Demand in India for steel and ferrous scrap will remain subdued for the rest of this year, while Pakistan and Bangladesh both show stronger demand, Zain Nathani has said during the online Bureau of International Recycling (BIR) 2020 World Recycling Convention.Nathani, managing director of Mumbai-based steel raw materials supplier Nathani Group, gave an overview of the South Asia ferrous and steel...Read More
Seaborne iron ore prices declined slightly on Thursday October 15 with some market participants sensing the start of some price stability after several consecutive downward corrections, trade sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $118.70 per tonne, down $0.82 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.04 per tonne, down $0.94 per tonne58% Fe fines high-grad...Read More
Fastmarkets' seaborne premium hard coking coal cfr index edged down day on day on Thursday October 15, with Chinese buyers sitting on the market sidelines, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $134.27 per tonne, down $0.71 per tonneHard coking coal, fob DBCT: $108.52 per tonne, unchangedHard coking...Read More
Coal exports from Australia's metallurgical coal hub of Queensland in September fell by 9.4% compared with a year earlier and were 4.3% lower month on month.Some 15.95 million tonnes of coal - including some thermal coal - were shipped from the region last month, compared with 17.61 million tonnes a year earlier and 16.66 million tonnes in August, according to data from the North Queensland Bulk.....Read More
Spot prices for Japanese heavy scrap dipped over the past week on reduced purchasing from South Korea, but market participants expect prices to strengthen again toward the end of the year.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan was ?26,500 ($251) per tonne on Wednesday October 14, down ?500-1,500 per tonne from ?27,000-28,000 per tonne a week earl...Read More
China's domestic hot-rolled coil prices fell for a third day on Thursday October 15 amid falling futures, though the export market was stable due to limited supply.DomesticEastern China (Shanghai): 3,880-3,900 yuan ($576-579) yuan per tonne, down 30 yuan per tonneSpot prices in Shanghai fell on Thursday, with losses in the futures market resulting in sellers lowering their offers.But trading activ...Read More
China's domestic rebar prices picked up more downward momentum on Thursday October 15 following early losses in the futures market, though participants' outlook remains bullish.DomesticEastern China (Shanghai): 3,680-3,710 yuan ($547-551) per tonne, down by 20 yuan per tonneRebar futures dropped to a low of 3,582 yuan per tonne in the morning before recovering in the afternoon. This weighed on buy...Read More
Base metals prices on the LME and the SHFE were mixed this morning, Thursday October 15, with concerns over the spread of Covid-19 and the reduced likelihood of a US stimulus package any time soon dampening optimism. Governments in Europe are trying to avoid widespread lockdowns, but Covid-19 is spreading alarmingly. United States 10-year treasury yields slip as traders turn more risk-off. Base me...Read More
A socially-distanced mating season means that contract negotiations in the minor metals, ores and alloys sector will look very different this year. Here, Fastmarkets' team considers the backdrop to the 2021 contract discussions.Seeking flexibility...Concern over the second wave of Covid-19 infections sweeping across Europe was an example of the uncertainty that negotiating parties will try conside...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
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.Fastmarkets...Read More
Spot cobalt hydroxide payables edged higher during the first half of the week after buyers resumed their restocking drive following the week-long China National Day holiday (October 1-8), sources said.Fastmarkets' cobalt hydroxide indicator, min 30% Co, cif China widened to 77.5-80% against the price for cobalt, standard grade, (low-end) on October 14, up from 77.5-78.5% on October 9. Payables had...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday October 14.Key driversDomestic producers in China raised their offers further after noticing many consumers re-entering the market to stock up on antimony for their production needs. Consumers in general buy antimony on a hand-to-mouth basis in recent years. As such, they needed to step up their purchases after the October 1-8 hol...Read More
China's export prices for stainless steel pushed up in the week to Wednesday October 14 due to the the stronger yuan, rising demand from buyers and higher domestic prices. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 14,500-15,200 yuan ($2,159-2,263) per tonne, up by 100 yuan per tonne a week earlier.Buyers have raised procurement rates over the past week to re...Read More
Base metals prices on the LME and the SHFE were mixed this morning, Friday October 16, but overall were holding up well despite growing concern over the spread of Covid-19 across Europe and the United States.* Despite the spread of the pandemic the markets seem to be assured that more stimulus will be forthcoming.* EU passenger car registrations climbed 3.1% in September, compared with last year,...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures increased slightly following release of September U.S. Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.7% versus a gain of 0.6% in August. Actual was up 1.9%. Excluding auto sales, consensus was an increase of 0.4% versus a gain of 0.7% in August. Actual was an...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Sellers in the United States hoped that the premium for nickel briquettes would rise further from a floor, while European nickel premiums held firm at new lower levels and Asia was quiet after holidays in the week to Tuesday October 13. US focus switches to next year's contracts China sees minimal trading after week-long national holidays Europe market steady amid volatile LME price. Minimal spot...Read More
The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More