Prices for steel scrap imported to Bangladesh remained on a downtrend over the last week amid a supply-demand imbalance in global markets, sources told Fastmarkets on Thursday March 18."The number of scrap cargoes available is currently higher than the number that markets such as Turkey are willing to buy. This means it's possible that United States sellers are under pressure to sell some material...Read More
The seaborne premium hard coking coal price in the fob market inched down amid a stable cfr market on Thursday March 18 because buyers in China were concerned about Mongolian coking coal exports to China, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.78 per tonne, down $1.65 per tonnePremium hard coking coal, cfr Jingtang: $212.86 per tonne, unchangedHard coking coal, fo...Read More
Iron ore prices increased slightly on Thursday March 18, after China announced that the emissions restrictions being imposed in Tangshan will be less strict than previously anticipated, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $166.62 per tonne, up $0.43 per tonne62% Fe low-alumina fines, cfr Qingdao: $166.98 per tonne, up $0.71 per tonne58% Fe fines high-grade premium,...Read More
Atlas Commodities expects more ferrous scrap from the United Kingdom to be sold to China from now on."We expect demand for containerized scrap from China to grow significantly in coming months, underpinned by robust steel demand from the economic recovery in China," the commodity brokerage firm's chief executive officer Harry Seale told Fastmarkets on Thursday March 18.Atlas Commodities on Wednesd...Read More
Chinese market participants expect steel output to stay high in March amid a profit recovery, even after the government ordered mills in Tangshan to cut production for environmental protection, Fastmarkets heard.On March 11, Huang Runqiu, minister of ecology and environment, visited four mills in Tangshan - the steelmaking hub in northern China - and found all of them had been running at high oper...Read More
China's domestic hot-rolled coil prices edged up on Thursday March 18 but the market was inactive amid concerns over a possible export tax rebate cut.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($761-766) per tonne, up 10-20 yuan per tonneSeveral Shanghai-based trader said they raised their offers in response to rising futures, but found it hard to secure orders.One of the traders said some...Read More
China's domestic rebar prices increased on Thursday March 18 on falling spot inventory levels and a slight pick-up in demand following early-hour gains in the futures market.DomesticEastern China (Shanghai): 4,700-4,720 yuan ($724-727) per tonne, up 20 yuan per tonneRecovering end-user demand has resulted in Inventory levels in the spot market declining gradually this week, sources said.Mills' del...Read More
China's stainless steel market maintained its downward trend in the week to Wednesday March 17 amid pressure on sellers to reduce their inventories. Nickel prices failed to recover from the steep plunge at the start of this month, which kept sentiment bearish in the stainless steel market. The three-month nickel contract on the London Metal Exchange ended the official session on Wednesday at $16,0...Read More
Key data from Fastmarkets' pricing session in London on Thursday March 18.Key drivers Cobalt prices continue to move lower. Some sellers were open to lower bids and were happy to take profit on units bought earlier in the year, when prices were significantly lower. The price for cobalt, standard grade, in-whs Rotterdam, began 2021 at $15.30-15.90 per lb, with the alloy-grade price at...Read More
Manganese flake prices in Europe climbed in the first half of the week to Wednesday March 17 after most producers in China said that they would suspend their operations until the end of April, market sources told Fastmarkets.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 2.8% on March 17 to $2,630-2,800 per tonne from the March 12 assessm...Read More
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, $/lb at 24.40-25.40...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...Read More
Key data from the pricing session in London on Wednesday March 18.Key drivers Prices in Europe were supported amid prompt material tightness after some delays to deliveries and logistical disruptions. There was an uptick in activity over the last two weeks, with increasing interest from traders in Europe and the United States but also some Chinese traders approaching the European market looking fo...Read More
Battery recycling start-up Li-Cycle sees the commercial production achieved at its Rochester, New York, plant as the start of something big.The plant, which achieved commercial production last December, has dthe capacity to process 5,000 tonnes of end-of-life lithium-ion batteries per year, doubling overall intake for the Canadian company, which is the first of its kind to use hydrometallurgy for...Read More
Manganese flake producers in China will broadly suspend their operations and put their facilities under maintenance from late March till the end of April to upgrade emissions controls in their smelters, market sources told Fastmarkets on Thursday March 18.The decision was made during an industrial gathering last weekend to align with China's ambition to conserve energy and reduce pollution, source...Read More
"Gassy" Canadian energy stocks are under technical pressure after Chevron discontinued funding of the Kitimat gas liquidation project. ARC Resources moved below intermediate support at $7.37. Pre-opening Comments for Friday March 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US80...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 17 that are worth another look.The volume of Southeast Asian steel billet available to importers across Asia is on the rise following new capacity upgrades at key suppliers in Indonesia and Vietnam, sources told Fastmarkets.Treatment charges (TCs)...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 17.Please click...Read More
Fastmarkets has renamed its China alumina assessment as ex-works (exw) China, from delivered duty paid (ddp) China, effective Wednesday March 17.This corrects a labeling error that had been in place since the launch of the alumina metallurgical grade assessment in September 2006. Current and historical data reflects alumina metallurgical...Read More
Fastmarkets has renamed its China alumina assessment as ex-works (exw) China, from delivered duty paid (ddp) China, effective Wednesday March 17.This corrects a labeling error that had been in place since the launch of the alumina metallurgical grade assessment in September 2006. Current and historical data reflects alumina metallurgical...Read More