The import market for China's pig iron weakened during August 26 to September 9 in transactions for Brazilian cargoes, according to sources.Around 100,000 tonnes of basic pig iron were sold from Brazil to China on Thursday September 2 at $535-540 per tonne cfr China, sources said.Fastmarkets' fortnightly assessment for the price of pig iron, import, cfr China was at $535-540 per tonne on Thur...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. Equity index futures were virtually unchanged following release of the U.S. August Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 1.0% in July. Actual was an increase of 0.7% Excluding food and energy, consensus was an increase of 0.5% versus a ga...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
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
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
Sellers of Japanese scrap have closed deals to both Bangladesh and Vietnam at lower prices, market participants told Fastmarkets on Thursday September 9.Japan sells cargoes to Vietnam, BangladeshTaiwan containerized scrap prices steadyChina's bids edge upward amid futures gainsJapanThe September Kanto Tetsugen auction was concluded for Japanese H2 scrap on Thursday morning at an average of ?46,26...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
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
Canada-based Li-Cycle Holdings will build its fourth lithium-ion recycling facility, Spoke 4, in Tuscaloosa in the US state of Alabama, it announced on Wednesday September 8."The southeastern United States is emerging as a critical region for the lithium-ion battery supply chain, with battery manufacturers and automotive [original equipment manufacturers] establishing operations in the region," th...Read More
Domestic steel reinforcing bar prices in the United States were flat in the week to Wednesday September 8, while imported rebar prices slipped.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday, unchanged since August 11 but up by 68.38% from $29.25 per cwt at the same time last year.US marketMarket participants lar...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
Seaborne iron ore prices fell on Thursday September 9 amid inspections by authorities in Jiangsu province, which may have prompted weakness in iron ore demand, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $130.26 per tonne, down $1.93 per tonne62% Fe low-alumina fines, cfr Qingdao: $130.92 per tonne, down $2.37 per tonne58% Fe fines high-grade premium, cfr Qingdao: $104.92 p...Read More
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 the port operator told Fastmarkets on Thursday September 9.From September 7-9, around 140,000 tonnes of steel products and fertilizers were prevented from reaching customers, th...Read More
Chinese stainless steel prices in both the domestic and export markets increased sharply in the week ended Wednesday September 8 from the prior week, with tighter supply due to production cuts at domestic mills providing support.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,500-20,000 ($3,017-3,094) per tonne, up by 1,000-1,200 yuan per tonne from a week earlierA major...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
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
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
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
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
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