Pig iron exporters in Brazil achieved higher prices in the week to Friday June 5 in deals to China, market sources said. Fastmarkets' assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was unchanged at $295-300 per tonne on Friday, but this week the top end of the range reflects a deal achieved at this price rather than offers last...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom moved up for the second consecutive week on Friday June 5, driving by ongoing tight material availability. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?65-80 ($82-100) per tonne on Friday, up from ?60-70 per tonne on May 29. This is the second wee...Read More
The price of containerized ferrous scrap imports into India maintained its upward momentum in the week to Friday June 5, as activity returned to the market, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $278.58 per tonne on Friday, up from $275.21 per tonne a week earlier.Most market sources reported offers for shredded material...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points in pre-opening trade. The NASDAQ Composite Index is expected to open above its previous all-time high at 9,638.37 set in March.Index futures moved strongly higher following release of the May U.S. employment report at 8:30 AM EDT. Consensus for May Non-farm Payrolls was a drop of 8.0 million versus a drop of...Read More
Turkish steel producers continued to purchase deep-sea cargoes on an easing of the restrictions under Covid-19 measures in the working week ended Friday June 5. Demand in the key import markets of Taiwan and Vietnam remained stable amid limited supplies from the United States and Japan while the Indian market continued its recovery.Turkish purchases continueUS exporters see brisk spot tradeVietnam...Read More
The market for pig iron in the United States improved during the week to Friday June 5 on a new sale and supplier bullishness, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $312-320 per tonne on Friday, up from $310-312 per tonne a week before.A sale of Ukraine-origin pig iron was concluded at $312 per tonne on May 29, after....Read More
Turkish steel mills skipped booking deep-sea scrap on the last working day of the week, leaving the prices stable, sources said on Friday June 5.Along with easing Covid-19 pandemic-related restrictions in Turkey, the steel markets have started to improve and, therefore, steelmakers have accelerated their deep-sea scrap purchases since last week.Turkish steel producers booked at least five deep-sea...Read More
Seaborne premium hard coking coal prices rose by more than $2 per tonne on Friday June 5 due to recent active trading. Fastmarkets indicesPremium hard coking coal, fob DBCT: $109.99 per tonne, up $2.24 per tonne Premium hard coking coal, cfr Jingtang: $116.52 per tonne, up $2.14 per tonneHard coking coal, fob DBCT: $87.58 per tonne, up $0.50 per tonneHard coking coal, cfr Jingtang:&...Read More
Seaborne iron ore prices were mostly higher on Friday June 5, with another weekly decrease in iron ore stocks at Chinese ports lending support to the market. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.74 per tonne, up $1.50 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $103.24 per tonne, up $1.07 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $89.47 per tonne, up $0...Read More
Base metals prices on the London Metal Exchange were collectively higher during morning trading on Friday June 5, supported by stimulus measures announced by central banks, including copper which reached a three-month high due to an uptick in risk appetite across the commodities sector. Copper's outright price on the LME was recently at $5,627 per tonne, up by more than 1.8% from Thursday's closin...Read More
The metals were mixed this morning, Friday June 5, but Asian-Pacific equities were mainly stronger, as were pre-market major western equity index futures. The unemployment rate in the United States is expected to climb to 19.4%. Equities have followed history by focusing on governments' monetary/fiscal actions... ...but can money alone right the impact of the virus, or can only a vaccine do that -...Read More
Backlogged silicon buyers are only now taking metal they should have received many months ago, if not last year, under their annual contracts, multiple sources told Fastmarkets in the week to Friday June 5.The gradual resumption of automotive manufacturing since mid-May has helped to kick-start the sluggish market for grade 5-5-3 silicon, much of which goes into vehicles as secondary aluminium all...Read More
Australia has signed a preliminary deal to supply minerals such as lithium and zircon to India's new energy sector.Australia's resources minister has announced a plan to supply India with critical minerals, one of a number of deals done with trade partners. The agreement, announced on June 4, is preliminary and does not contain specific measures on the volume of shipments to be made between the tw...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies.Fastmarkets...Read More
Polyus PJSC, Russia's largest gold mine and main antimony ore supplier, reported an absence of sales of antimony-rich flotation concentrate during the first quarter of 2020, it said in its financial results.The company confirmed to Fastmarkets that it made no sales of antimony over the first quarter of 2020, while comparatively sales of antimony in-flotation concentrate during the same period in 2...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
European monthly stainless steel alloy surcharges have increased significantly for June but there has been no corresponding increase in transaction prices following their fall at the end of May, Fastmarkets heard on Friday June 5.Fastmarkets' calculation for June of the stainless steel cold-rolled sheet, 2mm grade 304, alloy surcharge domestic, Europe, was ?,?1,329-1,363 ($1,497-1,535) per tonne,...Read More
Strong spot demand for ferrous scrap in Vietnam has continued to boost prices in the week to Friday June 5, with a flurry of purchases at higher prices.Bids for bulk cargoes of Japanese H2 scrap were at $260 per tonne cfr southern Vietnam this week. Offers were at $263-268 per tonne cfr southern Vietnam at the start of the week, but increased to $265 per tonne cfr by Friday. There was not much int...Read More
Papua New Guinea (PNG) has threatened Barrick Gold (TSX: ABX; NYSE: GOLD) with criminal proceedings, claiming the company's joint venture in the country was planning to illegally export US$13 million in silver and gold to Australia.The country's mining regulator said that Barrick Niugini Limited (BNL) asked earlier this week for clearance to ship precious metals to the Perth Mint.The move, the Min...Read More