Iranian billet producers maintained offers to overseas customers in the week to June 24, supported by demand in the domestic market, Fastmarkets learned. "Around 100,000 tonnes of billet were sold in the Tehran Metal Exchange [Iran Mercantile Exchange in the week to June 24]. Local demand is crazy and cargo was sold at much better prices than the export market can accept," one trader said on Wedne...Read More
German steelmaker Salzgitter has taken a "concrete" step toward its low-carbon production goal by agreeing to a feasibility study with its industrial partners, the company announced on Wednesday June 24.The company agreed with the Federal State of Lower Saxony, the City of Wilhelmshaven and its industrial partners, logistics company Rhenus and energy company Uniper, to conduct a feasibility study...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent announcement about Vale's resumption of operations in Brazil, along with new concerns about a slump in demand because of heavy rainfall in China, has resulted in the end of the iron ore price rally. There has also been pressure from tight steel spreads, with the operating margins for Chinese steel mills shrinking...Read More
Prices for deep-sea origin steel scrap imported to Bangladesh fell over the past week after a new sale from the United States closed at lower numbers, market sources told Fastmarkets on Thursday June 25. A Bangladeshi mill purchased a bulk cargo from the US Pacific Northwest region comprising 13,000 tonnes of HMS 1&2 (80:20) at $275 per tonne cfr and 24,000 tonnes of shredded at $280 per tonne cfr...Read More
Seaborne iron ore prices were flat on Thursday June 25 amid a public holiday in China to mark the Dragon Boat Festival.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $103.34 per tonne, unchanged 62% Fe low-alumina fines, cfr Qingdao: $106.49 per tonne, unchanged 58% Fe fines high-grade premium, cfr...Read More
Seaborne premium hard coking coal prices were unchanged on Thursday June 25 amid an absence of Chinese market participants due to a public holiday in China to mark the Dragon Boat Festival.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.79 per tonne, unchanged. Premium hard coking coal, cfr Jingtang: $122.83 per tonne, unchanged.Hard coking coal, fob DBCT: $89.57 per tonne,...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 at $14.15-14.65...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
CORRECTION AND APOLOGY TO JINWANG BISMUTH When Fastmarkets first published the below article, on Monday 22 June 2020, it erroneously stated that Jinwang Bismuth was in bankruptcy. Jinwang subsequently made clear to us that the claim was not correct, that Hunan Jinwang Bismuth has applied to the People's Court of Chenzhou for restructuring, and that it remains a going concern. Fastmarkets acted dil...Read More
CCMA has hired James Heywood as a trader, the US metal and alloy raw materials trading house told Fastmarkets.Heywood, who will be based in Europe, joined the company this month with the task of expanding CCMA's European business, it told Fastmarkets on Wednesday June 24. His focus will be in minor metals and noble alloys as well as assisting...Read More
Credit ratings agency Fitch Ratings has downgraded Ferroglobe for the third time in a year, citing the company's limited ability to sell additional assets while enduring continued declines in silicon prices. In the latest downgrade, to a rating of 'CCC-' from 'CCC+', Fitch said it does not expect an improvement in silicon metal prices until 2021, "with recovery likely to be slow and fragile"."Alth...Read More
Turkey has returned to the ferrous scrap market and purchased a cargo from the United States at lower prices compared with previous deals.The 27,500-tonne deal includes an 80:20 mix of No1 and No2 heavy melting scrap at $261 per tonne,...Read More
Markets were mainly firmer this morning, Friday June 26, with the base metals up across the board and most Asian-Pacific equities indices showing gains, while gold prices were consolidating - all of which suggesting a light risk-on sentiment.* Pre-market major European equity index futures were up by around 0.7%, following gains in the United States on Thursday.* Global trade dropped by 12.1% in A...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.Index futures moved slightly higher following release of economic news at 8:30 AM EDT. Consensus for May Personal Income was a drop of 6.0% versus a gain of 10.5% in April. Actual was a drop of 4.2%. Consensus for May Personal Spending was an increase of 9.3% versus a drop of 12.6% in Apri...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Nickel premiums in all regions traded flat in the week ended Tuesday June 23, with demand for the metal being weak in all global markets.Negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange kept China trade subduedUptick in European briquette inquiries on SHFE deliverability from October failed to result in higher premiumSubdued spot trade steadied US nickel premiums....Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
Export prices for Japanese steel scrap fell heavily over the past week with exporters reducing rates to stimulate fresh bookings, market sources told Fastmarkets on Wednesday June 24.Asian buyers shunned Japanese scrap offers last week, citing the fact that prices were too high, and instead concentrated on booking material from other sources such as the United States West Coast.Fastmarkets' price...Read More