China's domestic rebar prices increased on Thursday June 24 in response to futures gains on Wednesday, stimulating demand for restocking, sources said.DomesticEastern China (Shanghai): 4,820-4,850 yuan ($745-749) per tonne, up by 10-20 yuan per tonneOctober rebar futures on the Shanghai Futures Exchanged increased on Wednesday night to trade as a high of 5,022 yuan per tonne, up by 88 yuan per ton...Read More
Hot-rolled coil prices across China's domestic market moved in a smaller range on Thursday June 24 while futures prices took a respite from choppy trading in previous days, sources said.DomesticEastern China (Shanghai): 5,300-5,360 yuan ($819-828) per tonne, narrowing by 20 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange fell during the day, reversing gains from overn...Read More
Copper prices on the London Metal Exchange fell on the morning of Thursday June 24, with concerns of earlier-than-expected interest rate increases returning to the market.The three-month copper contract on the LME was down 1.3% at 9am on Thursday, at $9,357.50 per tonne, following a 2% rise at the close of trading on Wednesday, at $9,482.50 per tonne. Wednesday's closing price was the metal's high...Read More
Consolidation has set in across the base metals on the London Metal Exchange this morning, Thursday June 24, while in Shanghai, moves were mixed in response to the combination of yesterday's strength and this morning's weakness on the LME.Broader markets also mixed this morning, suggesting that markets are waiting for directionBase metalsLME three-month base metals prices were down across the boar...Read More
China's domestic stainless steel prices rose to their highest in four-and-a-half years over the past week after producers made upward adjustments to their list prices.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,900-17,500 ($2,609-2,701) per tonne, up by 300 yuan per tonne Prices were last at these levels in December 2016, according to Fastmarkets' data.High productio...Read More
An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Janie Davies...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 Cobalt standard grade, in-whs...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 Cobalt alloy grade, in-whs Rotterdam, $/lb...Read More
A rising local Japanese scrap market has limited the number of export deals closed in the last week, market sources told Fastmarkets on June 24.The lack of export activity was particularly noticeable for higher grade Shindachi busheling and heavy scrap (HS) this week, with domestic steelmakers continuing to pay very competitive prices for the material, sources said.On June 23, key scrap buyer Toky...Read More
The Hybrit initiative - SSAB, LKAB and Vattenfall - has produced the world's first hydrogen-reduced sponge iron at a pilot scale, it said on June 24.The pilot plant in Lule??, Sweden has completed the test production of sponge iron and demonstrated that it is possible to use fossil-free hydrogen gas to reduce iron ore instead of using coal and coke to remove the oxygen. The sponge iron production...Read More
While copper and tin prices are showing some hesitancy on the London Metal Exchange, most of the other base metals are looking robust this morning, Friday June 25, and all the base metals in Shanghai are upbeat too.United States President Joe Biden has agreed a $1 trillion infrastructure deal, which should be good for metals because it focuses on upgrading roads, bridges and broadband network...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Nike advanced $4.40 to $138.00 after reporting higher than consensus fiscal fourth quarter revenues and earnings. FedEx dropped $12.19 to $291.57 after reporting less than consensus fourth quarter results. KBE Bank ETF added $0.40 to $64.80 after 23 major U.S. banks easily passed their Fed...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 23.Please click...Read More
Base metals prices on the London Metal Exchange continued to trade higher across the board during the day on Wednesday June 23. Prices across the complex followed their recent upward momentum during Wednesday's trading as a result of pacified market sentiment following the testimony given by Federal Reserve chairman Jerome Powell to Congress on Tuesday. "In his testimony, Powell's tone was relativ...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
A three-week price rally for the ferro-chrome market in China sped up in the week to Tuesday June 22 on bullish market sentiment after leading producers in China initiated higher prices amid production uncertainty."Production has been greatly impacted amid the uncertainty brought by Inner Mongolia's energy controls and electricity supply shortage. This, together with sharply increased production c...Read More
A summary of China's ores and alloys exports for May 2021.In brief China's silico-manganese export market was active due to a combination of strong demand and tight supply in the global silico-manganese market. APT exports in May dropped amid a slow overseas market. Overseas buyers were cautious in buying the material once the price reached $270 per...Read More
A summary of China's ores and alloys imports for May 2021.In brief May imports of ferro-chrome declined because buyers were less concerned about domestic supply after Inner Mongolia loosened its energy controls on high consuming companies in the second quarter. Manganese ore imports rose month on month with increased arrivals from...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More