Fastmarkets has corrected the pricing rationale for MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which was published incorrectly on Wednesday September 15 due to reporter errors.The range of offers was entered incorrectly for publication in the rationale as $24.30-24.80 per lb, and has been corrected to $24.60-24.80 per lb.One bid at $24.30 was discarded from the assessment due to...Read More
Turkish steel producers have continued their deep-sea scrap bookings for October shipments at fairly stable prices, market participants told Fastmarkets on Wednesday September 15.A steel mill in the Marmara region booked a United States cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $441.50 per tonne, 5,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $456.50 per ton...Read More
Domestic prices for heavy plate in Europe declined in the week to Wednesday September 15 due to lower slab costs, sources told Fastmarkets.Sentiment in the market remains negative despite healthy demand."Demand is still good, whereas the sentiment is a bit more negative; everybody expects price reductions and has to state approximately ?,?100 per tonne loss on prices till now," a German distributo...Read More
Following a trade of US-origin premium hard coking coal on Wednesday September 15, Fastmarkets' index for premium hard coking coal, cfr Jingtang registered its largest-ever daily increase.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $560 per tonne, up $66.83 per tonneHard coking coal, cfr Jingtang: $464.78 per tonne, up $11.91 per tonnePremium hard coking coal, fob DBCT: $358.67 per...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade.Equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for August Retail Sales is a drop of 1.0% versus a drop of 1.1% in July. Excluding auto sales, consensus for August Retail Sales is a slip of 0.1% versus a decline of 0.4% in July. Consensus for th...Read More
Domestic prices for hot-dipped galvanized coil declined across Europe in the week to Wednesday September 15 due to weaker demand from the automotive segment, sources told Fastmarkets.The European Union automotive industry is unlikely to use as many coil products as the market expected because car manufacturers are working at reduced rates due to the global shortage of semiconductor chips for onboa...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The domestic steel wire rod market in Northern Europe was quiet in the week to Wednesday September 15, with buyers expecting prices to decline in line with weakening scrap values and lower-cost imports.Producers, however, were in no hurry to drop their offer prices, sources told Fastmarkets on Wednesday.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Nort...Read More
Accurate reporting of the environmental, social and governance (ESG) performance of metals and mining companies is becoming critical in securing investment, financing and offtake agreements, according to blockchain technology platform MineHub.Metals and mining companies are under enormous pressure to improve their ESG credentials, and need to produce specific data to show that they are meeting the...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
Steel rebar prices in Southern Europe slipped again during the week to Wednesday September 15 amid slow trading activity and a downturn in scrap prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?745-775 ($880-916) per tonne on Wednesday, down by ?,?15 per tonne from ?,?760-790 per tonne last week.Ital...Read More
Spot prices for hot-rolled coil in China's domestic market extended losses on Wednesday September 15, as weak economic data and new outbreaks of Covid-19 in the country weighed on market sentiment.DomesticEastern China (Shanghai): 5,710-5,780 yuan ($887-898) per tonne, down by 40-60 yuan per tonneChina's National Bureau of Statistics released a swath of data on industrial output, retail sales, fix...Read More
Semi-finished steel imports to the Philippines, mostly made up of steel billet, fell 11.6% year on year in the first half of 2021 with demand choked by the country's ongoing struggles with Covid-19.1.23 million tonnes of material were imported to the Philippines in January-June 2021, down from 1.39 million tonnes over the first half of 2020, according to statistics compiled by the Philippines...Read More
Seaborne coking coal prices in the cfr market continued to climb on Tuesday September 14, mainly due to supply tightness, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $493.17 per tonne, up $5.84 per tonneHard coking coal, cfr Jingtang: $452.87 per tonne, up $6.31 per tonnePremium hard coking coal, fob DBCT: $358.28 per tonne, down $3.82 per tonneHard coking c...Read More
China Copper's copper concentrates procurement manager Garin Wang has recently joined Gerald Metals, Fastmarkets learned. Wang has taken up the role as senior concentrates trader of Gerald's Shanghai office, sources...Read More
Some flat steel import prices to the United Arab Emirates and Saudi Arabia fell during the week ended Tuesday September 14 so buyers held back from activity and preferred to wait for prices to flatten, sources told Fastmarkets.End-user demand was weak so buyers did not place any big orders despite their low stock levels.Saudi ArabiaChina offered HRC at $970 per tonne cfr Saudi Arabia, falling from...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 14 that are worth another look....Read More
Steel scrap consumers in the British market have won price concessions in their delivery settlements with suppliers for September, trade sources said on Tuesday September 14.The buyers used the slow export market and a consequent build-up of material to successfully argue for lower costs for their supplies this month.Steel foundries managed to negotiate a reduction of around ?10 ($14) per tonne o...Read More