Demand for steel rebar and billet remained limited in the United Arab Emirates in the week to Tuesday August 17, with prices already falling and some market participants expecting them to drop even further, sources told Fastmarkets.The lower prices for billet and rebar imports are expected to have a knock-on effect on the domestic market, where prices are also expected to decline because of weak d...Read More
Seaborne coking coal prices in both the cfr China and fob Australia markets remained largely stable on thin trading on Tuesday August 17, with most buyers cautious about accepting high offers, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $351.82 per tonne, up $1.16 per tonne Hard coking coal, cfr Jingtang: $305.61 per tonne, up $0.60 per tonne Premi...Read More
Demand for steel rebar and billet remained limited in the United Arab Emirates in the week to Tuesday August 17, with prices already falling and some market participants expecting them to drop even further, sources told Fastmarkets.The lower prices for billet and rebar imports are expected to have a knock-on effect on the domestic market, where prices are also expected to decline because of weak d...Read More
Seaborne iron ore prices fell on Tuesday August 17, with crude steel production cuts in China leading to thin trading and depressing market sentiment.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $160.75 per tonne, down $2.77 per tonne62% Fe low-alumina fines, cfr Qingdao: $161.65 per tonne, down $2.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $129.54 per t...Read More
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
The three-month aluminium price on the London Metal Exchange registered gains on the morning of Tuesday August 17 while the front-month contract on the Shanghai Futures Exchange also rose to new highs amid supply disruptions to the flow of metals and raw materials.Three-month aluminum was at $2,632 per tonne at 9am on Tuesday, up by $30 per tonne from Monday's closing price of $2,602 per tonne. Th...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
South Korean lithium-ion battery manufacturer LG Energy Solution (LGES) has entered into an offtake agreement with Australian Mines Ltd for battery-grade nickel and cobalt materials produced by the latter.Under the agreement, the Korean company will have access to 71,000 tonnes of nickel and 7,000 tonnes of cobalt in the form of mixed hydroxide precipitate for six years starting from the end of 20...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow narrowed upward by 2,000 roubles ($27) per tonne in the seven days to Monday August 16.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 66,000 roubles ($900) per tonne including 20% value-added tax on August 16.This price narrowed upward from 64,000-66,000 roubles pe...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Turkish steel producers are continuing with deep-sea scrap purchases for September shipment, but at a slow pace, market participants told Fastmarkets on Tuesday August 17.A steel mill in the Izmir region booked a Venezuelan cargo consisting of 25,000 tonnes of HMS 1&2 (80:20) at $449 per tonne cfr late on Monday August 16.The cargo was scheduled to be shipped in the second half...Read More
Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.But buyers preferred to make small bookin...Read More
A spike in the US Dollar Index in the afternoon of Tuesday August 17 brought down the prices for all base metals except tin and lead by the 5pm close of trading on the London Metal Exchange, with copper and nickel down respectively by 2% and 1.6%.The dollar index hit an intraday high of 93.14 on Tuesday, the highest since Thursday last week, when it reached 93.19."We've had two days of macro uncer...Read More
Robust domestic prices in the Japanese steel scrap market were keeping prices for material from the East Asian country strong despite tepid demand from major importers, sources told Fastmarkets on Tuesday August 17.Japanese local scrap prices remain firmBuying interest for imported HS limited in ChinaTaiwan scrap import prices inch higher amid strong offers.JapanContinued robust demand in Japan's...Read More
Seaborne coking coal prices in both the cfr China and fob Australia markets remained largely stable on thin trading on Tuesday August 17, with most buyers cautious about accepting high offers, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $351.82 per tonne, up $1.16 per tonne Hard coking coal, cfr Jingtang: $305.61 per tonne, up $0.60 per tonne Premi...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.Index futures were virtually unchanged following release of July U.S. Housing Starts at 8:30 AM EDT. Consensus was a slip to 1.608 million units from1.643 million units in June. Actual was a drop to 1.534 million units.The Canadian Dollar added 0.12 at US79.37 cents following release of C...Read More
Prices for hot-rolled and cold-rolled steel coil imports into the United Arab Emirates and Saudi Arabia increased during the week ended Tuesday August 17, although demand was only moderate, sources told Fastmarkets.The reason for this level of demand, given the slow market last week, was the low levels of stock being held in the two countries, sources said.But buyers preferred to make small bookin...Read More
US-listed lithium producer Albemarle is in formal negotiations with the Albemarle Salar Workers Union in an attempt to end their strike, the company's spokesperson has told Fastmarkets.The strike by members of the trade union at the Salar de Atacama lithium facility in the north of Chile started on Wednesday August 11 and was still continuing this week.FESUMIN, a Chilean federation of miners who w...Read More
Hot-rolled coil prices in the United States again tested the $96-per-hundredweight ($1,920-per-short-ton) level after the latest spot deals indicated that producers still have the upper hand on transaction pricing for September and October shipment. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.87 per cwt ($1,917.40 per ton) on Tuesday August 17, up by 0.84% fro...Read More
Robust domestic prices in the Japanese steel scrap market were keeping prices for material from the East Asian country strong despite tepid demand from major importers, sources told Fastmarkets on Tuesday August 17.Japanese local scrap prices remain firmBuying interest for imported HS limited in ChinaTaiwan scrap import prices inch higher amid strong offers.JapanContinued robust demand in Japan's...Read More