Domestic prices for hot-rolled coil in Northern Europe have been fairly stable day on day on Thursday September 17, following an increase a day earlier, sources told Fastmarkets.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?482.50 ($571.27) per tonne on Thursday September 17, down by just ?,?0.12 per tonne day on day from ?,?482.62 per tonne.On W...Read More
China's hot-rolled coil prices were stable in the domestic market on Thursday September 17, while the export price continued to fall and gain competitiveness in the Southeast Asian market. Domestic Eastern China (Shanghai): 3,850-3,880 yuan ($569-573) yuan per tonne, unchanged Prices were stable on Thursday amid small moves in the futures market, but trading activity has picked up, sources said. A...Read More
The takeaways from the latest edition of the Steel Raw Materials Market Tracker are ready to view.Iron ore prices remained relatively stable last week, signalling an end to the price spike. And for the first time since March, at the time of the Covid-19 lock-down in Hubei, we have seen a consistent downturn in utilization rates in China. Blast furnace utilization rates dropped for a fifth consecut...Read More
Fastmarkets' premium hard coking coal indices remained flat on Thursday September 17, while the hard coking coal indices pushed up in response to reports of a transaction on Wednesday. Market participants, meanwhile, were assessing the recent jump in premium hard coking coal prices. Fastmarkets indicesPremium hard coking coal, fob DBCT: $121.73 per tonne, unchanged Premium hard coki...Read More
Seaborne iron ore prices remained on a downward trend on Thursday September 17 amid weaker market sentiment, trade sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.36 per tonne, down $1.84 per tonne.62% Fe low-alumina fines, cfr Qingdao: $122.59 per tonne, down $1.81 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $112.28 per tonne, down $2.22 per tonne...Read More
The weakness in metals and equities this morning, Thursday September 17, indicates markets were taking the US Federal Open Market Committee's (FOMC) projections and comments that they will likely keep interest rates on hold through at least 2023 as suggesting there will continue to be tough times ahead in the real economy.Does this highlight the start of a reality check where markets start to focu...Read More
China's domestic stainless steel prices experienced a larger rate of decrease over the week ended Wednesday September 16 on dropping demand, although nickel prices remained strong.The three-month nickel contract on the London Metal Exchange ended Wednesday's official trading session at $15,183 per tonne, up by $330 per tonne (2.2%) from $14,853 per tonne a week earlier.Fastmarkets' weekly price as...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...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
China's State Reserve Bureau (SRB) is likely to use a floating price to settle its latest round of cobalt metal stockpiling, according to a market source close to the matter. The SRB sent invitations to a handful of cobalt metal producers in China for a tender on Wednesday September 9; the tender was completed during the morning of Thursday September 17, according to a market source.No concre...Read More
Key data from Fastmarkets' pricing session in China on Wednesday September 16.Key drivers Domestic suppliers slashed their offer prices to facilitate deals after buying interest waned following declines in futures prices on the Wuxi Stainless Steel Exchange. The October indium contract on the exchange, for instance, closed at 1,130 yuan ($167) per kg on Wednesday, down by 19.1% from a close of 1,3...Read More
Ferroglobe will extend cuts to its production of standard-grade ferro-silicon from its European operations through the rest of this year, with no output from France and reduced output from Spain, industry sources told Fastmarkets on Thursday September 17.Spain-based Ferroglobe will make no standard-grade ferro-silicon at all in France this year, having idled two furnaces at Chateau-Feuillet on Sep...Read More
The European high- and low-carbon ferro-chrome markets strengthened on Tuesday September 15 due to a slow recovery in demand.Fastmarkets' weekly price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, was $0.85-0.97 per lb Cr on Tuesday, tightening from $0.83-0.98 per lb a week earlier."The capacity of users' production lines has been slowly coming b...Read More
This time yesterday base metals prices were down across the board, but with the exception of Shanghai Futures Exchange tin, they were all up during morning trading on Friday September 18 – showing sentiment remains bullish overall with dips being bought.This suggests prospects for increased demand for metals from infrastructure projects is driving sentiment and the market is not so concerned...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 2 points in pre-opening trade. Today is Quadruple Witching Day for U.S. markets when September equity and index options and futures record their last trade. Volumes on U.S. exchanges are expected to be well above average. The Canadian Dollar was virtually unchanged at US75.80 cents following release of Canada's July Re...Read More
Here are five Fastmarkets that you might have missed on Wednesday September 16 that are worth another look.JSW Steel Italia, part of Indian steelmaker JSW Steel, plans to resume liquid steel production at the former Aferpi mill in Italy by 2025 via construction an electric-arc furnace (EAF) with financial support from the Italian government,...Read More
Brazilian miner Vale plans to invest in nickel and copper capacity expansions and mineral resource replenishment in the coming years, the company disclosed in a presentation to analysts and investors on Wednesday September 16.At its nickel operations in Canada, the mining company expects to start a project in 2021 to bring 45,000-55,000 tonnes per year (tpy) of new capacity online in an...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 16.Please click...Read More
Here are five Fastmarkets that you might have missed on Wednesday September 16 that are worth another look.JSW Steel Italia, part of Indian steelmaker JSW Steel, plans to resume liquid steel production at the former Aferpi mill in Italy by 2025 via construction an electric-arc furnace (EAF) with financial support from the Italian government,...Read More
China will be able to absorb the large volumes of ore and ferro-alloys supply it imported in the first half of this year, but supply concerns loom, Fastmarkets head of research Alistair Ramsay said during a recent Fastmarkets webinar on Covid-19 and what it means for trade flow and demand for key ferro-alloys and ores."It is been an extraordinary period with record levels of ores and ferro-alloys...Read More