Brazilian ferrous scrap exports fell both year on year and month on month in August while suppliers shifted their focus to the domestic market, data published this week by the country's ministry of the economy shows.Scrap exports reached 55,377 tonnes in August, a 19.7% year-on-year decrease from 69,000 tonnes in 2019 and a 27.6% drop in comparison with 79,460 tonnes in July of this year.The count...Read More
Seaborne hard coking coal prices in the cfr China and fob Australia markets hiked on Thursday September 10 following firmer premium hard coking coal prices and better demand in the fob Australia market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.18 per tonne, up $0.53 per tonnePremium hard coking coal, cfr Jingtang: $126.81 per tonne, down $0.37 per tonneHard coking c...Read More
China's domestic hot-rolled coil prices stopped dropping on Thursday September 10 on optimism generated by positive data for the country's automotive sector.DomesticEastern China (Shanghai): 3,920-3,950 yuan ($573-577) yuan per tonne, unchangedThe China Association of Automobile Manufacturers (CAAM) reported during the day that the country produced 2.12 million vehicles in August. This is a 6.3% y...Read More
Key data from Fastmarkets' pricing session on Thursday September 10 in London.Key drivers Inquiry numbers remained low from consumers but traders, some of which were holding out for figures closer to $16 per lb, have seen offers above the previous range be accepted in today's pricing session....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 transparency into the markets it covers and the pricing process...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
Key data from Fastmarkets' pricing session in China on Wednesday September 9.Key drivers Prices slid after some suppliers lowered their offers to facilitate sales amid shrinking buying interest. Some consumers retreated from the market either because they had replenished sufficient volumes to meet near-term production needs in previous weeks or because they felt current...Read More
Chinese stainless steel prices, in both the domestic and export markets, fell over the past week amid declines in nickel futures as a result of weakness in broader markets.The US stock market experienced pronounced weakness over the past week, which in turn led to falls in commodity futures prices.The Nasdaq Composite Index closed at 11,141.56 on Wednesday September 9, down by 914.88 points (7.58%...Read More
In the absence of any dominant themes at present the base metals and broader markets were mixed this morning, Friday September 11, but prices were generally on the back foot following the emergence of some weakness in recent days, especially in US tech shares.* Asian-Pacific equities and pre-market major western equity index futures were mixed following another down day in US equities on Thursday....Read More
General Electric (GE), an S&P 100 stock moved below $6.00 extending an intermediate downtrend. Pre-opening Comments for Friday September 11thEquity index futures were higher this morning. S&P 500 Futures advanced 17 points in pre-opening trade.Index futures eased slightly following release of the August U.S. Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 9 that are worth another look.From learning early about the practicalities of running a business during summer-holiday work to her role as chief executive officer of Norwegian aluminium and energy company Norsk Hydro, Hilde Merete Aasheim has faced many challenges...Read More
Global tin premiums were stable in the two weeks to Tuesday September 8; a drop in the metal's three-month price on the London Metal Exchange did not drive spot buying, while volatile forward spreads, stagnant demand and supply concerns continued to limit business, Fastmarkets understands.US market sees little evidence of a demand increaseFalling LME price fails to drive European businessImport ar...Read More
Despite broad stability in global zinc premiums this week, and a sharp drop in the metal's three-month price on the London Metal Exchange, an opening of the import arbitrage window for material delivered into China sparked expectations for improved demand in the region. Zinc markets in the United States and Europe were also generally stagnant this week, while a steady recovery in the US econo...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 9 that are worth another look.From learning early about the practicalities of running a business during summer-holiday work to her role as chief executive officer of Norwegian aluminium and energy company Norsk Hydro, Hilde Merete Aasheim has faced many challenges...Read More
Brazilian alumina exports declined by 18.4% in August versus the same period last year due to reduced shipments from both the Alunorte and Alumar refineries during that period, according to data from the country's ministry of economy published this week.Brazil exported 572,708 tonnes of alumina last month compared with 701,743 tonnes in August 2019. Most of those volumes were shipped through the B...Read More
Benchmark alumina prices in the Pacific are under pressure due to quiet market conditions and weak demand, despite ongoing production restrictions at Hydro's Alunorte refinery in Brazil.Fastmarkets benchmark alumina index, fob Australia was at $273.44 per tonne on Wednesday September 9, down by 3.8% from a five-month high of $284.32 per tonne on August 21. "Prices are under pressure and...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 9 that are worth another look.From learning early about the practicalities of running a business during summer-holiday work to her role as chief executive officer of Norwegian aluminium and energy company Norsk Hydro, Hilde Merete Aasheim has faced many challenges...Read More
China's State Reserve Bureau (SRB) is going to start stockpiling cobalt metal in the near future, market sources told Fastmarkets on Wednesday September 9.One producer source told Fastmarkets they had received a notice from the country's reserve authority late in the evening in China, informing them to collect a tender document the next day - Thursday September 10. It is still unknown, however, ho...Read More
Turkish steel mills have been busy in the deep-sea scrap market in recent weeks and booked four more cargoes totaling more than 150,000 tonnes on Wednesday September 9, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $301 per tonne cfr, 12,000 tonnes of shredded at $306 per tonne and 8,000 tonnes of bonus at $311 per ton...Read More
Japanese export steel scrap prices jumped on Wednesday September 9 following a strong increase in the Kanto auction for the second month running, market sources told Fastmarkets.Japan's Kanto Tetsugen, a monthly auction between a cooperative of scrap dealers in the Tokyo region, closed at ?29,370 ($276) per tonne fas on Wednesday, up by ?2,154 per tonne from the previous month.August's auction p...Read More