Seaborne coking coal prices were unchanged on Monday February 10, with the market having a quiet start after the weekend following last week's activity that saw over 650,000 tonnes of spot cargoes changing hands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $151.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $160.61 per tonne, unchangedHard coking coal, fob DBCT: $127.01 p...Read More
Spot prices in the Singapore rebar import market continued to weaken over the past week on lower raw materials prices in the ferrous scrap markets and bearish sentiment caused by the outbreak of the coronavirus.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $430-440...Read More
Demand for seaborne iron ore concentrate and pellets fell last week amid a stagnant steel market in China due to the outbreak of the novel coronavirus (2019-nCoV) in the country.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $99.07 per tonne last Friday February 7, down by $3.54 per tonne from a week earlier.The daily Fastmarkets index for iron ore 65...Read More
China's hot-rolled coil producers lowered their prices on Monday February 10 amid rising inventories resulting from a delayed resumption of business in downstream sectors and prolonged logistical hurdles.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($500-503) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,200-3,220 yuan per tonne, down 50 yuan per tonneA Shanghai-based trad...Read More
China's domestic rebar prices were mixed on Monday February 10, with those in the eastern region holding steady while the northern Chinese market tumbled on weak demand.Eastern China (Shanghai): 3,360-3,400 yuan ($481-487) per tonne, unchangedNorthern China (Beijing): 3,460-3,480 yuan per tonne, down 80 yuan per tonneAfter an extended break implemented by local authorities to contain the spread of...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday February 8.Key driversChina Fastmarkets' assessment of the price of antimony, MMTA standard grade II, ddp China was unmoved following a lack of liquidity and absent market participants after the Chinese New Year holiday break was extended (January 24-February 2). Many suppliers stayed out of the market in the week to Febru...Read More
Minor metals producer Vital Materials has acquired specialty chemicals company Lanxess' organometallics business, Vital said on Friday February 7. The plant located in Pyeongtaek, South Korea, produces high-purity gallium, indium and aluminium-based metalorganic sources including trimethylgallium, trimethylaluminum, triethylgallium and trimethylindium. The organometallics are used for the manufact...Read More
Swiss miner-trader Glencore has signed a five-year deal - from 2020 until 2024 - to supply South Korean battery manufacturer Samsung SDI with 21,000 tonnes of cobalt contained in hydroxide, Glencore said on February 10.Glencore produces cobalt hydroxide at its Katanga mine in the Democratic Republic of Congo (DRC) - slated to produce about 29,000 tonnes of cobalt in intermediates this year. Glenco...Read More
The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.There is still much uncertainty around the impact of the Wuhan coronavirus (2019-nCoV), but with more businesses returning to work in China this week, we might get a better feel for...Read More
Xiamen Xiangyu Group and Jiangsu Delong Nickel Industry Co's Indonesian stainless steel joint venture last week began hot tests on production facilities with the capacity to produce grade-304 stainless steel billet at a rate of 600,000 tonnes per year. The company, which is officially known as PT Obsidian Stainless Steel,...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.Prices in Southeast Asia's steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare ear...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.Prices in Southeast Asia's steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare ear...Read More
Here are five Fastmarkets MB stories you might have missed on Friday February 7 that are worth another look.Prices in Southeast Asia's steel billet market have tumbled last week amid speculation that Chinese billet importers could annul contracts on the grounds of virus-related force majeure.China has halved tariffs on a slew of US-sourced metals and minerals including copper cathodes and rare ear...Read More
The broader markets were mixed on the morning of Monday February 10, with equities in Asia generally weaker, as were metals on the Shanghai Futures Exchange, while the London Metal Exchange was firmer across the board.China’s CSI 300 is up by 0.21%, while other Asian equity indices are lower. Gold prices are edging higher again.There is still much uncertainty around the impact of the Wuh...Read More
U.S. equity index futures were slightly lower this morning. S&P 500 futures were down 2 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US75.11 cents following release of January Canadian Housing Starts at 8:15 AM EST. Consensus was an increase to 202,000 from 197,300 units. Actual was 213,200.Restaurant Brands International gained $4.14 to US$68.00 after reporting...Read More
The aluminium billet premium in Germany has risen for the first time in more than a year, with participants starting to see more bullish sentiment for the second quarter of 2020.Higher P1020 premiums, a slightly less bearish macroeconomic outlook in Europe and higher consumer demand helped boost the premium."The demand is good. There are consumers that didn't buy a single tonne in the last quarter...Read More
Outokumpu chief executive officer and president Roeland Baan will step down in May, the Finnish stainless steelmaker said on Friday February 7.He will continue in his role as the company's ceo until May 15, 2020. His successor has not yet been named by the company.Baan joined Outokumpu in January 2016....Read More
Market participants in the Philippines do not expect the domestic long steel market to face shortages, despite the country's Department of Trade and Industry (DTI) suspending six steelmakers' Philippine Standard (PS) licenses.Products from the six mills failed to meet the requirements listed in the Philippine National Standard (PNS) 49, Series of 2002, during a test the DTI's Bureau of Philippine...Read More
The aluminium billet premium in Germany has risen for the first time in more than a year, with participants starting to see more bullish sentiment for the second quarter of 2020.Higher P1020 premiums, a slightly less bearish macroeconomic outlook in Europe and higher consumer demand helped boost the premium."The demand is good. There are consumers that didn't buy a single tonne in the last quarter...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebarEast China, domestic, grade III 16-25mm...Read More