Domestic prices for hot-rolled coil in Europe inched up day on day on Monday March 29, and further price rises are anticipated, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil (HRC) index, domestic, exw Northern Europe at ?,?836.67 ($986.63) per tonne on Monday, up by ?,?1.67 per tonne from ?,?835.00 per tonne on Friday March 26.The index was up by ?,?38.67 per tonn...Read More
Domestic hot-rolled sheet prices in Russia's Central Federal District around Moscow moved up in the week to Monday March 29, supported by improving buying activity and rising export prices, sources told Fastmarkets.Hot-rolled sheetBuying activity in the region has continued to pick up over the past week amid a seasonal improvement in end-user demand, restocking, sources said.Official domestic offe...Read More
Domestic prices for steel rebar in Russia's Central Federal District around Moscow increased again over the past week, driven by improving demand, sources told Fastmarkets on Monday March 29.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 53,000-54,000 roubles ($699-712) per tonne, including 20% value-added tax, on March 29. This was up by 1,000-2...Read More
Asia will soon be hit by a "steel tsunami", a veteran trader in Vietnam told Fastmarkets recently, with a combination of factors expected to keep prices high into the second and third quarters of 2021.Looming China export rebate cutThe looming export rebate cut in China, possibly from 13% to 9%, is likely keep prices higher in the coming months, he said."We are already seeing this effect now, with...Read More
Turkish deep-sea scrap import prices rebounded as expected following the sale of several rebar cargoes to Southeast Asia at the end of the last week, market sources said on Monday March 29.A steel mill in the Iskenderun region booked a United States-origin cargo comprising HMS 1&2 (80:20) at $427 per tonne, shredded at $432 per tonne and bonus at $437 per tonne cfr on Friday March 26.This compares...Read More
Iron ore prices surged on Monday March 29, supported by firmer prices for steel and healthier margins, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $167.88 per tonne, up $6.58 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.88 per tonne, up $6.14 per tonne58% Fe fines high-grade premium, cfr Qingdao: $149.46 per tonne, up $1.80 per tonne65% Fe Brazil-origin fines, cfr Q...Read More
The Chinese seaborne premium hard coking coal price slightly increased on Monday March 29 due to limited supply of both domestic and imported material, while remaining largely stable in the fob market on expectations of new demand. Fastmarkets indices Premium hard coking coal, fob DBCT: $113.47 per tonne, down $0.27 per tonne Premium hard coking coal, cfr Jingtang: $213.5 per tonne, up $0.79 per t...Read More
Prices for rebar imports into Singapore continued on a downward trend in the week to Monday March 29.Falling scrap prices and a weaker Turkish lira have caused import prices to fall continually, market sources said.There were multiple transactions heard concluded in the past week.Around 200,000 tonnes of Turkish rebar was heard sold to Singapore at $650-660 per tonne cfr on a theoretical weight ba...Read More
Prices for seaborne iron ore concentrate and pellet decreased in the week ended Friday March 26 amid weak demand due to China's ongoing emissions restrictions, market sources told Fastmarkets. Fastmarkets iron ore indices65% Fe blast furnace pellet, cfr Qingdao: $220.84 per tonne, down $10.24 per tonne.66% Fe concentrate, cfr Qingdao: $188.13 per tonne, down $4.05 per tonne.Key driversSeaborne pri...Read More
The recent "traffic jam" in the Suez Canal has added to the shipment delays affecting some minor metals whose markets are highly dependent on supplies out of China, and has already sent some prices to multi-year highs.Transit through the pivotal Suez Canal shipping lane has been blocked by the large containership Ever Given since late on March 23, creating a traffic jam involving more than 100 ves...Read More
First Cobalt has entered a five-year offtake agreement for Stratton Metals Resources to market cobalt sulfate from its refinery in Ontario, Canada, it said on Monday March 29. The "flexible long-term" deal will permit First Cobalt to also sign offtake agreements with automotive original equipment manufacturers (OEMs), which could reduce the volumes sold to Stratton, according to the press release....Read More
Key data from Fastmarkets' pricing session in London on Friday March 26.Key drivers: Antimony edged down this week for the first time since July 2020. Some market participants reported significantly lower offers for prompt availability in Europe with some traders destocking material for profit-taking. This was in line with falling prices in China too. The picture is mixed, however, with offers and...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...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...Read More
Ambatovy will soon resume cobalt production following the restart of its nickel operations and after a year's absence, a spokesperson for the joint venture in Madagascar told Fastmarkets on Monday March 29. The company announced the restart of its nickel production on networking website LinkedIn on Friday. "After a shutdown of approximately one year due to health and safety considerations rel...Read More
Key data from Fastmarkets' pricing session in China on Friday March 26.Key drivers Chinese silicon exporters lowered their offers in line with the softer prices in the domestic market after leading producers cut their offers; deals and...Read More
In Europe, ferro-silicon suppliers will be targeting ?,?1,600 per tonne in the next few weeks after the market hit ?,?1,550 ($1,828) per tonne on Friday March 26 for the first time since April 2018 in a recent resumption of a longer-term uptrend since last August when prices were as low as ?,?860 per tonne, sources said.Producers are almost all sold out for deliveries between April and June and ar...Read More
Click here to download Base Metals Weekly DataDISCLAIMER - IMPORTANT PLEASE READ CAREFULLY This Disclaimer is in addition to our Terms and Conditions as available on our website and shall not supersede or otherwise affect these Terms and Conditions. Prices and other information contained in this publication have been obtained by us from various sources believed to be reliable....Read More
Apart from aluminium, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Tuesday March 30, with broader markets also firmer having partially shook off, for now, contagion worries from last week’s hedge fund troubles.* US Treasury 10-year yields jump higher again* Weakness in gold prices and stronger bond yields suggest market is no...Read More
Moderna (MRNA), a NASDAQ 100 stock moved below $121.12 setting an intermediate downtrend.Silver Miners ETF (SIL) moved below $38.75 extending an intermediate downtrend. First Majestic Silver (AG) moved below US$15.13 extending an intermediate downtrend. Junior Gold Miners ETF (GDXJ) moved below $44.00 extending an intermediate downtrend. Pre-opening Comments for Tuesday March 30thU.S. equity...Read More