Steel rebar prices in Egypt decreased over the week to Thursday October 29 while demand failed to improve again after the Egyptian government reduced the safeguard duty on billet and rebar imports the week before, sources told Fastmarkets.The duty for imported billet has been reduced to 13% in the cif market with a $60-per-tonne minimum, compared to a 16% duty and $75-per-tonne minimum in effect s...Read More
Trading activity in China's hot-rolled coil market slowed on Thursday October 29 but prices still narrowed upward.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($583-585) per tonne, narrowing upward by 10 yuan per tonneA Shanghai-based trader said trading activity had slowed on Thursday but sellers refused to accept lower offers.News of a decline in spot Chinese HRC inventories failed to boos...Read More
China's domestic rebar prices stopped rising on Thursday October 29 due to lower buying interest in the higher offer prices. DomesticEastern China (Shanghai): 3,730-3,760 yuan ($556-561) per tonne, unchangedJanuary rebar contracts increased to a high of 3,680 yuan per tonne in the morning October 29, up from the opening price of 3,656 yuan per tonne. Sellers raised their offers by 10-20...Read More
Brazil-based miner Vale showed an increase in its earnings before interest, taxes, depreciation and amortization (Ebitda) of 32.41% year-on-year in the third quarter of 2020, because of strong prices backed by Chinese demand. The miner's adjusted Ebitda reached $6.10 billion in the third quarter, up from $4.60 billion a year earlier. Adjusted earnings also soared from the second quarter's level of...Read More
Seaborne iron ore prices were rangebound on Thursday October 29 amid market participants adopting a wait-and-see stance, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $116.00 per tonne, down $0.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $116.84 per tonne, down $0.26 per tonne58% Fe fines high-grade premium, cfr Qingdao: $108.57 per tonne, down $0.18 per to...Read More
Seaborne premium hard coking coal prices in the cfr and fob markets moved in reverse directions on Thursday October 29 amid a distorted spot market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.74 per tonne, down $7.61 per tonne Premium hard coking coal, cfr Jingtang: $135.26 per tonne, up $15.43 per tonneHard coking coal, fob DBCT: $95.52 per tonne, down $0.25 per tonn...Read More
Prices for cargoes of ferrous scrap exported from Japan are poised to continue rising amid strong appetite from Vietnam and continued concerns over global scrap supply, sources told Fastmarkets.Vietnam was heard paying $300-305 per tonne cfr for Japanese H2 scrap in bulk at the end of last week, which Japanese sources said was equivalent to around ?28,500 per tonne fob.One South Korean mill was h...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 transparencyinto the markets it covers and the pricing process it applies....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....Read More
Key data from the Wednesday October 28 pricing session in Shanghai.Key drivers Spot domestic Chinese cobalt metal prices edged lower amid lingering weak sentiment, while buyers succeeded in negotiating lower prices, taking advantage of competition among traders who usually require steady cash flow. The price range for...Read More
Cobalt hydroxide payables made further gains during the first half of the week while metal prices fell for the first time since mid-July. Fastmarkets' price assessments for cobalt standard grade, in-warehouse Rotterdam and cobalt alloy grade, in-warehouse Rotterdam stand at parity at $15.50-16 per lb as of the Wednesday October 28 assessment, both narrowing downward from $15.70-16 per lb the day b...Read More
An overview of the consumers electronics markets and their latest price moves.Read More
A summary of sales figures from Russian steelmaker Evraz in the third quarter of 2020, it said in a trading update report published on Thursday October 29.Evraz CIS in briefSales of semi-finished steel products from Evraz's assets in the Commonwealth of Independent States (CIS) dropped by 21.6% year on year to 1.3 million tonnes in the third quarter of 2020 from 1.67 million tonnes in th...Read More
Changes in the purchasing habits of some Chinese alloy smelters are partly to blame for the weakness in the low-grade manganese ore market, sources told Fastmarkets.Prices for the low-grade manganese ore, also called semi-carbonate, in both seaborne and portside markets have generally trended downward since hitting year-to-date highs in late April on supply concerns after South Africa implemented...Read More
China's domestic stainless steel prices decreased slightly in the week ended Wednesday October 28 due to softer demand following nickel losses.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,500-15,200 yuan ($2,157-2,261) per tonne, widened downward by 100 yuan per tonne from a week earlier.The three-month nickel contract on the London Metal Exchange fell steadily from O...Read More
Check Point (CHKP), a NASDAQ 100 stock moved below $114.89 completing a double top pattern. Hong Kong iShares moved below $21.51 setting an intermediate downtrend. Pre-opening Comments for Friday October 30thU.S. equity index futures were lower this morning. S&P 500 futures were down 29 points in pre-opening trade.Index futures were virtually unchanged following release of economic news a...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 28 that are worth another look.Both the North American and Brazilian markets have strong growth potential stemming from infrastructure-related activity, Gerdau's global chief financial officer Harley Scardoelli told attendees at Fastmarkets' 2020 Steel Success Strategies Online conference on October...Read More
Premiums for lead in India have risen amid calls for increased regional production in the week to Tuesday October 27, while lead and zinc premiums in other regions remained flat over the period, despite increased spot-market interest in both the United States and Europe.Increased demand for industrial production boosts Indian lead premiumUS zinc and lead premiums unmoved despite improved spot appe...Read More
The three-month nickel price on the LME was weaker at the close of trading on Wednesday October 28, down by more than 1% against spread tightness and selling pressure, in addition to a steady rise in the US dollar index.London Metal Exchange lead futures, meanwhile, bucked the downward trend to end the day as the only positive close. Nickel's outright price on th...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 28 that are worth another look.Both the North American and Brazilian markets have strong growth potential stemming from infrastructure-related activity, Gerdau's global chief financial officer Harley Scardoelli told attendees at Fastmarkets' 2020 Steel Success Strategies Online conference on October...Read More