Domestic long steel prices in Turkey have increased over the past week thanks to rising scrap costs, but demand is weak because local buyers are struggling with the higher prices, sources told Fastmarkets on Thursday January 7.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 5,500-5,700 lira ($750-777) per tonne on Thursday, widening up from th...Read More
Turkish steel billet prices have increased over the past week due to rising imported scrap costs and despite limited demand, sources said on Thursday January 7.Most of the suppliers in the Commonwealth of Independent States (CIS) were out of the market at the moment for their year-end holidays.There are public holidays in Russia from January 1 to January 11. January 7 is the last official holiday...Read More
Prices for plate and structural-grade scrap (P&S), known as HS in Japan, have shown a slight increase over the past week on strong demand from mills in both Japan and China, sources told Fastmarkets on Thursday January 7.China booked at least four steel scrap cargoes from Japan in the first week of 2021 following an easing in the country's import regulations, with most of these deals done for HS h...Read More
Seaborne coking coal prices increased across the board in the cfr market on Thursday January 7, on higher offer prices, but with storms expected to hit Queensland this weekend, the fob market stayed quiet, with many miners reluctant to sell.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.99 per tonne, up $0.07 per tonnePremium hard coking coal, cfr Jingtang: $208.19 per tonne...Read More
Seaborne iron ore prices maintained their upward trend across the board on Thursday January 7, with lump premiums also continuing to rise because of firm demand, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.69 per tonne, up $2.97 per tonne62% Fe low-alumina fines, cfr Qingdao: $172.25 per tonne, up $3.50 per tonne58% Fe fines high-grade premium,...Read More
The Dalian Commodity Exchange (DCE) released a notice on Wednesday January 6 to amend its coke delivery quality standard, which will apply from the J2201 contract month onwards. The amendments to the exchange's coke futures contract bring it in line with the physical market and enhances the futures market's capability to serve the economy, the DCE said in the notice....Read More
China's domestic rebar prices continued to trend downward on Thursday January 7 amid rising stock levels in the spot market. DomesticEastern China (Shanghai): 4,460-4,490 yuan ($690-695) per tonne, down by 30 yuan per tonneWeakening demand has resulted in rebar stock in the spot market rising for a second week, market sources said.An industry analyst quoted a local industry information provider's...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 Rotterdam, $/lb at 16.30-16.90 on Thursday January 07, 2021....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, in-whs Rotterdam, $/lb at 16.30-16.90 on Thursday January 07, 2021.Bid a...Read More
Spot cobalt hydroxide payables surged in the first half of this week with Chinese consumers actively seeking units while logistical bottlenecks continued to cap suppliers' ability to deliver January cargoes. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China moved up to 86-88.5% against standard-grade cobalt price (low end) on Wednesday January 6, from 82-83%...Read More
The antimony market had a volatile year in 2020 but was buoyed by ongoing trade flow disruptions and ore tightness in China that should continue to support prices in early 2021."In 2020 there was the perfect storm," a European trader said. "We are facing an extreme supply squeeze."Freight rates for both bulk vessels and containers have soared to record highs in recent months amid higher global shi...Read More
The European ferro-vanadium price surged by more than 5% to a 10-month high in the first week of the year on increased end-user appetite amid tightening prompt inventories. Fastmarkets assessed the price for ferro-vanadium, basis 78% V min, 1st grade, ddp Western Europe at $25.95-27.45 per kg on Wednesday January 6, up 5.7% from the previous assessment of $25-25.50 per kg on December 23. The...Read More
Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks’ time.* Asian-Pacific equities generally upbeat, along with pre-market western equity index futures* US 10-year treasury yield...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.Index futures were virtually unchanged following release of the December Employment Report at 8:30 AM EST. Consensus for December Non-farm Payrolls was s gain of 71,000 from an upwardly revised gain of 336,000 in November. Actual was a drop of 140,000. Consensus for the December Unemploym...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 6 that are worth another look.The import price for cargoes of steel billet to Southeast Asia started the new year flat even after sellers sought to raise offers to the market, sources told Fastmarkets.Read More
Nickel premiums were steady across the globe in the week to Tuesday January 5, while China's nickel sulfate market strengthened amid demand support and limited spot supply. Inquiries in the Shanghai nickel plate market grew with the narrowing import arbitrage loss following China's nickel import tax cut, but premiums have thus far been unchanged due to the closure of the arbitrage window...Read More
Copper and nickel hit multi-month and multi-week highs respectively on the London Metal Exchange on Wednesday January 6, spurred by factors such as export delays in Peru, positive sentiment about electric vehicles and a weak US dollar. Three-month copper peaked at $8,169 per tonne, its highest since February 19, 2013, when it topped out at $8,153.50 per tonne. "Copper is the star base metal going...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 6 that are worth another look.The import price for cargoes of steel billet to Southeast Asia started the new year flat even after sellers sought to raise offers to the market, sources told Fastmarkets.Read More
The prices of high- and low-carbon ferro-chrome in Europe rose on January 5 due to tight supply and stronger sentiment seeping into the European market from China. Fastmarkets' assessment of ferro-chrome high carbon 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe rose 2 cents (or 2.1%) to $0.92-1.07 per lb Cr from $0.90-$1.05 per lb Cr on December 29.Correspondingly, ferro-chrome high car...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday January 6. Fastmarkets' alumina index, fob Australia is at its highest level since July 11, 2019 when it hit $309.17 per tonne and has surpassed the 2020 high of $305.46 per tonne reached on March 6. Key drivers A fresh deal concluded today for 30,000 tonnes at $306 per tonne fob Australia, fo...Read More