Key data from Fastmarkets' pricing session in China on Wednesday December 2.Key drivers Aluminium scrap prices have increased amid tightening supply after many cargoes were delayed to a shortage of containers in Asia. Scrap sellers held back from selling material on hand, expecting higher prices in the near term, which exacerbated the tight supply of aluminium scrap in the market. Strong gains in...Read More
Turkish steel billet prices have increased over the past week thanks to stronger scrap costs and despite slowing demand, market sources said on Thursday December 3.Suppliers in the Commonwealth of Independent States (CIS) region continued to raise their offers despite low bids, because they were mostly fully booked until the end of the year.Offers from the CIS region were heard around $520-530 per...Read More
Steel billet and rebar prices increased in Egypt over the week to Thursday December 3 although demand was weak, sources told Fastmarkets.Demand for rebar and billet has been slow in the country since the imposition of a construction ban on May 25, however, the rules of the ban were eased on September 29.Buying was reportedly still weak because...Read More
Turkish domestic long steel prices have continued to strengthen on rising imported scrap costs, but overall demand was limited, sources said on Thursday December 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,900-5,030 lira ($625-641) per tonne on Thursday, up from the 4,800-4,850 lira per tonne of last week.The mills in the Izmir region were...Read More
Turkish rebar and wire rod export prices have continued to increase despite softening demand over the past week, sources said on Thursday December 3.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $530-535 per tonne on Thursday, up from last week's $500-515 per tonne on an actual weight basis.Turkish steel producers raised their offers to $...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in November 2020.The case list below includes only updates. For other continuing cases this year, see the updates for October, September, August, July, June, May,...Read More
China's domestic rebar prices started to weaken again on Thursday December 3 amid pressure from market inventories being drawn down at a slower pace.DomesticEastern China (Shanghai): 4,010-4,040 yuan ($612-616) per tonne, down by 20 yuan per tonneConstruction activity is falling this week due to dropping temperatures. As such, rebar inventories are not being drawn down as quickly as in previous we...Read More
Anglo Pacific is poised to transform into a battery materials company next year and will make a number of transactions to achieve this, its chief executive officer said.Julien Treger said that the company - which has a portfolio of royalties and metal streams in mainly coal, iron ore and uranium - plans to focus its attention on lithium and cobalt, key raw materials used in the production of batte...Read More
Small and medium-sized steel mills in Bangladesh have been forced to re-enter the market for scrap at high prices, market participants said on Thursday December 3.The price paid for scrap imported to the South Asian country continued to mount over the last week with supply tightened on both rising international scrap demand and soaring ocean freight costs, Fastmarkets heard."Bangladeshi buyers hav...Read More
Iron ore prices rose again on Thursday December 3 amid further short-term supply shortage concerns due to the decrease in Vale's 2020 production guidance, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $137.08 per tonne, up $0.79 per tonne62% Fe low-alumina fines, cfr Qingdao: $136.98 per tonne, up $1.18 per tonne58% Fe fines high-grade premium, cfr Qingdao: $125.72 per tonne...Read More
Seaborne premium hard coking coal prices in both fob and cfr markets continued their uptrend on Thursday December 3, following an active trading day in the fob market the day before. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.08 per tonne, up $0.75 per tonne Premium hard coking coal, cfr Jingtang: $168.78 per tonne, up $1.52 per tonne Hard coking coal, fob DBCT: $90.80 per tonne,...Read More
Prices for cargoes of steel scrap in Japan continued their upward march over the past week, with domestic steelmakers and export docks now fighting for material.Japanese steel scrap prices have been buoyed in recent weeks, with strong demand in Vietnam and South Korea adding to ever-tighter supply-side conditions.Fastmarkets' price assessment for steel scrap H2, export, fob main port Jap...Read More
The cobalt alloy 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
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
Swiss miner-trader Glencore and Chinese battery materials producer GEM have extended their agreement for cobalt hydroxide supply by another five years. The extended deal means Glencore will supply GEM with about 150,000 tonnes of cobalt, contained in hydroxide, between 2020 and 2029. The two companies first signed a contract in October last year, under which Glencore would supply GEM and its subsi...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 2. Key driversPrices moved up after suppliers showed reluctance in selling cargoes below 1,100 yuan ($168) per kg.A firm crude indium market continued to lend support to refined indium prices.An evident rise in futures prices on the Wuxi Stainless...Read More
Global silico-manganese production grew by 3.1% month on month to around 1.54 million tonnes in October on higher output in all regions except Europe, the latest data from the International Manganese Institute (IMnI) shows. The October output, following consecutive month-on-month gains of 3.3% and 0.6% in September and August respectively, also registered a fall of 1.3% year on year, the IMnI data...Read More
World manganese ore output registered a month-on-month rise of 3.4% to around 1.97 million tonnes of manganese units in October, partly due to the evident increase in supply from such regions as Asia and Oceania, the Americas and Europe, the latest data from the International Manganese Institute (IMnI) shows.World ore supply in October, after month-on-month declines of 1% and 2.5% in September and...Read More
Simon Properties (SPG), an S&P 100 stock moved above $91.96 resuming an intermediate uptrend.Pre-opening Comments for Friday December 4thU.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for November Non-farm Payrolls was a drop to 469...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 2 that are worth another look.Liberty Steel Group's move to acquire the steel unit of German industrial conglomerate Thyssenkrupp has moved to the due diligence phase, the UK-based steel company told Fastmarkets on December 2.The...Read More