Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week, but buyers preferred to wait to see whether price increases would be permanent, sources told Fastmarkets on Tuesday June 2.The reason for rising prices was the strong domestic demand in China.No deals were heard during the past week and steel demand was still soft after the Islamic holy month of Ramadan that...Read More
The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers. The preliminary inquiry covers imports of hot-rolled carbon steel plate and high-strength low-alloy steel plate from Germany, Malaysia, South Korea, Taiwan and Turkey, the CITT said in a public notic...Read More
The prices for steel billet and rebar in the United Arab Emirates have increased over the past week, with demand improving after the Eid Al-Fitr holiday, as well as the easing of restrictions under the Covid-19 pandemic, market sources said on Tuesday June 2.Market participants in the UAE were expecting demand to improve in late May, when the Islamic holy month of Ramadan ended with the Eid al-Fit...Read More
Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company said early in April state rules to prevent transmission of the virus had made business impractical, paralysing the company's supply chain and the free movement of staff, and causing "significant operational delays and work constraints".However, it has managed to extend Pumpkin Hollow's main shaft to its final depth...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferrous scrap consumption rates of Chinese integrated mills appear to have declined this year on a per-tonne basis. This year has seen the ratio of pig iron to steel output tighten, leaving increasingly less room for scrap consumption. Over the first four months of 2020, the pig iron-to-steel ratio has been above the pr...Read More
Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices on Tuesday June 2, sources told Fastmarkets.A steel producer in the Iskenderun region booked a US cargo, comprising 21,000 tonnes of HMS 1&2 (90:10) at $259 per tonne, 4,000 tonnes of shredded at $261 per tonne and 5,000 tonnes of plate & structural scrap (P&S) at $266 per tonne cfr on June 2. T...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.PayPal added $1.62 to $156.15 after Deutsche Bank raised its target price from $147 to $183.Visa gained $1.20 to $195.55 after SunTrust RH increase its target price from $200 to $220.Shopify advanced $7.00 to $765.00 after KeyBanc Capital raised its target price from $775 to $805.Lululemo...Read More
The seaborne iron ore market found an average price for 62% Fe fines that breached $90-per-tonne during May, while improving steel prices, supply uncertainty from Brazil and declining iron ore inventory at Chinese ports were major drivers behind the strong iron ore markets, Fastmarkets understands.The monthly average price for 62% Fe iron ore rose 10.35% month on month to $93.16 per tonne in May,...Read More
Seaborne premium hard coking coal cfr China price rose on Tuesday June 2 after a transaction was signed at $120 per tonne, while prices for other segments remained relatively flat. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.97 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $116.88 per tonne, up $0.95 per tonne Hard coking coal, fob DBCT: $89.57 per tonne,...Read More
Seaborne iron ore prices in the mid-grade section of the market edged up on Tuesday June 2 amid active physical spot-market trading.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $101.32 per tonne, up by $0.87 per tonne.62% Fe low-alumina fines, cfr Qingdao: $104.13 per tonne, up by $0.24 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $91.59 per tonne, down by $0.34 per tonne.65%...Read More
Brazil's iron ore exports in May fell by over a quarter compared with the same period a year earlier.It exported 21.50 million tonnes of the steelmaking raw material last month, which is 28.2% lower than the 29.87 million tonnes it shipped out in May last year, according to figures released by the country's economy ministry on Monday June 1.Iron ore prices have been on the rise amid concerns about...Read More
China's hot-rolled coil producers have raised their offers above $440 per tonne fob after domestic prices strengthened further on Tuesday June 2.DomesticEastern China (Shanghai): 3,650-3,680 yuan ($512-516) per tonne, widening upward by 20 yuan per tonneNorthern China (Tangshan): 3,630 yuan per tonne, unchangedA Shanghai-based trader said sellers in the city issued offers of 3,650-3,660 yuan per t...Read More
China's domestic rebar prices continued to trend upward on Tuesday June 2 amid stronger demand stimulated by rising futures.Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($503-508) per tonne, up by 20 yuan per tonneBuyers raised their procurement rates amid a strengthening futures market, which pushed up spot prices.But some markets participants have expressed concerns over the possibility o...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at $14.75-15.15 on...Read More
The cobalt alloy 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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt alloy grade,...Read More
The cobalt alloy 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 transparency into the markets it covers and the pricing...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More
Bulk alloys markets in Europe are coming under sustained pressure from weak demand, with prices for manganese alloys dropping through May, while ferro-silicon prices have been falling since April, sources said.Elsewhere, silico-manganese export prices have also been dropping in India, where recent restarts in production may be short-lived while producers consider cuts to stem or even reverse price...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are on the increase in June. As far as this market is concerned, it appears as though the Covid-19 pandemic has had little impact so far, with prices on the most common grades of stainless steel just 2-4% lower than they were at the turn of the year in most markets.Even in Asia, a region often talked ab...Read More
Osisko Mining (TSX: OSK) has entered into an agreement with Canaccord Genuity and Eight Capital as co-lead underwriters of a syndicate, which has agreed to purchase, on a bought-deal private placement basis, 41.1 million units of the company at $3.65 each for gross proceeds of $150 million.Each unit consists of one share and half of a warrant. The underwriters will also have the option to purchase...Read More