Here are five Fastmarkets stories you might have missed on Monday August 30 that are worth another look.Spot prices for steel rebar imports into Singapore continued their downward trend in the week to August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.Read More
Seaborne iron ore prices decreased on Monday August 30 due to China's potentially stricter steel production cuts by the end of November, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $156.66 per tonne, down by $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.19 per tonne, down $0.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $125.81 per tonne, down $0.69...Read More
Seaborne coking coal prices increased on Monday August 30, largely due to tight supply, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $414.55 per tonne, up by $6.04 per tonneHard coking coal, cfr Jingtang: $390.21 per tonne, up by $4.54 per tonnePremium hard coking coal, fob DBCT: $251.25 per tonne,up $2.35 per tonneHard coking coal, fob DBCT: $210.73...Read More
Hot-rolled coil (HRC) prices in China's domestic market rose sharply on Monday August 30; news of production curbs raised futures prices to their highest in more than a week.DomesticEastern China (Shanghai): 5,720-5,750 yuan ($884-888) per tonne, up by 70-120 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,654 yuan per tonne in early afte...Read More
Silico-manganese futures prices in China surged on Monday August 30 after market sentiment was bolstered by expected supply disruptions in Guangxi province, one of the main manganese alloy production regions in the country. The government of China's Guangxi province is poised to crack down on the "blind development" of its high energy-consuming and high-pollution (Two High) projects to ensure comp...Read More
The magnesium branch of China Nonferrous Metals Industry Association (CNIA) published a proposal on August 27 calling for the healthy development of the magnesium industry. This came amid surging metal prices.Fastmarkets' weekly price assessment for magnesium, 99.9%, exw China, was 25,000-26,000 yuan ($3,862-4,017) per tonne on Friday August 27, an increase of 2,800-3,600 yuan per tonne or 14.3% f...Read More
China's nickel sulfate price slid from its all-time high amid active spot trading in the week to Friday August 27, with easing raw material tightness and volatile nickel prices on the London Metal Exchange said to have driven the decrease.Fastmarkets assessed the price for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China, at 36,500-38,000 yuan ($5,639-5,871) per tonne on August 27, d...Read More
Hot-rolled coil prices in the United States have slipped below $97 per hundredweight ($1,940 per short ton), with market sentiment mixed on whether the price has peaked.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.93 per hundredweight ($1,938.60 per ton) on Monday August 30. It was down by 0.13% from $97.06 per cwt on Friday August 27, but up by 0.37% from $96....Read More
Hot-rolled coil (HRC) prices in China's domestic market rose sharply on Monday August 30; news of production curbs raised futures prices to their highest in more than a week.DomesticEastern China (Shanghai): 5,720-5,750 yuan ($884-888) per tonne, up by 70-120 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange hit an intraday high of 5,654 yuan per tonne in early afte...Read More
Spot prices for steel rebar imports into Singapore continued their downward trend in the week to Monday August 30 amid growing pressure on traders to slash offers due to unsold seaborne cargoes fast approaching the island state.A trader had cut his offers for Indian rebar to $725-730 per tonne cfr Singapore on a theoretical weight basis. Market sources said buyers remained silent due to the presen...Read More
China's domestic rebar prices increased on Monday August 30 supported by stronger demand and futures gains.DomesticEastern China (Shanghai): 5,230-5,260 yuan ($809-813) per tonne, up by 100 yuan per tonneThe weather has been favorable for construction work in Eastern China over the past few days, leading to stronger demand for rebar in the region.Rebar...Read More
Seaborne iron ore prices decreased on Monday August 30 due to China's potentially stricter steel production cuts by the end of November, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $156.66 per tonne, down by $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.19 per tonne, down $0.65 per tonne58% Fe fines high-grade premium, cfr Qingdao: $125.81 per tonne, down $0.69...Read More
Seaborne coking coal prices increased on Monday August 30, largely due to tight supply, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $414.55 per tonne, up by $6.04 per tonneHard coking coal, cfr Jingtang: $390.21 per tonne, up by $4.54 per tonnePremium hard coking coal, fob DBCT: $251.25 per tonne,up $2.35 per tonneHard coking coal, fob DBCT: $210.73...Read More
In the latest move by Chinese authorities to diversify the country's iron ore supply sources, the Ministry of Natural Resources has stated its support for the development of domestic iron ore reserves.Responding to a proposal made by a member of the People's Political Consultative Conference during the "Twin Sessions" meeting in Beijing in March, the Ministry of Natural Resources announced on Augu...Read More
Prices for seaborne iron ore concentrate and pellet fell in the week ended Friday August 27 amid thin liquidity driven by weak demand, market sources said.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $34.30 per tonne, down $0.20 per tonne66% Fe concentrate, cfr Qingdao: $165.97 per tonne, down $4.02 per tonne65% Fe blast furnace pellet, cfr Qingdao: $198.14 per tonne, d...Read More
Base metals prices on the London Metal Exchange were mainly firmer on the morning of Tuesday August 31, while those on the Shanghai Futures Exchange were more mixed.This comes despite the release of some weaker than expected Chinese manufacturing numbers. The US Dollar Index was, however, weaker.* China’s manufacturing purchasing managers index (PMI) fell to 50.1 in August, after registering...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.The Canadian Dollar slipped 0.10 to U.S.79.40 cents following release of Canada's June GDP report at 8:30 AM EDT. Consensus was a gain of 0.7%. Actual was an increase of 0.7%.Zoom dropped $52.11 to $305.35 after announcing lower than consensus second quarter revenue growth. Target price o...Read More
Here are five Fastmarkets stories you might have missed on Friday August 27 that are worth another look.Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has cancelled an agreement to sell a 55% stake to Alianza Minero Metal??rgica Internacional, the company said in a filing with the country's stock exchange,...Read More
Here are five Fastmarkets stories you might have missed on Friday August 27 that are worth another look.Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has cancelled an agreement to sell a 55% stake to Alianza Minero Metal??rgica Internacional, the company said in a filing with the country's stock exchange,...Read More
Here are five Fastmarkets stories you might have missed on Friday August 27 that are worth another look.Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) has cancelled an agreement to sell a 55% stake to Alianza Minero Metal??rgica Internacional, the company said in a filing with the country's stock exchange,...Read More