London Metal Exchange base metals prices were mixed this morning, Monday September 7, as were pre-market major western equity index futures, while metals on the Shanghai Futures Exchange were mainly firmer and Asian-Pacific equities were mixed too. A better-than-expected US employment report on Friday led to a strong close for the base metals at the end of last week, but a weaker tone in equity ma...Read More
Barring those for copper and tin, deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses all declined in the week to Friday September 4.Lead declined the most in percentage terms, with a drop of 5.3% or 1,453 tonnes to 26,127 tonnes. This comes after the heavy metal's stocks fell by 15% in the previous week.The largest outflow of lead this...Read More
Flat steel suppliers to Russia's Central Federal District around Moscow are insisting on higher prices in September on rising exports while buyers doubt the scale of increase the market can actually accept, sources told Fastmarkets on Monday September 7.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was at 41,000-43,000 roubles ($544-570) per ton...Read More
China's hot-rolled coil prices continued to weaken on Monday September 7 despite an announcement by local authorities in Tangshan - the country's steelmaking hub - that inspections would be carried out to check compliance with production restrictions to curb air pollution.DomesticEastern China (Shanghai): 4,010-4,040 yuan ($586-591) yuan per tonne, widening downward by 10 yuan per tonneSeveral Sha...Read More
China's domestic rebar prices moved up on Monday September 7 on a gradual strengthening of end-user demand. DomesticEastern China (Shanghai): 3,690-3,720 yuan ($539-544) per tonne, up by 20 yuan per tonneTemperatures have fallen to milder ranges in most parts of China, which lengthen working hours for the construction sector. A trader in eastern China said his customers raised their procurement ra...Read More
Vietnamese buyers remained in the market for imported hot-rolled coil in the week to Monday September 7 due to a supply shortage, with many sellers hiking or withholding offers on expectations of a continued price uptrend in the near term.Fastmarkets' weekly price assessment for steel HRC import, cfr Vietnam, which mainly looks at 2-3mm rerolling-grade SAE1006 HRC and equivalent products, was $530...Read More
Prices for rebar imports into Singapore were unchanged in the week to Monday September 7 amid limited spot negotiations, market sources told Fastmarkets.Major end users in Singapore did not purchase any materials amid weak demand from downstream construction contractors and high inventory levels. This is unlike the Hong Kong import market, which sources said had bought 52,000 tonnes of Turkish reb...Read More
Turkish steel mills continued to pay slightly higher prices for deep-sea scrap cargoes late on Friday, but made no bookings on the first working day of the week, sources said on Monday September 7.A steel mill in the Izmir region booked a United States cargo late on Friday comprising HMS 1&2 (80:20) at $300 per tonne, shredded at $305 per tonne and bonus at $310 per tonne cfr. The cargo breakdown...Read More
Turkish domestic scrap prices continued to increase over the past week due to improving imported scrap values and demand, sources said on Monday September 7.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 2,040-2,225 lira ($275-300) per tonne on Monday, up from 1,890-2,155 lira per tonne a week earlier.The upward move came after several steel...Read More
Fastmarkets' seaborne premium hard coking coal cfr index increased on Monday September 7, after the latest transaction, with market participants agreeing that demand from China will be the key factor in any further spot market price increases. Fastmarkets indicesPremium hard coking coal, fob DBCT: $110.05 per tonne, up $0.05 per tonne Premium hard coking coal, cfr Jingtang: $115.88 per t...Read More
Buying interest for iron ore lump has increased due to stricter sintering restrictions being imposed in the steelmaking hub of Tangshan, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $129.11 per tonne, up $0.31 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $129.44 per tonne, up $0.22 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $114.38 per tonne,...Read More
Seaborne iron ore concentrate and pellet prices went up in the week to Friday September 4 amid a recovery in demand, though high inventory levels at Chinese ports limited the uptrend, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $136.97 per tonne, up $5.10 per tonne65% Fe blast furnace pellet, cfr Qingdao: $143.07 per tonne, up $4.90 per tonneKey driversMar...Read More
US-based electric vehicle maker Tesla has joined cobalt producers Huayou and Glencore as a member of a recently founded organization whose aim is to improve the artisanal mining sector in the Democratic Republic of the Congo (DRC).The Fair Cobalt Alliance (FCA) will help to boost the appeal of cobalt produced in the DRC by developing the working standards in artisanal mining, a part of the industr...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...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...Read More
Key data from the Friday September 4 pricing session in Shanghai.Key drivers Export price moves up after some deals concluded near $1,440 per tonne.Some exporters maintain offers above the published range due to the firmer domestic market and a stronger yuan in relation to the dollar, but they have not...Read More
Outright cobalt hydroxide prices continued to rise over the past fortnight, but gains were capped after consumers demonstrated less urgency in their need to restock the material.Fastmarkets' cobalt hydroxide index 30% Co min, cif China was at $11.89 per lb on Friday September 4, up by 7 cents per lb (0.6%) from $11.82 per lb on August 21.Negotiations for units both on the water and in local bonded...Read More
Key data from the Friday September 4 pricing session in Shanghai.Key drivers Exporters continue to raise offer prices given the strength in the domestic market and perception of a firmer yuan against the dollar. The range of upward price adjustments varied, however, with some exporters even offering...Read More
Crude Oil ETN (USO) moved below $26.82 extending an intermediate downtrend. Energy SPDRs (XLE) moved below $34.24 completing a Head & Shoulders pattern. Chevron (CVX), a Dow Jones Industrial stock moved below $80.35 completing a Head & Shoulders pattern. S&P Oil and Gas Exploration SPDRs moved below $47.19 completing a Head & Shoulders pattern.First Trust Natural Gas ETF (FCG) move...Read More
* LME copper stocks at lowest since December 2005 * Premium for cash over 3-month contract at $18.50/T * Copper comes within touching distance of 26-month high (Updates prices) By Pratima Desai Sept 7 (Reuters) - Aluminium prices rose towards 7-monthhighs on Monday as stronger economic growth and demand in Europeand elsewhere raised the prospect of rising exports from topproducer China. Benchmark...Read More