Physical iron ore prices changed only slightly on Wednesday August 28, while market participants continued to wait for further news about production restrictions in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $82.45 per tonne, up by $0.10 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $82.83 per tonne, up by $0.10 per tonne.62% Fe low-alumina fines, cfr Qingdao: $81.16 per ton...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreBHP, private tender, 110,000 tonnes of 57.1% Fe Yandi fines, traded at the September average of two 62% Fe indices, adjusted...Read More
Prices for seaborne cargoes of premium hard coking coal in the fob Australia segment took a tumble on Wednesday August 28 in contrast with strengthening cfr China ones, underlining the robust demand for top-quality materials in China compared with the rest of the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, down $5.28 per tonnePremium hard coking coal, cfr Jingtang...Read More
China's domestic hot-rolled coil market shed most of its downward momentum on Wednesday August 28 on higher trading activity, though overseas buyers submitted lower bids for exports of the flat steel product.DomesticEastern China (Shanghai): 3,600-3,610 yuan ($503-504) per tonne, narrowing downward 20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, widening upward 20 yuan per...Read More
China's domestic rebar market weakened for a third day on Wednesday August 28, sending prices in the eastern region to their lowest in a year-and-a-half. Domestic Eastern China (Shanghai): 3,530-3,580 yuan ($493-500) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 10 yuan per tonneSubdued demand and a continual decline in the iron ore market pushed down...Read More
The London Metal Exchange three-month nickel price led gains during the morning session on Wednesday August 28 while the rest of the base metals complex followed a lackluster trajectory of minimal gains on slim trading volumes. The LME three-month nickel price is closing the gap on the $16,000 per tonne psychological level, trading up 1.5% to around $15,950 per tonne this morning. The nickel contr...Read More
With gold prices up at near six-year highs, markets remain nervous on Wednesday August 28 about just how much damage the United States-China trade war is doing and whether it will be reversible before it leads to a global recession. Most base metals prices have fallen to low levels and are failing to get any support while the depressed macro environment dominates. The exceptions are nickel, and to...Read More
The following Fastmarkets minor metals prices changed on Wednesday August 28:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,750-5,950 per tonne from $5,850-6,050Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,000-37,000 yuan per tonne from 36,500-37,500 yuanBismuth 99.99% Bi min, in-whs Rotterdam, $/lb:...Read More
Key data from Fastmarkets' Wednesday August 28 pricing session in Europe. Key drivers The ferro-titanium market price range widened with suppliers reporting deals done at the upper and lower end of the new price range. Suppliers reported increased buying interest, although few deals done. One major deal was reported done to a German consumer. UK producer FE Mottram has yet to restart p...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 28:Aluminium scrapClean HE9 extrusions, delivered consumer UK, ?/tonne:...Read More
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.These five currency pairs should be on your watch-list for the significant influences they could bring to bear on key global steel and ferrous scrap trade flow...Read More
Markets remain nervous on Thursday August 29, especially since the next wave of US tariff increases on Chinese goods are set to come into effect on September 1 and the US yield curve is showing the deepest inversion since 2007, with the 30-year yield falling to a historic low on Wednesday. Apart from nickel and to a lesser extent lead, most base metals prices remain in low ground, seemingly becaus...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 29 points in pre-opening trade. Index futures responded to news that China won't immediately respond to recent tariff hikes announced by the U.S.Equity index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for second estimate of second quarter real GDP was growth at a 2.0%...Read More
Aluminium premiums were mostly stable globally during the week ended Tuesday August 27, with participants shifting their focus to longer-term contract negotiations. But the recovery recently seen for Rotterdam material was spreading throughout Europe. Rotterdam uptrend pushing European premiums upMain Japanese port (MJP) premium flat; focus goes to quarterly contractsPremium in United States' Midw...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 27.Please click...Read More
The London Metal Exchange cash/three-month nickel spread was trading in a $79 per tonne backwardation at the close on Tuesday August 27, its narrowest since July 2007 when it traded in a backwardation of $199 per tonne. Historically trading in a healthy contango, nickel's forward curve has recently become prone to pockets of tightness, attributed mostly to technical trading activity. It most recen...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 27 that are worth another look.The whole battery supply chain will benefit from lithium benchmark pricing, according to Fastmarkets head of battery raw materials research William Adams. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles into their portfolios...Read More
Chinese vanadium exporters continued to reduce their offer prices due to lackluster overseas buying interest in the week ended Friday August 23, while European and US markets reported thin trading amid summer mill outages. Chinese exporters reduce offers amid limited buying interest abroad. European ferro-vanadium market faces thin trading. Vanadium pentoxide suppliers in Europe raise...Read More
Chinese domestic ferro-chrome spot price held steady over the past week, with suppliers holding quotations firm ahead of the release of September's tender prices, which are expected to rise. Meanwhile, both UG2 chrome ore and charge chrome indices ticked up on improved spot activity. Domestic Chinese alloy price holds in China ahead of September tenderChrome ore price reboundsImported alloy price...Read More
Turkish steel producers have continued to book deep-sea scrap cargoes for September deliveries, taking advantage of falling prices, sources said on Tuesday August 27.A steel mill in the Marmara region booked a 42,000-tonne US cargo, comprising HMS 1&2 (80:20) at $270 per tonne and shredded at $275 per tonne cfr.Another steel mill in the Marmara region booked a UK cargo, comprising HMS 1&2 (80:20)...Read More