Turkish steel mills resumed their deep-sea scrap purchases despite higher prices, due to growing demand for finished steel and increased competition for scrap, sources told Fastmarkets on Wednesday November 25.A steel mill in the Iskenderun region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 5,000 tonnes of bonus at an average price of $341 pe...Read More
Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.The company started modernization of one of three HBI plants at its Lebedinsky GOK asset in mid-November. The project was scheduled for completion by early 2023.Once the modernization is completed, the plant's capacity will increase by...Read More
The recent surge in container freight costs and availability of cargo space continue to disrupt trade flows in minerals and metals, with trading companies finding themselves unable to dodge the soaring shipping rates.A combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between cargoes has kickstarted a rapid increase in shipping costs for...Read More
Seaborne iron ore prices were mostly stable on Wednesday November 25, with mill margins still healthy despite mixed expectations on steel demand, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.41 per tonne, down $0.01 per tonne62% Fe low-alumina fines, cfr Qingdao: $127.69 per tonne, up $0.02 per tonne58% Fe fines high-grade premium, cfr Qingdao:&n...Read More
The seaborne premium hard coking coal fob index fell drastically on Wednesday November 25 after the most recent transaction was sealed at a lower price. Chinese market participants were envious of their counterparts abroad, who are enjoying a lower price level for Australian premium hard coking coal while they are restricted from importing, sources said.Fastmarkets indicesPremium hard coking coal,...Read More
Copper's three-month price reached a near seven-year high during morning trading on the London Metal Exchange on Wednesday November 25 on bullish macroeconomic trends, while other base metals showed a mix of small rises and falls. The red metal rose to $7,360 per tonne in morning trading, surpassing a price last seen in January 2014, before easing back to $7,287 per tonne by 9:10am, a slight dip f...Read More
China's domestic rebar market maintained its downward trend on Wednesday November 25 amid a pessimistic outlook among participants. DomesticEastern China (Shanghai): 4,090-4,120 yuan ($621-625) per tonne, down by 50-60 yuan per tonnePersistently bad weather in various parts of the country lowered trading activity during the day. Sources expect this factor to continue to put pressure on end-user de...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and Michael Greenfield in London, Susan Zou...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Cristina Belda and Declan Conway contributed to this...Read More
A pick-up in demand, combined with high freight costs and low fuel prices, has prompted a significant rebound in performance for the main carrier companies and led to increasing concerns over container shortages. "Our shipping activity has seen a significant increase in volumes transported compared to the second quarter of 2020," Rodolphe Saad?(C), CMA CGM Group chief executive officer said in a s...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 transparency into the markets it covers and the pricing...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 transparency into the markets it covers and the pricing process...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt hydroxide...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 25. Key drivers Steady demand for prompt material from steel mills for the first quarter of next year pushed the ferro-titanium spot price to $5 per kg on the high end for the first time since May 20 in a 14-week bull run.There are bigger steelmaker tenders for first-quarter shipments both in Europe and Asia, which supplie...Read More
Global copper scrap metal suppliers are now hesitant to send their cargoes to China, citing a higher risk of rejection over the ambiguity of its new classification of 'recyclable copper materials', industry executives said at Fastmarkets Asia Copper Webinar on Monday November 23.For the first time ever, the world's biggest consumer of copper scrap has allowed overseas high-purity non-ferrous scrap...Read More
Markets were generally buoyant this morning, Thursday November 26, with more certainty on the horizon than of late, helped by US president-elect Joe Biden’s transition to the White House and with a rollout of the vaccines now insight, if things go according to plan.* Optimism pushes current economic and health problems to the background* UK Chancellor warns of biggest contraction in 300 years...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 24 that are worth another look.European steelmakers need to consolidate to gain better control over pricing and the supply-demand balance as well as to better tackle rising production costs, but it will not solve the major problems of...Read More
Aluminium premiums in China and the United States rose in the week ended Tuesday November 24, while other regions maintained a focus on first-quarter 2021 business.Strong demand in ChinaUS Midwest premiums climbEuropean participants focus on first quarter 2021MJP spot market static.Shanghai premiums up with arb window openAn open import arbitrage window, as well as strong demand in China, helped t...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 24.Please click...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 24 that are worth another look.European steelmakers need to consolidate to gain better control over pricing and the supply-demand balance as well as to better tackle rising production costs, but it will not solve the major problems of...Read More