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.Fastmarkets assessed Cobalt standard grade,...Read More
Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.?EUR?Turkish steel mills end the week with five deep-sea cargo trades, prices up?EUR?Tight supply in t...Read More
The price for grade 18/8 alloy steel scrap increased due to higher nickel costs, while underlying market fundamentals remained stable, sources told Fastmarkets on Friday October 22.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,340-1,440 ($1,850-1,988) per tonne on Friday, up by ?10-40 per tonne from ?1,330-1,400 per tonne the...Read More
China's domestic rebar prices fell sharply on Friday October 22 following a drop in the futures market, but the lower prices stimulated an increase in buying interest.DomesticEastern China (Shanghai): 5,300-5,350 yuan ($829-837) per tonne, down by 330 yuan per tonneNorthern China (Beijing) weekly assessment: 5,240-5,270 yuan per tonne, down by 360-380 yuan per tonneThe January rebar futures contra...Read More
Unites States steelmaker Cleveland-Cliffs plans to increase its share of the US domestic prime scrap market amid increasing demand and the failure of the country's own manufacturing supply to keep up, the company's chairman, president and chief executive officer said.Lourenco Goncalves told a conference call for the Cleveland, Ohio-based company's third quarter earnings that the company didn't hav...Read More
Prices for cold-rolled and galvanized steel sheet in the United States edged lower on Thursday October 21 after remaining flat for several weeks.Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US stood at $108 per cwt ($2,610 per ton) on October 21, down by 1.82% from $110 per cwt on October 14 but up by 166.67% from $40.50 per cwt one year earlier.Fastmarkets' assessment for s...Read More
Indian domestic prices for steel hot-rolled coil have risen by about 1,500 rupees ($20) per tonne in the week to Friday October 22, with most mills announcing price rises.Mills raised their HRC prices with demand increasing on active restocking by traders and a sharp increase in spot prices.Mills had raised their domestic HRC prices by about 1,000 rupees per tonne in the second week of October.The...Read More
A sharp drop in domestic billet and rebar prices over the past few days in China resulted in a change of mood in the Commonwealth of Independent States' export billet market, sources told Fastmarkets.Fastmarkets' price assessment of steel reinforcing bar (rebar) domestic, ex-whs Eastern China was 5,300-5,350 ($828.46-836.28) yuan per tonne on Friday October 22, down by 330 yuan per tonne day on da...Read More
Base metals prices on the London Metal Exchange mostly rebounded during morning trading on Friday October 22, with aluminium the lone metal in negative territory.Aluminium's volumes were by far the highest this morning, with over 11,500 lots traded by 9.30am London time, compared with just 5,145 lots of copper. Despite closing down by 5% on Thursday, the LME three-month aluminium price continued t...Read More
Changes to deliverable stocks of base metals in Shanghai Futures Exchange warehouses were mixed during the week to Friday October 22, with aluminium increasing the most in percentage terms and tin leading the declines.Aluminium inventories grew by 20,657 tonnes, or 8.3%, week on week to 269,582 tonnes, from 248,925 tonnes previously, with stocks in warehouses in Henan, Guangdong and Jiangsu region...Read More
Spot prices for hot-rolled coil in China fell sharply on Friday October 22 following the tumble in futures prices on Thursday triggered by Beijing's moves to rein in soaring coal prices.Domestic Eastern China (Shanghai): 5,550-5,600 yuan ($869-877) per tonne, down by 150-160 yuan per tonne Northern China (Tangshan) weekly assessment: 5,550-5,620 yuan ($869-880) per tonne, down by 160-170 yu...Read More
Vale has restarted a conveyor belt at its Salobo copper mine in Brazil following an 18-day stoppage due to a fire, the multi-metal producer said on Friday October 22.Activities at the site's processing plant resumed on Friday, and the company will subsequently ramp up copper concentrate output on Monday October 25.An estimated 8,000 tonnes of copper production was lost because of that downtime, Va...Read More
Mexico's Altos Hornos de M?(C)xico (Ahmsa) is considering seeking Chapter 11 bankruptcy protection for its Minera del Norte thermal coal subsidiary, after a Mexican commission canceled state supply contracts, the company said on Thursday October 21.Minera del Norte - also known as Minosa - is a wholly-owned subsidiary of the Mexican steelmaker and has the capacity to produce 6.6 million tonnes per...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 assessed Cobalt hydroxide p...Read More
The spot copper concentrate processing charge continued to drop for the fourth consecutive week. Fastmarkets assessment of the copper concentrate treatment charge/ refining charge (TC/RC) stayed below $60/6 with a lack of liquidity and spot appetite. Smelters' purchase TC was assessed at mid-to-low $60s while traders' purchase TC was at low $50s for standard material. ...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 22.Jessica Long, Zihao Li and Ruby...Read More
Carbon steel plate prices in the United States were stable on Friday October 22 but are expected to go up next week, since Nucor announced a price increase Friday that market participants believe will be accepted.Fastmarkets' cut-to-length plate, fob mill US price was assessed at $89 per hundredweight ($1,780 per short ton) on Friday, flat since October 1 and at an all-time high.Inputs ranged...Read More
Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down - this follows significant losses on the LME on Thursday.Chinese property giant Evergrande Group makes a dollar bond interest payment.US treasury yields up sharply following better-than-expected US initial jobless claims data...Read More
London Metal Exchange base metals prices were mostly lower at the 5pm close on October 22, with investors looking to book profits from peaks reached earlier in the week. Aluminium's three-month price rolled back most of the gains made so far this month, with its closing price on Friday at 5pm, at $2,868 per tonne, being the lowest since October 6, with more than 37,000 lots traded. The metal...Read More
Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.A trade was finally heard in the fob spot market on Friday. And China's National Development & Reform Commission (NDRC) held a meeting during the morning to work out plans to tackle high coal...Read More