Iron ore prices increased across the board on Thursday February 4, after sharp gains in futures on the Dalian Commodity Exchange (DCE) and in swaps contracts on the Singapore Exchange (SGX), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $158.03 per tonne, up $5.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $158.61 per tonne, up $5.71 per tonne58% F...Read More
Seaborne coking coal prices in the fob market climbed on Thursday February 4 with trader sources in India citing strong demand for steel and healthy production levels there. The cfr market remained quiet on Thursday with the Chinese New Year holiday approaching. Fastmarkets indices Premium hard coking coal, fob DBCT: $157.54 per tonne, up $0.01 per tonne Premium hard coking coal, cfr Jingtang: $21...Read More
London Metal Exchange zinc made the most gains on Thursday February 4 morning, with the majority of other metals - except tin - consolidating around recent prices due to a rising US dollar index amid the prospect of the United States passing a Covid-19 stimulus package.LME zinc's three-month price was up 0.8% on Thursday to $2,637 per tonne at 9am, following its 1.8% gain over Wednesday to $2,615...Read More
China's domestic hot-rolled coil prices continued to rise on Thursday February 4 amid gains in the futures market, while exporters are winding down ahead of the Chinese New Year next week.DomesticEastern China (Shanghai): 4,440-4,450 yuan ($687-689) per tonne, up 10-30 yuan per tonneA Shanghai-based trader said trading activity during the day was higher than Wednesday after prices rose.He said thi...Read More
China's domestic rebar prices were flat on Thursday February 4, but some participants are expecting prices to come under pressure from rising market inventories after the Chinese New Year holiday. DomesticEastern China (Shanghai): 4,280-4,300 yuan ($663-666) per tonne, unchangedRebar inventory levels in 20 major cities in China totaled 4.56 million tonnes in late January, up by 930,000 tonnes (25....Read More
Base metals prices on the London Metal Exchange were mainly weaker, while those on the Shanghai Futures Exchange were mainly firmer this morning, Thursday February 4, with the weaker dollar likely weighing on dollar-denominated prices.Along with a stronger US Dollar Index, US 10-year treasuries yields are stronger too......suggesting risk-on, but broader markets not reflecting that this morningAsi...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...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 Cobalt alloy grade, in-whs...Read More
The European titanium scrap market resumed its six-month long rally over the week to Wednesday February 3 after a brief pause, with ferro-titanium suppliers set to hold their offer prices in the near term ahead of second-quarter demand from steelmakers, market sources told Fastmarkets.Both titanium scrap markets that Fastmarkets assesses have jumped about two-fold in the past six months.Fastmarket...Read More
Key data from the pricing session in London on Wednesday January 3..Key drivers Prices in Europe found support following continuous gains in China starting from early January. Producers were raising their offers and resisting lower bids, with all offers above $3 per lb.The higher offers were said to be a result of logistical disruptions in the bismuth production hub in Hunan provinc...Read More
Key data from the Wednesday February 4 pricing session in London and Shanghai.Key drivers The cobalt hydroxide payable indicator continued to edge high after a persistent surge in downstream cobalt sulfate prices translated into heightened willingness among buyers to accept higher offers from...Read More
In a reversal of fortune, Ferroglobe Plc expects to show $33 million of cashflow when it releases its 2020 financial results, the Western Hemisphere's biggest silicon producer told investors in a call on Wednesday February 3."Adjusted Ebitda for the full year 2020 is expected to be positive $33 million, which compares with negative $37 million for the full year 2019," Marco Levi, Ferroglobe's chie...Read More
A summary of the financial results for Finnish stainless steelmaker Outokumpu for the fourth-quarter and full year of 2020.In briefSales in 2020 were only 3% lower than 2019, but earnings fell due to significantly lower prices in Europe during the Covid-19 pandemic A stronger-than-expected market recovery in the fourth quarter pushed earnings up from ?,?10 million to ?,?30 million quarter on quart...Read More
China's domestic stainless steel prices widened downward in the week to Wednesday February 3 because some traders were looking to conclude more sales before the Chinese New Year.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,900-15,900 yuan ($2,307-2,461) per tonne, widened downward by 200 yuan per tonne from a week earlier. End-user demand for stainless CRC is expected...Read More
Key data from Fastmarkets' pricing session in China on Wednesday February 3.Key drivers Aluminium prices on the London Metal Exchange drifted lower this past week, pressuring China's aluminum alloy ADC 12's export price; the LME three-month daily official aluminium price was at $1,972 per tonne on Wednesday, down by 1.6% from $2,003.50 per tonne a week earlier. Buyers in Japan adopted a wait-and-s...Read More
The Biden administration's focus on US manufacturing and domestic supply chains will benefit established and developing minerals and metals sectors, including steel, rare earths, graphite and lithium.US President Joe Biden's executive order on the strengthening of American manufacturing, which he signed during his first week in office, is expected to have a direct effect on demand for US-produced...Read More
With the exception of tin, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Friday February 5, suggesting there is little appetite for follow-through selling after recent bouts of weakness.Asian-Pacific equities were stronger this morning, as was the US Dollar Index.Base metalsThree-month tin prices were down by 0.4% at $22,880 p...Read More
Zoom (ZM), a NASDAQ 100 stock moved above $486.83 resuming an intermediate uptrend. Canadian "gassy" stocks are moving higher. Nice breakout by Birchcliff Energy above $2.42 extending an intermediate uptrend!Bausch Health (BHC), a TSX 60 stock moved above $35.45 extending an intermediate uptrend.Cisco Systems (CSCO), a Dow Jones Industrial Average stock moved above $47.62 extending an intermediate...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 3 that are worth another look.ArcelorMittal Italia has resumed operations at blast furnace (BF) No2 and coke battery No9 at its Taranto steel plant in the south of Italy, the producer said on February 3.Rio Tinto...Read More
Treatment charges for both zinc and lead concentrates fell in the last week of January 2021, moving for the first time since November 27 last year, in Fastmarkets' latest assessments.Market sentiment played a large part in driving TCs lower, because even with most producers recovering from the effects of the Covid-19 pandemic on the mining of zinc and lead, significant tenders were concluded at sh...Read More