The seaborne premium low-volatility hard coking coal fob price slumped dramatically on Thursday February 25, with the latest transaction sealed at $126 per tonne fob Australia. Fastmarkets indicesPremium hard coking coal, fob DBCT: $127 per tonne, down $11.93 per tonnePremium hard coking coal, cfr Jingtang: $219.04 per tonne, unchangedHard coking coal, fob DBCT: $130.07 per tonne, up $0.50 per ton...Read More
Iron ore prices mostly increased on Thursday February 25, supported by healthy mill margins and expectations of a steady rise in demand for steel, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.24 per tonne, up $1.53 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.70 per tonne, up $1.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.06 per t...Read More
Import prices for high-grade steel scrap into the key Chinese market surged on Thursday February 25 due to increasingly bullish sentiment in the domestic scrap markets and jumps in international ferrous scrap prices.Sources said that Chinese steel mills are now able to purchase at $480-485 per tonne cfr China for high-grade Japanese HS materials after negotiation, while sellers have hiked offers t...Read More
Aluminium crossed the $2,200-per-tonne mark and copper continued to extend its bullish rally on the London Metal Exchange during morning trading on Thursday February 25, with a softer US Dollar Index supporting higher prices in the complex.Aluminium's three-month price was up by 1.85% to $2,225 per tonne at 9am this morning, after a 1.7% gain on Wednesday at the close, which saw the metal rise to...Read More
China's domestic rebar prices moved up on Thursday February 25 on rising futures though demand was weaker due to adverse weather. DomesticEastern China (Shanghai): 4,620-4,650 yuan ($716-721) per tonne, up by 20-30 yuan per tonneRebar futures rose during the day on market participants' bullish outlook for demand in spring. Spot rebar prices followed suit.But bad weather is currently putting pressu...Read More
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.US Federal Reserve Chairman Jerome Powell told Congress that it might take three years to reach the central bank's inflation targetsAsian-Pacific equities were up strongly on Powell's commentsBase metals The LME three-...Read More
China's domestic stainless steel prices rose surged to their highest in three-and-a-half years in the week to Wednesday February 24 amid a soaring nickel market and recovering demand.The three-month nickel contract on the London Metal Exchange ended Wednesday's official trading session at $19,402 per tonne, up by $1,547 per tonne - or 8.66% - from $17,855 per tonne on February 1.Fastmarkets' price...Read More
A summary of Finnish miner Terrafame's financial results for the fourth quarter and full year to December 31, 2020, published by the company on Thursday February 25. In brief The full-year earnings before interest, taxes, depreciation, and amortization (Ebitda) was ?,?23.8 million ($28.9 million), down from 2019's ?,?32 million. In the fourth quarter, however, the company's Ebitda was ?,?17....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...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...Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
The spot cobalt hydroxide payable edged higher in the first half of the week with consumers holding robust demand amid persistent spot tight availability of the feedstock, sources said on February 25.Fastmarkets' assessment for cobalt hydroxide payable indicator, min 30% Co, cif China rose to 92.5-94% of standard-grade cobalt (low end) on Wednesday February 24, up by 0.81% from 92-93% on February...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said...Read More
Global tin ingot premiums notched significant increases in the two weeks to Tuesday February 23, with premiums in both the United States and Taiwan reaching new highs; at the same time, tight global tin supply has begun affecting European business, prompting a 22% rise in the Rotterdam ingot premium. US tin imports close to nil; premium surges to new high Taiwan tin trade gets liquidity boost...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 24.Please click...Read More
Manganese ore prices are likely to remain supported due to the strong rand and soaring freight rates, as well as logistical disruptions and healthy downstream demand, sources said.Fastmarkets manganese ore index 37% Mn, cif Tianjin was last calculated at $4.65 per dry metric tonne (dmtu) on Friday February 19, up nearly 14% over the past six months and about 4% year on year.But a stronger rand mea...Read More
Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky. The London Metal Exchange three-month nickel price was recently trading at $19,660 per tonne, 1.5% higher than at the 5pm close on Tuesday February 23.The price has rallied significantly in February, curre...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi in London,...Read More
Turkish deep-sea scrap import prices continued to rise after fresh transactions came to light on Wednesday February 24, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 5,000 tonnes of bonus at $455 per tonne cfr late on Tuesday February 23.Another steel mill in the same...Read More