A producer has offered fourth-quarter 2020 supply of aluminium to main Japanese ports (MJP) at a premium of $95 per tonne over the London Metal Exchange cash price, according to market sources.The number is 23.4% higher than the cif MJP premium for the third quarter of 2020, which settled at $75-79 per tonne.Major producers - Rio Tinto, South32, Alcoa and Rusal - are involved in negotiating quarte...Read More
When Nick Popovic was formally announced in August as Glencore's new head of zinc and lead trading, the news came as little surprise to watchers of the company.A long-running senior executive in the division, with experience leading the key Kazzinc group of assets, the move to succeed Daniel Mate was seen by many as a natural fit."Nick's been in the company for many years, he's a good safe set of...Read More
Finished steel imports into the United States soared month on month in July due to a massive influx of blooms, billets and slabs from Brazil, according to data from the US Department of Commerce's Enforcement and Compliance division. The US imported 2,440,509 tonnes of steel products in July, up by 1,173,037 tonnes (92.5%) from 1,267,472 tonnes in June but down by 307,627 tonnes (11.2%) from...Read More
Domestic prices for hot-rolled coil in Northern Europe moved further up day on day on Thursday August 27, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?449.89 ($531.71) per tonne on Thursday August 27, up by ?,?2.02 per tonne from ?,?447.87 per tonne on Wednesday August 26. The index was also up by ?,?18.01 per tonn...Read More
Imported steel billet prices increased slightly in Egypt because of higher offer prices, sources told Fastmarkets on Thursday August 27.The reason demand was slow is because of weak construction activity, Egyptian sources said, amid the construction ban in the country - imposed on May 25 and due to last for six months.Although this...Read More
Turkish steel billet prices have been largely stable over the past week but could be pushed up by stronger scrap costs soon, sources said on Thursday August 27.Fastmarkets' weekly price assessment for steel billet, domestic, exw Turkey, was $420-425 per tonne ex-works on August 27, unchanged week on week."The mills had lowered their billet offers to as low as $417 per tonne ex-works earlier this w...Read More
Turkish domestic long steel prices increased further over the past seven days in line with the weakening of the country's lira against the US dollar, sources said on Thursday August 27.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 3,860-3,870 lira ($523-524) per tonne on Thursday, up from the 3,790-3,810 lira per tonne of last week.The domestic r...Read More
Turkish export prices for steel rebar and wire rod have remained steady over the past week, but mills were trying for higher prices due to firmer costs for scrap raw material, sources said on Thursday August 27.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $430-440 per tonne fob on Thursday, unchanged from last week.Rebar export offers we...Read More
The Turkish steel producers have taken a break from deep-sea scrap purchases after booking a number of cargoes earlier in the week, sources said on Thursday August 27.The mills in Turkey booked six deep-sea scrap cargoes from various destinations at slightly higher prices this week, totalling around 220,000 tonnes.The most recent bookings brought the HMS 1&2 (80:20) price to $287.50 per tonne cfr...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the year 2020 to date in late August, the Fastmarkets 62% Fe iron ore benchmark has powered along and reached six-year highs, supported by Chinese demand, and despite the global economic uncertainty created by the Covid-19 pandemic. Iron ore demand has weakened almost everywhere except in China, where it has continued to...Read More
Prices for bulk cargoes of scrap imported to Bangladesh moved up again over the last week with offer prices from key exporters on the rise, market participants told Fastmarkets.At least two mills have been shopping around the market for bulk cargoes this week, Fastmarkets understands, with offer prices from both Japan and the United States at higher levels than last week.Sellers in the US West Coa...Read More
Iron ore fines prices declined on Thursday August 27, with market sources saying that the further restrictions on sintering in the Tangshan area of northern China have depressed trading sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.22 per tonne, down $1.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.69 per tonne, down $1.96 per tonne58% Fe fines high-grade premium...Read More
Seaborne coking coal prices were relatively flat across the board despite recent transactions done in the fob market, although market participants agreed that India alone cannot support the premium for mid-volatility hard coking coal prices for long. Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.92 per tonne, up $0.01 per tonne Premium hard coking coal, cfr Jingtang: $114.70 per tonn...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
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. Fastmarkets assessed...Read More
The publication of Fastmarkets' European cobalt price assessments for August 27 will be delayed because of a technical issue.Fastmarkets' pricing database, MInD, will be updated at the earliest possible moment to reflect the below assessments for the following prices: MB-CO-0004 Cobalt alloy grade, in-whs Rotterdam, $/lbAugust 26 price: $15.25-15.70 per lbAugust 27 price: $15.25-15.70 per lbMB-CO-...Read More
Key data from Fastmarkets' pricing session in China on Wednesday August 26. Key driversSome producers continued to raise their offer prices while several others held back from offering, and therefore limited the availability of spot cargoes.A number of consumers in the magnet sector asked around only to find it is difficult to source material and had to accept some high offers to meet prompt produ...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday August 26. Key driversDomestic suppliers raised their offer prices significantly following substantial gains in the futures market.The September indium contract on the Wuxi Stainless Steel Exchange closed at 1,198 yuan ($173.75) per kg on August 26, up by 24.8% from 960 yuan per kg at the close on August 19.A number of consumers w...Read More
China's domestic stainless steel prices maintained their upward momentum in the week ended Wednesday August 26, after major mills in the country sharply increased their ex-works prices.Costlier nickel also provided support to the stainless steel market.The three-month nickel contract on the London Metal Exchange ended Wednesday's official trading session at $15,077 per tonne, up by $319 per tonne...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening tradeU.S. equity indices were virtually unchanged following release of economic news at 8:30 AM. Consensus for July Personal Income was an ease of 0.2% versus a decline of 1.1% in June. Actual was a gain of 0.4% Consensus for July Personal Spending was an increase of 1.5% versus an increase of...Read More