The mood in the European hot-rolled coil market has become bullish due to a combination of a material shortage and strong demand, sources told Fastmarkets on Thursday March 18.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?792.50 ($944.71) per tonne on Thursday, up by ?,?1.25 per tonne from ?,?791.25 per tonne on March 17.The index was also up by...Read More

Steel billet and rebar demand in Egypt remained weak in the seven day to Thursday, March 18, although market participants are hopeful that new construction regulations will lead to an upturn, sources told Fastmarkets.Egypt has granted only a very limited permits for new construction projects since September 2020 when it relaxed the total ban that had been in place since May that year.But there are...Read More

The Turkish steel billet markets have remained weak over the past seven days with limited sales and falling prices due to softer scrap costs, sources said on Thursday March 18.Turkish deep-sea scrap import prices have been falling since late last week due to increased supplies.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $438.17 per tonne on March 17, d...Read More

Domestic rebar and wire rod prices in Turkey have gone down this week on falling imported scrap values, market sources said on Thursday March 18.Turkish deep-sea scrap import prices have made a downward correction in the past week because of strong supplies, with limited steel sales being another reason for mills to stay away from the market.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationThe hit of 813m grading 0.4% copper and 0.1 grams per tonne gold from 54m depth to the end of the hole also included 318m at 0.6% copper and 0.Read More

Micon Awarded Front End Engineering Design and Definitive Feasibility StudySPONSOREDmicon internationalRex ready to rollSPONSOREDrex mineralsDavyhurst back producing gold; can it produce a lot more?SPONSOREDora banda miningSolaris Resources on winning streak in EcuadorSPONSOREDsolaris resourcesEro Copper reported net income of US$52.5 million on sales of $324.1 million in 2020, a 43% fall from the...Read More

Rogesa, a joint subsidiary of German steelmakers Dillinger and Saarstahl, has installed new equipment which will result in reduced carbon emissions and additional energy generation, the company announced on Wednesday March 17.The new dedusting system for the circular cooler - a rotating belt on which the sinter cools - has been installed at sinter plant 3 of Rogesa Roheisengesellschaft Saar in Dil...Read More

Prices for steel scrap imported to Bangladesh remained on a downtrend over the last week amid a supply-demand imbalance in global markets, sources told Fastmarkets on Thursday March 18."The number of scrap cargoes available is currently higher than the number that markets such as Turkey are willing to buy. This means it's possible that United States sellers are under pressure to sell some material...Read More

The seaborne premium hard coking coal price in the fob market inched down amid a stable cfr market on Thursday March 18 because buyers in China were concerned about Mongolian coking coal exports to China, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.78 per tonne, down $1.65 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, unchangedHard coking coal, fo...Read More

The FOMC maintained its Fed Fund rate at 0.00-0.25% and projected no rate hike through 2023. Responses included the following:U.S. equity indices moved higherLong term bond prices initially moved lower, but closed unchangedThe U.S. Dollar and its related ETN moved lowerGold prices moved higherTechnical Notes for Wednesday March 17thPalladium ETN (PALL) moved above $236.33 resuming an intermediate...Read More

Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.62 per tonne, up $0.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.98 per tonne, up $0.71 per tonne58% Fe fines high-grade premium,...Read More

Atlas Commodities expects more ferrous scrap from the United Kingdom to be sold to China from now on."We expect demand for containerized scrap from China to grow significantly in coming months, underpinned by robust steel demand from the economic recovery in China," the commodity brokerage firm's chief executive officer Harry Seale told Fastmarkets on Thursday March 18.Atlas Commodities on Wednesd...Read More

Chinese market participants expect steel output to stay high in March amid a profit recovery, even after the government ordered mills in Tangshan to cut production for environmental protection, Fastmarkets heard.On March 11, Huang Runqiu, minister of ecology and environment, visited four mills in Tangshan - the steelmaking hub in northern China - and found all of them had been running at high oper...Read More

China's domestic hot-rolled coil prices edged up on Thursday March 18 but the market was inactive amid concerns over a possible export tax rebate cut.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($761-766) per tonne, up 10-20 yuan per tonneSeveral Shanghai-based trader said they raised their offers in response to rising futures, but found it hard to secure orders.One of the traders said some...Read More

The Federal Reserve sat idle on its hands today.And so the federal funds rate stays nailed to the floorboards. Monthly asset purchases will roll on at $120 billion the month.Markets feared that Mr. Powell and mates might telegraph hawkish hints today as growth - and inflation - bubble and percolate.But the reign of doves is extended yet again. Mr. Powell, today:Following a moderation in the pace o...Read More

China's domestic rebar prices increased on Thursday March 18 on falling spot inventory levels and a slight pick-up in demand following early-hour gains in the futures market.DomesticEastern China (Shanghai): 4,700-4,720 yuan ($724-727) per tonne, up 20 yuan per tonneRecovering end-user demand has resulted in Inventory levels in the spot market declining gradually this week, sources said.Mills' del...Read More

China's stainless steel market maintained its downward trend in the week to Wednesday March 17 amid pressure on sellers to reduce their inventories. Nickel prices failed to recover from the steep plunge at the start of this month, which kept sentiment bearish in the stainless steel market. The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday at $16,0...Read More

Key data from Fastmarkets' pricing session in London on Thursday March 18.Key drivers Cobalt prices continue to move lower. Some sellers were open to lower bids and were happy to take profit on units bought earlier in the year, when prices were significantly lower. The price for cobalt, standard grade, in-whs Rotterdam, began 2021 at $15.30-15.90 per lb, with the alloy-grade price at...Read More

Manganese flake prices in Europe climbed in the first half of the week to Wednesday March 17 after most producers in China said that they would suspend their operations until the end of April, market sources told Fastmarkets.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 2.8% on March 17 to $2,630-2,800 per tonne from the March 12 assessm...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 24.40-25.40...Read More