Iron ore prices rose on Wednesday June 23 amid improved sentiment because of the possible easing of blast furnace restrictions in China's Tangshan province and the sharp rise in coal prices, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $216.01 per tonne, up by $1.69 per tonne62% Fe low-alumina fines, cfr Qingdao: $219.34 per tonne, up by $3.34 per tonne58% Fe fines high-grad...Read More
Buyers in South Korea have been willing to pay higher prices for Japanese scrap recently, outbidding Chinese buyers, sources told Fastmarkets on Wednesday June 23.The South Korean market has been highly interested in higher-quality scrap from Japan in recent months amid high special steel demand and rising scrap intake at some basic oxygen furnaces (BOFs) due to carbon neutrality policie...Read More
Coking coal prices maintained the upward trend in the cfr China market on Wednesday June 23 amid further supply tightness of mainstream domestic coking coal and increased buying interest, while the fob market surged amid firm demand. Fastmarkets indices Premium hard coking coal, fob DBCT: $183.67 per tonne, up $5.80 per tonne Premium hard coking coal, cfr Jingtang: $296.86 per tonne, up...Read More
China imported 3.41 million tonnes of coking coal in May 2021, down 30% from the corresponding period last year and down 2% month on month, the latest data from China Customs showed. This followed a 44% year-on-year drop and a 29% month-on-month decline in imports in April. Over January-May 2021, China imported 18 million tonnes of coking coal, down 43% from the same period in 2020. Russia was the...Read More
Hot-rolled coil prices in China's domestic market cruised higher on Wednesday June 23, with coking coal supply concerns actin as support and helping to stem the decline in steel futures prices.DomesticEastern China (Shanghai): 5,280-5,380 yuan ($814-830) per tonne, up by 10-70 yuan per tonne. The most-traded HRC contract on the Shanghai Futures Exchange climbed more than 1% to an intraday high of...Read More
China's domestic rebar prices stopped falling on Wednesday June 23 on gains in the futures market following news that the country is one step closer toward a national scheme for the trading of carbon emission permits.DomesticEastern China (Shanghai): 4,800-4,840 yuan ($741-747) per tonne, unchanged The Shanghai Environment & Energy Exchange, China's first trading platform for environmental and ene...Read More
Base metal prices on the London Metal Exchange continued to edge up on the morning of Wednesday June 22, with comments by the United States Federal Reserve chairman on future actions by the central back easing tapering concerns."To reassure the markets, US Federal Reserve chairman Jerome Powell said: 'We will not raise interest rates pre-emptively because we think employment is too high [or] becau...Read More
The aluminium price on the Shanghai Futures Exchange rose for a second consecutive day on Wednesday June 23 even as the Chinese government announced further details of the sell-off of aluminium reserves on its website on June 22. China's National Food and Strategic Reserves Administration on June 22 said it will sell 50,000 tonnes of aluminium to the market through tenders in an initial batch...Read More
Rebounds were under way in the base metals in London and Shanghai this morning, Wednesday June 23, but we will have to wait to see how the metalsreact to today's manufacturing purchasing managers index (PMI) data.To reassure the markets, United States Federal Reserve chairman Jerome Powell said: "We will not raise interest rates pre-emptively because we think employment is too high [or] because we...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 Rotterdam, $/lb at 21.00-21.90 on Wednesday...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 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
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 Cobalt sulfate...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 23.Key drivers Quiet trading activity kept the ferro-titanium price steady for the fourth consecutive week, although there were some small spot sales reported around the top end of the latest assessed price range.Steelmakers seem preoccupied with other ferro-alloys such as ferro-molybdenum and ferro-chrome, although most steel...Read More
The rebar price in Southern Europe held steady at multi-year high levels on Wednesday June 23 due to supply shortages and surging scrap feedstock costs, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was at ?,?760-785 ($905-935) per tonne on Wednesday, the same as last week. The price, however, has been ris...Read More
China is moving a step closer toward a national plan for the trading of carbon emission permits with the release of guidelines by the Shanghai Environment & Energy Exchange (SEEE) on Tuesday June 22.This follows decade-long pilot projects in several provinces and cities including Shanghai.The SEEE, China's first trading platform for environmental and energy sectors, will be the sole marketplace fo...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 are also mixed this morning, suggesting that markets are waiting for direction.Base metalsLME three-month base metals prices were down...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.U.S. equity index futures were virtually unchanged prior to release of economic news at 8:30 AM EDT. Consensus for May Durable Goods Orders is an increase of 1.9% versus a decline of 1.3% in April. Excluding aircraft orders, consensus for May Durable Orders is an increase of 0.8% versus a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 22 that are worth another look.Domestic prices for hot-rolled coil in Europe remained in a wide range on June 22, with some buyers ready to accept high prices for material with shorter lead times,...Read More
Aluminium premiums diverged again on Tuesday June 22, with Rotterdam premiums increasing, while the Japanese premium fell and the US premium was unchanged.Rotterdam premiums boosted by demand, logisticsMJP ticks down, South Korea unchangedUS Midwest premium steady for three weeksStrong demand, high freight rates boost Rotterdam premiumsPremiums in Rotterdam continued to climb, due to strong demand...Read More