Seaborne iron ore prices fell on Wednesday September 9 amid limited demand in the steelmaking hub of Tangshan, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $126.54 per tonne, down $2.58 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $126.83 per tonne, down $2.33 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $114.93 per tonne, down $0.26 per tonne....Read More
The seaborne premium hard coking coal cfr index skyrocketed on Wednesday September 9 following a transaction of premium mid-volatility hard coking coal done at $120 per tonne, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $111.65 per tonne, up $1.18 per tonne Premium hard coking coal, cfr Jingtang: $127.18 per tonne, up $11.58 per tonneHard coking coal, fob DBCT: $87.26 per t...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
Nickel premiums in China continued their ascent in the week to Tuesday September 8 after demand strengthened while premiums in the United States fell after demand weakened in the region, sources told Fastmarkets. China NPI, nickel sulfate prices rose anew amid robust demandUS nickel briquette premiums widened down with stainless demand feebleEuropean premiums held in an illiquid spot market, with...Read More
Hot-rolled coil buyers in Vietnam and Pakistan retreated from the market on Wednesday September 9 following continuous declines in Chinese prices, according to market participants.DomesticEastern China (Shanghai): 3,920-3,950 yuan ($573-578) yuan per tonne, down 60-70 yuan per tonneSellers in Shanghai were offering HRC at 3,950-3,960 yuan per tonne during the morning, but were forced to cut offers...Read More
Gains in London Metal Exchange three-month base metals prices were broadly capped during morning trading on Wednesday September 9 with futures prices failing to fully retrace gains after the previous day's plunge in US equities markets.Most notably, stocks in high-profile electric vehicle (EV) maker Tesla plummeted by a significant 21% on Tuesday, while shockwaves continue to be felt across global...Read More
United States-based electric vehicle maker Tesla's failure to be listed as an S&P 500 company led to a 20% share price fall on Tuesday September 8, that in turn led to a 4% fall in the Nasdaq index - markets are wondering whether this will be a catalyst for a broader reality check? Or just provide another dip-buying opportunity?Base metals prices on both the London Metal Exchange and Shanghai Futu...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 9.Key driversTighter titanium scrap availability persists, although is yet to manifest in pricing with current levels stable for ten consecutive weeks. Market sources expect the influence of tighter scrap availability - due to a fall in scrap generation in recent months while international economies slumped amid measures t...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 it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...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
Key data from Fastmarkets' pricing session in Shanghai on Wednesday September 9.Key drivers The continued rise in the futures market encouraged domestic suppliers to either raise offer prices again or hold back from offering before more gains ahead. The October indium contract on the Wuxi Stainless Steel Exchange, for example, closed at 1,410 yuan ($206.08) per kg on September 9, up by 13.3% from...Read More
The cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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.Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More
A rebound in the United States’ Nasdaq Composite Index on Wednesday September 9 may have underpinned broader markets, but the base metals were less convinced with most ending the day in negative territory.Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were broadly lower again this morning.* Asian-Pacific equities and pre-market major western equity index futures...Read More
McDonalds (MCD), a Dow Jones Industrial Average stock moved above $216.43 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Thursday September 10thEquity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. The ECB announced that its overnight lending rates to European banks remained unchanged. Index futures were vi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 8 that are worth another look.Japanese blast furnace (BF)-based steel mills have been using more scrap in their basic oxygen furnaces in recent weeks due to a rise in steel production and high costs for iron ore, market participants told...Read More
London Metal Exchange three-month base metals prices trended lower at the close on Tuesday September 8 with concern over macro-economic headwinds inspiring a sell-off across the complex.While macroeconomic developments - including promises of increased infrastructure spending and hopes of a trade deal between China and the United States - have supported recent price increases, some...Read More
Raffmetal - Europe's largest secondary aluminium producer - has been awarded the Aluminium Stewardship Initiative (ASI) 'Performance Standard' certification for its refining operations in Casto, Italy, the company told Fastmarkets on Tuesday September 8.Raffmetal's accreditation is the latest in a slew awarded in 2020, including primary aluminium producers Alvance Aluminium and Impol, while other...Read More