Turkish steel mills were quiet in the deep-sea scrap markets ahead of an upcoming Republic Day holiday on Thursday and Friday, sources told Fastmarkets on Wednesday October 27.The most recent cargo was recorded on Tuesday, when a steel mill in the Marmara region booked a cargo from the United States, consisting of 20,000 tonnes of HMS 1&2 (90:10) and 10,000 tonnes of shredded at an average price o...Read More
Steel scrap buyers in South Korea have continued to chase bulk bookings from Japan in recent days at increasingly high prices, market sources told Fastmarkets on Wednesday October 27.?EUR?South Korea books more scrap?EUR?Tokyo Steel Utsunomiya raises buy price again?EUR?China prices continue downtrend amid bearish sentiment in finished steel markets?EUR?Taiwan prices retreat on weakening sentiment...Read More
Seaborne coking coal prices in both the fob and cfr markets were relatively flat on Wednesday October 27. And China's National Development and Reform Commission (NDRC) intervened in the coal market to curb thermal coal prices, which led to a sharp drop in the coal and coke futures market.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $614.46 per tonne, up by $0.09 per tonneHard coking...Read More
Seaborne iron ore prices inched downward on Wednesday October 27 because most market participants were cautious about procurement amid the generally weak demand outlooks for the rest of 2021, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.86 per tonne, down by $2.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.15 per tonne, down by $1.96 per tonne58% Fe fin...Read More
A summary of Canadian metal producer Teck Resources' unaudited third-quarter results, as announced by the company on Wednesday October 27.In brief Teck's adjusted earnings before income, tax, depreciation and amortization (Ebitda) for the third quarter was C$2.1 billion ($1.69 billion), more than triple the Ebitda of the year-earlier period at C$638 million. The Canadian company's gross prof...Read More
China imported 4.35 million tonnes of coking coal in September, down by 35.3% year on year and 7.2% lower month on month, the latest Chinese customs data shows.The United States remained China's largest source of coking coal last month, accounting for 1.47...Read More
Spot prices for hot-rolled coil in China fell further on Wednesday October 27, with the coal-led broad-based decline in the futures markets resuming following the state planner's latest attempt at cooling coal prices.DomesticEastern China (Shanghai): 5,390-5,480 yuan ($843-857) per tonne, down by 70-110 yuan per tonneSpot prices covered a wide range on Wednesday, as the most-traded HRC contract on...Read More
China's domestic rebar prices dropped sharply on Wednesday October 27 due to high supplies and weak demand.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($814-819) per tonne, down by 150-170 yuan per tonneThe supply of coal to major power plants has been higher than consumption for 20 days, according to a report by state-owned CCTV...Read More
The three-month aluminium price on the London Metal Exchange was the underperformer during morning trading on Wednesday October 27, but all the base metals were weaker amid growing macroeconomic headwinds.Aluminium was down to $2,734 per tonne at 9am on Wednesday, with over 15,000 lots of the light metal traded, accounting for three quarters of the total volume traded on Tuesday, of 20,371 lots. A...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 27Key drivers?EUR? As of Wednesday October 27, European ferro-titanium suppliers have held their offer prices steady for the second consecutive week. This came amid subdued trading activity ahead of Fastmarkets' annual conference scheduled for next month in Prague.?EUR? Suppliers expected prices to be stable until that confe...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...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 standard grade, in-whs Rotterdam, $/lb at 27.10-27.65 on...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 assessed Cobalt alloy grade,...Read More
A summary of the financial results for Swedish steelmaking group SSAB for the third quarter of 2021.In brief SSAB reported another strong quarterly performance, linked to higher steel prices First fossil-free plates rolled in Oxel??sund Strong earnings reported despite maintenance at some locations Shortage of semi conductors muted automotive demand in EuropeSSAB Special steels revenue5.99 bi...Read More
A flurry of export sales off the East Coast and Florida has put further supply pressure on an already tight US ferrous scrap market.An East Coast sale that was reported on October 22 for an 80:20 mix of No1 and No2 heavy melting scrap priced at $510 per tonne and shredded scrap at $530 per tonne raised eyebrows for its high selling price.It is too early to tell whether this cargo is an outlier tha...Read More
More than 10% of the global container fleet is waiting for berths to become available around the world, with effective capacity being "severely limited by port congestion," shipping giant Maersk said this week.While all vessels have been deployed, 12.5% of capacity has been removed while effects of vessel delays continue to worsen, it said, quoting Sea-Intelligence Maritime Analysis.Trade growth m...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 14 points in pre-opening trade. Trading volume was relatively quiet this morning prior to release of annualized third quarter real GDP at 8:30 AM EDT. Consensus is growth at a 2.8% rate versus growth at a 6.7% in the second quarter. Ford added $1.36 to $16.87 after reporting higher than consensus third quarter results....Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
The aluminium industry could reduce the carbon intensity of its metal production to under one tonne by 2050 if it works towards limiting the rise in the mean global temperature to 1.5 ?C above pre-industrial levels, the International Aluminium Institute (IAI) said.In this 1.5 ?C scenario, carbon intensity would fall from an average of 16.1 tonnes of carbon dioxide (CO2) per tonne of aluminium curr...Read More