The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 23.85-24.60 on Thursday September 09, 2021....Read More
Demand for steel billet and rebar was low in Egypt because buyers expected prices to decrease, sources told Fastmarkets on Thursday September 9.Rebar prices have decreased recently in many global markets, in line with falling scrap prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $660-670 per tonne on September 9, compared with $665-6...Read More
Road blockades throughout Brazil have disrupted transportation on important routes in five different states, with access to main steel trade hub, S??o Francisco do Sul port, cut off by truckers' demonstrations, Fastmarkets learned on Thursday September 9.The port of S??o Francisco do Sul, in Brazil's southern state of Santa Catarina, had to stop unloading ships on Wednesday September 8, two source...Read More
Base metals prices were higher on the London Metal Exchange but mixed on the Shanghai Futures Exchange this morning, Thursday September 9, but equity markets in Asia-Pacific were weaker with participants once again nervous about possible central bank tapering. Market participants focused on whether the European Central Bank (ECB) will signal it is ready to start tapering - the ECB meets today Bet...Read More
Traditional relationships between prime steel scrap and lower-grade material in key Asian markets have shattered over recent months, market sources told Fastmarkets in early September 2021.Busheling scrap - which is known as Shindachi in Japan - is a prime scrap grade generated from offcuts from the making of steel sheet-intensive products such as vehicles and white goods. Reduced output at leadin...Read More
Chinese cobalt tetroxide prices moved up on improved demand from downstream consumers in the first half of this week, with most producers raising their offers, sources told Fastmarkets on Wednesday September 8.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China narrowed up to 275,000-285,000 yuan ($42,568-44,116) per tonne on September 8, from 270,000-285,000 yuan per...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Turkish steelmakers remained silent in the deep-sea scrap import market, due to only achieving limited finished long steel sales, sources told Fastmarkets on Thursday September 9.The most recent trades were heard on Tuesday, when three steel producers booked four deep-sea cargoes from various locations at between $435 and $445 per tonne cfr on HMS 1&2 (80:20) basis.However, the mills went quiet on...Read More
Chinese cobalt tetroxide prices moved up on improved demand from downstream consumers in the first half of this week, with most producers raising their offers, sources told Fastmarkets on Wednesday September 8.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China narrowed up to 275,000-285,000 yuan ($42,568-44,116) per tonne on September 8, from 270,000-285,000 yuan per...Read More
Base metals prices were higher on both the LME and the SHFE this morning, Friday September 10, with the broader markets also up. Additionally, metals that were previously looking vulnerable now look less vulnerable, suggesting traders are still comfortable being exposed to the metals.* United States president Joe Biden and China's leader Xi Jinping are meeting in an effort to improve relations* Th...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
A major copper industry group in Chile has presented an alternative tax reform plan to the government, amid an ongoing legislative process to tap into revenues and retain mining-related capital from the Latin American country's inland given the red metal's price recent rally. On August 31, the Chilean Center for Copper and Mining Studies (Cesco), delivered its own proposal to the Chilean Sena...Read More
China's domestic rebar prices increased sharply on Thursday September 9 after the news that Jiangsu will restrict steel production in the remaining months of this year.DomesticEastern China (Shanghai): 5,410-5,440 yuan ($837-842) per tonne, up by 90-110 yuan per tonne.Jiangsu province will be conducting decarbonization compliance inspections of local enterprises with high energy consumption and em...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Hot-rolled coil prices in the United States returned above $97 per hundredweight ($1,940 per short ton), with market participants projecting that upcoming mill maintenance shutdowns will keep inventories tight.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $97.11 per cwt ($1,942.20 per ton) on Thursday September 9, up by 21 cents (0.22%) from $96.90 per cwt on Wednes...Read More
Demand for steel billet and rebar was low in Egypt because buyers expected prices to decrease, sources told Fastmarkets on Thursday September 9.Rebar prices have decreased recently in many global markets, in line with falling scrap prices.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $660-670 per tonne on September 9, compared with $665-6...Read More
CIS steel billet export prices remained firm on Thursday September 9, supported by surging demand in China, sources told Fastmarkets.Chinese interest in imported billet increased over the past week, along with indications of workable prices from customers, on the expectation that further domestic production cuts will be imposed in China at the start of next year.And CIS billet producers were looki...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More