A summary of BHP's financial results for the year ended June 30, as published on Tuesday August 17. Record free cash flow of $19.4 billion generated during 2021 financial year.Return on capital employed strengthened to 32.5%. Net debt at $4.1 billion on June 30. Final dividend of $2 per share, which brought BHP's returns to shareholders...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
Prices of hot-rolled coil in China's domestic market dropped to their lowest in about two weeks on Wednesday August 18 after market sentiment was subdued by dismal economic data released earlier in the week.DomesticEastern China (Shanghai): 5,690-5,710 yuan ($878-881) per tonne, down by 70-90 yuan per tonneThe HRC contract for January delivery has become the most-traded HRC contract on the Shangha...Read More
The steel rebar market in Southern Europe remained quiet, with prices flat, in the week to Wednesday August 18, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was unchanged at ?,?760-805 ($893-945) per tonne on August 18.Trading in Italy and Spain was seasonally low, with buyers and mills holding back from the ma...Read More
July imports of steel scrap to South Korea increased both on a month-on-month and year-on-year basis following another strong month in June, according to data from the Korea International Trade Association.Steel scrap imports were 462,729 tonnes in July, up 11.9% month on month from June's 413,567 tonnes and up by 49% year on year from 310,620 tonnes in July 2020.But a comparatively sluggish start...Read More
The prices of steel hollow sections in Europe remained unchanged on Wednesday August 18 with the market still going through its seasonal slow spell, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,400-1,430 ($1,644-1,679) per tonne on Wednesday, unchanged week on week.There was almost no trading in the market wh...Read More
Seaborne coking coal prices rose sharply in the cfr China market on Wednesday August 18 due to stable procurement demand and supply tightness. The fob Australia market also inched up on the same day with more buying interest for premium low-volatility hard coking coal, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $225.48 per tonne, up by $3.06 per tonneHard cokin...Read More
The United States remained the bright spot for the physical trading of lead in the week to Wednesday August 18 amid a massive backwardation, while appetite for zinc was weak in Europe and China, Fastmarkets has heard.Wide backwardation in lead spread reduces spot trading interest in Asia, USLondon Metal Exchange lead inventory at low level, while Shanghai Futures Exchange lead inventory runs highP...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 36 points in pre-opening trade.Equity index futures were waiting for release of the August Philly Fed Index at 8:30 AM EDT. Consensus is an increase to 28.0 from 21.9 in July.Cisco slipped $0.65 to $54.50 despite reporting higher than consensus second quarter revenues and earnings. Nvidia added $4.18 to $194.58 after...Read More
Trading activity was close to zero in the European hot-rolled coil markets on Wednesday August 18, with buyers having mixed outlooks for September, when demand was expected to recover, sources have told Fastmarkets.Most of the region's buyers and producers have been holding back from trading so far during August, following traditional patterns of activity.Northern European buyers were already slow...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More
Iron ore prices fell on Wednesday August 18 amid growing concerns about supply outweighing demand and weaker steel prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $153.39 per tonne, down $7.36 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.07 per tonne, down $7.58 per tonne58% Fe fines high-grade premium, cfr Qingdao: $123.48 per tonne, down $6.06 per tonne65% Fe...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
The United States Department of Commerce ordered a final anti-dumping duty rate on sales of certain steel and alloy wire rod from Mexico shipped to US that were made at a less-than-normal value from October 1, 2018 through September 30, 2019, according to a notice in the Federal Register on Wednesday August 18.The order is a result of the agency's investigation into wire rod shipments to the US fr...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton in August to a record high set in 2008, while imports slipped from a record high. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $56-59 per hundredweight ($1,120-1,180 per short ton) on Tuesday August 17, up by 2.68% from $55-57 per cwt on July 20, and up by 6.48% fro...Read More
Prices for hot- and cold-rolled steel sheet and heavy plate in Russia's Central Federal District around Moscow continued to slide in the week ended Monday August 16, sources have told Fastmarkets.Market participants believed that the downward trend would continue until the end of October.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia,...Read More
A six-week price rally in the UG2 chrome ore market since late June was reversed in the week to Tuesday August 17, mainly due to falling demand for material from both the seaborne and portside markets.Fastmarkets' calculation of the chrome ore, South Africa UG2 concentrates index, basis 42%, cif China, nudged down by $2 per tonne to $182 per tonne on August 17, from $184 per tonne one week earlier...Read More
Export prices for CIS-origin steel billet from the Black Sea basin continued to decrease in the week to Wednesday August 18 amid bearish sentiment in the major outlet markets.After concluding several sales to customers in Latin America late last week, mills in the Commonwealth of Independent States had covered the demand in this market, which appeared to be the highest-paying at the moment.Other m...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 18 that are worth another look.The chief executive officer of steel group Techint, Paolo Rocca, was acquitted of all charges in the "notebooks case," an investigation in Argentina into alleged payments made by the company to government officials in 2008.Read More