Seaborne iron ore concentrate and pellet prices plunged further in the week ended Friday May 28 amid downward pressure from the bigger fines segment of the market.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $61.00 per tonne, down $0.10 per tonne66% Fe concentrate, cfr Qingdao: $213.91 per tonne, down $30.21 per tonne65% Fe blast furnace pellet, cfr Qingdao: $279.82 per...Read More
China's nickel pig iron (NPI) prices widened downward last week amid a sliding stainless steel market, while the cif China discount for ferro-nickel decreased in the past month.Fastmarkets assessed the nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,125-1,150 yuan ($177-181) per nickel unit on Friday May 28, widening downward by 10 yuan (0.4%) per nickel unit from 1,135-1,150...Read More
Seaborne iron ore prices rose on Monday May 31 amid support from increasing billet prices in China over the weekend and a potential easing of restrictions on steelmaking in Tangshan. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $198.83 per tonne, up $8.32 per tonne62% Fe low-alumina fines, cfr Qingdao: $201.26 per tonne, up $8.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $17...Read More
Hot-rolled coil prices in China's domestic market cruised higher on Monday May 31, with the futures market extending its rally.DomesticEastern China (Shanghai): 5,500-5,600 yuan ($864-880) per tonne, up by 100 yuan per tonne.The most-traded HRC October contract on the Shanghai Futures Exchange hit a high of 5,535 yuan per tonne on Monday morning, extending its rally from late last week.While spot...Read More
China's domestic rebar prices rose sharply on Monday May 31 following strong gains in the billet market over the weekend, but demand decreased in response to the increases.DomesticEastern China (Shanghai): 5,000-5,030 yuan ($785-790) per tonne, up by 170 yuan per tonne A $6-trillion budget for the United States' fiscal year 2022 unveiled by President Joe Biden last Friday led to bullish sentiment...Read More
Import prices for rebar in Singapore continued to fall in the week to Monday May 31 amid sustained bearishness in the Asian market, sources said.Buyers continued to abstain from purchases, and instead watching out for when offers stop falling in the region before they commit to any cargoes, a buyer source in Singapore told Fastmarkets.Most major buyers also have a lot of inventory, which makes it...Read More
Key data from Fastmarkets' pricing session in China on Friday May 28.Key drivers Price has declined steadily since peaking at 69,000-70,000 yuan ($10,833-10,990) per tonne in early March.Most Chinese participants chose to temporarily withdraw from the market given weak demand from the downstream...Read More
Energy majors Royal Dutch Shell, Exxon Mobil and Chevron received landmark rebukes - in court or from investors - on Wednesday May 26 in attempts to force the companies into reducing carbon emissions.In a Dutch court, Shell was ordered to reduce carbon dioxide emissions by 45% from 2019 levels, and to do so by 2030 - doubling its current pace.Activist shareholders Engine No1 will hold two seats on...Read More
China's relentless "suggestions" to industry that it wants to see stable commodity prices appear to have suppressed speculative behavior and are beginning to cool bullish market conditions, sources told Fastmarkets on Thursday May 27.Rising commodity prices were highlighted for the third time in 14 days, on Wednesday May 26, during the the weekly executive meeting of China's State Council, le...Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday May 28 that are worth another look....Read More
The TSX Composite Index is expected to open slightly higher in quiet trading this morning.The Index is expected to respond to closed equity markets in the U.S. and U.K where annual holidays are celebrated. The TSX Composite Index at 19,852.18 at the close on Friday is expected to test the 20,000 level in early trade.Canadian energy equities are expected to open higher thanks to higher energy price...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
Nickel's price was up by more than 5% on the London Metal Exchange and tin's was up by 4.3% since the start of the week, with bullish momentum returning to the base-metals complex on Friday May 28 and all metal prices finishing higher than at the start of the week.Prices bounced back following a period of weakness and correction seen at the beginning of the week, after the Chinese government calle...Read More