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...Read More
Aluminium's three-month price on the London Metal Exchange, backed by a constrained physical market, was just $5.50 per tonne short of its latest year-to-date high on Tuesday August 24, with nickel and zinc also climbing back above key psychological levels while most commodities and equities ticked upward.Aluminium's futures contract showed an intraday high of $2,636.50 per tonne on Tuesday, just...Read More
Sales volumes from Brazilian flat-rolled steel distributors were down by 24.01% on an annual basis in July 2021, due to clients increasing their direct purchases from steelmakers, national distributors' association Inda said on Tuesday August 24.Many clients that traditionally bought directly from mills had resorted to buying from distributors during the Covid-19 pandemic, because steelmakers were...Read More
Seaborne coking coal prices maintained their upward trend in the cfr China market amid continuous supply tightness on Tuesday August 24. The fob market increased amid stable buying interest, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $386.83 per tonne, up $5.10 per tonne Hard coking coal, cfr Jingtang: $356.68 per tonne, up $3.78 per tonne Premium hard coking...Read More
Initial offers for fourth-quarter supply of aluminium to main Japanese ports (MJP) are at a premium of $230 per tonne to the London Metal Exchange cash price, market participants told Fastmarkets on Tuesday August 24.The unconfirmed offer from this producer is 28.9% higher than the cif MJP premium for the third quarter, which settled at $172-185 per tonne.For the fourth quarter of last year,...Read More
London Metal Exchange future contracts for tin and zinc had the most prominent increases on the morning of Tuesday August 23, after a small rally on Monday in which copper, aluminium and nickel rose over 2%; cancellations in LME warehouses continued for some metals.Following a 14,475-tonne cancellation on Monday, a further 9,000 tonnes of copper were cancelled in Busan (6,575 tonnes), Singapore (2...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 24 that are worth another look....Read More
As the world's media spotlight falls on Afghanistan, Fastmarkets looks at why reported claims of incoming Chinese mining deals are unlikely to be fulfilled soon.Mes Aynak, Afghanistan's most well-known copper project, means "small copper deposit" in Pashto. Indications suggest it is anything but.The deposit holds 240 million tonnes of 2.3% grade copper ore, according to the United States Geologica...Read More
Prices for hot- and cold-rolled steel sheet and heavy plate in Russia's Central Federal District around Moscow continued to fall in the week ended Monday August 23, sources have told Fastmarkets.Hot-rolled sheet and heavy plate prices decreased by 3-5% week on week, while the drop for cold-rolled sheet prices was more pronounced at 10% week on week.Opinions varied about why this happened. One trad...Read More
Mexican ferrous scrap prices have trended lower, with more consumers applying price cuts to all grades.In recent weeks, scrap buyers announced weekly price cuts of 200 pesos ($10) per tonne, but sellers were resisting lower prices. Last week, lower prices were found to be more widespread, especially for obsolete grades. After succeeding in reducing prices for obsolete grades, buyers have been anno...Read More
Turkish steel mills continued to stay away from the deep-sea scrap import markets for the second working day of the week amid limited finished steel sales, market participants told Fastmarkets on Tuesday August 24.The most recent deep-sea trade was reported at the end of the week to August 20, when a steel mill in the Iskenderun region booked a United States cargo composed of 20,000 tonnes of HMS...Read More
The spread between prices for 65% Fe iron ore and 62% Fe products have narrowed rapidly in recent weeks due to the former weakening at a faster pace than the latter.This has resulted in a mixed long-term outlook for high-grade fines, market sources told Fastmarkets.Narrowing spreadAs hints of the central Chinese government's intention of keeping this year's output from exceeding last year's began...Read More
Seaborne coking coal prices maintained their upward trend in the cfr China market amid continuous supply tightness on Tuesday August 24. The fob market increased amid stable buying interest, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $386.83 per tonne, up $5.10 per tonne Hard coking coal, cfr Jingtang: $356.68 per tonne, up $3.78 per tonne Premium hard coking...Read More
Aluminium's three-month price on the London Metal Exchange, backed by a constrained physical market, was just $5.50 per tonne short of its latest year-to-date high on Tuesday August 24, with nickel and zinc also climbing back above key psychological levels while most commodities and equities ticked upward.Aluminium's futures contract showed an intraday high of $2,636.50 per tonne on Tuesday, just...Read More
A summary of the financial and performance results for China Molybdenum for the first half of 2021, published on Monday August 23.In briefRevenue from the company's mining and processing business totaled 84.82 billion yuan ($13.07 billion) in the first half of 2021, up by 81.45% year-on-year. Net profit was 2.41 billion...Read More
Aluminium's three-month price on the London Metal Exchange, backed by a constrained physical market, was just $5.50 per tonne short of its latest year-to-date high on Tuesday August 24, with nickel and zinc also climbing back above key psychological levels while most commodities and equities ticked upward.Aluminium's futures contract showed an intraday high of $2,636.50 per tonne on Tuesday, just...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 24 that are worth another look....Read More
The spread between prices for 65% Fe iron ore and 62% Fe products have narrowed rapidly in recent weeks due to the former weakening at a faster pace than the latter.This has resulted in a mixed long-term outlook for high-grade fines, market sources told Fastmarkets.Narrowing spreadAs hints of the central Chinese government's intention of keeping this year's output from exceeding last year's began...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard grade, in-whs Rotterdam,...Read More
Alumina prices climbed on Monday August 23 to their highest since February 1 last year, after trading sideways for most of this month.Fastmarkets' alumina index, fob Australia, was assessed at $305.00 per tonne on Monday, up from $301.32 per tonne on August 20.A deal was reported at $305 per tonne on an fob Western Australia basis earlier on Monday. But market participants were focused on the poss...Read More