Steel billet exporters from the Commonwealth of Independent States (CIS) have largely stayed out of the market, are holding back volumes and waiting for a clearer picture in the scrap segment, sources told Fastmarkets on Monday December 14.Most CIS producers were still out of the market and withholding steel billet offers because they are waiting for prices to rise further, sources said."We're tak...Read More
Turkish deep-sea scrap import prices have continued to increase, reaching their highest point since August 2012 with a fresh Baltic Sea cargo traded over the weekend, sources said on Monday December 14.A steel mill in the Marmara region booked the Baltic Sea cargo, consisting of HMS 1&2 (80:20) at $419 per tonne and shredded at $429 per tonne cfr. The cargo composition was not clear at the time of...Read More
Turkish domestic scrap prices have continued to increase over the past week due to strengthening import values, sources said on Monday December 14.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 2,920-3,120 lira ($372-397) per tonne on Monday, up from 2,610-2,915 lira per tonne last week.Steel producers in the country have raised their buy pr...Read More
Seaborne coking coal cfr prices rose across the board on tight supply on Monday December 14, with pulverized coal injection (PCI) material posting the largest day-on-day increase.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.91 per tonne, down $0.13 per tonnePremium hard coking coal, cfr Jingtang: $182.40 per tonne, up $2.77 per tonneHard coking coal, fob DBCT: $92.06 per tonne, down...Read More
Seaborne iron ore prices fell on Monday December 14 after steelmakers in China called on authorities to clamp down on price speculation after it led iron ore prices to surge to multi-year highs last week, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $154.37 per tonne, down $5.76 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.71 per tonne, down $5.70 per to...Read More
Prices for seaborne iron ore concentrate and pellets surged in the week to Friday December 11 amid strong gains in the iron ore fines segment, market sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $162.57 per tonne, up $18.68 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $185.71 per tonne, up $18.32 per tonne Key driversThe weekly average of the Fastmar...Read More
Base metals prices on the London Metal Exchange were mainly firmer this morning, Monday December 14, following the pullback from highs at the end of last week, but the base metals on the Shanghai Futures Exchange were mainly weaker while they followed Friday's weakness on the LME. Germany to enter a hard lockdown on Wednesday, South Korea considers raising Covid-19 restrictions to highest level.Un...Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday December 11.United States Prices rose by almost 4% over the assessment week, with sellers raising their offers and pushing for a price $1.10 per lb, a level not yet attained. The US signaled potentially higher prices by setting initial duties on silicon metal from Bosnia and Iceland during the assess...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...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....Read More
Cobalt hydroxide prices and payables stretched to new highs in the week ended Friday December 11 when buyers came back to the market looking for prompt January cargoes and evaluating the availability of January-shipment material, after a lull in activity since the second half of November.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grad...Read More
China's domestic magnesium price moved up for a sixth consecutive week and surged to its highest since September 2019 on a stockpiling initiative in Yulin, Shaanxi province as well as rising input costs for magnesium plants, market sources said.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 15,000-15,500 yuan ($2,291-2,367) per tonne on Friday December 11, an increase of 1...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Tuesday December 15, this despite some healthy Chinese economic data.* Stricter lockdowns measures in many countries are a headwind for equity markets, which may flow into the metals* With gold prices up and US treasury yields down, this suggests a pick-up in haven demandBase metalsThe three...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 26 points in pre-opening trade. Index futures responded to expectation of more government stimulus.Index futures were virtually unchanged following release of the December Empire State Manufacturing survey at 8:30 AM EST. Consensus was a slip to 6.00 from 6.30 in 6.30 in November. Actual was 4.90The Canadian Dollar add...Read More
Here are five Fastmarkets stories you might have missed on Friday December 11 that are worth another look.ArcelorMittal restarted blast furnace No2 at its Dunkirk operations in northern France this week, in a bid to increase hot-rolled coil output to meet growing demand, the company said.Waiting...Read More
Here are five Fastmarkets stories you might have missed on Friday December 11 that are worth another look.ArcelorMittal restarted blast furnace No2 at its Dunkirk operations in northern France this week, in a bid to increase hot-rolled coil output to meet growing demand, the company said.Waiting...Read More
Here are five Fastmarkets stories you might have missed on Friday December 11 that are worth another look.ArcelorMittal restarted blast furnace No2 at its Dunkirk operations in northern France this week, in a bid to increase hot-rolled coil output to meet growing demand, the company said.Waiting...Read More
Here are five Fastmarkets stories you might have missed on Friday December 11 that are worth another look.ArcelorMittal restarted blast furnace No2 at its Dunkirk operations in northern France this week, in a bid to increase hot-rolled coil output to meet growing demand, the company said.Waiting...Read More
Here are five Fastmarkets stories you might have missed on Friday December 11 that are worth another look.ArcelorMittal restarted blast furnace No2 at its Dunkirk operations in northern France this week, in a bid to increase hot-rolled coil output to meet growing demand, the company said.Waiting...Read More
Base metals prices on the London Metal Exchange were mainly firmer this morning, Monday December 14, following the pullback from highs at the end of last week, but the base metals on the Shanghai Futures Exchange were mainly weaker while they followed Friday’s weakness on the LME.* Germany to enter a hard lockdown on Wednesday, South Korea considers raising Covid-19 restrictions to highest le...Read More