China's hot-rolled coil prices fell on Thursday May 13 after Premier Li Keqiang called for stable commodity prices on Wednesday, with falls in global stock markets also dampening sentiment.DomesticEastern China (Shanghai): 6,520-6,710 yuan ($1,011-1,041) per tonne, up by 110-180 yuan per tonneSpot sellers in Shanghai secured some deals at around 6,710 yuan per tonne in the morning, but had to lowe...Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in May at levels last seen nine years ago, amid relatively tight supplies and strong demand in both the local and export markets, sources said this week.Suppliers have managed to generally agree an increase of ?15 ($21) per tonne for steel scrap grades delivered into steelmakers in the...Read More
Prices for steel scrap imported into China remained steady on Thursday May 13 amid sparse trading. Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $530-545 per tonne on Thursday, unchanged from a day earlier.Few sellers were offering cargoes due to the uncertainties about the steel billet...Read More
Ferro-silicon prices in China have surged in the past week, with both domestic and export prices posting their highest weekly increases since early December 2020, according to Fastmarkets data. But what are the key drivers behind the rally?Fastmarkets' weekly price assessment for ferro-silicon 75% Si min, in-whs China, risen to 7,800-8,000 yuan per tonne ($1,213-1,244) on May 12, up by 7.5% from 7...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Thursday May 13, this after some choppy trading in recent days and the greater-than-expected pick-up in the US Consumer Price Index (CPI) on Wednesday.US CPI rises 4.4% year on year in April, and was up 0.8% month on month Asia-Pacific equities weaken on Thursday US treasury yields rise and forward curve steepens Base met...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesMay 7, 2021, 180 tonnes (15 tonnes each month for January to December 2022, all at $20.62-20.72 per lb)May 6, 2021, 60 tonnes (5 tonnes each month for January to December 2022, all at $20.52-20.62 per lb...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...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....Read More
Downstream appetites from lithium cobalt oxide (LCO) battery manufacturers weakened in the second quarter during the traditionally weak consumption season for consumer electronics - a key consumer of LCO batteries and an industry battling with a shortage of semi-conductor chips, sources said.Some cobalt-tetroxide producers told Fastmarkets their customers have cut orders and that demand for LCO ca...Read More
Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.The LME three-month nickel contract ended the official trading session on Wednesday at $17,942 per tonne, up by $680 per tonne from $17,262 per tonne on April 28.DomesticStainless steel cold-rolled coil 2mm gra...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.* Asia-Pacific equities rebounded on Friday* US treasury yields eased as United States Federal Reserve officials stuck to their view that inflationary pressures will be transitory* Metals could...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.Equity index futures moved lower following release of April Retail Sales at 8:30 AM EDT. Consensus was an increase of 1.0% versus a gain of 9.7% in March. Actual was unchanged. Excluding auto sales, consensus was an increase of 0.9% versus a gain of 0.6% in March. Actual was down 0.8%.Wal...Read More
The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More
The prices paid for deep-sea scrap cargoes by Turkish steel mills continued to rise in the wake of recent changes in Chinese tax policy that have seen billet and long steel demand increase, Fastmarkets heard on Wednesday May 12.A mill in the Izmir region booked a cargo from the UK comprising 6,000 tonnes of HMS 1&2 (80:20) at $499 per tonne and 18,000 tonnes of shredded scrap at $519 per tonne.A m...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 12.Please click...Read More
Futures prices on the London Metal Exchange were down across the board at the close of trading on Wednesday May 12, after higher-than-expected inflation indicators in the United States pushed the dollar up to its highest figure this week.Lead was the metal most badly affected by the inflation numbers released earlier on Wednesday, with its price down by 1.6% to $2,187 per tonne, from $2,222 per to...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
The UG2 chrome ore market ticked up for the first time since March of this year in response to increased buyer interest over the week to Tuesday May 11, sources said.Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China price assessment was $150 per tonne on May 11, a rise of $1 (0.67%) from $149 per tonne a week earlier."The number of inquiries we received was the highe...Read More
Commodity trading company Traxys has renewed a $1.33 billion revolving credit facility with 26 lenders, it said on Monday May 10, dating the completion of the deal as May 4.Lead arrangers were Rabobank, Deutsche Bank, ING, Soci?(C)t?(C) G?(C)n?(C)rale, Natixis...Read More