Seaborne coking coal cfr prices continued to drop on Thursday with new offers at lower prices emerging, while there was a trade in the fob market after a quiet week.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $522.01 per tonne, down $8.14 per tonneHard coking coal, cfr Jingtang: $464.62 per tonne, down $10.10 per tonnePremium hard coking coal, fob DBCT: $400.49 per tonne, down $0.99...Read More
Seaborne iron ore prices rose on Thursday November 11, tracking the upward movements in Chinese futures and front-month swaps contracts, but most market participants remained cautious because of weak demand for physical iron ore, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.57 per tonne, up $3.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.03 per tonn...Read More
Spot prices for hot-rolled coil in China posted a strong rally on Thursday November 11, as expectations of an easing in property financing and mill moves to underpin steel prices temporarily stemmed the sharp downturn in the futures market.DomesticEastern China (Shanghai): 4,850-4,900 yuan ($758-765) per tonne, up by 190-200 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchan...Read More
London Metal Exchange prices shook off a surge on the United States Dollar Index and were all trading higher on the morning of November 11, with the dip-buying trend continuing in the base metals complex. "While China may have the brakes on, the rest of the world still looks structurally bullish, with infrastructure projects under way, shipping congestion and low stock levels affecting availabilit...Read More
China's domestic rebar prices gained some upward momentum on Thursday November 11 after several steelmakers expressed their unwillingness to deliver January-contracted steel cargoes bound for Shanghai Futures Exchange warehouses. Domestic Eastern China (Shanghai): 4,750-4,800 yuan ($742-750) per tonne, up by 110-130 yuan per tonneWith the price of the most-traded January rebar contract on the exch...Read More
Some Chinese steelmakers are refusing to deliver January-contracted steel cargoes bound for Shanghai Futures Exchange warehouses to stem falling prices.Some steel mills in northern China said on Wednesday November 10 they will not deliver cargoes for January futures positions because their prices are too low compared with spot physical prices.The most-traded January rebar futures contract closed a...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 grade,...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...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Thursday November 11 - it would seem dip-buying has dominated once again.Consumer prices in the United States and China rise more than expected.US Dollar Index shoots up to 95 while the rally extends.Base metalsThree-month base metals prices on the LME were mainly stronger...Read More
Stainless steel sheet prices in the United States rose in November to their highest since June 2011, with buyers competing for limited available spot tons from the mills and an increasing number of market participants reporting that they no longer have any allocation from the mills.Fastmarkets' monthly assessment for stainless steel 304 cold-rolled sheet, fob mill US was $192 per hundredweight ($3...Read More
A summary of the financial results for Austrian steelmaking group Voestalpine for July-September 2021, the second quarter of the company's business year.In briefA favorable economic environment in all key markets, together with Voestalpine's efforts to reduce costs and focus on efficiency, led to strong revenue in the quarter, with a particularly good performance by the company's Steel Division.Th...Read More
Nickel, a key raw material in lithium-ion batteries used in electric vehicles (EVs), has gradually grown its market share amid a global shift away from fossil fuels.But with lithium iron phosphate (LFP) batteries making a comeback in the EV market in China, a shadow is being cast on the growth potential for nickel consumption in 2022.The stainless steel market, which accounts for approximately 90%...Read More
A massive backlog of copper cargoes across Africa - ranging from concentrates and intermediates to refined copper - is putting a massive strain on the spot market supply chain and its impact is spilling over into contractual talks for 2022."My blister copper cargo from Africa should have departed in late July. I kept refreshing the schedule status, but there is nothing new. Our Chinese client is v...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Friday November 12, but those on the Shanghai Futures Exchange were mainly firmer while they followed Thursday’s strong gains on the LME.* Geopolitical tensions rise after the United States warns the European Union that Russia might invade Ukraine.* Given the EU has become rather dependent on Russian natural gas, Rus...Read More
U.S. equity index futures were higher this morning. S&P 500 futures advanced 11 points in pre-opening trade. Johnson & Johnson added $1.21 to $164.27 after the company announced a split in operations into two separate entities. Nvidia dropped $3.90 to $300.00 after Wedbush downgraded the stock from Outperform to Neutral.Hewlett Packard Enterprises fell 40.74 to $15.20 after Goldman Sachs d...Read More
(Updates prices) By Eric Onstad LONDON, Nov 11 (Reuters) - Copper prices rebounded onThursday after debt-burdened China Evergrande Group again dodgeda default, raising hopes of government support for a propertysector that can drive significant demand for metals.Several of developer Evergrande's bondholders had receivedinterest payments on three bond tranches worth more than $148million, reports sa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief executive officer of International Council of Mining and Metals Rohitesh Dhawan said on November 10. Speaking at the UN's COP26 meetin...Read More
Nickel premiums rose in Europe and the United States in the week ended November 10 due to tight supply conditions pushing premiums and spot activity higher; China retreated slightly amid an increased arbitrage loss.US nickel premiums continue to rise to historic highsPremiums in Europe rise to highest level in 2021Chinese premiums retreat slightly with arbitrage loss between London and ShanghaiEur...Read More
Prices for low-carbon ferro-chrome continued to rise strongly in the week to Wednesday November 10, with the market still undersupplied and prices reaching a new record high since collapsing in November 2008.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, was $3.80-4.09 per lb Cr on November 9, up by 34-37 cents from $3.43-3.75 per lb Cr two weeks earli...Read More