The world's largest ferrous scrap market is set to get a boost from the impending launch of a futures contract on China's Dalian Commodity Exchange (DCE).The scrap futures contract will be based on shredded scrap, which is one of the key steelmaking raw materials for steel mills in China and can be used by all kinds of furnaces, DCE senior manager Yang Shuai said at an industry conference in south...Read More
Seaborne iron ore pellets performed better than concentrate in the week ended Friday October 16, with import hurdles for Australian coking coal resulting in increased demand for the former, according to sources.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $130.64 per tonne, down $0.40 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $147.32 per tonne, up $3.66 per tonne.Key driv...Read More
China's hot-rolled coil prices were stable in the domestic market on Monday October 19, but some short-selling traders signed deals to Vietnam at prices below the market average.DomesticEastern China (Shanghai): 3,890-3,900 yuan ($580-581) per tonne, unchangedPrices for HRC in the Eastern China region were steady on Monday amid moderate trading, several Shanghai-based traders told Fastmarkets.Down...Read More
Queues that have built up for aluminium at London Metal Exchange-registered warehouses in Port Klang, Malaysia are not structural queues, but reflecting real physical market conditions, the exchange chief executive said. Speaking at the LME Week seminar on Monday October 19, Matthew Chamberlain said the situation is very different to the large queues that built up on the LME network previously. "W...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...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...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly firmer this morning, Monday October 19, supported by economic data out of China, especially the 6.9% rise in industrial production, but gross domestic production (GDP) data came in lower than expected.China's GDP climbed by 4.9% in the third quarter, this after a 3.2% rise in the second quarter, it had been e...Read More
Key data from the Friday October 16 pricing session in Shanghai. Key drivers Export price jumps after deals were concluded within the new range. Offers above the latest range were also heard. Domestic market continues to strengthen, which is lending support to the export market. Chinese producers are holding back...Read More
Citic Metal, the exclusive sales agent in China for ferro-niobium from Companhia Brasileira de Metalurgia e Minera????o, has maintained its quarterly price for October-December at 205,000-225,000 yuan ($30,562-33,544) per tonne, flat quarter on quarter, market sources told Fastmarkets. The latest price is equivalent to around $47-51.59 per kg, according to Fastmarkets' calculations. Fastmarkets do...Read More
Hebei Steel, China's second-largest steel mill, has finalized its purchase price for October-delivery silico-manganese at 6,130 yuan ($914) per tonne, market participants told Fastmarkets on Monday October 19. The latest price is 200 yuan per tonne lower than the mill's purchase price of 6,330 yuan per tonne for September-delivery cargoes. The price from Hebei Steel, which is for cargoes delivered...Read More
Magna International (MG), a TSX 60 stock moved above $71.00 extending an intermediate uptrend. Pre-opening Comments for Tuesday October 20thU.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to renewed hopes for a fiscal stimulus package.Index futures were virtually unchanged following release of September U...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Here are five Fastmarkets stories you might have missed on Friday October 16 that are worth another look.Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) is set to reach full capacity by the end of November, with a planned restart for the idled blast furnace (BF) in the latter half...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly firmer this morning, Monday October 19, supported by economic data out of China, especially the 6.9% rise in industrial production, but gross domestic production (GDP) data came in lower than expected.* China’s GDP climbed by 4.9% in the third quarter, this after a 3.2% rise in the second quarter, it had...Read More
Autodesk (ADSK), a NASDAQ 100 stock moved above $261.94 to an all-time high extending an intermediate uptrend.Gilead (GILD), a NASDAQ 100 stock moved below $61.65 extending an intermediate downtrend. Pre-opening Comments for Monday October 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to anticipation...Read More
The London Metal Exchange three month copper price continued to decline on Friday October 16, while the three-month prices for nickel and aluminium made small gains over the day.The LME three-month copper price lost 0.7% to close at $6,738 per tonne, after seeing a low turnover of just above 11,300 lots on Friday.LME copper stocks totaled 184,850 tonnes on October 16, up from 73,625 tonnes on Sept...Read More