Iron ore prices continued their downtrend on Wednesday March 31, with trading sentiment still depressed amid low liquidity at ports, sources said.Market chatter about potential plans to cut steel industry emissions and downgrade more mills in Tangshan also drew market attention, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $165.15 per tonne, down $1.43 per tonn...Read More
Prices in the Chinese ferrous scrap import market remained stable in the week to Wednesday March 31, despite higher offers from sellers.Mills in east China were heard bidding at $440-450 per tonne cfr for heavy scrap (HS), while those in the northeast were bidding at $460-470 per tonne cfr. And those not urgently looking for material were bidding at $420 per tonne cfr China, although sources said...Read More
A sharp increase in inflation expectations for the US Dollar this year have led to heightened volatility across global assets and affected copper and iron ore prices, market sources told Fastmarkets.The rollout of several stimulus measures by the US government to help the economy recover following the fallout of the Covid-19 pandemic, including various monetary and fiscal policies, had caused infl...Read More
The European Commission (EC) will impose a definitive anti-dumping duty on aluminium extrusion imports from China, it said on Tuesday March 30.The Chinese aluminium extrusion producers affected will be charged duties ranging from 21.2% to 32.1% for their exports due to the investigation into material dumping and...Read More
More than 60,000 tonnes of aluminium was rewarranted at London Metal Exchange warehouses in Port Klang, Malaysia, on Wednesday March 31, but prices remained broadly unchanged from Tuesday's closing readings.The rewarranting of about 62,600 tonnes of aluminium follows on from 513,000 tonnes of metal being canceled over the past two weeks, after the delivery of more than 650,000 tonnes on March 11-1...Read More
Base metals prices on the Shanghai Futures Exchange were weaker on Wednesday March 31, while they track the movement of three-month prices on the London Metal Exchange on Tuesday, but LME prices have found support this morning.Enthusiasm over economic recovery sent United States treasury 10-year yields higher on TuesdayChina's manufacturing purchasing managers' index (PMI) climbs more than expecte...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
The launch of the first responsible sourcing standard for artisanal cobalt mining in the Democratic Republic of Congo (DRC) has reopened the door for financing banks previously unwilling to invest in the sector, the head of corporate responsibility at Trafigura said. According to James Nicholson, the creation of Entreprise G?(C)n?(C)rale du Cobalt (EGC) and its newly launched standard allows artis...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 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
Key data from Fastmarkets' pricing session in Europe on Wednesday March 31. Key driversScrap markets for turnings are over $2 per lb cif Europe, with suppliers increasing their offer prices amid a persistent downturn in supply from the aerospace sector; aircraft manufacturing has nose-dived since the start of the Covid-19 pandemic when air travel slumped in line with international restrictions on...Read More
The stainless steel scrap market in the United States has cooled, although prices showed little movement over the past week despite a continued weakening in cash nickel prices on the London Metal Exchange.The monthly average cash nickel price stood at $7.474 per lb through Tuesday March 30, down by 11.26% from $8.422 per lb in February.While there is speculation that the ferrou...Read More
Market sources believe hot-rolled coil prices in the Northern European domestic market will remain on an upward trend into the second quarter despite reaching a new peak this week, with steelmakers widely seen as having in the upper hand in current market conditions that have shown no signs of easing. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe...Read More
Ferro-chrome prices in China ticked down this week ahead of announcements of alloy tender prices for April-delivery from the country's major stainless steel mills. Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price widened downward by 100 yuan to 8,400-8,700 yuan ($1,280-1,326) per tonne on Tuesday March 30. Despite the drop, suppliers were reluctant to cut...Read More
Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.* United States treasury 10-year yields remain upbeat, as does the dollar* China’s Caixin manufacturing purchasing managers’ index (PMI) at 50.6 showed slower growth in March, compared with 50...Read More
Editor's Note: Next Tech Talk report is released on MondayMicron (MU), a NASDAQ 100 stock gained $4.45 to $92.66 after reporting higher than consensus fiscal second quarter sales and earnings after the close yesterdayMicrosoft (MSFT), a Dow Jones Industrial Average stock gained $3.90 to $239.67 after winning a U.S. Army contract valued at $22 billion to produce AR handsets.KLA Tencor (KLAC), a NAS...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 30 that are worth another look....Read More
Tight regional supply boosted aluminium premiums in Rotterdam and the United States to multi-year highs on Tuesday March 30, while the quarterly premium in Japan settled at its highest level for six years.Rotterdam duty-unpaid highest since April 2015US Midwest premium climbs to April 2018 levelMJP premium at six-year high.European shortage drives premiums higherA lack of aluminium flowing into Eu...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 30.Please click...Read More