Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
Chinese aluminium market sentiment dipped in the morning of Wednesday June 16 after the National Food & Strategic Reserves Administration announced moves to calm the overheated commodity market, yet optimism remains for aluminium's price performance in the second half of 2021. China announced on Wednesday it will release its national base metals reserves in the near term to stabilize commodity pri...Read More
Base metals prices weakened further during morning trading on the London Metal Exchange on Wednesday June 16, on news that the Chinese state reserve will sell copper, aluminium and zinc to ensure price stability. The three-month zinc price was down by 1.9% at 9am on Wednesday to $2,972 per tonne from its previous closing price of $3,029 per tonne. The metal had resisted sharp falls across the comp...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...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 alloy grade, in-whs Rotterdam, $/lb at 20.10-20.70 on...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More
European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of downstream steel users, Fastmarkets learnt on Wednesday June 16.On June 11, the EC presented a draft document of the adjusted measures to member states, suggesting a three-year...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Deteriorating shipping conditions and a continuing lack of production from the giant Malaysia Smelting Corp pushed Western tin premiums to new peaks in the week to Tuesday June 15.US premiums routinely surpass $3,000 per tonneEuropean traders foresee further rises from MSC, soaring shipping costsCovid-19 pandemic factors into subdued trade in Taiwan.US buyers shocked by premiumsTin premiums in the...Read More
There will be multiple routes taken to achieving net-zero emissions targets in the steel sector, not just one fix, the chief executive officer and managing director of India-based Tata Steel has said.According to TV Narendran, meeting decarbonization targets will be a challenge, but it is achievable."The transition isn't going to be easy or cheap - there are multiple solutions. I don't think there...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade. Response to the Federal Reserve's announcement on interest rates continued this morning. The U.S. Dollar Index extended gains recorded late yesterday. Gold dropped an additional $62.80 to $1,798.80 per ounce.Investors were waiting for announcement of economic news this morning. The June...Read More
Low offers for seaborne premium hard coking coal caused prices to drop in the cfr market on Wednesday June 16, while hard coking coal fob rose on buying interest.High transaction prices and positive market sentiment are supporting the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $173.86 per tonne, up $1.59 per tonnePremium hard coking coal, cfr Jingtang: $282.04...Read More
An overview of the consumer electronics markets and their latest price moves.Dalila Ouerghi and Cristina Belda...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 16 that are worth another look.European non-integrated steel traders and wire rod processors strongly oppose the European Commission's proposal to extend import safeguard measures for three more years, claiming that the decision neglects the interests of...Read More
Turkish steel mills remained silent in the scrap markets on Wednesday June 16, with market participants mulling the likely direction of price movements.The mills did not book any new cargoes on Wednesday, having agreed two deals the day before at lower prices, marking a potential change in direction for the market, which had become more positive so far in June.One market participant said, however,...Read More
Premiums for spot zinc material were stable in the week to June 15, with the US premium for lead holding at an all-time high. Zinc premiums in Europe are at their highest since 2019 due to low availability of spot material, but may drop in summer 2021. US lead premiums continue at their peak of 14.50-16.50 cents on tight supply and logistics issues, with the latter also affecting the European zinc...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2021.In briefEarnings increased in line with increased production of flat steel, specifically hot-rolled coil, and exports, the company said in a release to London Stock Exchange on Wednesday June 16."With respect to flat steel, a significant development has occurred in t...Read More
A correction has been issued for this article. The...Read More