Coking coal prices in the fob market jumped on Monday September 13 due to tight supply; domestic coking coal supply in China was also tight, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $487.33 per tonne, up $6.68 per tonneHard coking coal, cfr Jingtang: $446.56 per tonne, up $2.52 per tonnePremium hard coking coal, fob DBCT: $362.10 per tonne, up $28.98 per...Read More
Base metals prices were mixed on both the LME and the SHFE this morning, Monday September 13. But while the mood in broader markets remains somewhat negative, the base metals seem to be entering the post-summer period in a more bullish mood. There is a barrage of key Chinese economic data out this week, which the market is likely to watch closely for signs that the Chinese economy is slowingBase m...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Coking coal prices in the fob market jumped on Monday September 13 due to tight supply; domestic coking coal supply in China was also tight, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $487.33 per tonne, up $6.68 per tonneHard coking coal, cfr Jingtang: $446.56 per tonne, up $2.52 per tonnePremium hard coking coal, fob DBCT: $362.10 per tonne, up $28.98 per...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
Flat steel prices in the Brazilian domestic market remained stable in September, with distributors facing a slow pace of sales and competition from imported material booked several months ago.Steelmakers were not giving any discounts from their prices despite a lower level of sales, because international prices for steel were still seen to be strong.Fastmarkets' monthly price assessment for steel...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Seaborne iron ore prices inched down on Monday September 13 due to weak buying interest from end users, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.84 per tonne, down $5.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, down $6.09 per tonne58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, down $6.13 per tonne65% Fe Br...Read More
The recovery of the Brazilian domestic flat steel market appears to have peaked in recent weeks, but it is expected to continue strong through 2022, according to ArcelorMittal Brasil chief executive officer Benjamin Baptista Filho."We saw since last year a very strong recovery of the Brazilian manufacturing activity, especially from the agribusiness sector, and demand for steel rose in a sustained...Read More
China's leading copper producer, Jiangxi Copper, will develop the Mes Aynak copper mine in Afghanistan with Metallurgical Corp of China (MCC) when conditions allow, the company said.Due to the unstable situation in Afghanistan, there has not yet been any substantial construction at the mine, but the two companies are monitoring the situation and will push forward with the project when they...Read More
China's leading copper producer, Jiangxi Copper, will develop the Mes Aynak copper mine in Afghanistan with Metallurgical Corp of China (MCC) when conditions allow, the company said.Due to the unstable situation in Afghanistan, there has not yet been any substantial construction at the mine, but the two companies are monitoring the situation and will push forward with the project when they...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
China's production and sales of automobiles continued to decline on both a monthly and an annual basis in August 2021, after Covid-19 outbreaks choked the supply chain and cost pressure ramped up, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Friday September 10.For the same month, overall car exports, output and sales figures for new energy vehic...Read More
Major Japanese carmaker Toyota is cutting production by another 400,000 units globally in September and October due to a "shortage of certain parts" caused by Covid-19 in Southeast Asia, it said last Friday September 10.The cut includes 70,000 units in September, of which 40,000 units are overseas and 30,000 units are in Japan.In October, it will reduce production by 330,000 units - 150,000 units...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
Seaborne iron ore prices inched down on Monday September 13 due to weak buying interest from end users, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.84 per tonne, down $5.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, down $6.09 per tonne58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, down $6.13 per tonne65% Fe Br...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
Chilean copper miner Codelco's management and the Sindicato de Uni??n Plantas (Suplant) trade union reached a new collective wage agreement on Friday September 10, which should end a strike that has lasted for three-and-a-half weeks.The Suplant union, which represents employees at the company's Andina concentrator plant, rejected the last offer that came within the standard negotiation period and...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...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