Steel slab exporters from the Commonwealth of Independent States (CIS) are testing the market with a new round of offer increases, supported by the continuing uptrend in the raw materials and finished flat steel products sectors, Fastmarkets heard on Tuesday September 8.A Russian producer shipping material from the country's Far East ports was heard to have agreed several deals last week around $4...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US hot-rolled coil (HRC) prices performed in line with our expectations in August, with US domestic HRC prices finding a floor in July as forecast before they rose in August. US HRC prices averaged $522 per tonne in August, which compares with our forecast price of $518 per tonne. Based on an improving demand outlook and ris...Read More
Iron ore prices in seaborne markets and ports were relatively stable on Tuesday September 8, while stricter sintering restrictions and market expectations of port congestion relief weakened bullish sentiment, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.12 per tonne, up $0.01 per tonne62% Fe low-alumina fines, cfr Qingdao: $129.16 per tonne, down $0.28 per tonne58% Fe...Read More
Seaborne premium hard coking coal prices changed marginally on Tuesday September 8, while there was one transaction in the fob market during the day while the cfr market was muted, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110.47 per tonne, up $0.42 per tonne Premium hard coking coal, cfr Jingtang: $115.60 per tonne, down $0.28 per tonneHard coking coal, fob DBCT: $86.76...Read More
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 Fastmarkets.BFs in the country cut steel production drastically in the first half of 2020, with the Covid-19 pandemic battering demand in the automotive and manufacturing sector.The index for J...Read More
China's coking coal import quotas have changed the dynamics of the seaborne market, making the trading of the steelmaking raw material more risky, time-consuming and expensive for traders.What was typically a month-long process for a vessel carrying Australian coking coal to deliver to China has stretched to at least four months after import quotas became scarcer and port restrictions became tight...Read More
China's hot-rolled coil producers kept export offers stable on Tuesday September 8 despite a weakening of domestic prices.DomesticEastern China (Shanghai): 3,980-4,020 yuan ($583-589) yuan per tonne, down 20-30 yuan per tonneA Shanghai-based trader said trading activity had thinned during the day in comparison with Monday, with buyers being reluctant to place orders amid falling futures.A second S...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 Cobalt standard...Read More
China's domestic magnesium prices softened in the past week on high supply, a lack of local demand and a subdued overseas market despite a gradually recovering world economy.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,500-12,600 yuan ($1,827-1,841) per tonne on Friday September 4, down by 100 yuan per tonne from 12,600-12,700 yuan per tonne a week earlier. This also...Read More
Vanadium product prices in China fell in the week to Friday September 4, after local suppliers reduced their offers in an attempt to secure deals amid abundant supplies and aggressive bids, sources told Fastmarkets. Alloy prices slide on aggressive bids from mills After postponing procurement activities in the week to August 28, many Chinese mills returned to the market last week to purc...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 Sha...Read More
Walgreens Boots (WBA), a Dow Jones Industrial stock moved below $35.83 extending an intermediate downtrend.Pre-opening Comments for Wednesday September 9thU.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US75.65 cents prior to the Bank of Canada's economic update released at 10:00 AM EDT. T...Read More
Here are five Fastmarkets stories you might have missed on Monday September 7 that are worth another look.The Labor Day holiday in the United States meant that three-month base metals prices on the London Metal Exchange were little changed at the close of trading on Monday, with trading volumes thin. LME nickel futures showed the biggest losses over the afternoon.In Asia, Vietnamese buyers remaine...Read More
Three-month base metals prices on the London Metal Exchange were little changed at the close of trading on Monday September 7, with trading volumes across the day thin because of the Labor Day national holiday in the United States, while LME nickel futures topped losses over the afternoon.Nickel's outright price on the LME closed at $15,186 per tonne on Monday afternoon, dipping from an intraday h...Read More
Three-month base metals prices on the London Metal Exchange were mixed during morning trading on Monday September 7, with low turnover across the Asian trading session prompting sideways trading, while an ongoing drawdown in LME copper stocks kept the red metal's underlying price elevated. Copper's three-month price on the LME was recently trading at $6,743.50 per tonne on Monday morning, climbing...Read More
Producers of seaborne manganese ore, both 38% and 44% grades, successfully raised their offer prices on a cif Tianjin basis over the week ended Friday September 4, with support from the rise in value of the Chinese yuan, and from rising port and alloy prices, and despite underlying concerns about ore oversupply.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, was $4.22 per dry metric tonne u...Read More
The latest data for the global manganese ore market for the week ended September 7, 2020.Read More
Here are five Fastmarkets stories you might have missed on Monday September 7 that are worth another look.The Labor Day holiday in the United States meant that three-month base metals prices on the London Metal Exchange were little changed at the close of trading on Monday, with trading volumes thin. LME nickel futures showed the biggest losses over the afternoon.In Asia, Vietnamese buyers remaine...Read More
Prices for rebar imports into Singapore were unchanged in the week to Monday September 7 amid limited spot negotiations, market sources told Fastmarkets.Major end users in Singapore did not purchase any materials amid weak demand from downstream construction contractors and high inventory levels. This is unlike the Hong Kong import market, which sources said had bought 52,000 tonnes of Turkish reb...Read More