Turkish steel mills have remained out of the market for a third consecutive day this week although offer prices have now moved higher than in previous deals, sources told Fastmarkets on Wednesday November 18.Turkish steel mills extended their silence in the deep sea scrap market for a third day, but offer prices were reported to have jumped in anticipation of the next purchases....Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More
Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More
Seaborne premium hard coking coal fob and cfr prices diverged on Wednesday November 18 due to the ongoing restriction on Australian coking coal, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $98.87 per tonne, down $1.51 per tonnePremium hard coking coal, cfr Jingtang: $156.23 per tonne, up $1.90 per tonneHard coking coal, fob DBCT: $91.78 per tonne, down $3.72 per tonneHard c...Read More
China's domestic rebar prices lost upward momentum on Wednesday November 18, reflecting losses in futures ahead of the revision of regulations on the Shanghai Futures Exchange (SHFE) relating to limits on price fluctuations.DomesticEastern China (Shanghai): 4,130-4,160 yuan ($629-634) per tonne, unchangedThe SHFE will lower the fluctuation limit on its rebar contracts to 5% from 6% previously from...Read More
China's hot-rolled coil prices were largely stable on Wednesday November 18, having strengthened continually in the first two days of this week. Several producers are reported to be operating at close to capacity to capitalize on the bullish market.DomesticEastern China (Shanghai): 4,110-4,120 yuan ($626-627) per tonne, narrowed by 10 yuan on both endsSellers kept prices high despite a weakening o...Read More
The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday......but major western equity indices are weaker this morning, suggesting some concern about the...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers Prices rallied in Europe for the second consecutive week, with consumers and traders needing to restock inventories amid soaring shipping costs. The cost of shipping has jumped worldwide due to a combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...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 it...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...Read More
The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
Key data from Fastmarkets' pricing session in China on Wednesday November 18. Key drivers Several major suppliers held back from offering, thus tightening the supply of spot material.Consumers with solid demand but limited raw material stocks had to accept much higher prices to meet their prompt production needs. Key quotes"We have received a large number of inquiries...Read More
The South African chrome ore market dipped in the week ended Tuesday November 17 in response to the availability of ample material in China.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was $134 per tonne on Tuesday, down by $2 per tonne (1.5%) from $136 per tonne a week earlier."The decrease in ferro-chrome tender pricing, coupled with a wave of new offers fro...Read More
The base metals were consolidating recent gains but generally holding up near high ground this morning, Thursday November 19 – this despite some nervousness emerging in wider markets about the rapid spread of Covid-19.* Asian Pacific equities were mixed this morning, but major European equity indices were down while they tracked Wednesday’s weakness in US markets* Gold prices also weaker...Read More
Junior Gold Equity ETF (GDXJ) moved below $51.27 extending an intermediate downtrend. Pre-opening Comments for Thursday November 19thU.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Index futures moves slightly lower following release of the November Philly Fed Index and Weekly Jobless Claims report at 8:30 AM EST. Consensus for the Phi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 17. Please click...Read More
Aluminium's three-month price on the London Metal Exchange was among the best performers at the end of trading on Tuesday November 17, with prices stabilizing after a bullish trading session on Monday. The three-month price for the light metal rose by 1.36% from Monday's closing price, to reach $1,977.50 per tonne on Tuesday. A price above $1,970 per tonne for aluminium has not been...Read More