Iron ore prices across the board drop on Friday August 13 due to continued thin liquidity in the seaborne market, with one market participant describing the outlook as "grim."Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.07 per tonne, down $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.74 per tonne, down $0.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.6...Read More
The union at Escondida and BHP, the Chilean copper mine's majority shareholder and operator, have agreed to extend wage negotiations until Friday August 13, so a deal can be signed and a strike averted.The new labor contract has been accepted by the No1 Workers Union and ratified by its members and just needs to be signed, the miner said on Thursday.Members of the union, which represents workers a...Read More
The domestic price for steel rebar in Brazil - which had not moved in three months - fell on Friday August 13 amid mill discounts, confirming lingering signs of a downturn.In Brazil, rebar supply recovered in 2021, and scrap prices started being cut. The global scenario lent headwinds to the Brazilian rebar price, with a downturn seen particularly in Turkey.Brazil-based steelmakers often follow in...Read More
The import pig iron market in the United States was soft and calm during the week ended Friday August 13 due to oversupply, sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $585-595 per tonne on Friday, narrowing downward from $585-600 per tonne cfr a week before.No new deals were...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 13.Susan Zou, Yingchi Yang and...Read More
Treatment charges for zinc concentrates have widened in the first half of August, with the market seeing minimal spot business ahead of what was expected to be large-scale buying from Chinese smelters later in the year.Fastmarkets' assessment of the zinc spot concentrate TC, cif China, widened downward to $75-90 per tonne on Friday August 13, from $78-90 per tonne two weeks earlier. After years of...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...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 assessed...Read More
Australia-listed lithium miners Orocobre and Galaxy have gained the shareholders' and court approvals that were necessary for their proposed merger, the companies announced on Friday August 13.On August 6, Galaxy's shareholders voted in favor of the deal, and on August 13 the Supreme Court of Western Australia made orders approving the proposed merger, the companies said.According to the merger sc...Read More
Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More
Chinese automobile production and sales figures continued to fall in July 2021, on both a monthly and an annual basis, although figures for vehicle exports and new energy vehicles hit record highs, the China Association of Automobile Manufacturers (CAAM) has said.Carmakers in China produced 1.86 million units in July, down by 4.1% month on month and by 15.5% year-on-year. Sales came to 1.86 millio...Read More
Chinese automobile production and sales figures continued to fall in July 2021, on both a monthly and an annual basis, although figures for vehicle exports and new energy vehicles hit record highs, the China Association of Automobile Manufacturers (CAAM) has said.Carmakers in China produced 1.86 million units in July, down by 4.1% month on month and by 15.5% year-on-year. Sales came to 1.86 millio...Read More
Global ferrous scrap prices have continued to fall in the week to August 13 due to high freight rates, Covid-19 outbreaks in importing countries and poor downstream steel demand.Turkish scrap prices fell amid weak downstream demandUnited States scrap exports were poor due to high freight costsWeak demand for imports in Vietnam due to Covid-19China abstains from purchasing due to large bid-offer sp...Read More
Iron ore prices across the board drop on Friday August 13 due to continued thin liquidity in the seaborne market, with one market participant describing the outlook as "grim."Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $162.07 per tonne, down $0.89 per tonne62% Fe low-alumina fines, cfr Qingdao: $162.74 per tonne, down $0.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $130.6...Read More
The domestic market for steel wire rod in Poland remained quiet in the week to Friday August 13, with trading activity subdued and prices broadly flat, sources told Fastmarkets on Friday.Even though trading was seasonally softer over the past week, steel wire rod prices in Poland were seen as largely unchanged, Fastmarkets heard."Trading is weaker compared to July, but there is no relief for price...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday August 13.China The ferro-silicon price in China strengthened week on week amid generally positive sentiment, with overall supply failing to meet demand due to electricity cuts in many provinces. In addition, the rising ferro-silicon futures, coupled with the elevated Chinese price for magnesium - the...Read More
Demand for cargoes of steel billet has been low in key Southeast Asian markets over the past week with prices rangebound, sources told Fastmarkets on Friday August 13."The Southeast Asian markets are dead, there are no bids from Thailand, which has now become a billet exporter, and there is a very strict lockdown in the Philippines," a South Asian billet trader said."Philippine demand is in really...Read More
The price of shredded steel scrap into Pakistan and India diverged on Friday August 13 with Pakistan reporting restocking behaviour while demand in India remained low, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $532.37 per tonne on Friday, up from $530.64 per tonne one week earlier.Deal prices increased durin...Read More
Seaborne coking coal prices trended higher in the cfr China market following a strong domestic coking coal market and fell slightly in the fob market on Friday August 13 with market participants adopting a wait-and-see attitude.Prices for seaborne pulverized coal injection (PCI) increased in the cfr China market in the week to August 13 based on good restocking demand from end users and rose sligh...Read More
Base metals prices on the London Metal Exchange were trading mostly higher at the close on Friday August 13, with copper, aluminium and lead all making gains.The three-month aluminium price closed at $2,600 per tonne, up from $2,582.50 per tonne. This was the first time it has closed above $2,600 per tonne since August 2.The price hit an intraday trading high of $2,622.50 per tonne, also the highe...Read More