The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreBHP, private tender, 240,000 tonnes of...Read More
Physical iron ore prices rose on Thursday January 3 following gains in the futures and swaps markets.MB 62% Fe Iron Ore Index: $72.62 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Pilbara Blend Fines Index: $72.45 per tonne cfr Qingdao, up $0.55 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $74.12 per tonne cfr Qingdao, up $0.12 per tonne. MB 58% Fe Premium Index: $64.14 per tonne cfr Qi...Read More
Seaborne coking coal prices remain under pressure amid muted trading activity and lower offers, market sources said on Thursday January 3.A cargo of premium mid-vol coking coal in the branded segment on online trading platform Global Coal was offered at $209 per tonne fob Australia, sources said during the day. This compares with an offer of $213 per tonne fob Australia in the same segment made ju...Read More
China's hot-rolled coil prices were largely stable on Thursday January 3 on moderate trading activity, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 3,640-3,650 yuan ($530-532) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,550-3,570 yuan per tonne, widening downward by 10 yuan per tonnePrices were little changed during the day, with traders describing trading activit...Read More
Price variations between the cobalt markets in China and internationally reached all-time highs in 2018 when China reacted to rising volumes of cobalt supply from which the overseas metal markets were somewhat protected.At times, wide differentials created appealing theoretical arbitrage opportunities for Chinese exporters, but it was the sentiment and outlook of overseas buyers that ultimate...Read More
Ningxia Tianyuan, the world's largest manganese flake producer, is still not operating at its full 800,000 tonne per year capacity, sources told Fastmarkets MB. The company was expected to resume full production in December, following seven months of lower output. The company is currently operating at a reduced capacity of 1,600 tonnes per day, sources at the company said. Their full daily...Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Thursday January 3, with zinc, aluminium and lead up by between 0.4% and 0.7%, copper up by 0.1% at $5,880 per tonne, and nickel and tin lower by 0.8% and 0.2% respectively.Volume across the complex has been high with 11,375 lots traded as at 06.58am London time.Wednesday's trading saw three-month LME base metals...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price at Co 20.5% basis is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cob...Read More
China's domestic stainless steel prices held steady over the past week amid growing pessimism about the market in January.Fastmarkets MB's price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,200-14,800 yuan ($2,068-2,156) per tonne including value-added tax for the week ended Wednesday January 2, unchanged from a week earlier.Transactions were sparse ov...Read More
Import prices for stainless steel in East Asia were little changed over the past week, with trading activity yet to pick up following the year-end holiday season.Fastmarkets MB's import price assessment for 304 stainless 2mm trimmed cold-rolled coil in East Asia was $1,890-1,950 per tonne cif for the week ended Wednesday January 2, down $10 per tonne from a week earlier.Fastmarkets MB's import pri...Read More
Key data from the Wednesday January 2 pricing session in Asia. Key drivers The price of aluminium ADC 12 alloy exported to major Japanese ports (MJP) was unchanged due to market inactivity during the New Year holiday in Japan between December 29 and January...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday January 2 that are worth another look.The aluminium import arbitrage between the United States and Asia narrowed slightly in December due to the lower ocean-freight rates only partly offsetting the lower Midwest aluminium premiums.There will be a massive influx of copper scrap to China in the first half of this year, with mark...Read More
Three-month base metals prices on the London Metal Exchange were generally firmer this morning, Friday January 4, with copper, nickel, zinc and lead up by an average of 0.8% – with copper up by 1.1% at $5,840 per tonne. Aluminium and tin bucked the trend, however, to decline by 0.5% and 0.1% respectively. Volume across the complex has been high – as it has been each trading day this week...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 24 points in pre-opening trade. Index futures are responding to a 2.0% gain by the Shanghai Composite Index. During overnight trading, the Bank of China has added monetary stimulus by cutting bank reserve requirements.Index futures dipped slightly following release of the U.S. December Employment Report. Consensus for...Read More
The Section 232 tariffs implemented in the United States in 2018 led to a sharp increase in domestic steel prices, driving the hot-rolled coil index to a nearly 10-year peak in July. But how did the tariffs impact the rest of the global supply chain? Fastmarkets' regional experts gave us answers.ChinaChina has exported less hot-rolled coil since the Section 232 tariffs took effect, but soft domest...Read More
Refining charges (RCs) for blister copper have decreased for 2019 contracts on a cif China basis because of growing concerns about supplies.The majority of contractual RCs were settled within the range of $155-175 per tonne for next year, Fastmarkets has assessed. That compared with $165-180 per tonne for 2018 contracts.In December, contractual talks between Jiangxi Copper and Chambishi, which pro...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday January 2, under pressure from upward momentum in the United States dollar index although a marginal downturn in US equity markets hindered buying sentiment.In afternoon trading, the three-month price of lead fell by more than 3% to reach an intraday low of $1,942 per tonne. It had spent most of...Read More
China's manganese market was little moved in the last week of December with many market participants away for the Christmas and New Year holidays. Fastmarkets' 37% manganese ore index, fob Port Elizabeth, inched up by 6 cents to $5.62 per dry metric tonne unit (dmtu) on December 28. Fastmarkets' 37% manganese ore index, cif Tianjin, rose by 4 cents to $6.29 per dmtu, while the 44% manganese ore in...Read More
Fastmarkets has corrected its titanium scrap unprocessed turnings (over 0.5% max 2.0% Sn) price, which was published incorrectly on January 2, 2019 due to a reporter error. The price was originally published incorrectly at $0.85-9 per lb cif major European ports and has been corrected to $0.85-0.9 per lb cif major European ports.Fastmarkets' price book and database have been updated to reflect thi...Read More
Fastmarkets has changed the names of its benchmark in-warehouse Rotterdam cobalt price assessments on January 2, 2019. The name 'standard-grade' has replaced the name 'low-grade'. The name 'alloy-grade' has replaced the name 'high-grade'. These changes follow a market consultation on Fastmarkets MB's international cobalt price specifications completed in April 2018. All historical data relating to...Read More