Iron ore futures rose on Monday August 31 due to a surge in steel prices over the weekend, but the physical market for the steelmaking raw material was largely stable.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.47 per tonne, up $0.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.21 per tonne, up $0.05 per tonne58% Fe fines high-grade premium, cfr Qingdao: $109.94 per tonne,...Read More
Seaborne coking coal prices were relatively steady across the board on Monday August 31, though China's domestic coke market might strengthen soon amid tight supply.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.59 per tonne, down $0.31 per tonne Premium hard coking coal, cfr Jingtang: $114.83 per tonne, up $0.12 per tonneHard coking coal, fob DBCT: $85.93 per tonne, up $0.66 per tonn...Read More
China imported nearly 7.37 million tonnes of coking coal in July, an increase of 17.8% from the previous month, Chinese customs data showed.The increase in coking coal imports is in line with China's steel output in July, which hit a record high.But China's coking coal imports for July were 4.9% lower than the 7.75 million tonnes brought...Read More
Prices for seaborne iron ore pellets softened in the week ended Friday August 28 on reduced demand but those for concentrate edged up.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $131.87 per tonne, up $1.87 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $138.17 per tonne, down $1.10 per tonne.Key driversFew mills bought seaborne pellets last week, which kept inventory levels a...Read More
China's hot-rolled coil prices rose on Monday August 31, which led a major mill in northern China to raise its export offer by $10 per tonne.DomesticEastern China (Shanghai): 4,040-4,050 yuan ($589-590) yuan per tonne, up 30-50 yuan per tonneSellers in Shanghai raised their prices amid surging futures, although several sources in the city said trading activity was merely moderate in the spot marke...Read More
China's domestic rebar prices moved up on Monday August 31 on stronger demand among stockists and a strengthening of the billet market.Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($535-540) per tonne, up by 30 yuan per tonneRebar demand is expected to rise in the next two months when consumption typically experiences a seasonal peak amid milder weather.The absence of any major calamities s...Read More
A revival of spot trading activity amid an improving auto industry and a drop in cheap imports sent US silicon prices close to 2020's year-to-date high.The rising price of secondary aluminium alloys, the main end market for the 5-5-3 grade silicon metal Fastmarkets prices in the United States, also drew the raw material up in its wake. Fastmarkets assessed the price for silicon, ddp US, at 94-97 c...Read More
Key data from the Friday August 28 pricing session in Shanghai.Key drivers Exporters raised their offers following gains in the domestic market; domestic prices are said to be around 10,300-10,400 yuan ($1,499-1,514) per tonne, compared with around 10,200-10,300 yuan...Read More
Spot cobalt hydroxide payables consolidated last week amid a slowdown in trading activity, with buyers and sellers both unwilling to compromise in order to secure deals. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, held at 76.5-77% of the price for cobalt standard grade (low-end) on Friday August 28. The raw materials price has been unchanged for three consecutive pricin...Read More
Markets were for the most part upbeat this morning, Tuesday September 1, with all the metals on the London Metal Exchange firmer, as were pre-market major western equity index prices.China’s Caixin manufacturing purchasing managers’ index (PMI) beat expectations with a reading of 53.1 for August, compared with 52.8 in July. This was enough to send three-month LME copper prices to levels...Read More
U.S. equity index futures were mostly higher this morning. S&P 500 futures were up 7 points in pre-opening trade. Zoom advanced $11.90 to $238.00 after reporting higher than consensus second quarter revenues and earnings. The company also raised guidance. JP Morgan and Stiffel Nicolaus raised their target price on the stock.Eastman Kodak gained $1.89 to $7.87 on news that DE Shaw acquired a 5....Read More
Here are five Fastmarkets stories you might have missed on Friday August 28 that are worth another look.South American flat-rolled steel import prices ended the week on August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.The first...Read More
Here are five Fastmarkets stories you might have missed on Friday August 28 that are worth another look.South American flat-rolled steel import prices ended the week on August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.The first...Read More
Here are five Fastmarkets stories you might have missed on Friday August 28 that are worth another look.South American flat-rolled steel import prices ended the week on August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.The first...Read More
Sanjeev Gupta, Executive Chairman of steel and aluminium investment company GFG Alliance, will head the roster at the London Metal Exchange's virtual seminar this year, the LME announced on August 28.The virtual seminar will start on Monday October 19, 2020 and replaces the annual LME week gathering of metal market participants in London, which has been canceled amid the Covid-19 pandemic.Gupta ha...Read More
The European Commission (EC) has started an expiry review of anti-dumping measures on imports of cold-rolled flat stainless steel from China and Taiwan.The request for an expiry review was lodged by the European steel association Eurofer on May 27 this year."The request is based on the grounds that the expiry of the measures would be likely to result in continuation or recurrence...Read More
The steel recycling division of Tata Steel has announced it is launching a mobile app for sourcing steel scrap in India, the company said on August 19.The app - named FerroHaat - claims to be a world first and aims to source steel scrap from traders in India. The app is a step toward organizing the currently disorganized Indian scrap supply chain,while also providing a reliable source of scrap met...Read More
Here are five Fastmarkets stories you might have missed on Friday August 28 that are worth another look.South American flat-rolled steel import prices ended the week on August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.The first...Read More
Here are five Fastmarkets stories you might have missed on Friday August 28 that are worth another look.South American flat-rolled steel import prices ended the week on August 28 showing no clear trend because deals for October-shipment cargoes were very scarce, and customers were still waiting to hear offers for November shipments.The first...Read More
Plans for a London Metal Exchange spot trading platform have sparked intense debate within the aluminium industry. But opponents and supporters don't necessarily fall into the camps that one might expect. For starters, a decision by the LME not to change its futures contract, establish a new green aluminium contract or set thresholds to define what constitutes low-carbon metal is proving key in st...Read More