Wire rod prices in the United States were stable after rising lastmonth, but downward pressure has been mounting with Covid-19 pandemic-related uncertainty continuing to cast a pall over buying activity in the domestic market. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $30-31 per hundredweight ($600-620 per short ton) on Tuesday June 16,...Read More
Prices for steel mesh-quality wire rod were broadly stable in the south with Italian producers considering increases, while in the north of Europe prices declined slightly on thin trading, sources told Fastmarkets on Wednesday June 17Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?420-440 ($475-497) per tonne on Wednesday June 17,...Read More
Most stainless scrap prices in the United States have moved lower week on week, with the market losing its upward momentum amid concerns over a possible second wave of Covid-19, the seasonal summer slowdown, limited supply and weakening demand."There has been no change in supply or demand conditions, and the London Metal Exchange cash nickel has not changed significantly from last week to warrant...Read More
Turkish steel producers continued to book deep-sea scrap for July shipment at steady prices on Wednesday June 17, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $267 per tonne cfr and 15,000 tonnes of shredded at $272 per tonne cfr.Following the news of the US transaction, the change in the daily scrap indices was on...Read More
Seaborne coking coal prices were relatively stable on Wednesday June 17 and Chinese market participants believe prices will remain flat for the near term. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.18 per tonne, down $0.18 per tonne Premium hard coking coal, cfr Jingtang: $117.34 per tonne, down $0.01 per tonne Hard coking coal, fob DBCT: $89.41 per tonne, unchanged Hard coking c...Read More
Seaborne iron ore prices weakened on Wednesday June 17 amid concerns over the demand outlook for steel products.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.09 per tonne, down $0.76 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $106.43 per tonne, down $1.37 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $92.78 per tonne, down $1.23 per tonne. 65% Fe Brazil-o...Read More
BHP has appointed David Lamont as its new chief financial officer effective December 1, 2020, ahead of the departure of the current CFO Peter Beaven, the company announced on Wednesday June 17.Currently Lamont is the CFO of the Australia Stock Exchange-listed biotech company CSL, a position he has held since January 2016.Read More
The Shanghai Futures Exchange aluminium price uptrend will last at least until the end of June on recently strong downstream demand but new aluminium projects as well imported material may cap that, several aluminium market experts said to Fastmarkets on June 16.The SHFE aluminium price stood at 13,875 yuan ($1,957) per tonne on June 16, up 270 yuan from Monday's close at 13,600 yuan per tonne. Th...Read More
China's domestic rebar prices dropped slightly on Wednesday June 17 amid concerns over whether the construction sector would come under restrictions due to a fresh Covid-19 outbreak in Beijing.Domestic Eastern China (Shanghai): 3,550-3,580 yuan ($501-505) per tonne, down by 20 yuan per tonneMarket participants are worried that construction sites in Beijing would have to stop work to contain the sp...Read More
The London Metal Exchange three-month nickel price held just above $13,000 per tonne during morning trading on Wednesday May 17, having rallied by 2.2% at the previous day's close and shrugged off a marginal 180-tonne inflow of stock into Kaohsiung, Taiwan. The LME three-month nickel contract was recently trading around $13,015 per tonne, remaining above the $13,000 per tonne psychological level b...Read More
Markets were mixed this morning, Wednesday June 17, while bullish sentiment continues to be fueled by government liquidity and stimulus but Covid-19 concerns and economic reality remain headwinds.Asian-Pacific equity markets were mixed this morning, but pre-market major western equity index futures were weaker. Passenger car registrations in the European Union fall by 52.3% year on year in May, Ap...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...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
An overview of the minor metals markets and the reasons for their latest price moves.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...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 Fastmarkets' pricing session in Europe on Wednesday June 17.Key driversEuropean ferro-titanium and scrap markets drop amid quiet demand, resuming losses after briefly stabilizing last week. Market sources expect to find a floor at present price levels until the third quarter when scrap arisings - which have been falling for several weeks while international lockdowns due to...Read More
At 5,500 meters above sea level, a team of four from a major Chinese zinc smelter was driving up a snowy mountain in the summer of 2018, on their way to the country's largest known zinc-lead deposit - the Huoshaoyun deposit southwest of Hotan County in the Xinjiang Uyghur Autonomous Region.But the field trip came to an abrupt end when the team was just two hours away from the site. "We...Read More
Markets were mixed again this morning, Thursday June 18; equity indices were weighing up the possible impact of second waves of Covid-19 against the supportive measures governments continue to provide and pledge. * Asian-Pacific equity markets were mainly weaker this morning, as were pre-market major western equity index futures; the exception was China’s CSI 300 Index. * Developing Asian cou...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus the June Philly Fed Index was -23.0 versus -43.1 in May. Actual was +27.5.Consensus for Weekly Jobless Claims was 1.3 million versus 1,566 last week. Actual was 1.508 million.The Bank of E...Read More