Domestic rebar producers in Russia's Central Federal District around Moscow have withdrawn their offers for January supply in anticipation for returning at higher prices, several sources told Fastmarkets on Monday December 21.Last week, domestic rebar prices in the region increased sharply with Russian producers citing strong exports as the key driver for the rise.As a result, all major producers...Read More
Domestic flat steel suppliers to Russia's Central Federal District around Moscow were increasingly bullish in the week to Monday December 21 amid a rising export market and good buying activity, sources told Fastmarkets.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was 55,500-58,000 roubles ($755-789) per tonne including 20% value-add...Read More
China is taking a tougher stance on steel capacity swaps in a bid to control pollution emissions from its mammoth steelmaking industry and alleviate oversupply.Its Ministry of Industry & Information Technology (MIIT) released a draft last week to seek feedback from steel industry sources on increasing the steel capacity swap ratio to 1.5:1 from 1.25:1.This means that a steelmaker will need to cut...Read More
Turkish deep-sea scrap import prices refreshed their multi-year highs at the beginning of the week with the news of fresh deals for European and US cargoes on Monday December 21.A steel mill in the Marmara region booked a European cargo, comprising HMS 1&2 (80:20) at $455 per tonne, shredded and bonus at $470 per tonne and busheling at $475 per tonne cfr. And another steel producer in the same reg...Read More
Vale has received the required licensing to start construction works of its $495-million Capanema iron ore project in southeast Brazil, aiming to bring online 18 million tonnes per year in capacity, it said.The the Brazilian producer plans to restart activity at Capanema, in the southeastern state of Minas Gerais, and use a new long-distance conveyor belt to transport ore to soon-to-be-adjusted st...Read More
Seaborne premium hard coking coal prices in both the cfr and fob markets increased on Monday December 21, with transactions active in the fob market.Coke producers in China also proposed a 10th round of price increases.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.39 per tonne, up $0.15 per tonnePremium hard coking coal, cfr Jingtang: $190.20 per tonne, up $1.78 per tonneHard coking...Read More
Strong steel demand and supply concerns following a landslide at Vale's C??rrego do Feij??o mine boosted iron ore futures price on Monday December 21, with the bullish sentiment pushing Fastmarkets' iron ore indices for 62% Fe low-alumina fines, cfr Qingdao and 65% Fe Brazil-origin fines, cfr Qingdao to new record highs. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $176.45 per tonne, up...Read More
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.The price increases since early October have stunned market watchers with their speed and magnitude, leading many market veterans to compare it to a similar price climb in 2008 - and the precipitous drop t...Read More
Prices for seaborne iron ore pellets surged in the week to Friday December 18 along with the rest of the sector for the steelmaking raw material amid supply concerns and strong gains in the futures market, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $168.71 per tonne, up $6.14 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $199.28 per tonne, up $13.57...Read More
China's hot-rolled coil prices reached their highest since August 2008 on Monday December 21 after futures hit the daily upper limit of 5% while buying in the spot market was active.DomesticEastern China (Shanghai): 4,950-4,980 yuan ($757-762) per tonne, up 330-340 yuan per tonneSellers in Shanghai were offering around 4,950 yuan per tonne when futures started at high levels this morning. Spot pri...Read More
China's domestic rebar prices surged further on Monday December 21 to their highest in 25 months on strong gains in the futures and billet markets.DomesticEastern China (Shanghai): 4,580-4,600 yuan ($700-704) per tonne, up by 240-250 yuan per tonneThe price of billet increased by 160 yuan per tonne during the weekend to 3,880 yuan per tonne before gaining another 120 yuan per tonne on Monday to re...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...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
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
China's electrolytic manganese flake export price has risen for a sixth consecutive week, with a robust domestic market continuing to provide support, but many exporters have stopped offering the material because they are unsure what price would be appropriate to sell at.Fastmarkets' weekly price assessment for manganese 99.7% electrolytic manganese flake, fob China was $2,000-2,100 per tonne on F...Read More
Key data from Fastmarkets' pricing session in China on Friday December 18.Key drivers China's silicon export price widened downward with the emergence of lower offers in the market; deals were reported at both the low and high ends of the latest assessed range. Market sources said that spot trading was inactive; overseas consumers were bearish...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 the...Read More
Intuitive Surgical (ISRG), a NASDAQ 100 stock moved above $713.07 to an all-time high extending an intermediate uptrend. Workday (WDAY), a NASDAQ 100 stock moved above $248.75 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Tuesday December 22ndU.S. equity index futures were higher this morning. S&P 500 futures were up 7 points following news that U.S Congr...Read More
Here are five Fastmarkets stories you might have missed on Friday December 18 that are worth another look.Global mining and metals company Rio Tinto and Japanese steelmaker Nippon Steel Corp have signed a Memorandum of Understanding (MoU) to jointly explore and develop technologies to transition to a low-carbon emission steel value chain,...Read More
Here are five Fastmarkets stories you might have missed on Friday December 18 that are worth another look.Global mining and metals company Rio Tinto and Japanese steelmaker Nippon Steel Corp have signed a Memorandum of Understanding (MoU) to jointly explore and develop technologies to transition to a low-carbon emission steel value chain,...Read More