China's hot-rolled coil exporters raised offers significantly on Monday November 9 despite thin trading, triggered by slumps in the United States dollar caused by investor expectations of monetary easing in the United States after Joe Biden's presidential election triumph.DomesticEastern China (Shanghai): 4,080-4,100 yuan ($617-620) per tonne, up 40 yuan per tonneTrading was active in the domestic...Read More
Steelmakers in Turkey stepped back from deep-sea purchases on Monday November 9, after the value of the Turkish lira increased by just under 4% in one day, sources told Fastmarkets.Turkish steelmakers booked eleven deep-sea cargoes last week.However, the Turkish currency rebounded sharply after the news of the resignation of Turkey's economy minister and the replacement of the central bank go...Read More
Turkish domestic auto bundle scrap prices have edged further upward in line with imported scrap values over the past week, while ship scrap prices were fairly stable, sources said on Monday November 9.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,210-2,455 lira ($259-288) per tonne on Monday, widening upward from 2,210-2,380 lira per ton...Read More
Iron ore prices increased in both the futures and seaborne markets on Monday November 9, sources told Fastmarkets, supported by rising steel prices and despite stronger sintering restrictions in China's steelmaking hub of Tangshan. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.75 per tonne, up $3.95 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.25 per tonne, up $4.2...Read More
The seaborne hard coking coal index in the cfr market jumped to $125 per tonne on Monday November 9 due to the absence of Australian coal, while the fob market remained relatively weak, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.78 per tonne, down $0.67 per tonne Premium hard coking coal, cfr Jingtang: $144.34 per tonne, up $0.41 per tonneHard coking coal, fob DBCT: $...Read More
A summary of Vedanta Limited's report for the three months ended September 30 - the second quarter of its financial year.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter amounted to 65.31 billion rupees ($881.96 million), up by 45% year on year and 63% higher quarter on quarter Revenues totaled 208 billion rupees - a 33% increase from its first quarte...Read More
China's iron ore imports increased by 14.9% year on year in October 2020, according to data from the General Administration of Customs of China.China's October iron ore imports reached 106.7 million tonnes, up from 92.9 million tonnes in October 2019, according to customs data released on Saturday November 7, although they edged down 1.7% from 108.5 million tonnes in SeptemberIn January-...Read More
Prices for seaborne iron ore concentrate picked up in the week ended Friday November 6 amid growing demand in China ahead of the onset of winter, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $127.66 per tonne, up $1.27 per tonne65% Fe blast furnace pellet, cfr Qingdao: $150.71 per tonne, up $0.16 per tonne Key driversA colder-than-usual winter has been fore...Read More
Market participants reported higher spot demand for rebar in Singapore in the week to Monday November 9, raising the import price by 0.5%. A number of smaller buyers were heard to be in the spot market looking for smaller cargoes, with a trader attempting to secure 40,000-50,000 tonnes of orders before sourcing for supply from Turkish steel mills. The buyers are sourcing January-shipment cargoes,...Read More
China's domestic rebar prices increased sharply on Monday November 9 to their highest since December 2019 on rising futures. DomesticEastern China (Shanghai): 4,030-4,060 yuan ($609-614) per tonne, up by 140 yuan per tonneStock and commodity markets in China strengthened during the day amid a bigger appetite for higher-risk investments among punters following the outcome to the United States presi...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly stronger this morning, Monday November 9, after markets reacted positively to Joe Biden winning the US presidential election and the resulting weaker dollar. China's unwrought copper imports climbed 43% in October, year on year. China total exports climbed by 11.4% in October from a year ago, while total...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.Fastmarkets assessed cobalt...Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday November 6.China Chinese exporters raised offer prices mainly due to the recent rapid appreciation of the Chinese yuan against the US dollar and firm domestic prices. There was no deal concluded due to the big price discrepancies between offer prices and what overseas consumers could accept. The dome...Read More
Seaborne prices for both low and high-grade manganese ore in China continued to trend down in the week to Friday November 6 after miners lowered offer prices for December shipments on persistently weak sentiment, partly due to record high port inventories, sources told Fastmarkets.Lower offers sparked some buying interest and led to improved liquidity in the past week as a result, sources said. Fa...Read More
The domestic Chinese magnesium price picked up during the first week of November after producers raised their offer prices, however, weak downstream demand limited the price growth, sources said.Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,500-12,600 yuan ($1,890-1,906) per tonne on Friday November 6, an increase of 100 yuan per tonne from 12,400-12,500 yuan per tonne...Read More
The European Commission (EC) has ended an anti-subsidy investigation into hot-rolled stainless steel sheet and coil originating from China and Indonesia, the EC said on Monday November 9.The investigation was terminated after European steel association Eurofer withdraw a complaint on September 18, 2020. The EC started an anti-subsidy investigation on October 10, 2019 after Eurofer.....Read More
After seven consecutive weeks of decline, portside prices for low- and high-grade manganese ore in China halted their downtrends with the high-grade one even registering slight gains in the week to Friday November 6 on increased buying interest from alloy smelters. Fastmarkets' manganese ore port index, base 37% Mn, range 35-39%, fot Tianjin, China was 30.60 yuan ($4.63) per dry metric tonne...Read More
Chinese steel production has been enough to cushion the global vanadium market from weaker demand in Europe and the United States in the fall-out from the coronavirus pandemic, according to Paulo Misk, president and chief executive of Largo Resources. "China - the country we [in February] thought was most affected [by Covid] - actually saw a surge of vanadium consumption. In the first half of 2020...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mainly lower this morning, Tuesday November 10, while prices consolidated after Monday’s double dose of positive news - that of Joe Biden winning the US presidential election and Pfizer announcing progress toward a potential Covid-19 vaccine.* Asian Pacific equities mainly higher on the back of the vaccine...Read More