U.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. Index futures were virtually unchanged following release of the June Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 2.2% versus a gain of 2.3% in May. Actual was an increase of 0.08% . Excluding transportation orders, consensus was an increase of 0.8% versus a...Read More
A summary of China's battery raw materials exports for June 2021.In brief Exports of cobalt tetroxide increased both month on month and year on year in June amid rising buying appetite from South Korea, the Netherlands and Belgium.Lithium carbonate exports fell slightly on a monthly...Read More
China's leading stainless steel producer, Tsingshan Group, has set its tender price for August-delivery ferro-chrome at 10,795 yuan ($1,665) per tonne, the company announced on Monday July 26. This is its highest tender price since September 2008.The tender price is also 2,400 yuan per tonne (29%) than what the eastern Chinese mill had sought for July-delivery material.Supply interruptions Market...Read More
Typhoon In-fa made landfall in eastern China's Zhejiang province on Friday July 23, resulting in a serious drop in demand for steel products and disruptions to transport in coastal areas.Zhejiang and Shanghai have had heavy rain since Friday night, and the typhoon was forecast to reach Jiangsu and Shandong provinces in the next two days.Construction sites have gradually been stopping work since la...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday July 27, after a generally upbeat day on Monday, while the base metals on the Shanghai Futures Exchange were mixed this morning.* Chinese equities under pressure again today – market worried about regulatory intervention* Pre-market western equity index futures showing a weaker start againBase metalsLME thre...Read More
Copper's three-month price on the London Metal Exchange rose to $9,809.50 per tonne at the close of trading on Monday July 26, an increase which led most other prices in the complex higher as well.The red metal closed near its intraday high of $9,826.50 per tonne, the highest for copper since June 15. Intense buying took its volumes on Monday to 24,000 lots traded by 5pm, also the highest since th...Read More
Seaborne coking coal prices continued to be supported by regular procurement demand in the cfr market on Monday July 26, while the fob market was largely stable on new buying interest for August-loaded cargoes.Fastmarkets indicesPremium hard coking coal, fob DBCT: $214.63 per tonne, down $0.43 per tonnePremium hard coking coal, cfr Jingtang: $315.07 per tonne, up $0.66 per tonneHard coking coal, f...Read More
Crude steel production cuts that are gradually being implemented in China have resulted in a switch in preference for iron ore brands among steelmakers in the country, sources told Fastmarkets.While the overall demand for iron ore has started to weaken, low-grade fines are generating more buying interest, sources said.A month ago, low-grade fines started to gain favor among mills amid weakening ma...Read More
Crude steel production cuts that are gradually being implemented in China have resulted in a switch in preference for iron ore brands among steelmakers in the country, sources told Fastmarkets.While the overall demand for iron ore has started to weaken, low-grade fines are generating more buying interest, sources said.A month ago, low-grade fines started to gain favor among mills amid weakening ma...Read More
China's leading stainless steel producer, Tsingshan Group, has set its tender price for August-delivery ferro-chrome at 10,795 yuan ($1,665) per tonne, the company announced on Monday July 26. This is its highest tender price since September 2008.The tender price is also 2,400 yuan per tonne (29%) than what the eastern Chinese mill had sought for July-delivery material.Supply interruptions Market...Read More
China's domestic rebar prices maintained their upward trend on Monday July 26 on replenishment demand from trading houses, but end user demand remained weak, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,340-5,370 yuan ($823-828) per tonne, up by 70-80 yuan per tonneTrading houses purchased actively on Monday because they expect rebar prices to rise due to likely production res...Read More
Domestic prices for hot-rolled coil inched down in Northern Europe but were unchanged in Italy on Monday July 26 due to limited trading activity, sources told Fastmarkets.Offers from Northern European suppliers remained limited. Mills in the region had good order books and could only offer fourth-quarter-production HRC, with some of them claiming to be sold out until the end of the year, sources s...Read More
Iron ore prices edged up on Monday July 26 due to higher steel prices, while news of production cuts in China affected the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.74 per tonne, up by $1.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.93 per tonne, up by $1.07 per tonne58% Fe fines high-grade premium, cfr Qingdao: $167.65 per tonne, up b...Read More
ArcelorMittal is to enter a partnership with Sekisui Chemical on a carbon capture project, and invest in a renewable energy storage company as part of its XCarb innovation fund, the steelmaker has announced.The project will be intended to capture and re-use carbon waste gases from the steelmaking process, contributing to the decarbonization of steelmaking and reducing dependence on fossil resource...Read More
(Updates with prices) LONDON, July 26 (Reuters) - Copper prices rose on Monday asfloods in top consumer China sparked demand hopes at a time wheninventories were falling, while a softer dollar also supportedprices. Benchmark copper on the London Metal Exchange was up3.2% at $9,820 per tonne by 1700 GMT, after touching its highestsince June 15 at $9,819.50, in its fifth straight session ofgains. Fl...Read More
Here are five Fastmarkets stories you might have missed on Friday July 23 that are worth another look.Slab export prices from Brazil have edged down, with most market participants remaining cautious and holding onto their inventory positions.The flooding caused by torrential rains that have battered central...Read More
Here are five Fastmarkets stories you might have missed on Friday July 23 that are worth another look.Slab export prices from Brazil have edged down, with most market participants remaining cautious and holding onto their inventory positions.The flooding caused by torrential rains that have battered central...Read More
Here are five Fastmarkets stories you might have missed on Friday July 23 that are worth another look.Slab export prices from Brazil have edged down, with most market participants remaining cautious and holding onto their inventory positions.The flooding caused by torrential rains that have battered central...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Weakness was led by Chinese stocks following a crackdown by the Chinese government on Tech Education companies. The Shanghai Composite Index dropped 82.06 to 2,467.44.Facebook added $0.59 to $370.39 after Mizuho raised its target price from $400 to $450.Starbucks added $3.34 to $129.36 a...Read More
Here are five Fastmarkets stories you might have missed on Friday July 23 that are worth another look.Slab export prices from Brazil have edged down, with most market participants remaining cautious and holding onto their inventory positions.The flooding caused by torrential rains that have battered central...Read More