Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia continued to rise over the past week, mainly due to strong global demand and despite there being less enthusiasm in their domestic markets.Demand was not strong in the UAE or Saudi Arabia because stock levels were sufficient and end-user demand was only limited, sources told Fastmarkets on Tuesday December 15.UAEOffer pric...Read More
Offer prices for steel billet originating in the Commonwealth of Independent States continued to move up due to surging scrap costs and tight supply, while trading was quiet this week on offer-bid disparity, sources told Fastmarkets on Tuesday December 15. Offers for steel billet for February shipment from some Russian mills were heard within the range of $560-580 per tonne fob on Tuesday, with so...Read More
Turkish steelmakers continued to book deep-sea scrap for February 2021 shipments at increasing prices, sources said on Tuesday December 15.A steel mill in the Marmara region booked a European cargo comprising an 80:20 mix of No1 and No2 heavy melting scrap at $421 per tonne and bonus at $431 per tonne cfr. This compared with the previous cargo sold from the Baltic Sea region at $419 per tonne...Read More
A shortage of scrap has forced Riva Group to halt steel making operations at its Hennigsdorf site in Germany, several sources told Fastmarkets on December 15.The rebar and wire rod producer had to suspend operations at the Hennigsdorf site, in Brandenburg state in the north east of Germany, last week because it had run out of steel scrap, several sources told Fastmarkets."Riva's Hennigsdorf has no...Read More
Seaborne iron ore prices were rangebound on Tuesday December 15 compared with the previous day, but trading activity had picked up at the Chinese ports, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $155.07 per tonne, up $0.70 per tonne62% Fe low-alumina fines, cfr Qingdao: $155.09 per tonne, up $0.38 per tonne58% Fe fines high-grade premium, cfr Qingdao: $143.90...Read More
Premium hard coking coal cfr and fob prices diverged slightly on Tuesday December 15, with the premium hard coking coal cfr price up and fob price down, sources told Fastmarkets. Some coke producers in China proposed a ninth round of price increases - with an increase of 50 yuan ($8) per tonne starting from December 15 - and some steel mills accepted the proposal, sources said.Fastmarkets ind...Read More
China's hot-rolled coil prices declined for the second consecutive day on Tuesday December 15 after reaching a nine-year high on December 11, but trading activity has picked up, sources said.DomesticEastern China (Shanghai): 4,470-4,480 yuan ($683-685) per tonne, down 10-40 yuan per tonneOne Shanghai-based trader said she had won more deals on Tuesday than a day ago after cutting offers and that&n...Read More
China's domestic rebar prices stopped their downtrend on Tuesday December 15 amid higher activity following stronger futures. DomesticEastern China (Shanghai): 4,130-4,160 yuan ($631-635) per tonne, unchangedBuyers raised their procurement rates following the futures market gains, sources said.Construction work in eastern and southern China was reportedly active over the day, Fastmarkets was told,...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...Read More
Belgian battery-materials manufacturer Umicore has upgraded its 2020 earnings guidance following a stronger-than-anticipated performance in November and December in its catalysis and recycling segments, the company said on Monday December 14. Umicore anticipates its full-year adjusted earnings before interest and taxes (Ebit) to be in the region of ?,?530 million ($644 million), compared with the...Read More
Stainless steel producer Outokumpu has upgraded its guidance for the fourth quarter of 2020 following better-than-expected sales, the Finnish company said on Tuesday December 15. With production facilities in Finland, Sweden, Germany, the UK, Mexico and the United States, and sales offices around the world, Outokumpu now expects its earnings before interest, taxes, depreciation, and amortization (...Read More
European ferro-silicon prices, which have been rallying since late October, will climb further near term and potentially challenge the annual peak of ?,?1,275 per tonne on tight supply both in Europe and non-EU countries and a gradual recovery in consumption, industry sources said.Fastmarkets last assessed the price for ferro-silicon lumpy basis 75% Si (scale pro rata), delivered Europe at ?,?1,12...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally firmer this morning, Wednesday December 16, with prices holding up in high ground, backed by optimism that vaccines will lead to stronger recoveries next year, while the weaker dollar and concerns about inflation were also supportive.* Japan’s flash manufacturing purchasing managers index (PMI) c...Read More
Soybean ETN (SOYB) moved above $18.09 extending an intermediate uptrend. NetApp (NTAP), a NASDAQ 100 stock moved above $63.20 extending an intermediate uptrend. Oracle (ORCL), an S&P 100 stock moved above $62.35 to an all-time high extending an intermediate uptrend.Synopsys (SNPS), a NASDAQ 100 stock moved above $246.69 to an all-time high extending an intermediate uptrend. Pre-opening Co...Read More
Here are five Fastmarkets stories you might have missed on Monday December 14 that are worth another look.Prices for flat steel products in the Brazilian domestic market have continued to increase, going up for the sixth month in a row in December amid material scarcity and a recovery in...Read More
Nickel's three-month price was the star performer on Monday December 14 on the London Metal Exchange, rising by 1.7% at the 5pm close compared with Friday, on a day when the majority of the base-metals complex showed price rises of more than 1%.Nickel rose by 1.7% on Monday, the highest among the complex, to $17,590 per tonne from Friday's closing price of $17,278 per tonne.The metal also once mor...Read More
US copper miner Freeport-McMoRan and Chinese smelters including China Copper, Jiangxi Copper and Tongling Nonferrous have agreed annual copper concentrate supply contracts with terms set at their lowest levels in a decade. Treatment and refining charges (TC/RCs), discounts on exchange prices that compensate smelters processing concentrates into commodity-grade metal, were set at $59.50 per tonne /...Read More
Strength in the manganese alloy market supported portside and seaborne ore prices for January in China in the week to December 11, sources said.Fastmarkets' manganese ore index 37% Mn, cif Tianjin rose by 10 cents or 2.7% week on week to $3.87 per dry metric tonne unit (dmtu) on Friday from $3.77 per dmtu the week previous.Fastmarkets' corresponding manganese ore index 37% Mn, fob Port Elizabeth i...Read More
US copper miner Freeport-McMoRan and Chinese smelters including China Copper, Jiangxi Copper and Tongling Nonferrous have agreed annual copper concentrate supply contracts with terms set at their lowest levels in a decade. Treatment and refining charges (TC/RCs), discounts on exchange prices that compensate smelters processing concentrates into commodity-grade metal, were set at $59.50 per tonne /...Read More