Steel rebar producers in the United Arab Emirates increased their prices on Tuesday December 22, but not by as much as expected due to the limited availability of imports, sources told Fastmarkets.Domestic rebarThe country's steel producers were offering rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works for orders to be produced in January, rising from 1,984,1,985 dirhams ($540) per ton...Read More

Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to increase over the past week because of globally strong demand and reduced availability of some products, sources said on Tuesday December 22.Demand was not strong in the UAE and Saudi Arabia because stock levels were sufficient to meet limited end-user demand.Buyers were also reluctant to accept ...Read More

Feralpi Group has suspended operations at its Riesa works in Germany for planned maintenance, which will last for about four weeks, it said earlier this week.The company will idle steelmaking operations at Riesa in the Free State of Saxony, Germany, from December 21 to January 25, while the rolling mill will be idled from December 24 until January 18, the company said in a...Read More

The price of steel billet from the Commonwealth of Independent States (CIS) exported via the Black Sea continued to move up this week on the back of a new deal for wire-rod grade material to Turkey on Tuesday, December 22.Billet offers from Russian and Ukrainian suppliers were heard at $580-605 per tonne fob Black Sea on Tuesday, little changed from Monday.Turkey remained the major consumer o...Read More

The domestic hot-rolled coil price increased day on day in Northern Europe on Tuesday December 22 due to limited supply of the material across the EU.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?665.00 ($811.68) per tonne on Tuesday December 22, up by ?,?4.60 per tonne day on day from ?,?660.40 per tonne on Monday.The index was also up by ?,?28....Read More

Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin.Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase the...Read More

Mexican ferrous scrap prices continued to rise in the week ended Friday December 18 amid supply constraints and rising global prices.Most market participants reported price increases of 200 pesos ($10) per tonne in both regions assessed by Fastmarkets, but there were reports of price increases varying between 50 and 450 pesos per tonne, depending on buyer and grade. A few buyers kept prices stable...Read More

Intuitive Surgical (ISRG), a NASDAQ 100 stock moved above $713.07 to an all-time high extending an intermediate uptrend. Workday (WDAY), a NASDAQ 100 stock moved above $248.75 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday December 22ndU.S. equity index futures were higher this morning. S&P 500 futures were up 7 points following news that U.S Congr...Read More

Russia is set to impose early next year a temporary increase to its export duty on ferrous scrap exports to combat the threat of a shortage of steelmaking raw materials in the domestic market.On Friday December 18, Russia's Ministry of Economic Development approved an amendment to its export duty on ferrous steel scrap exports to 5% with a minimum level at ?,?45 per tonne, according to a statement...Read More

The premium hard coking coal in the fob market continued to be active while the seaborne premium hard coking coal cfr price began to lose its price advantage over its Chinese domestic counterpart on Tuesday December 22. Fastmarkets indices Premium hard coking coal, fob DBCT: $102.68 per tonne, up $0.29 per tonne Premium hard coking coal, cfr Jingtang: $190.20 per tonne, unchanged Hard coking coal,...Read More

Seaborne iron ore prices fell from their record highs on Tuesday December 22, after the market began "cooling off" following the introduction of new counter-speculation measures at the Dalian Commodity Exchange (DCE), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.53 per tonne, down $11.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $165.07 per...Read More

Nickel's three-month price on the London Metal Exchange was down by 1.6% during morning trading on Tuesday December 22, with the rest of the complex mostly trading lower given the spread of a new variant of Covid-19 across Europe. The LME nickel price was the most affected on Tuesday morning, dropping to $16,980 per tonne from Monday's 5pm close of $17,267 per tonne.The stainless-steel additive st...Read More

China's domestic rebar prices continued to surge on Tuesday December 22 to reach their highest in three years, though the gains have resulted in sparse trading in the market.DomesticEastern China (Shanghai): 4,680-4,700 yuan ($715-718) per tonne, up by 100 yuan per tonneSellers raised prices in response to early gains made in the futures market.The most-traded May rebar contract on the Shanghai Fu...Read More

Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin. Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase th...Read More

China's Dalian Commodity Exchange (DCE) has tightened its limits on the opening of positions to 2,000 lots per day for non-brokerage members or clients on all iron ore futures contracts from Tuesday December 22.In an announcement on Monday evening, it said it would restrict the opening of positions - both long and short - to 2,000 lots per day on all iron ore futures contracts for such members and...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

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.Read More

Atlas Mining's Carmen mining pit collapsed on Monday December 21 after heavy rainfall in recent months was exacerbated by a typhoon that earlier hit the Philippines' Toledo City, the company said. Carmen Copper Corp (CCC), operator of the mine, confirmed that at around 4.15 pm local time on Monday a landslide occurred at the Carmen Pit, CCC's mine operations site. "The incident was traceable to th...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More

First Cobalt (TSXV: FCC; US-OTC: FTSSF) has secured $10 million in government funding that will allow it to accelerate the development of its cobalt refinery in Ontario, 600 km from the U.S. border. Under the funding arrangement, the Canadian federal government has agreed to provide a $5 million interest-free loan to the company, while the government of Ontario will give a $5 million non-repayab...Read More