Seaborne hard coking coal prices increased on Tuesday June 1 following Monday's jump in the premium hard coking coal cfr price and with support from a lack of spot volumes. And sources said that major mills in east China have proposed a first round of coke price cuts this year by 120 yuan ($19) per tonne.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.44 per tonne, down by $0.45 per to...Read More
Fastmarkets invites feedback on its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 1, 2021, seeks to ensure that our methodology continues to reflect the physical market under the price as...Read More
Leaders of the Group of Seven (G7) countries have reaffirmed their commitment to fair trade and criticized the use of subsidies that create excess capacity, including in steel and aluminium.In a joint statement issued at the virtual G7 Trade Track meeting on May 28, the governments of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States called for the start of talks to d...Read More
Steel slab prices from the Commonwealth of Independent States region showed some signs of softening in the week to Tuesday June 1, despite the fact that mills have not been active in the market."It is too early. [According to what I have heard,] they will not make any offer before June 10," one trader said.A producer from Russia said that it was not offering any material at the moment, but if it w...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
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
Hot-rolled coil prices held above $80 per hundredweight ($1,600 per ton) for the sixth consecutive business day after market participants said that there continues to be more demand than the spot market can supply in the next couple months.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $80.08 per cwt ($1,601.60 per short ton) on Tuesday June 1, a decrease of 0.46% fr...Read More
Turkish steel producers remained quiet in the deep-sea scrap market and instead continued to focus on finished steel, sources told Fastmarkets on Tuesday June 1.The most recent deep-sea trade was done at the end of last week, when a steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr.The US cargo resulted a furth...Read More
Mineral sequestration could be used to develop the world's first-ever carbon-neutral nickel mine, according to the president of Giga Metals Corp, which is developing the Turnagain project in British Columbia, Canada.Martin Vydra said that its Turnagain project is on a path to achieving carbon neutrality without having to purchase carbon credits, according to test results conducted on mineralized m...Read More
The seaborne premium hard coking coal price in the cfr market jumped on Monday May 31, with a deal heard done at $275 per tonne cfr China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.89 per tonne, up $1.09 per tonnePremium hard coking coal, cfr Jingtang: $284.65 per tonne, up $21.19 per tonneHard coking coal, fob DBCT: $129.95 per tonne, unchangedHard cokin...Read More
London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More
Mineral sequestration could be used to develop the world's first-ever carbon-neutral nickel mine, according to the president of Giga Metals Corp, which is developing the Turnagain project in British Columbia, Canada.Martin Vydra said that its Turnagain project is on a path to achieving carbon neutrality without having to purchase carbon credits, according to test results conducted on mineralized m...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum.* Brent crude oil is back above $70 per barrel, the highest it has been for two years. * Tuesday’s manufacturing purchasing managers’ index (PMI) d...Read More
Turkish steel producers remained quiet in the deep-sea scrap market and instead continued to focus on finished steel, sources told Fastmarkets on Tuesday June 1.The most recent deep-sea trade was done at the end of last week, when a steel mill in the Marmara region booked a US cargo, comprising HMS 1&2 (80:20) at $503 per tonne and shredded scrap at $513 per tonne cfr.The US cargo resulted a furth...Read More
London Metal Exchange prices were mostly unchanged on the first trading day of this month, but maintained the bullish tone they struck at the end of May at the close on Tuesday June 1, given a release of positive economic data."A short-lived pullback seen in the base-metals complex suggests that underlying sentiment remains very bullish, with dip buyers welcoming lower prices with open arms," Fast...Read More
Austria Metall AG (AMAG), a producer of aluminium cast and flat rolled material has shipped its first aluminium certified under the Aluminium Stewardship Initiative (ASI) chain of custody standard, the company has said, with the customer being German carmaker Audi.The metal has been sent to the Audi plant in Neckarsulm, Germany, and will be used for the outer body sheet of the tailgate for the A6...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade. Zoom Video advanced $6.68 to $334.00 after reporting higher than consensus first quarter revenues and earnings. Deutsche Bank raised its target price from $360 to $375. IMAX dropped $0.34 to $21.93 after Goldman Sachs downgraded the stock to SellFedEx added $1.26 to $312.11 after JP Morga...Read More
Import prices for steel scrap in China remained unchanged on Tuesday June 1, despite Monday's suggestion that steelmaker emissions cuts in the steelmaking hub of Tangshan could be eased to 20-30% from 30-50%.Buyers continued to hold mixed views for the imported scrap market on June 1. Some buyers in north China started to show more interest in booking scrap cargoes compared with last week, after t...Read More
Most prices on the London Metal Exchange were up on the morning of Tuesday June 1, following a steady end in May and notable stock movements for lead and aluminium in LME warehouses.The LME three-month copper price rose to $10,333 per tonne on Tuesday morning, up from $10,258 per tonne on Friday - a further 4% rise on the Monday May 24 close. The possible supply disruptions out of South America -...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More