Key data from Fastmarkets' pricing session in Europe on Wednesday October 28.Key driversThe ferro-titanium market in Europe climbed further over the week, adding to a steady run of gains since August 19 when the market was assessed at $3.30-3.85 per kg ddp. Steady demand and competition from overseas buyers in India and China have supported the rally in recent weeks, while persistent scrap tightne...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 grade, in-whs Rotterdam, $/lb at...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...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. Read More
South Africa's proposal to impose an export tax on UG2 chrome ore has revived sentiment and halted a slump in prices, while ferro-chrome markets held steady ahead of the release of November tenders, sources said on this week.News of the proposed export tax saw Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, settle at $136 per tonne on Tuesday, up by $1 per t...Read More
The United States' ferrous scrap export market is enjoying renewed activity and better prices on both the East and West Coast, which is also working to tighten supply in the domestic market ahead of November's trade.On the East Coast, two additional cargoes were sold to Turkey this week at $292 per tonne for an 80:20 mix of No1 and No2 heavy melting scrap, $297 per tonne for shredded scrap an...Read More
Domestic steel rebar prices in south Europe dipped slightly due to slower buying amid lockdown fears, yet prices widened upward in the north on bullish offers from mills, sources told Fastmarkets on Wednesday October 28.Southern EuropeFastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered southern Europe was ?,?445-450 ($526-532) per tonne on Wednesday, down by...Read More
Technical weakness in U.S equity markets continued in early trading. S&P 100 and NASDAQ 100 stocks that broke intermediate support by 10:00 AM included BKNG, MCD, ROST, CVS, KO, MNST, WBA, PFE, MMM, WLTW and VRSK. Selected ETFs that broke intermediate support included XOP, XLP, DIA, EWZ, GDXJ, UGA and USO.Pre-opening Comments for Thursday October 29thU.S. equity index futures were mixed this m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 27 that are worth another look.Fastmarkets' Steel Success Strategies Online event started on Monday October 26. Here are four things that we learnt during the European Steel Panel on the first day of the forum.Aluminium producer...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 27.Read More
Three-month base metals prices on the London Metal Exchange lacked a clear direction at the close of trading on Tuesday October 27, with a weaker US dollar and a slew of positive data from the region failing to outweigh the uncertainty about the country's presidential election on November 3.Some analysts suggested that the market was merely "holding up" in the interim before the much-anticipated p...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 27 that are worth another look.Fastmarkets' Steel Success Strategies Online event started on Monday October 26. Here are four things that we learnt during the European Steel Panel on the first day of the forum.Aluminium producer...Read More
An overview of the chrome ore and alloy markets and their latest price moves. China Weakening sentiment in the UG2 chrome ore market reversed after South Africa's cabinet proposed an export tax on chrome ore. However, most market participants took a watchful stance before details of the tax were announced.Some UG2 buyers looked to purchase spot cargoes on the portside market, leading to a slight u...Read More
Teck Resources is continuing to increase its workforce at the Quebrada Blanca Phase 2 (QB2) copper project in northern Chile and expects the project to be about 40% complete by the end of the year, the company said this week. The project, which has been delayed by up to six months after being suspended due to the Covid-19 pandemic, expects to see first production in the second half of 2022, d...Read More
The publication of Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China, $/tonne and ferro-chrome lumpy Cr benchmark indicator, charge basis 52% (and high carbon), Europe, $/Ib for Tuesday October 27 were delayed because of a reporter error.The Fastmarkets' price book and database have both since been updated.The affected prices are:MB-CHO-0002 Chrome ore Turkish lumpy...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for most ferro-alloys maintained their upward momentum into October, solidifying previous gains and reflecting the improved demand from steelmakers, the rebuilding of depleted inventories, and the supply-side concerns following both planned and unplanned outages. Gains were noted for ferro-silicon, silicon metal, mang...Read More
A summary of China's battery raw materials exports for September 2020.In brief Chinese cobalt tetroxide exports continued to rise on a monthly basis amid a recovery in industrial activity in ex-China markets and an increase in remote working, which has led to a bump in demand for consumer electronics. China's lithium carbonate exports fell in September on reduced demand as a result of buyers slowi...Read More
Ferrous scrap prices in Mexico remained stable in the country's northern region over the past week, but increased slightly in the the central Baj?-o region, because of low availability for certain grades, Fastmarkets heard on Tuesday October 27.In Baj?-o, some scrap buyers applied price increases of around 100-200 pesos ($5-10) per tonne during the week ended on October 23, while other buyers did...Read More
Turkish steel mills booked further scrap cargoes in the deep-sea market on Tuesday October 27, adding to the six heard on the market the day before, sources have told Fastmarkets.A batch of newly booked cargoes came to light on Monday, and on Tuesday another handful of fresh trades were heard.A US-origin cargo was booked by a mill in the Iskenderun region, comprising unknown tonnages of HMS 1&2 (8...Read More
Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates. Major western equity index futures rebounding after Monday's weaknessExpect increased volatility in the run-up to the US presidential electionBase metal...Read More