The British light iron market this week hit a high last seen in April 2013 due to strong export demand in Turkey for European exports, prompting a surge in UK demand for tightening domestic supplies, trade sources told Fastmarkets. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?130-145 ($177-197) per tonne on Friday Janua...Read More
The prices of steel scrap imported into India and Pakistan moved up in the week to Friday January 8 despite a dull and uncertain market, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $479.33 per tonne on Friday, up from $458.02 per tonne on December 31.Offers this week were in the range of $480-485 per tonne, up from...Read More
Turkish steelmakers continued to book deep-sea scrap cargoes at the end of this week to refresh their stock levels for February and March, sources said on Friday January 8.A steel mill in the Izmir region booked a European cargo, comprising HMS 1&2 (75:25) at $471.50 per tonne and bonus at $486.50 per tonne cfr.And a steel mill in the Marmara region booked a US cargo at $481 per tonne cfr on an HM...Read More
Seaborne iron ore prices pushed up on Friday January 8 on active trading, with demand for high-grade iron ore fines well supported at the Chinese ports, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.06 per tonne, up $1.37 per tonne62% Fe low-alumina fines, cfr Qingdao: $173.33 per tonne, up $1.08 per tonne58% Fe fines high-grade premium, cfr Qingd...Read More
Seaborne coking coal prices in both fob and cfr markets were relatively steady on Friday January 8 due to a lack of spot trades, while producer sources said the recent resurgence of Covid-19 infections in Hebei province is yet to affect the production of coke. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.93 per tonne, down $0.06 per tonne Premium hard coking coal, cfr Jingtang: $20...Read More
China's domestic hot-rolled coil prices gained more upward momentum on Friday January 8 despite thin trading.DomesticEastern China (Shanghai): 4,680-4,730 yuan ($724-732) per tonne, up 60-70 yuan per tonneNorthern China (Tangshan) - weekly assessment: 4,400-4,450 yuan per tonne, down 30 yuan per tonneSources in Shanghai said sellers in the city kept asking for higher prices despite the market bein...Read More
China's domestic rebar prices moved up on Friday January 8 due to supply concerns arising from longer transportation time caused by a cold wave and a growing outbreak of Covid-19 in Hebei province. DomesticEastern China (Shanghai): 4,490-4,520 yuan ($694-699) per tonne, up by 30 yuan per tonneNorthern China (Beijing) weekly assessment: 4,080-4,120 yuan per tonne, up by 120-130 yuan per tonneVessel...Read More
Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks' time. Asian-Pacific equities generally upbeat, along with pre-market western equity index futures US 10-year treasury yields conti...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford and...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 16.70-17.15 on Friday January...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 at 16.70-17.25 on Friday January 08,...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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 sulfate 20.5% Co...Read More
There was limited spot liquidity for ferrous scrap in key import market Vietnam in the week to Friday January 8 ahead of the Kanto Tetsugen auction next week, market sources told Fastmarkets.There was a transaction heard at $460 per tonne cfr Vietnam for a 6,000-tonne Japanese H2 cargo. Such cargoes were offered at $465-470 per tonne...Read More
Sluggish Chinese domestic steel scrap prices mean there has been a large gap between bids and offers for imports of steel scrap this week, market sources told Fastmarkets on Friday January 8. Chinese consumers have booked at least four bulk cargoes of Japanese plate and structural (P&S) scrap - which is known as HS in Japan - since China relaxed its scrap import restrictions on December 31. S...Read More
China's looming presence as a new buyer in the Asian seaborne scrap market has sparked concerns of tight supply in the region, including in Taiwan, sources told Fastmarkets this week. Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $448-450 per tonne on Friday January 8, narrowing upward by $3 per tonne fro...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 8. China Seaborne prices for both low- and high-grade ore soared after miners successfully raised their February offer prices following recent increases in the portside ore market. Bullishness in the alloy sector and yuan appreciation spurred buyers' purchasing appetite. Portside...Read More
China's domestic battery-grade lithium carbonate market hit a 14-month high in the first trading week of the year after the price rose by 8% week on week on Thursday January 7 on soaring offer prices and heightened buying appetite.China's battery-grade lithium carbonate price hit a 14-month high due to continued tight supply and producers hiking up prices further. Chinese industrial-grade lithium...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 7 that are worth another look.The provisional anti-dumping duties imposed on imports of Turkish hot-rolled coil by the European Commission are neither reasonable nor fair, Turkish steel exporters told Fastmarkets on January 7.The blockade...Read More
Forward prices for copper and nickel on the London Metal Exchange continued to reach new highs during trading on Thursday January 7, while the rest of the base-metals complex showed smaller increases than those seen at the beginning of the week on a marked rebound in the US dollar index.Nickel's three-month price achieved a new 16-month high of $18,200 per tonne on Thursday, with the uptake of ele...Read More