Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 8. Cristina Belda and Dalila...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesJuly 22, 2021: 5 tonnes for August 2021 at $25 per lbJuly 23: 5 tonnes for September 2021 at $25.20 per lbJuly 28: 176 tonnes (88 tonnes for August at $25.04 per lb; 88 tonnes for December at $25.40 per...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and ...Read More
Domestic prices for hot-rolled coil were fairly stable across Europe on Wednesday September 8, with both buyers and sellers following a "wait-and-see" strategy, sources told Fastmarkets.Buyers have been avoiding purchases, anticipating domestic prices for coil to drop under pressure from competitive imports, lower demand from spot buyers and additional volumes that could become available for...Read More
Brazilian automotive production fell by 21.90% in August 2021 compared with the corresponding month last year due to partial or complete stoppages across the country because of the global semiconductor chip shortage, national manufacturers' association Anfavea said on Wednesday September 8.Output amounted to 164,027 units during August, down from 210,009 units a year before and the worst August nu...Read More
Turkish steelmakers went quiet in the deep-sea ferrous scrap markets once again after booking a number of cargoes for October shipment earlier this week, market participants said on Wednesday September 8.Three steel producers did book four deep-sea cargoes from various locations on Tuesday September 7. But weak demand for Turkish long steel products in the export markets has been keeping Turk...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 8.Key driversThe spot price range for ferro-titanium consolidated higher in the week to Wednesday September 8, cementing a small gain from the week prior.Suppliers reported low-key but steady buying interest from steelmakers, and there are bigger tenders to be concluded for hundreds of tonnes being delivered in the fourth...Read More
China's domestic rebar prices decreased on Wednesday September 8 after sellers lowered their offers to encourage sales following two days of weak demand.DomesticEastern China (Shanghai): 5,300-5,350 yuan ($820-828) per tonne, down by 20 yuan per tonneSellers dropped their offer prices for rebar on Wednesday morning to improves sales volumes, but buyers asked for even lower...Read More
A correction has been issued for this article. The update can be found here.Read More
The Russian government is proposing to abolish or reduce its recently-imposed export taxes on ferro-alloys - with the exception of ferro-silicon - in a surprise decision announced on Tuesday September 7. No firm date was given for the introduction of the planned changes.The Russian government introduced duties on 340 steel and non-ferrous metals outside the Eurasian Economic Union (EAEU) in June 2...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade. The European Central Bank released its interest rate decision and monetary policy statement at 7:45 AM EDT. Consensus was that its overnight lending rate to major banks would remain unchanged. Lululemon jumped $42.65 to an all-time high at $423.50 after reporting higher than consensus s...Read More
Selling prices for Japanese steel scrap remain more attractive in the Japanese local market than exporting overseas, despite a fresh price cut by Tokyo Steel, sources told Fastmarkets on Wednesday September 8.Tokyo Steel reduces scrap buy prices at key millTaiwan pays higher prices for containerized scrap amid rising logistics costs and lack of vesselsWide gaps between bids and offers persists in...Read More
The European Union is suggesting the US impose tariff-rate quotas on steel and aluminium imports in a bid to reach an agreement with the US on exempting the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel and aluminium.The then-p...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...Read More
The stainless steel scrap market in the United States seems to have cooled off slightly over this past week because demand for September was slightly weaker, but the bellwether Type 304 stainless solids price continued to increase."It feels like some of the processors are holding back on prices. It seems like there is one buyer every week chasing units [of 304 stainless scrap] and paying higher th...Read More
Domestic hot-rolled coil prices in China edged lower on Wednesday September 8; demand has not yet shown a significant improvement despite the advent of peak season.DomesticEastern China (Shanghai): 5,750-5,820 yuan ($890-901) per tonne, down by 30-50 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange climbed up after touching an intraday low of 5,674 yuan per tonne in over...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 toda...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade 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 hydroxide p...Read More
Domestic steel wire rod prices in Southern Europe slipped down in the week to Wednesday September 8, with buyers holding back from making deals, citing the availability of cheaper imports availability, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality) domestic, delivered southern Europe was ?,?820-845 ($973-1,002) per tonne on Wednesday, down by ?,?5-1...Read More