Fastmarkets' index of the 63% Fe Australia-origin lump ore premium, cfr Qingdao, hit a record-high on Wednesday June 9 amid strong activity on a trading platform.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $212.67 per tonne, up by $3.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $214.71 per tonne, up $2.90 per tonne58% Fe fines high-grade premium, cfr Qingdao: $187.88 per tonne, up...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...Read More
Prices on the London Metal Exchange were mostly unchanged at the close of trading on Wednesday June 9, with futures contracts sticking to a consolidation phase at high levels so far this week.Zinc's three-month price, at $3,019.50 per tonne, was up b only $2.50 per tonne from Tuesday's closing price, but was at its highest value at the 5pm close since June 2, when it closed at $3,082.50 per tonne....Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
China's domestic rebar prices picked up on Wednesday June 9 as a result of futures gains leading to stronger demand, market sources said.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($776-782) per tonne, up by 40-50 yuan per tonneRebar futures staged a slight rebound on Tuesday and Wednesday, following a large drop on Monday, which market participants said was a "reasonable price change".The...Read More
Two Chinese investors into Kamoa Kakula copper mine in the Democratic Republic of Congo (DRC) have signed offtake agreements for phase 1 output, operator Ivanhoe Mines said on Wednesday June 9.CITIC Metal (HK) Limited and Zijin Mining's subsidiary Gold Mountains (HK) International Mining Co will each have access to 50% of Kamoa Kakula's copper concentrate and blister copper, Ivanhoe said The offta...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Ewa Manthey, Charlotte...Read More
The US nickel market was active in the week to Tuesday June 8, with a consensus that falling supply and healthy spot demand will support the current premium range. US premiums poised for possible increase if miners' strike in Canada endures. Continued arbitrage losses push some Chinese traders away from nickel plate. European London Metal Exchange warehouse stocks fall 400 tonnes, but...Read More
The 60-64.9% ferro-chrome market narrowed upward in the week to June 8, on high offer prices for Indian ferro-chrome to Europe.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe, narrowed upward by 5 cents (+2.4%) to $1.05-1.10 per lb Cr on June 8, from $1.00-1.10 per lb Cr one week earlier."There is a scarcity of material and the domest...Read More
Rising storage and logistics costs sent the US lead premium to an all-time high on Tuesday June 8, while Chinese zinc market participants expect domestic supply to rebound when the Yunnan government ends the cap on power consumption for manufacturing in three weeks. The US 99.97% lead premium reached a new record high, supported by rising logistics costs. Power limits in China are due to en...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
Copper cathode premiums fell even further for shipments into China, while US rates remained high in the latest assessments on Tuesday June 8. A firmly closed arbitrage window sent Fastmarkets premiums down further in China. US premiums are stable at high levels, supported by high costs and good demand. China's low premium dents spot activity; SEA market flat There was minimal spot interest...Read More
Prices for steel scrap imported into China were unchanged for a fourth consecutive day on Wednesday June 9 despite the June Kanto Tetsugen auction result inching up by ?362 ($3) per tonne from last month.The Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2-grade scrap export auction on Wednesday with the winning bid price at ?49,195 per tonne fas...Read More
Seaborne premium hard coking coal prices remained largely stable in both the cfr and fob on markets Wednesday June 9, with most market participants on the sidelines, source said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $168.50 per tonne, up $0.20 per tonnePremium hard coking coal, cfr Jingtang: $282.87 per tonne, up $0.20 per tonneHard coking coal, fob DBCT: $145.43 per tonne, up $3...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 19.80-20.60 on Wednesday...Read More
LME base metals have looked tired, having lost their upward momentum in the past few days, but underlying support looks plentiful, with all the base metals on the SHFE being in positive territory this morning, Wednesday June 9. US 10-year treasury yields have fallen, not on haven buying, but because the market seems more sanguine that central banks will not rock the boat anytime soon......but will...Read More
Prices for steel hollow sections in Europe were unchanged on Wednesday June 9 following recent stability of feedstock costs and uncertainty over the upcoming European Commission safeguard decision, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,607-1,631) per tonne on June 9, unchanged week on week...Read More
Turkish steelmakers resumed their deep-sea scrap purchases to refresh stocks after some fresh finished steel sales were concluded, market participants told Fastmarkets on Tuesday June 8.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $501 per tonne and bonus at $511 per tonne cfr. The cargo breakdown was not clear at the time of publication.This was the...Read More
Strong demand and tight supply supported aluminium premiums at recent multi-year highs across the globe on Tuesday June 8, although levels for those in South Korea were unchanged for two months.End-user interest and insufficient supply offset London Metal Exchange backwardation in Rotterdam Japanese premium holds at two-year high on fresh deals South Korea stable for eight weeks amid little market...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More