Iron ore prices rose on Wednesday June 30 when concerns were raised about China's overall crude steel output for 2021, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.08 per tonne, up by $1.75 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.85 per tonne, up by $2.91 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.95 per tonne, up by $1.33 per t...Read More
Turkish steel producers continued their deep-sea scrap purchases, but at a slow pace dictated by limited long steel demand, market sources told Fastmarkets on Wednesday June 30.A steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $501 per tonne, along with shredded and bonus scrap at $521 per tonne cfr late on Tuesday June 29, the seller told Fastmarkets.But some mar...Read More
European steel H-beam prices remained stable on Wednesday June 30, with mill-led price increases slowing ahead of the summer break, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,030-1,050 ($1,226-1,250) per tonne on June 30, unchanged week on week.This is the second week of price stability after a period of consistent w...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
News that several major producers had withdrawn from spot trading due to supply shortages has further strengthened China's spot ferro-chrome market, sending spot prices in the week to Tuesday June 29 to their highest point since April."With continuing energy controls in Inner Mongolia in June, our production has been increasingly disrupted due to tightened power restrictions," Jietie Ferroalloy sa...Read More
BHP announced in 2018 that the depletion of its 80-million-tonnes-per-year Yandi mine in its Western Australia iron ore operations would begin from the second half of 2021. Fastmarkets explores how the low-grade fines landscape will adapt to the loss of this key brand. 1. How will the market move forward? Some traders believe the depletion of the Yandi mine will most likely prompt market participa...Read More
Iron ore prices rose on Wednesday June 30 when concerns were raised about China's overall crude steel output for 2021, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.08 per tonne, up by $1.75 per tonne62% Fe low-alumina fines, cfr Qingdao: $217.85 per tonne, up by $2.91 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.95 per tonne, up by $1.33 per t...Read More
Premiums for delivered copper cathodes fell in Europe while those for seaborne cargoes firmed this week, with the market digesting how a tariff on Russian exports would affect the continent's balance of trade. The Russian government has approved temporary export duties on 340 steel and non-ferrous metals sold outside the Eurasian Economic Union (EAEU), effective from August 1 through December 31....Read More
A Turkish mill has secured ferrous scrap from the United States for $2 per tonne more than the last-reported US sale, but falling dock prices and a lack of significant upward momentum in US export prices has led some to question what direction domestic prices will take in July's ferrous scrap trade."It is an interesting turn of events. Somehow mills are getting comfortable. My agent told me export...Read More
Copper's three-month price has shown the biggest fall during June among base metals on the London Metal Exchange, rocked by Chinese announcements and rising inventories, while the prices of other base metals such as aluminium and tin were higher than on June 1.Copper's price was $9,374.50 per tonne on Wednesday June 30 at the close of trading, falling from $10,245 per tonne on June 1.Among the fac...Read More
With the Chinese government setting 2030 as the target for China's carbon emissions to peak and 2060 for it to achieve carbon neutrality, the country's steel sector will have to change the way it does business.Fastmarkets speaks to market participants for their views on what these changes might be, and what challenges lie ahead.1. Reduce hot metal productionReducing hot metal output - such as via...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 30 that are worth another look.BHP announced in 2018 that the depletion of its 80-million-tonnes-per-year Yandi mine in its Western Australia iron ore operations would begin from the second half of 2021. Fastmarkets explores how the low-grade fines landscape...Read More
Copper stocks in Shanghai bonded warehouses rose to a 23-month high in the month of June as a result of a closed arbitrage window between London and Shanghai.During the same period, aluminium and zinc stocks in the bonded zone fell, while the stock level for nickel edged slightly higher.Copper inventories at 23-month highThe rise in Shanghai bonded copper stocks came despite a pick-up in spot acti...Read More
Premiums for tin ingots in Europe and the United States continued their rise to new highs in the fortnight to June 29, with freight and trucking costs and delays still the main issue pressuring premiums upward, sources told Fastmarkets. Premiums in Asia were stable, with the high London Metal Exchange price diverting participants away from the spot market. China's Yunnan Tin, the world's lar...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
Antofagasta has agreed to supply four major Chinese smelters with copper concentrates in the first half of 2022, with a treatment charge in the mid-$50s, Fastmarkets understands.The Chilean copper miner and representatives from China Copper, Jiangxi Copper, Tongling Nonferrous and Jinchuan Group held meetings for three days since Monday, sources said, with an agreement finally reached on the eveni...Read More
Prices for steel hollow sections in Europe remained flat on Wednesday June 30, with mills continuing to struggle to obtain feedstock material, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,370-1,420 ($1,631-1,690) per tonne on June 30, unchanged week on week.Hot rolled coil, the feedstock for hollow sections,...Read More
Asian steel scrap imports fluctuated wildly from territory to territory in 2020, with South Korea and Bangladesh reporting decreases while Taiwan and Vietnam recorded increases.Japan, Asia's largest steel scrap supplier, exported 9.39 million tonnes of the steelmaking raw material last year - over a fifth more than in 2019.Vietnam became the single largest importer of Japanese scrap last year; at...Read More
A shipment of 4,000 tonnes of imported scrap booked by major Chinese steelmaker Hebei Iron & Steel (HBIS) cleared customs checks at Jingtang port in Tangshan, Hebei in early June, sources told Fastmarkets on Wednesday June 30. This is their second cargo of Japanese heavy scrap (HS) since China officially eased restrictions on scrap imports in January 2021. Their first cargo of 2,092 tonnes cleared...Read More
CANADA DAY Pre-opening Comments for Thursday July 1stU.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Johnson & Johnson added $0.67 to $165.41 after the U.S. Surgeon General said that Johnson & Johnson's COVID 19 vaccine may protect against the Delta variant.Micron slipped $1.24 to $83.74 despite reporting highe...Read More