Seaborne iron ore prices were up on Wednesday July 29 in an active day on trading platforms, with gains observed in the futures markets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $110.57 per tonne, up $3.91 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $112.98 per tonne, up $3.19 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $97.41 per tonne, up $1.86 per tonne. ...Read More
Ukraine-based integrated steelmaker ArcelorMittal Kryvyi Rih (AMKR) plans to construct a pelletizing plant that is expected to start production by the end of 2023, its chief executive officer, Mauro Longobardo, said.The plant will have the capacity to produce pellets at a rate of 5 million tonnes per year and will raise the Fe content in the mill's iron ore products to 68% from 65.3% currently, ac...Read More
The firmly-closed arbitrage window between the London Metal Exchange and Shanghai Futures Exchange manifested in lower China nickel premiums in the week to Tuesday July 28, with a lack of profit-making pushing deals lower, Fastmarkets heard.Closed arb window pushes China premiums lowerUS spot market flat amid muted return to market from stainless steel millsEuropean market remains subdued amid sum...Read More
China's domestic rebar prices were flat on Wednesday July 29, with trading activity remaining stagnant despite strengthening futures.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($510-514) per tonne, unchangedChina's strengthening stock market lent strength to rebar futures during the day, an industry analyst in Shanghai said.The Shanghai Composite Index ended Wednesday at 3,294.55 points,...Read More
The London Metal Exchange three-month zinc price made gains during the morning session on Wednesday July 29 after a further 15,050-tonne fresh inflow into LME approved warehouses this morning. LME zinc stocks have been subject to over a week of significant consecutive inflows, with stocks up 54% to their current 187,475-tonne level today from 121,050 tonnes on July 20.The rising stocks failed to c...Read More
Key data from the pricing session in London on Wednesday July 29. Key driversMarket participants eye higher cobalt metal, salt and intermediate prices in China, which have translated into some sellers raising offer prices in the international market - including some...Read More
Cobalt hydroxide payables continued to rally in the first half of the week started Monday July 27, with logistical tightness in South Africa still limiting suppliers' capacity to offer units on spot inquiries.The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), rose to 74-75% on July 29, up from 70-73% on July 24. This was...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 $13.75-14.15 per lb on Wednesday July 29, 2020....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...Read More
Key data from the pricing session in Europe on Wednesday July 29.Key drivers The ferro-titanium market has established a price floor after dropping steadily in recent weeks, with the price range holding in its present range in expectation of renewed demand and tighter scrap availability in the near term. For now, the alloy price range is at a level last seen on February 3, 2017, when the asse...Read More
Key data from Fastmarkets' pricing session in China on Wednesday July 29. Key driversSome major producers increased their offer prices in response to growing inquiries.A few suppliers held back from offering this week, which limited the availability of cargoes in...Read More
A summary of Tubacex, Spanish manufacturer of seamless stainless steel tube, financial performance in the first half-year of 2020. In brief Tubacex attributed weaker half-year results due to the effects of the Covid-19 pandemic. Pandemic-related lockdowns around the globe since March have led to a significant sales drop in the power generation market. Activity in the global seamless st...Read More
A summary of stainless steel producer Aperam's results for the second quarter of 2020.In brief Aperam recorded a sharp drop in earnings in the second quarter of 2020 due to restrictions imposed to curb the spread of the Covid-19 pandemic leading to a drop of demand for stainless flat steel and lower selling prices - although pressure from imports also dropped com...Read More
The continued price differential between Chinese and European vanadium prices that sparked interest in exports to China has left inventories in Europe depleted and has eventually sent European prices upward, market sources told Fastmarkets. Fastmarkets assessed the ferro-vanadium 78% V min, fob China price at $29.50-30.50 per kg on Thursday July 23, unchanged from the previous week, while its...Read More
Dow Jones Industrial Average moved below its 20 and 50 day moving averagesQUALCOMM (QCOM), a NASDAQ 100 stock moved above $94.68 to an all-time high extending an intermediate uptrend.ConocoPhillips (COP), an S&P 100 stock moved below $37.08 extending an intermediate downtrend.Suncor (SU), a TSX 60 stock moved below $21.26 setting an intermediate downtrend. Raytheon Technologies (RTX), a Dow Jo...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 28 that are worth another look.Brazilian long steel producers have announced an 8% domestic rebar price increase for September after having already raised their prices by around 10% in July, sources told Fastmarkets this week.After successfully taking advantage of...Read More
Aluminium premiums in Europe and Brazil moved higher during the week to Tuesday July 28 amid cautiously bullish sentiment, while other areas remained stable.Premiums rise across EuropeDemand revival pushes Brazilian premium higherStable market conditions in United StatesChina static but bullishSouth Korea premiums up, while MJP is stable Contango pushes Rotterdam premiums higherAluminium premiums...Read More
LME three-month base metals prices failed to make significant gains at the close on Tuesday July 28, stalling ahead of tomorrow's clarification on US fiscal stimulus measures.The US Federal Reserve announced today that it had extended its existing lending facilities, from September 30 to December 31, to combat the economic fallout of the Covid-19 pandemic.But the market still remain...Read More
A subsidiary of Noranda Income Fund (NIF) has entered into a streaming deal with streaming and royalty company BaseCore Metals LP for zinc processed and refined at its electrolytic processing facility in Quebec, Canada, the company said. The proceeds of the deal will be used to expand capacity at the company's Canadian Electrolytic Zinc (CEZ) refinery by around 20,000 tonnes per year. BaseCore is...Read More
The latest data for the global manganese ore market for the week ended Monday July 27, 2020.Read More