A summary of Canadian miner Teck Resources' second-quarter 2020 results for metallurgical coal. In brief Teck completed its Elkview operations plant expansion in British Columbia, reducing metallurgical coal operating costs and improving margins while maintaining total production capacity. The Neptune Bulk Terminals upgrade project in Vancouver, which will secure a long-term, low-cost...Read More
Prices for seaborne iron ore concentrate and pellets fell in the week ended Friday July 24 due to poor demand in the market.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $116.42 per tonne, down $2.82 per tonne 65% Fe blast furnace pellet, cfr Qingdao: $125.67 per tonne, down $2.61 per tonne Key drivers"Port inventories for both concentrate and pellets are at record highs in China, w...Read More
China imported 422,573 tonnes of alumina from the seaborne market in June 2020, up by 57.3% compared with imports of 268,573 tonnes in May, according to Chinese customs data released on Friday July 24.This was almost 7.5 times of the volume of 50,000 tonnes imported in June 2019, and was the highest monthly alumina imports total since February 2016.China has imported 1.91 million tonnes of alumina...Read More
China's domestic hot-rolled coil prices dipped on Monday July 27, but sources are still expecting export prices to remain stable due to mills not being in any rush to sell.DomesticEastern China (Shanghai): 3,920-3,930 yuan ($559-560) per tonne, down 10-20 yuan per tonneDomestic HRC prices fell during the day amid falling futures.Most market participants believe China's ferrous futures market will...Read More
China's domestic rebar prices dropped on Monday July 27 amid weakness in the futures and billet markets, though end-user demand was reported as "good."Domestic Eastern China (Shanghai): 3,580-3,600 yuan ($510-513) per tonne, down by 30-40 yuan per tonneRebar sellers lowered their offers in the morning in response to falling futures.They were hoping to generate more sales by doing so since end user...Read More
The cobalt standard grade, in-whs Rotterdam 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 standard grade, in-whs...Read More
The cobalt alloy grade, in-whs Rotterdam 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. Read More
Diversified downstream requirements on costs and performance will point to the need for different battery chemistries, but in the long run, nickel-rich batteries will dominate the electric vehicle (EV) market, delegates heard during Fastmarkets' "A critical look into the impact of Covid-19 on cathode materials" webinar on Tuesday July 21. Most of the new demand for EV batteries last year were for...Read More
Gold is setting fresh record highs with prices having been as high as $1,943.70 per oz this morning, Monday July 27, while the base metals on the London Metal Exchange were up by an average of 0.8%. Hopes and fears are driving the markets, with the hope of further United States stimulus underpinning equites and industrial metals, while concerns about the US-China diplomatic relations and how the o...Read More
Key data from the Friday July 24 pricing session in Shanghai.Key drivers Exporters continue to raise their offer prices given strong domestic prices amid tight spot market supply. Plants in China's Xinjiang region, which have operated at...Read More
Key data from the Friday July 24 pricing session in Shanghai.Key drivers Producers reporting tight spot supply because the material has already been booked. Speculators are said to...Read More
The price of stainless steel in Europe fell further in the week to Friday July 24 on struggling demand and a resurgence in imports, sources told Fastmarkets.Fastmarkets' weekly assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?1,900-1,950 ($2,214-2,272) per tonne on Friday, down by ?,?30-50 per tonne week on week from ?,?1,930-2,000...Read More
China has issued its 10th round of scrap metal import quotas for 2020, marking its second batch for the third quarter.The latest batch permits 1,110 tonnes of aluminium scrap to enter China, in addition to the 209,660 tonnes allowed in the ninth round of quotas announced on July 6, the China Solid Waste & Chemicals Management Bureau said on Friday July 24.So far in 2020, China has allowed importer...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 12 points in pre-opening trade. Pfizer gained $1.02 to $38.56 after reporting higher than consensus second quarter revenues and earnings. In addition, the company announced plans to enter Phase 3 with its COVID 19 vaccine.McDonald's dropped $4.71 to $196.54 after reporting lower than consensus second quarter earnings....Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More
Here are five Fastmarkets stories you might have missed on Friday July 24 that are worth another look.ArcelorMittal M?(C)xico's integrated steel mill at L??zaro C??rdenas, in the country's western Michoac??n state, has been partly closed by local municipal officials because of alleged tax irregularities, the company said on...Read More