiment buoyed by power restrictions in Inner Mongolia, the major production region for high-carbon ferro-chrome. Falling stainless steel prices also weighed...Read More
China produced 21.97 million tonnes of crude stainless steel in the first nine months of 2020, according to data released by the China Stainless Steel Council (CSSC) on November 13.This is a 516,200 tonnes (2.3%) drop compared with the output over the same period of last year, the CSSC said.China's apparent stainless steel...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday November 25, as were those on the Shanghai Futures Exchange, but overall they seem to be consolidating in high ground, with copper having set a fresh high for the year at $7,360 per tonne earlier this morning.* US president-elect Joe Biden’s transition to the White House has boosted global confidence...* ...thi...Read More
Canadian forest product stocks continue moving higher. West Fraser Timber moved above $75.06 extending an intermediate uptrend.Pre-opening Comments for Wednesday November 25thU.S. equity index futures were mixed this morning. S&P 500 futures were down 2 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. October Durable Goods Or...Read More
Here are five Fastmarkets stories you might have missed on Monday November 23 that are worth another look.European steel association Eurofer has filed a request to the European Commission to extend safeguard measures beyond their original expiration date of June 30, 2021, Yuriy Rudyuk, partner at Brussels-based law firm Van...Read More
The London Metal Exchange base metals complex had a small collective dip at the close of trading on Monday November 23, correcting after most base metals had gone to multi-year or year-to-date highs in the preceding week.Sentiment was cautious at the end of Friday with the three-month prices of metals such as copper, lead and nickel rallying and up by about 2%, but with market participants worried...Read More
Copper production could resume at Lundin's Candelaria copper mine in Chile after the company agreed a new collective bargaining agreement with a portion of striking workers there, Fastmarkets understands.Lundin reached a deal with around 550 workers from the AOS Union who had been striking over payment while workers...Read More
Lundin Mining has agreed a 30-month collective labor agreement with around 550 workers at its Candelaria copper unit in northern Chile, partially ending a month-long walkout at the site.On Friday November 20, the Canada-headquartered miner said the Candelaria AOS Union in Chile had accepted the company's latest offer, which was presented to the union on November 12.The miner still n...Read More
The European ferro-silicon market has risen over the past week to a range not seen for more than six months, sources told Fastmarkets on Monday November 23.And with tight domestic availability and no likelihood of any significant volume of imported material for some time to come, there was expectation in the market of further price increases in the coming weeks.Underscoring market sentiment for an...Read More
Copper production could resume at Lundin's Candelaria copper mine in Chile after the company agreed a new collective bargaining agreement with a portion of striking workers there, Fastmarkets understands.Lundin reached a deal with around 550 workers from the AOS Union who had been striking over payment while workers...Read More
Here are five Fastmarkets stories you might have missed on Monday November 23 that are worth another look.European steel association Eurofer has filed a request to the European Commission to extend safeguard measures beyond their original expiration date of June 30, 2021, Yuriy Rudyuk, partner at Brussels-based law firm Van...Read More
Commodities trader Trafigura and local government body Entreprise G?(C)n?(C)rale du Cobalt (EGC) have penned an offtake agreement specifically for the supply of artisanal cobalt in a deal designed to concurrently formalize the sector. This could make artisanally mined cobalt in the Democratic Republic of Congo (DRC) a more attractive prospect to multinational companies that demand greater supply c...Read More
Turkish domestic scrap prices have continued to increase over the past week in line with the rise in imported scrap values, sources said on Monday November 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,250-2,545 lira ($293-332) per tonne on Monday, up from the 2,230-2,455 lira per tonne of last week.The movement came after steel mills...Read More
Turkish steel mills continued to book deep-sea scrap cargoes at the beginning week at slightly higher prices, sources said on Monday November 23.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) 10,000 tonnes of shredded and 5,000 tonnes of bonus, at an average price of $332.50 per tonne cfr.This fresh transaction, led to another slight...Read More