Iron ore prices surged on Thursday February 18 on support from strong steel prices and positive sentiment regarding steel inventory, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $175.05 per tonne, up $8.17 per tonne62% Fe low-alumina fines, cfr Qingdao: $175.50 per tonne, up $8.25 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.22 per tonne, up $7.56...Read More
Seaborne premium hard coking coal prices edged up on Thursday February 18, with Chinese market participants back from the Lunar New Year holiday, but there was still uncertainty over the direction of the cfr market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $141.26 per tonne, up $0.06 per tonnePremium hard coking coal, cfr Jingtang: $217.48 per tonne, up $0.25 per tonne H...Read More
Chinese steelmakers looking to replenish steel scrap stocks after returning from their new year holiday on Thursday February 18, have raised bid prices for both domestic and imported material, sources told Fastmarkets.On the first day back after the holiday, a Shandong mill raised its tender for heavy scrap by 50 yuan per tonne on Thursday to 3,050 ($472) yuan per tonne delivered, excluding value-...Read More
China's hot-rolled coil prices surged on Thursday February 18, the first trading day after the week-long Chinese New Year public holiday, with sales gains in the home appliances sector during the break boosting sentiment.DomesticEastern China (Shanghai): 4,740-4,750 yuan ($734-735) per tonne, up 250-270 yuan per tonneTraders told Fastmarkets that few buyers were willing to place orders after the p...Read More
China's domestic rebar prices increased sharply on Thursday February 18 amid optimism generated by the release of positive financial data. DomesticEastern China (Shanghai): 4,450-4,480 yuan ($688-693) per tonne, up by 170-180 per tonne A total of 3.58 trillion yuan worth of new bank loans were issued in China in January, up by 225 billion yuan (6.7%) from a year earlier and a record high.The count...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,...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
Key data from the pricing session in London on Friday February 17.Key drivers Prices corrected downward in the first half of the week with traders profit-taking while end-user inquiries slow. The European manganese flake market started the year at $2,120-2,280 per tonne and reached its year-to-date high of $2,800-2,940 per tonne...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds – namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic respo...Read More
NextEra Energy (NEE), an S&P 100 stock moved below $79.61 completing a double top pattern.Pre-opening Comments for Friday February 19thU.S. equity index futures were higher this morning. S&P 500 futures were up 15 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US79.28 cents following release following release of Canada's December Retail Sales report at 8:30 AM...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 17 that are worth another look.All future new-build vessels to be owned by shipping operator Maersk will have dual-fuel technology installed, allowing either carbon-neutral operations or the use of standard very low sulfur fuel oil...Read More
Nickel premiums in the US and Europe were steady in the week to Tuesday February 17, with both markets broadly stagnant against a well-supported LME three-month nickel price, while Asia's absence from the market saw minimal spot activity.Tight briquette supply sees US market seek alternative products US cut cathode sentiment weakens amid 4x4 uptakeEuropean market laments high price amid stati...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 17.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 17 that are worth another look.All future new-build vessels to be owned by shipping operator Maersk will have dual-fuel technology installed, allowing either carbon-neutral operations or the use of standard very low sulfur fuel oil...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 17 that are worth another look.All future new-build vessels to be owned by shipping operator Maersk will have dual-fuel technology installed, allowing either carbon-neutral operations or the use of standard very low sulfur fuel oil...Read More
Turkish steel mills have preferred to focus on steel and billet sales so far this week, rather than resuming their deep-sea scrap purchases, market sources told Fastmarkets on Wednesday February 17.The mills have stayed away from the deep-sea scrap markets since the end of last week, when two Turkish steelmakers booked US cargoes at $410 per tonne cfr on an HMS 1&2 (80:20) basis.The daily scrap in...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 17. Key drivers Limited supplies of titanium scrap pushed the low tin (Sn 0.5%) content grade price to a high last seen in August 2012, while higher tin content grade (Sn 0.5-2%) reached a high last seen in January 2013.European suppliers are positioning themselves for firmer demand in early March for second-quarter delive...Read More
Recovery hopes tied into the rollout of Covid-19 vaccines and some brighter economic data has driven up bond yields that in turn has lifted the dollar, and that seems to be creating some hesitancy in the metals this morning, Wednesday February 17. The US Dollar Index is firmer US 10-year treasury yields have stepped up a gear as recovery is still being priced inAs a barometer, spot gold prices are...Read More