Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne58% Fe fines high...Read More
Seaborne coking coal prices remained relatively stable on Wednesday October 20 with no trading activity. In China, market participants were cautious after the National Development and Reform Commission (NDRC) held meetings on thermal coal price controls on Tuesday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, unchangedHard coking coal, cfr Jingtang: $563.37 per tonn...Read More
Lead's three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.Lead's three-month price closed at $2,417 per tonne on Wednesday, a 1.7% increase from its Tuesday closing price of $2,376 per tonne. "We envisage a...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies in...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 20.Please click...Read More
The 300-series stainless steel scrap prices in the United States continued to rise this week on the heels of the London Metal Exchange cash nickel price climbing well over the $9-per-lb mark.The big question, according to many processors and dealers, is: "Just where is this market really going?"While volatility in the nickel contract has been the main driver of recent scrap price moves, scarcity o...Read More
Australia-based global miner BHP has raised its offer in a bidding war to acquire prospective Canadian nickel producer Noront Resources.The Toronto-based junior miner recommended to its shareholders in July that they accept BHP's offer, worth at that time C$325 million ($263 million), instead of a competing offer from another Australian miner, Wyloo Metals.Wyloo counteroffered, and BHP raised its...Read More
Nickel premiums were stable globally on Tuesday October 19, supported by tight inventories.Strong fundamentals continue to keep US premiums firm.Supply remains supportive of Asia premiums, but there is low liquidity with the arbitrage window closed.Europe premium is flat with liquidity still low post-LME Week.US premiums braced against headwinds, tailwindsNickel premiums were unchanged in the Unit...Read More
A summary of Chilean copper producer Antofagasta's results for the third quarter of 2021, taken from its quarterly production report published on Wednesday October 20.In brief?EUR?Antofagasta's overall copper production in the third quarter of 2021 was 181,100 tonnes, up by 1.5% from the previous quarter on higher production at Centinela, which offset lower throughput at Los Pelambres, the company...Read More
Trafigura has been drawing down stocks of copper from London Metal Exchange warehouses to deliver to customers, mainly in Asia and Europe, amid extremely tight market conditions, the company said.A spokeswoman for the physical commodities merchant said it had fully communicated this to the LME ahead of canceling warrants."Trafigura's role is to ensure security of supply of commodities for its cust...Read More
Domestic and imported steel reinforcing bar prices in the United States were sideways on Wednesday October 20, but sources noted growing uncertainty around what the rest of the quarter may look like.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on October 20, unchanged since August 11 at its highest since late 2008. Notably...Read More
Hot-rolled coil prices in the United States increased incrementally day on day on Wednesday October 20, but ultimately reflected the ongoing downward trend.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.95 per hundredweight ($1,919 per ton) on Wednesday, up slightly from $95.89 per cwt on Tuesday, but down 0.87% from $96.79 per cwt one week earlier. The index is...Read More
Wire rod prices in the United States rose by $40 per short ton ($2.00 per cwt) in October, to hit record highs for domestic and imported low-carbon wire rod, high-carbon wire rod and cold-heading quality wire rod.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $59.50-62.50 per hundredweight ($1,190-1.250 per short ton) on Tuesday October 19, up 3...Read More
Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on Wednesday October 20.The Ghent employees have rejected a new salary agreement offered by the company, Fastmarkets heard, but no details were revealed.Several sources familiar with the matter said that the steelworkers have filed notice...Read More
Steel rebar producers in Egypt increased their prices by around E ?400-600 ($25-38) per tonne with effect from Wednesday October 20, Fastmarkets has heard.The country's biggest producer, Ezz Steel, was now offering rebar at E ?15,000 ($952) per tonne ex-works including 14% VAT, rising from the previous E ?14,600 per tonne. The price was previously unchanged since May 17.Rebar producers in Egypt...Read More
The price of steel hollow sections in Europe moved downward in the week to Wednesday October 20, due to recent imports and falling feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,230-1,275 ($1,432-1,484) per tonne on October 20, down from ?,?1,275-1,330 per tonne on October 13.Domestic hollow se...Read More
Tight ferrous scrap supply in the United States export market is fueling expectations that prices for all grades could jump by as much as $40 per gross ton in November's trade, with domestic prices expected to mimic the recent surge in their exported counterparts."We're on the first stage of the rocket, and we're going to see a $100-per-ton increase by the year end. I think minimum $40 per ton nex...Read More
Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More
Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More
Seaborne iron ore prices movements were rangebound on Wednesday October 20 amid easing coking coal prices in China, which might have prompted some demand for low-mid grade iron ore fines, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.07 per tonne, up $0.03 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.21 per tonne, down $0.22 per tonne58% Fe fines high...Read More