Chinese import prices for high-grade heavy scrap (HS) have continued to increase, with a transaction concluded for a 3,000-tonne HS cargo from South Korea this week, sources said on March 2.One bulk cargo was sold into China at $495 per tonne cfr and was purchased by a trader who has backing from a steel mill, sources said.Another transaction was heard at $490 per tonne cfr China for 3,000 tonnes...Read More
The first deals for the supply of aluminium ingot to main Japanese ports (MJP) for the second quarter have been concluded at a premium of $149 per tonne cif MJP, market sources told Fastmarkets on Tuesday March 2.The first deal - at a premium of $149 per tonne to the London Metal Exchange cash price - was concluded between a producer and a Japanese trader for 500-1,000 tonnes per month from April...Read More
Chinese buyers paid higher prices for nickel ore and nickel pig iron (NPI) last week amid tight supply and costlier freight. Prices for 1.5% nickel ore rose to new highs amid the uptrend.Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China at $78-81 per tonne last Friday February 26, up by $12-13 (18.7%) per tonne from $66-68 per tonne a week earlier. This is the highest...Read More
Salesforce.com (CRM), a Dow Jones Industrial Average stock moved below $212.99 extending an intermediate downtrend. Pre-opening Comments for Wednesday March 3rdU.S. equity index futures were higher this morning. S&P 500 future added 9 points in pre-opening trade. Index futures moved slightly lower following release off the March ADP Private Employment Report at 8:15 AM EST. Consensus was...Read More
Here are five Fastmarkets stories you might have might have missed on Monday March 1 that are worth another look.Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry...Read More
The price of tin fell throughout the day on Monday March 1 to its lowest in two weeks at the close of trading on the London Metal Exchange, while the fortunes of the rest of the base-metals complex was mixed following strong losses on the previous Friday.Tin's three-month price was down to $23,460 per tonne on March 1, its lowest 5pm closing price since February 12.The metal was rallying until Fri...Read More
Fastmarkets plans to launch two new prices on a CIF China, Japan and Korea basis - nickel sulfate, cif China, Japan and Korea, $ per tonne, and nickel sulfate premium, cif China, Japan and Korea, $ per tonne.Fastmarkets Research estimates that the current demand for class 1 nickel units for use in electric vehicle (EV) batteries accounts for a minimal 3-4% market share, but this is forecast to inc...Read More
The latest data for the global manganese ore market for the week ended March 1, 2021.Read More
Seaborne manganese ore prices rose again in the week to Friday February 26, after some suppliers raised offer prices due to increasing freight costs, the stronger South African rand and expectations of lower South African exports in the coming weeks.Fastmarkets' manganese ore index 37% Mn, cif Tianjin rose by $0.12 week on week to $4.77 per dry metric tonne unit (dmtu) on Friday, up from $4.65 per...Read More
China's leading stainless steel producers, Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel, have all raised their high-carbon ferro-chrome tender prices for March delivery by 700 yuan ($108) per tonne from the prior month. The latest tenders issued by Tisco, Tsingshan and Baosteel are 8,700 yuan per tonne, 8,896 yuan per tonne and 8,900 yuan per tonne respectively, marking an increase o...Read More
Here are five Fastmarkets stories you might have might have missed on Monday March 1 that are worth another look.Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry...Read More
Several minor metals prices found substantial support in the week ended Friday February 26 from higher offers from China and limited stocks in Rotterdam. "Suppliers in China seem to be trying their luck at putting every price up," a European trader said. "There are not that many fundamental reasons for it, but I think they have taken note of general optimism in the commodity space and talks of a s...Read More
Turkish domestic scrap prices have gone up over the past week because of increasing imported scrap values, market sources said on Monday March 1.Prices for steel scrap imported into Turkey continued to rise after mills in the country booked a number of cargoes from Europe, the United States and the Baltic Sea region in the past week, supported by growing demand and rising prices for rebar and bill...Read More
Prices for rebar imports into Singapore continued on an upward trend in the week to Monday March 1 on bullish sentiment caused by rebounding scrap prices and higher offers from key suppliers, sources told Fastmarkets.Major steel mills in China and Turkey increased offers to $675-685 per tonne cfr Singapore on a theoretical weight basis, on the fast rebound of ferrous scrap prices around the world....Read More
United States-based lithium producer Livent will supply battery-grade lithium carbonate and hydroxide to German carmaker BMW.Paul Graves, the miner's president and chief executive officer, made the announcement during an earnings call following the release of Livent's financial results for the fourth quarter of 2020."This is a multi-year agreement under which Livent will deliver both lithium carbo...Read More
China's nickel sulfate price continued rise in the week to Friday February 26 to reach a new record high, mainly driven by the volatile nickel price at the London Metal Exchange and limited supplies, sources told Fastmarkets.Fastmarkets' price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China was at 35,000-38,000 yuan ($5,414-5,878) per tonne on Friday February 26, up b...Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased over the week to Friday February 26, supported by long lead times from domestic mills and good demand.At the end of last week, ArcelorMittal pushed its official offers for downstream products up by ?,?20 ($24) per tonne, but kept offers for HRC unchanged at ?,?750 ($905) per tonne ex-works.Some sources, however, had heard HRC o...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in February 2021.The case list below includes only updates. For other continuing cases this year,...Read More
Prices for imported hot-rolled coil in the key Vietnamese market have risen despite thin demand from end users and low domestic offers from Hoa Phat Steel, market sources told Fastmarkets.The unclear situation over whether China will cut steel export rebates has also added further uncertainty to market sentiment. Fastmarkets' weekly price assessment for steel HRC, import, cfr Vietnam, which m...Read More
CIS producers of steel rebar and wire rod have increased their offer prices to foreign customers amid the persistent uptrend in scrap and long steel prices globally, Fastmarkets heard on Monday March 1.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $459.85 per tonne on Monday, up by $3.33 per tonne day on day and up by $26.44 per tonne week on week.Higher...Read More