Domestic prices for hot-rolled coil increased across the European Union during the week to Friday November 5, despite slow trading activity in the spot market.Despite the lack of trading, sentiment remains positive in anticipation of restocking by distributors, upward pressure on prices from high energy and transport costs, and because of the agreement reached between the United States and the EU...Read More
Brazilian steel slab export prices remained stable in the week ended Friday November 5, with no fresh deals heard and negotiations for January shipments still proceeding at a slow pace.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $730-740 per tonne on Friday, unchanged from the previous week.The higher end of the assessment corresponded to prices in the...Read More
Details of new investment by Egypt's Ezz Steel, including the possible acquisition of a stake in another steel company, will be disclosed in a timely manner after financial evaluation and legal audit are completed, the company said in a statement to the country's stock exchange on Sunday November 7.There were rumors in the Egyptian steel market that Ezz Steel, the country's biggest steel producer,...Read More
Hong Kong-based scrap processor Chiho Environmental Group plans to expand its footprint among Chinese recycling operations with the opening of a new yard in the east of the country, the company said on Friday November 5.A recycling park in Taizhou in Zhejiang Province is the result of a joint investment totaling 243 million yuan ($38 million) by Chiho-owned firms Scholz and Chiho Tiande, Chiho sai...Read More
China's decarbonization drive could result in increased demand for graphite electrodes amid the global trend toward more steelmaking based on electric-arc furnaces (EAFs), although supply risks may continue in the near term against a backdrop of energy controls, sources have told Fastmarkets."[Increased] EAF [usage] could be a general trend for steelmaking in China, [because this] is what national...Read More
Seaborne iron ore prices were mostly stable on Monday November 8 amid continuing weak demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.82 per tonne, up $0.68 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.55 per tonne, up $0.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $65.68 per tonne, down $0.10 per tonne65% Fe...Read More
Seaborne coking coal prices in cfr and fob markets diverged on Monday November 8 with previously stranded Australian coal entering China.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $588.94 per tonne, down $11.31 per tonneHard coking coal, cfr Jingtang: $517.65 per tonne, down $7.58 per tonnePremium hard coking coal, fob DBCT: $402.65 per tonne, unchangedHard coking coal, fob DBCT: $...Read More
China imported 91.61 million tonnes of iron ore in October 2021, down by 14% from 106.74 million tonnes one year earlier and 4% lower month on month - its fifth consecutive monthly decline, according to Chinese customs data released on Sunday November 7.In January-October, China imported a total of 934.6 million tonnes of iron ore, down by 4.2% from the corresponding period in 2020.Demand for...Read More
BHP has signed an agreement to sell its 80% interest in BHP Mitsui Coal (BMC) to Stanmore SMC Holdings Pty Ltd as part of its decarbonization plan, the Anglo-Australia multinational announced on Monday November 8.BMC comprises the Poitrel and South Walker Creek operations, Red Mountain Infrastructure and the Wards Well development in Queensland, Australia. Stanmore SMC Holdings Pty Ltd has agreed...Read More
Seaborne iron ore concentrate and pellet prices fell during the week to Friday November 5 amid weaker demand from Chinese steel mills, sources told Fastmarkets.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $55.70 per tonne, up by $8.60 per tonne66% Fe concentrate, cfr Qingdao: $117.73 per tonne, down by $19.75 per tonne65% Fe blast furnace pellet, cfr Qingdao: $169.69 pe...Read More
Spot prices for hot-rolled coil in China dipped on Monday November 8 after the futures market fell to a new nine-month low in response to Tangshan lifting some of its production curbs for fighting heavy air pollution. DomesticEastern China (Shanghai): 4,950-4,960 yuan ($774-775) per tonne, down by 10-40 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange dropped to a trough...Read More
End-user demand for rebar in China's domestic market decreased on Monday November 8 on adverse weather, though prices picked up on rising futures. Domestic Eastern China (Shanghai): 4,900-4,980 yuan ($766-778) per tonne, up by 20-70 yuan per tonneLarge parts of China have been experiencing a cold wave since last Friday, causing snow in the northern region and strong winds in the...Read More
Key data from Fastmarkets' pricing session in Europe on Friday November 5.Key drivers?EUR?There were higher bids for gallium in the market but producers seemed reluctant to sell. Some producers declined bids that were higher than the current price, believing that the price would continue to rise.?EUR?The metal's price...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...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...Read More
Key data from the Friday November 5 pricing session in Shanghai.Key drivers?EUR?Domestic prices for tellurium in China fell amid a slow spot market last week. Participants received very limited inquiries from the downstream thermoelectric cooler industry, according...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday November 9, but those on the Shanghai Futures Exchange were mainly firmer while they followed the strength seen on the LME on Monday, when the complex closed up by an average of 1.2%.* While some of China’s data shows a struggling economy, recovery and infrastructure spending elsewhere bode well for metals d...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.U.S. equity index futures were virtually unchanged following release of the October Producer Price Index at 8:30 AM EDT. Consensus calls for an increase of 0.6% versus a gain of 0.5% in September. Actual was an increase of 0.6%. Excluding food and energy, consensus was an increase of 0.5% ver...Read More
(Recasts, updates prices) By Pratima Desai LONDON, Nov 8 (Reuters) - Copper prices rose on Monday asstrong export growth data from top consumer China, fallinginventories and the passing of a $1 trillion U.S. infrastructurebill boosted sentiment, though gains were capped by concern overChinese demand. Benchmark copper on the London Metal Exchange (LME)was up 1.2% at $9,637 a tonne at 1658 GMT. The...Read More
Here are five Fastmarkets stories you might have missed on Friday November 5 that are worth another look.ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.Low-carbon...Read More