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, in-whs Rotterdam,...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...Read More
As the world's media spotlight falls on Afghanistan, Fastmarkets looks at why reported claims of incoming Chinese mining deals are unlikely to be fulfilled soon.Mes Aynak, Afghanistan's most well-known copper project, means "small copper deposit" in Pashto. Indications suggest it is anything but.The deposit holds 240 million tonnes of 2.3% grade copper ore, according to the United States Geologica...Read More
Aluminium's three-month price on the London Metal Exchange, backed by a constrained physical market, was just $5.50 per tonne short of its latest year-to-date high on Tuesday August 24, with nickel and zinc also climbing back above key psychological levels while most commodities and equities ticked upward.Aluminium's futures contract showed an intraday high of $2,636.50 per tonne on Tuesday, just...Read More
The spread between prices for 65% Fe iron ore and 62% Fe products have narrowed rapidly in recent weeks due to the former weakening at a faster pace than the latter.This has resulted in a mixed long-term outlook for high-grade fines, market sources told Fastmarkets.Narrowing spreadAs hints of the central Chinese government's intention of keeping this year's output from exceeding last year's began...Read More
Domestic rebar producers in the United Arab Emirates reduced their prices on Tuesday August 24 amid low demand, sources told Fastmarkets.Demand was low because of the summer slowdown and falling prices; buyers preferred to wait to determine how much further prices will fall.The country's biggest producer, Emirates Steel, offered rebar at 2,610 dirhams ($710.46) per tonne, down from 2,957 dirh...Read More
Seaborne coking coal prices maintained their upward trend in the cfr China market amid continuous supply tightness on Tuesday August 24. The fob market increased amid stable buying interest, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $386.83 per tonne, up $5.10 per tonne Hard coking coal, cfr Jingtang: $356.68 per tonne, up $3.78 per tonne Premium hard coking...Read More
As the world's media spotlight falls on Afghanistan, Fastmarkets looks at why reported claims of incoming Chinese mining deals are unlikely to be fulfilled soon.Mes Aynak, Afghanistan's most well-known copper project, means "small copper deposit" in Pashto. Indications suggest it is anything but.The deposit holds 240 million tonnes of 2.3% grade copper ore, according to the United States Geologica...Read More
Gonzalo Cuadra will retire from his role as commercial representative in Europe for Chilean copper producer Codelco after almost three decades with the company, according to an announcement circulated among customers on Tuesday August 24.Jos?(C) Ignacio P?(C)rez Paredes, who has been on the company's team in London since 2018 and with Codelco for 10 years, will succeed Cuadra as chief executive of...Read More
Hot-rolled coil (HRC) import prices to Saudi Arabia increased during the week ending Tuesday August 24; the market in the United Arab Emirates (UAE) was stable, sources told Fastmarkets.The market was slow in the UAE due to the summer season as well as to a lack of new projects, sources said.Saudi ArabiaChina offered HRC at $1,020-1,040 per tonne cfr Saudi Arabia, unchanged since last week.India o...Read More
China's domestic rebar market continued to push upward on Tuesday August 24, but the higher prices are weighing on buying interest. DomesticEastern China (Shanghai): 5,200-5,230 yuan ($802-807) per tonne, up by 60-70 yuan per tonneSpot prices rode the surge in the rebar futures market during the day, though this resulted in a slight drop in demand, sources said.Trading companies that actively...Read More
Iron ore prices largely increased on Tuesday August 24 with active trading at China's ports.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $146.13 per tonne, up by $9.42 per tonne62% Fe low-alumina fines, cfr Qingdao: $147.96 per tonne, up by $10.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $113.91 per tonne, up by $7.27 per tonne65% Fe Brazil-origin fines, cfr Qingdao: $166.1...Read More
Turkish steel mills continued to stay away from the deep-sea scrap import markets for the second working day of the week amid limited finished steel sales, market participants told Fastmarkets on Tuesday August 24.The most recent deep-sea trade was reported at the end of the week to August 20, when a steel mill in the Iskenderun region booked a United States cargo composed of 20,000 tonnes of HMS...Read More
Members of the Sisan trade union for supervisors at the Andina copper mine have agreed to the latest labor offer from Codelco, the Chilean state-owned company said on Tuesday August 24.While the supervisors agreed to no increase in wages, they have settled for a one-off bonus of 5.07 million pesos ($6,453) per person, with 92% of union members voting for the deal, the company added. The supervisor...Read More
Hot-rolled coil (HRC) import prices to Saudi Arabia increased during the week ending Tuesday August 24; the market in the United Arab Emirates (UAE) was stable, sources told Fastmarkets.The market was slow in the UAE due to the summer season as well as to a lack of new projects, sources said.Saudi ArabiaChina offered HRC at $1,020-1,040 per tonne cfr Saudi Arabia, unchanged since last week.India o...Read More
Initial offers for fourth-quarter supply of aluminium to main Japanese ports (MJP) are at a premium of $230 per tonne to the London Metal Exchange cash price, market participants told Fastmarkets on Tuesday August 24.The unconfirmed offer from this producer is 28.9% higher than the cif MJP premium for the third quarter, which settled at $172-185 per tonne.For the fourth quarter of last year,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 24 that are worth another look....Read More
Prices for hot-rolled coil in the United States were virtually unchanged while order flow slowed on Tuesday August 24, with mills still discerning their next round of spot pricing and service centers reluctant to restock at current levels. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.55 per hundredweight ($1,931 per short ton) on August 24, little-changed from...Read More
A summary of the financial and performance results for China Molybdenum for the first half of 2021, published on Monday August 23.In briefRevenue from the company's mining and processing business totaled 84.82 billion yuan ($13.07 billion) in the first half of 2021, up by 81.45% year-on-year. Net profit was 2.41 billion...Read More
A summary of China's base metals imports for July 2021, according to Chinese customs data released on Friday August 20.Copper ore and concentrateJuly total: 1.89 tonnes, up by 12.9% month on month, up by 5.1% year on yearYear to date: 13.39 million tonnes, down by 10% year on yearRefined copperJuly total: 270,054 tonnes, down by 2.6% month on month, down by 52.5% year on yearYear to date: 2.07 mil...Read More