Turkish steel producers have resumed their deep-sea scrap purchasing for February-shipment cargoes at strengthening prices, sources told Fastmarkets on Wednesday January 6.A steel mill in the Marmara region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $478 per tonne and 10,000 tonnes of shredded at $488 per tonne cfr.Another steel mill in the Izmir region booked a European car...Read More
Fastmarkets has corrected its daily Turkish steel scrap indices, which were published incorrectly on Wednesday January 6 due to a technical error.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey should have been $475.14 per tonne, instead of $464.17 per tonne as previously published.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More
Iron ore registered increases across the board on active seaborne trading on Wednesday January 6, with lump prices surging due to tight supplies, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $168.72 per tonne, up $0.86 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.75 per tonne, up $0.75 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nbs...Read More
Low-volatility pulverized coal injection (PCI) fob and cfr indices rose on Wednesday January 6, which sources attributed to tight supply. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.92 per tonne, up $0.18 per tonne Premium hard coking coal, cfr Jingtang: $207.44 per tonne, unchanged Hard coking coal, fob DBCT: $93.47 per tonne, down $0.42 per tonne Hard coking coal, cfr Jingtang:...Read More
The cfr premium hard coking coal price jumped again on Tuesday January 5 after two transactions were sealed at higher prices.The fob market, meanwhile, remained relatively quiet, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.74 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $207.44 per tonne, up $4.27 per tonneHard coking coal, fob DBCT:...Read More
Fastmarkets is proposing to launch a new daily China ferrous scrap import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.The new assessment will be for heavy scrap classified under the Chinese standard HRS101. HRS101 is a grade of cut structural and plate scrap which - outside of China - fits under the category of plate and structura...Read More
China's domestic rebar prices softened on Wednesday January 6 amid lower trading activity due to forecast adverse weather.DomesticEastern China (Shanghai): 4,490-4,520 yuan ($696-700) per tonne, down by 10-20 yuan per tonneA cold wave has been forecast for central and eastern China between late on Wednesday and Friday, which resulted in a drop in construction activity and demand for rebar. A cold...Read More
Markets seem to be anticipating a Democratic win in the Georgia Senate run-off this morning, Wednesday January 6, and that could be bullish for commodities because a Democratic-controlled US Congress could push through larger fiscal stimulus packages.A Democratic-controlled Congress could, however, cause some headwind for some sectors of the equity markets, although those involved in the rollout o...Read More
Cobalt metal prices in-whs Rotterdam rose in the first half of the week, with news of stockpiling activity in China spurring a flurry of activity and sellers holding offers firm in anticipation of further price increases. An alloy grade premium to the standard grade international benchmark emerged at the beginning of the week with higher price indications for alloy grade underpinned by tighter ava...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and Michael Greenfield in London, Susan Zou...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina...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 16.00-16.50 on Wednesday January 06, 2021.Sale...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,...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
Cobalt metal and salts prices in China rose in the first half of the week with some suppliers holding back from sales amid tightened supply and in anticipation of a further price rally. Metal suppliers in China succeeded in filtering through higher offers so far this week on the back of optimism for another round of stockpiling from China's State Reserve Bureau (SRB) and the resultant spot su...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 6. Key drivers The European ferro-titanium market was quiet in the first week of domestic business of the year with only around 30-40 tonnes of alloy traded in Europe within the current price assessment range.There were reports of increased buying interest from Asia and North America. European suppliers report a tender for...Read More
Despite violence in the United States’ capital city, the markets remained upbeat with nickel this morning, Thursday January 7, joining copper and tin to set fresh new multi-month highs, but gold prices have turned lower.* Asian-Pacific equities generally upbeat, along with pre-market western equity index futures as the US Democrats win the Senate* US 10-year treasury yields continue to rise B...Read More
Here are five Fastmarkets stories you might have missed on Tuesday January 5 that are worth another look.Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.London Metal Exchange...Read More
Three-month LME copper and tin prices continued to rise on Tuesday January 5, with the red metal coming close to its 2020 high, on a day when the rest of the base metals all saw increases, supported by a low US Dollar Index.Copper's three-month price settled at $8,002 per tonne on Tuesday at the 5pm close, just a few dollars short of the metal's 2020 high of $8,028 per tonne reached on Decemb...Read More
London Metal Exchange spreads are usually a key driver for duty-unpaid aluminium premiums in Europe but this was not the case toward the end of 2020, leaving market participants wondering what will be main driver in 2021. Since late November, the Rotterdam duty-unpaid premium has been steadily rising despite spreads trading at levels that would usually bring it down. Fastmarkets assessed the ...Read More