The premium hard coking coal in the fob market continued to be active while the seaborne premium hard coking coal cfr price began to lose its price advantage over its Chinese domestic counterpart on Tuesday December 22. Fastmarkets indices Premium hard coking coal, fob DBCT: $102.68 per tonne, up $0.29 per tonne Premium hard coking coal, cfr Jingtang: $190.20 per tonne, unchanged Hard coking coal,...Read More
Seaborne iron ore prices fell from their record highs on Tuesday December 22, after the market began "cooling off" following the introduction of new counter-speculation measures at the Dalian Commodity Exchange (DCE), sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.53 per tonne, down $11.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $165.07 per...Read More
Nickel's three-month price on the London Metal Exchange was down by 1.6% during morning trading on Tuesday December 22, with the rest of the complex mostly trading lower given the spread of a new variant of Covid-19 across Europe. The LME nickel price was the most affected on Tuesday morning, dropping to $16,980 per tonne from Monday's 5pm close of $17,267 per tonne.The stainless-steel additive st...Read More
China's domestic rebar prices continued to surge on Tuesday December 22 to reach their highest in three years, though the gains have resulted in sparse trading in the market.DomesticEastern China (Shanghai): 4,680-4,700 yuan ($715-718) per tonne, up by 100 yuan per tonneSellers raised prices in response to early gains made in the futures market.The most-traded May rebar contract on the Shanghai Fu...Read More
Base metals prices on the Shanghai Futures Exchange were down across the board this morning, Tuesday December 22, as were most of the metals on the London Metal Exchange, with the exception of tin. Despite the United States Congress finally passing another Covid-19 recovery package, the metals were under pressure after the emergence of a new variant of the virus takes hold, which could increase th...Read More
China's Dalian Commodity Exchange (DCE) has tightened its limits on the opening of positions to 2,000 lots per day for non-brokerage members or clients on all iron ore futures contracts from Tuesday December 22.In an announcement on Monday evening, it said it would restrict the opening of positions - both long and short - to 2,000 lots per day on all iron ore futures contracts for such members 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...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.Read More
Atlas Mining's Carmen mining pit collapsed on Monday December 21 after heavy rainfall in recent months was exacerbated by a typhoon that earlier hit the Philippines' Toledo City, the company said. Carmen Copper Corp (CCC), operator of the mine, confirmed that at around 4.15 pm local time on Monday a landslide occurred at the Carmen Pit, CCC's mine operations site. "The incident was traceable to th...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More
Base metals prices on the Shanghai Futures Exchange were mainly lower this morning, Wednesday December 23, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down and oscillating sideways ahead of the Christmas and New Year holidays, suggesting markets are content to consolidate while many cross currents muddy the waters.US President Donald Trump reb...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Durable Goods Orders was an increase of 0.3% versus a gain of 1.3% in October. Actual was an increase of 0.9% Excluding Transportation Orders, consensus for November Durable Goo...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Base metals prices on the London Metal Exchange were down across the board at the close on Monday December 21 amid broad-based profit-taking. Lead was the worst performer, falling 3.9% to $1,959.50 per tonne at the close. Trading volume was relatively low with just over 5,000 lots. Lead stocks on the LME continue to rise, weighing on sentiment for the heavy metal. After big inflows of 13,000 tonne...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Monday December 21, consolidating from their recent year-to-date highs.The three-month aluminium price fell by 1.4% this morning after nearly 30,000 tonnes were delivered into LME-listed warehouses.Warehouses in Port Klang received 27,875 tonnes of aluminium, while a couple of hundred tonnes was also delive...Read More
Port prices of both low- and high-grade manganese ore in China continued to trend upward in the week to Friday December 18 after ore traders raised their offers further, partly boosted by the rallying futures silico-manganese market, market sources said. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 32.30 yuan ($4.94) per dmtu on December 18, up by 1 yuan...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More
Prices for imported ferro-chrome in Japan and South Korea have risen for the first time since late September, buoyed by ongoing trade flow disruptions.Fastmarkets' fortnightly price assessment for ferro-chrome, high carbon, 57-65% Cr, cif dup Japan was $0.73-0.75 per lb on Thursday December 17, up by $0.01-0.03 per lb from $0.70-0.74 per lb on December 3.Similarly, the fortnightly price assessment...Read More
Here are five Fastmarkets stories you might have missed on Monday December 21 that are worth another look.Market participants in Asia are bracing for sharp price corrections amid historically high prices for steel, iron ore and ferrous scrap in the region, industry sources told Fastmarkets this week.China's Zhuzhou zinc smelter has successfully met...Read More
Consumers of noble alloys and cobalt who usually process scrap are expected to start taking more primary material early next year due to low metal prices and tight scrap availability in the fallout from Covid-19. Scrap availability has tightened because industrial operations were interrupted by shutdowns aimed at curbing the spread of Covid-19 during the first half of 2020, and then, reduced after...Read More