Domestic prices for hot-rolled coil jumped week on week across Europe on Wednesday September 16, driven by reduced output from domestic steelmakers and limited availability of imported coil, sources have told Fastmarkets.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?482.62 ($572.80) per tonne on Wednesday, up by ?,?5.64 per tonne day on day from...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for hot-rolled coil have performed in line with our expectations over the past month, with US domestic HRC prices finding a floor in July in line with the forecast, before improving in August. US HRC prices averaged $473 per short ton in August, compared with our forecast price of $470 per ton.Our prediction that an i...Read More
Hollow steel sections prices in Europe moved up this week, with feedstock costs rising at a fast pace due to raw materials shortages, market sources told Fastmarkets on Wednesday September 16.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?570-585 ($677-694) per tonne on Wednesday, up from ?,?550-570 per tonne a week ago. The price of hot-roll...Read More
The stronger tones in the base metals that have been seen this week were struggling to push ahead this morning, Wednesday September 16, because the market is waiting for direction, which is expected to come out of this evening’s US Federal Open Market Committee (FOMC) meeting.* Will the better-than-expected US recovery mean the FOMC does not need to be as dovish, especially if Congress’...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Investors are waiting for news on interest rates to be released by the Federal Reserve at 2:00 PM EDT. Consensus is that the Fed Fund rate will remain unchanged at 0.00%-0.25%.Index futures moved slightly lower following release of U.S. August Retail Sales at 8:30 AM EDT. Consensus was a...Read More
While recyclers operating at East Coast docks have raised prices to fill existing orders, expectations have been growing that the international ferrous scrap market has peaked and is gearing up for a downward correction.Turkish steelmakers have been silent in the deep-sea scrap market since September 9, when mills bought four cargoes from Europe, Canada and the United States.The last US deals incl...Read More
Turkish steelmakers continued to hold back from deep-sea scrap purchases amid weak finished long steel demand, especially in the domestic market, sources told Fastmarkets on Wednesday September 16.Steel producers in the country booked seven deep-sea scrap cargoes, totalling around 230,000 tonnes, in the first half of last week before stepping away from the market on September 10.The price of HMS 1...Read More
Prices for cargoes of steel scrap exported from Japan fell for most grades on Wednesday September 16 following a drop in appetite among South Korean steelmakers and a worsening of the market environment, sources have told Fastmarkets.Several producers in South Korea were undertaking maintenance work in September-October, reducing the requirements for scrap in the country and thus also reducing the...Read More
Iron ore prices slumped further on Wednesday September 16, on weaker-than-expected demand for steel, raising concerns that the market could start to move into bearish territory as it did in 2019.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.20 per tonne, down $4.32 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.40 per tonne, down $4.50 per tonne58% Fe fines high-grad...Read More
The seaborne premium hard coking coal cfr Jingtang index surged on Wednesday September 16 following transactions of premium mid-volatility hard coking coal the previous day, with most market participants positive about the spot market in the short term. Fastmarkets indices Premium hard coking coal, fob DBCT: $121.73 per tonne, up $2.19 per tonne Premium hard coking coal, cfr Jingtang: $135.14 per...Read More
A continual strengthening of the yuan against the dollar pushed up export prices for Chinese rebar on Wednesday September 16, though domestic prices for the product in China remained flat due to a less active market. DomesticEastern China (Shanghai): 3,700-3,720 yuan ($547-550) per tonne, unchangedRain in eastern China, coupled with a weakening of the futures market, continued to hinder trading in...Read More
London Metal Exchange three-month base metals prices were directionless over the morning on Wednesday September 16, while the market awaits clarification on the potential stimulus packages from the United States Federal Open Markets Committee today.Buyers continue to approach the complex with caution despite the stronger China industrial production data out on Tuesday, with many sources waiting fo...Read More
The stronger tones in the base metals that have been seen this week were struggling to push ahead this morning, Wednesday September 16, because the market is waiting for direction, which is expected to come out of this evening's US Federal Open Market Committee (FOMC) meeting. Will the better-than-expected US recovery mean the FOMC does not need to be as dovish, especially if Congress' relief pack...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 16.Key drivers Tighter titanium scrap supply in the past few weeks has finally pushed up prices after being unchanged for 10 consecutive weeks, with buyers reporting deals down around the new range. Scrap prices may increase in the near term while tight availability - due to a drop in scrap generation following a slump in...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,...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt alloy...Read More
Key data from the Wednesday September 16 pricing session in Shanghai.Key drivers Spot cobalt metal prices in China were steady, with liquidity improving in the first half of this week compared with late last week; but speculators and downstream consumers are generally cautious about taking positions or restocking, despite news on September 9 that China's State...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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
China will be able to absorb the large volumes of ore and ferro-alloys supply it imported in the first half of this year, but supply concerns loom, Fastmarkets head of research Alistair Ramsay said during a recent Fastmarkets webinar on Covid-19 and what it means for trade flow and demand for key ferro-alloys and ores."It is been an extraordinary period with record levels of ores and ferro-alloys...Read More
Amex Exploration (TSXV: AMX; US-OTC: AMXEF) has reported assay results for seven holes completed at the Denise zone, within its Perron gold property in northwestern Quebec, which step out the zone to the west and towards surface. The intercepts include long intervals of mineralization, which, according to Jacques Trottier, the company's executive chairman, establish Denise as a "standalone gold zo...Read More