The market for higher grades of high-carbon ferro-chrome in Europe rose strongly in the week ended Tuesday February 9 due to a shortage of available material while suppliers focused their attention on Asia.Fastmarkets' price assessment for ferro-chrome, high carbon, 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe, rose by $0.03-0.07 per lb (1.8%) on Tuesday to $1.10-1.22 per lb Cr, from $...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 10. Key drivers Limited supplies of titanium scrap pushed the low tin (Sn 0.5%) content grade price to a high last seen in September 2012 while higher tin content grade (Sn 0.5-2%) reached a high last seen in September 2014.The rally has forced buyers to look for alternative feedstock...Read More
The import market for charge chrome in China rose on Tuesday February 9, with tight supply continuing to strengthen sentiment despite the damping effect of the approaching Lunar New Year holiday, February 11-17, on activity in the chrome market.Fastmarkets' price assessment for ferro-chrome, 50% Cr, import, cif main Chinese ports, rose by $0.04 per lb (3.8%) to $1.10 per lb contained Cr on Tuesday...Read More
China increased refined and unrefined copper imports by over 31% year on year in 2020, whereas scrap inflow shrank significantly, reflecting the import policy change for waste products that came into force at the end of the year. Copper concentrate imports 21.77 million tonnes, down 1% year on year China's imports of copper concentrate, a major feed for primary smelting, dropped marginally in 2020...Read More
Zinc premiums were flat across Asia, Europe and the United States in the week to Tuesday February 9, while the ongoing supply tightness for lead in the US has allowed those who have material available to "name their price." Widening arbitrage loss and low demand due to Chinese New Year keeps Shanghai, Southeast Asia zinc premiums flat. On-warrant inventory in Singapore and Port Klang, Malaysi...Read More
With markets in China and much of Southeast Asia closed on Thursday February 11 ahead of Lunar New Year, trading on the London Metal Exchange this morning has been quiet with the base metals ranged between being down by 0.3% and up by 0.2%.* The US Dollar Index remains on a back foot* US 10-year treasury yields were weaker than they were at the start of the weakBase metalsThe three-month base meta...Read More
China Large Cap iShares (FXI) moved above $53.14 to an all-time high extending an intermediate uptrend. Hong Kong iShares (EWH) moved above $26.54 extending an intermediate uptrend.Asia ex Japan iShares (EPP) moved above $50.52 to an all-time high extending an intermediate uptrend.Australia iShares (EWA) moved above $25.11 to an all-time high extending an intermediate uptrend.KraftHeinz (KHC), a N...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 9.Please click...Read More
Base-metal prices on the London Metal Exchange rose across the board on Tuesday February 9, with copper showing the most marked increase of 1.4%, given the continued fall of the US Dollar Index.Meanwhile, attention to the Chinese New Year holiday, February 11-17, seemed to be taking a back seat.The Dollar Index came to 90.55 on Tuesday at 5pm, having bottomed at 90.50 throughout trading, its lowes...Read More
An overview of the chrome ore and alloy markets on Tuesday February 9 and their latest price moves. China Bullish sentiment created by low supply pushed up the charge chrome market, with deals achieved at elevated price level. Activity in the UG2 and Turkish lumpy chrome ore markets was muted in the run-up to the Lunar New Year holiday (February 11-17). Many participants...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More
This year will be a turning point for network readiness and availability of 5G after some initial delay in last year caused by the Covid-19 pandemic, sources told Fastmarkets. More 5G smartphones, wearables and other consumer electronics have reached the mainstream market while the increase in remote working that has resulted from lockdown measures continues to underscore the need for greater band...Read More
Ferrous scrap prices in Mexico largely declined in the week ended on Friday February 5, with buyers struggling to reduce their purchase prices.Mexican steel producers attempted to secure price cuts in their purchases of the steelmaking raw material, of around 200-300 pesos ($10-15) per tonne, in both regions during the week. But many higher-volume trades were heard at stable prices.Fastmarket...Read More
The Turkish deep-sea scrap import market remained quiet on the second working day of the week with no deep-sea bookings heard, market sources said on Tuesday February 9.The most recent bookings were heard on February 5 at $380 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20) and $387 per tonne cfr for UK material, sending the daily scrap indices down by around $15 per tonne...Read More
With the exception of tin, base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were firmer this morning, Tuesday February 9, as were the precious metals and oil, while the US dollar continued with its recent pullback.Oil prices hits $61 per barrel, highest since January 2020, on production cutsBitcoin surges as Tesla shows support for the cryptocurrencyUnited States'...Read More
Hot-rolled coil prices in the United States slipped from an all-time high while market participants debated whether the rally had run its course.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $58.96 per hundredweight ($1,179.20 per short ton) on Tuesday February 9, down by 0.47% from a record $59.24 per cwt on Monday February 8. Still, the current price is up by 1.99...Read More
Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, with buyers holding back from making new deals because they anticipate a decrease in prices, sources told Fastmarkets.Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, buyers hold back from making new deals on anticipated price decrease, sources told Fastmarkets.Fastmarkets calcu...Read More
Buyers of flat steel in Saudi Arabia expected prices to decrease because of the current low demand, while buyers in the United Arab Emirates were waiting for next week to see the direction of price movement, sources told Fastmarkets on Tuesday February 9.China and India are the main flat steel exporters to the Gulf region. China will be on its national New Year holiday February 11-17, and no new p...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More