The UK market for deliveries of steel scrap to domestic consumers has dropped month-on-month in line with demand, with steelmakers positioning their smelting schedules for the seasonal summer slowdown.But there was enough support to avoid significantly steeper losses, market sources told Fastmarkets on Monday July 13.Consumers of steel scrap in the UK were expected to cut production in late July a...Read More
Turkish steel producers paused their deep-sea scrap purchases once again at the beginning of the week after booking only two deep-sea cargoes late last week, sources told Fastmarkets on Monday July 13.Turkish steel producers have not been rushing to buy deep-sea scrap so far this month due to weak finished long demand in both the local and export markets.At the end of the last...Read More
Domestic scrap prices in Turkey remained stable over the past week in line with static scrap import values, sources said on Monday July 13.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,660-1,870 lira ($242-273) per tonne on Monday, unchanged week on week. Only one steel...Read More
Seaborne iron ore prices surged on Monday July 13 amid active trading on the platforms and strong gains in the iron ore futures market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $111.09 per tonne, up $4.77 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $112.85 per tonne, up $4.55 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $99.18 per tonne, up $4.35 per tonne. https://w...Read More
Seaborne premium hard coking coal prices edged downward on Monday July 13 on the influence of recent deals, but there was no activity in the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.49 per tonne, down by $0.54 per tonnePremium hard coking coal, cfr Jingtang: $123.11 per tonne, down by $1.69 per tonneHard coking coal, fob DBCT: $93.66 per tonne, down by $0.17 per tonneHard...Read More
Australia's three main coal terminals in Queensland, including Hay Point Coal Terminal (HPCT), Dalrymple Bay Coal Terminal (DBCT) and Abbot Point, exported a total of 12.2 million tonnes of coal in June 2020. According to statistics from the North Queensland Bulk Ports (NQBP) authority, which controls all three ports, exports from HPCT reached 5.2 million tonnes in June, up by 10.8% month on month...Read More
Copper futures in London and Shanghai soared in early morning trading on Monday July 13 after miners in Chile declared they would strike over wages, Fastmarkets understands.Unionized workers at Antofagasta's Zaldivar mine voted to strike - scheduled for Wednesday July 15 - with 99% of members rejecting a pay offer, Reuters reported. As per Chilean law, the government must mediate between the parti...Read More
Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.US earnings seasons starts this week, so expect a pick-up in volatility......expectations are for bad results, but the market's reaction will depend on how bad they are. Base metals Three-month base metal...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...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 Rotterdam...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended on Friday June 10.Europe Prices fell by nearly 5% for both grades with suppliers cutting offer prices and doing deals well below the previous range. During the week, there were slightly more bids reported from traders in comparison with the very quiet previous months, while producers showed no resistance...Read More
UC Rusal's credit may suffer from a $2.1 billion fine imposed on Nornickel, almost 28% of which is owned by Rusal, Fitch Ratings said.A drop in dividends Rusal normally receives from Nornickel coupled with weak aluminium markets through 2021, could see Rusal becoming further indebted, the credit rating agency said on Thursday July 9. Fitch based its scenario on Nornickel paying in full this year t...Read More
Spot payables for cobalt hydroxide consolidated at four-month highs last week, with support from sellers' continued cautious approach to additional sales outside long-term agreements. Fastmarkets' cobalt hydroxide payable indicator min 30% Co, cif China held at 66-68% on Friday July 10, its highest level since March 11 (taking the mid-point of the range). Short-lived border closures in Africa, on...Read More
Stainless steel prices in the United States edged up in July on higher surcharges, although the uptrend was partially offset by some service centers obtaining lower prices on larger purchases from mills said to be unloading inventory. Demand also rose modestly, with some service centers reporting strong surges in demand that began at the end of June.Fastmarkets' price assessments for stainless ste...Read More
Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty. * China’s imports and exports climbed in June, a sure sign of improved economic conditions, albeit after months of hardship.* United States President Donald Trump said last week...Read More
Analog Devices (ADI), a NASDAQ 100 stock moved below $115.07 completing a double top pattern.Automatic Data Processing (ADP), a NASDAQ 100 stock moved below 142.44 setting an intermediate downtrend. Pre-opening Comments for Tuesday July 14thU.S. equity index futures were higher this morning. S&P 500 futures were up 3 points in pre-opening trade.Index futures moved slightly lower following...Read More
Here are five Fastmarkets stories you might have missed on Friday July 10 that are worth another look.The United Steelworkers union in Canada has warned that certain steel products from the nation, along with aluminium, could again be hit with Section 232 tariffs by President Donald Trump's administration.Aluminium has an opportunity to play a key role in the government-led rebuilding of economies...Read More
Here are five Fastmarkets stories you might have missed on Friday July 10 that are worth another look.The United Steelworkers union in Canada has warned that certain steel products from the nation, along with aluminium, could again be hit with Section 232 tariffs by President Donald Trump's administration.Aluminium has an opportunity to play a key role in the government-led rebuilding of economies...Read More
Here are five Fastmarkets stories you might have missed on Friday July 10 that are worth another look.The United Steelworkers union in Canada has warned that certain steel products from the nation, along with aluminium, could again be hit with Section 232 tariffs by President Donald Trump's administration.Aluminium has an opportunity to play a key role in the government-led rebuilding of economies...Read More
Here are five Fastmarkets stories you might have missed on Friday July 10 that are worth another look.The United Steelworkers union in Canada has warned that certain steel products from the nation, along with aluminium, could again be hit with Section 232 tariffs by President Donald Trump's administration.Aluminium has an opportunity to play a key role in the government-led rebuilding of economies...Read More