An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 21 and their latest price moves.China The imported charge chrome market rose strongly on supply tightness in China, due to falling domestic production following electricity restrictions. The UG2 chrome ore market stayed stable, with cost support holding prices in balance against falling consu...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
Tantalum concentrate prices fell in the week to Friday September 17, due to reduced prompt demand, which has triggered intense competition among suppliers to secure sales, sources told Fastmarkets.Fastmarkets' price assessment for tantalite, basis 25% min Ta2O5, cif China was $83-88 per lb. per lb on Friday, down by 5% from a week earlier, when the price stood at $88-92 per lb.The price has b...Read More
Standard-grade cobalt metal was trading at a premium over alloy-grade for the first time since March on Monday September 20 amid spot demand in Europe for tightening briquette and broken cathode supply.Fastmarkets' daily price assessment for cobalt standard grade, in-whs Rotterdam was $24.60-25.00 per lb on Monday, up from $24.45-25.00 per lb on the previous Friday.This marks the first time t...Read More
ArcelorMittal is preparing to invest $100 million from its innovation fund into a company founded by Bill Gates, best known as the founder of Microsoft, to develop decarbonization technologies, it announced on Monday September 20.The $100 million equity investment in Gates' Breakthrough Energy will be made over five years via ArcelorMittal's XCarb innovation fund, and will go toward scaling-up the...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday September 21 with uncertainty related to Chinese construction company Evergrande continuing to cast a shadow over the market."This week's sell-off was triggered by a sharp negative turn in global risk sentiment, with the world keeping a close eye on the collapse of Chinese property developer Evergrande and trader...Read More
Mexican ferrous scrap prices posted widespread declines in the week ended on Friday September 17 despite steady demand in the country.Almost all scrap buyers reduced their prices during the week, with most reductions ranging from 300-500 pesos ($15-25) per tonne, market participants said.The movement was believed to be a lagged response to lower ferrous scrap prices in the United States due t...Read More
Seaborne iron ore prices were largely flat on Tuesday September 21 with limited trading activity in the physical market taking place amid a Chinese holiday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.03 per tonne, up $0.05 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.96 per tonne, down $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.87 per tonne, up $0.14 p...Read More
The market for steel rebar and billet in the United Arab Emirates was silent in the week to September 21 because buyers were waiting for new local rebar prices to be announced, sources told Fastmarkets.Most market participants expect prices to follow the global downtrend.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $700-710 per tonne on Sep...Read More
CIS wire rod export prices had an up-and-down week in the seven days to Monday 20 September, particularly in Russia, where mill offer prices went in different directions, sources told Fastmarkets.Russia's Abinsk Electric Steel Works continued to drop its offer prices to attract customers and outflank competitive offers from Turkey.The most recent offers from the mill were heard at $767-772 per ton...Read More
Base metals prices have generally been under pressure in recent days while broad-based risk-off has weighed on the market, but the metals were looking more mixed on the morning of Tuesday September 21, suggesting consolidation after Monday's average loss of 1.6% across the London Metal Exchange base metals. The risk-off sentiment seems to be tied in with concerns about whether Chinese property gia...Read More
Activity in the Asian import markets for steel billet has been stifled over the past few days amid continued weak demand in the Philippines market and China's Mid-Autumn Festival holiday, sources told Fastmarkets on Tuesday September 21.Offers from traders for 125mm 5sp-grade billet, made of steel from electric-arc furnaces (EAFs) and originating from Russia's Far East province, were heard at $700...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Seaborne iron ore prices were largely flat on Tuesday September 21 with limited trading activity in the physical market taking place amid a Chinese holiday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.03 per tonne, up $0.05 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.96 per tonne, down $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.87 per tonne, up $0.14 p...Read More
Activity in the Asian import markets for steel billet has been stifled over the past few days amid continued weak demand in the Philippines market and China's Mid-Autumn Festival holiday, sources told Fastmarkets on Tuesday September 21.Offers from traders for 125mm 5sp-grade billet, made of steel from electric-arc furnaces (EAFs) and originating from Russia's Far East province, were heard at $700...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
Here are five Fastmarkets stories you might have missed on Friday September 17 that are worth another look.A dire shortage of truck drivers and rail cars and unforeseen levels of demand while businesses reopen from Covid-19 pandemic-related shutdowns are among the factors contributing to the current logistics woes in the United States that have sparked...Read More
The European charge and high-carbon ferro-chrome benchmark for the fourth quarter of 2021 has leapt to $1.80 per lb Cr, a jump of 24 cents per lb (15.38%) from the second and third quarters.The settlement is announced every quarter by Merafe Resources, which operates a chrome joint venture with trader-miner Glencore in South Africa.The benchmark is a forward-looking price for the coming quarter. I...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More