The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More
Seaborne premium hard coking coal prices were flat day on day on Thursday August 6 due to a lack of transactions, while market participants held that seaborne premium prices would be relatively stable short term, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.91 per tonne, down $0.10 per tonne Premium hard coking coal, cfr Jingtang: $116.38 per tonne, up $0.08 per to...Read More
Seaborne iron ore prices were up on Thursday August 6 amid better weather conditions in eastern China and the return of demand from the construction sector, according to trader sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $121.27 per tonne, up by $3.17 per tonne.62% Fe low-alumina fines, cfr Qingdao: $121.18 per tonne, up by $2.84 per tonne.58% Fe fines high-grade premium, cfr Qi...Read More
Blockchain technology can help the global iron ore industry thrive amid the headwinds encountered by steelmaking countries around the world, according to Singapore's DBS Bank."Much of the iron ore industry remains mired in antiquity with many processes still done manually, which gives rise to the risks of human error and a lack of data transparency across the supply chain," its group head of trade...Read More
Export prices for bulk cargoes of Japanese scrap extended their upward movement for a fourth week ahead of an extended holiday period, market sources told Fastmarkets in recent days.Japanese scrap sellers continued to sell cargoes to Vietnam, Taiwan and South Korea over the past week, while negotiations were also taking place involving buyers in Bangladesh following increased demand in the South A...Read More
China's domestic prices for hot-rolled coil edged up on Thursday August 6, but the arrival of imports is increasing supply pressure for re-rolling grades of the flat steel product.DomesticEastern China (Shanghai): 4,070-4,080 yuan ($586-587) per tonne, up 10 yuan per tonneA Shanghai-based trader said trading activity was thin during the day after sellers raised prices.But most market participants...Read More
The London Metal Exchange three-month nickel price continued to trade in positive territory during the morning session on Thursday August 6, with ongoing weakness in the dollar index supporting buying momentum, while a surge in German manufacturing orders spurred hopes of economic recovery in Europe. Nickel's outright price on the LME was recently at $14,390 per tonne, dipping slightly below the n...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday August 6, but the complex was up by an average of 0.4%.Pre-market major western equity index futures and equities in Asian-Pacific markets were also mixed.Western markets waiting for news on a stimulus package announcement by the United States this week, as well as Friday US employment report... ...either...Read More
China's domestic and export prices for stainless steel increased sharply over the past week after the country's National Bureau of Statistics (NBS) releasing positive data for downstream sectors.China's manufacturing purchasing managers' index was 51.1 points for July, up by 0.2 points from June, according to the NBS. This is the fifth month that the index has been above 50%, which indicates growt...Read More
The cobalt alloy grade, in-whs Rotterdam 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 alloy grade, in-whs...Read More
The cobalt standard grade, in-whs Rotterdam 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 at $14.60-15.05 per lb on Thursday August 6. Sale at $14.6...Read More
Glencore will not rush to bring its Mutanda copper-cobalt mine in the Democratic Republic of Congo (DRC) back into production ahead of an increase in demand from the electric vehicle sector, and while cobalt prices are low, chief executive officer Ivan Glasenberg said during an investor call earlier today. Mutanda was put on care and maintenance for at least two years at the end of November 2019 f...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday August 5.Key drivers European antimony prices climbed this week following higher shipment offers from China. Chinese suppliers maintained firm offer prices amid growing buying interest and persistent difficulty in securing cheap ore material from abroad. Tight prompt inventories in Rotterdam...Read More
Fastmarkets will increase the pricing frequency of its fixed price cobalt hydroxide index, to fortnightly from Friday August 7.From August 7, Fastmarkets will publish its cobalt hydroxide index, min 30% Co, cif China on Friday every other week.The decision to increase the pricing frequency of the index reflects market feedback from an initial consultation period and a review of fixed price data th...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonneThe exchange rate on Wednesday August...Read More
End-user demand for steel in Mexico has improved and most sectors are performing close to pre-pandemic levels, according to Latin American steel group Ternium."Demand in the Mexican industrial sector is very good today," its chief executive officer M??ximo Vedoya said on Wednesday August 5.Among the sectors that are performing better are home appliances, automotive and infrastructure, he added.Mex...Read More
Biogen (BIIB), a NASDAQ 100 stock moved above $404.20 setting an intermediate uptrend. Dollarama (DOL) , a TSX 60 stock moved above $50.10 extending an intermediate uptrend. Pre-opening Comments for Friday August 7thU.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Index futures moved higher following release of the July Employmen...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 5 that are worth another look....Read More
The three-month nickel price on the London Metal Exchange was pushed higher at the close of trading on Wednesday August 5 by a flurry of panic-buying against the monthly options expiry deadline, while zinc notched its highest close since January. Nickel's outright price on the LME closed at $14,419 per tonne on Wednesday afternoon, its highest close of the year while trading volumes were the highe...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 8.Please click...Read More