Prices for imported hot-rolled and cold-rolled coil in the United States climbed to new all-time highs over the past two weeks, with US consumers competing with other buyers to purchase limited material."There is not a lot of supply anywhere," a consumer said. "I'm not interested in the imports that are available because they are too expensive."Fastmarkets' assessment for steel hot-rolled coil, im...Read More

With the exception of lead on the Shanghai Futures Exchange, base metals prices were stronger this morning, Thursday April 29, reassured that Federal Reserve would keep policy loose and because United States President Joe Biden pumped up the outlook for the US by saying the country is “ready for takeoff".Tin leapt higher on the LME on Wednesday, with the SHFE contract catching up today. ...Read More

Fastmarkets' daily indices for domestic hot-rolled coil were broadly flat on Thursday April 29 due to lack of actual offers while producers held back volumes for the spot market, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?988.33 ($1,194.67) per tonne on Thursday, up by just ?,?0.83 per tonne from ?,?987.50 per ton...Read More

Demand for steel rebar in Egypt should increase soon after the new construction regulations come into effect on May 1, sources told Fastmarkets on Thursday April 29.The Egyptian Ministry of Local Development announced that it will allow new building permits from May 1 onward, sources told Fastmarkets.The permits will be provided until June 30 as part of a trial period and after the trial, the mini...Read More

Bank of America (BAC), an S&P 100 stock moved above $40.38 extending an intermediate uptrend.Facebook (FB), an S&P 100 stock moved above $315.88 to an all-time high extending an intermediate uptrend. QUALCOMM (QCOM), an S&P 100 stock moved above $140.68 extending an intermediate uptrend.U.S. Broker iShares (IAI) moved above $97.84 to an all-time high extending an intermediate uptrend.A...Read More

How much wealthier - or poorer - would you be today absent 50 years of government economic regulation?That is, how much wealthier or poorer would you be… had the United States government stood paws off these past 50 years?Your choices are these:A): 3.0 times wealthierB): 1.86 times wealthierC): 3.8 times poorerD): 4.2 times poorerPerhaps you would be identically rich or identically poor, des...Read More

A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) in the first quarter of 2021, as stated in its earnings report published on Wednesday April 28.In brief Production from the No2 blast furnace (BF), which was reignited in November last year, normalized throughout the quarter and boosted steel slab output, the company said. Sales to...Read More

Seaborne premium hard coking coal prices were largely stable in both the cfr and fob markets on Thursday April 29, with the cfr market in tight supply of seaborne coking coal amid limited buying interest in the fob market due to the Covid-19 spread in India, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.78 per tonne, up $0.57 per tonnePremium hard coki...Read More

Seaborne iron ore prices decreased on Thursday April 29 due to the depressed market sentiment following China's steel export rebate rates cut and less trading activity before the Labor Day holiday in China from May 1-5, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $191.60 per tonne, down $0.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $193.43 per tonne, down $0.80 per...Read More

Sentiment in China's imported ferrous scrap market turned bullish on Thursday April 29, after the country's Ministry of Finance officially announced that the new tax regime for ferrous raw materials would start on Saturday May 1.According to the document published by the Ministry of Finance, there will be no import tariffs for steelmaking raw materials such as recycled steel, pig iron, crude steel...Read More

Export prices for scrap from Japan were largely stable over the past week due to the country's upcoming "Golden Week" holiday, sources told Fastmarkets this week.The holiday runs from April 29 to May 5 this year, with market participants not fully in the spot market during the period.Key market participants said many Japanese shippers were keeping offers unchanged ahead of the holiday and not enga...Read More

The world's largest iron ore project, Simandou, in the West African nation of Guinea has started railway construction and tunneling works.The works comprises the construction of the 11.6km Kindia Tunnel, which will form part of the Simandou railway and will pass under a mountain in the Madina-Oula subprefecture.Construction of the 9km Mamou Tunnel in the Oure-Kaba subprefecture has also started.Th...Read More

China's hot-rolled coil prices rebounded on Thursday April 29 on bargain hunting after declining a day earlier. DomesticEastern China (Shanghai): 5,770-5,790 yuan ($890-894) per tonne, up 40-50 yuan per tonneSeveral Shanghai-based traders said spot sellers in the city had secured orders at higher prices than a day earlier after a strengthening of the futures market.The futures market's strength wa...Read More

Base metals prices on the London Metal Exchange were higher across the board during morning trading on Thursday April 29, supported by a weaker dollar and bullish sentiment. Copper continues to drive the rest of the complex upward - the three-month price was trading $96 per tonne higher at $9,972 per tonne this morning. It hit a high of $9,999.50 per tonne earlier; the all-time high for the three-...Read More

With the exception of lead on the Shanghai Futures Exchange, base metals prices were stronger this morning, Thursday April 29, reassured that Federal Reserve would keep policy loose and because United States President Joe Biden pumped up the outlook for the US by saying the country is "ready for takeoff". Tin leapt higher on the LME on Wednesday, with the SHFE contract catching up today...... Mala...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...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...Read More

Key data from Fastmarkets' pricing session in London on Wednesday April 28.Key drivers: Market continues its downtrend amid lower cif prices from China that has led some profit-takers in Europe to offer below $10,000 per tonne for both grades. Some producers also achieved higher prices, closer to $10,400 per tonne, however. The market picture continues to be mixed with traders taking different pos...Read More

A summary of Glencore's production results for the first quarter of 2021, as released on Thursday April 29.In brief Copper production was up by 3% year on year in the first quarter of 2021 because of productivity improvements and mine plan sequencing at Glencore's South American operations including Collahuasi, Antamina and Antapaccay.Lower grades at Kazzinc's Maleevsky mine and mine sequencing at...Read More

The approaching rainy season in southern China usually signals the start of a downtrend in the Chinese silicon price because of more availability of hydroelectricity to power operations, yet the price is unlikely to reach last year's low, according to market participants.In China, the main 553 silicon production hubs are in Sichuan and Yunnan provinces. It is traditional for refineries in Sichuan...Read More