Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia remained firm over the past week in the expectation that the region will soon recover from the Covid-19 outbreak, sources told Fastmarkets on Tuesday June 23.UAEOffer prices for hot-rolled coil (HRC) from China were heard in the UAE at $460-470 per tonne cfr, while offers from India came in at around $450 per ton...Read More
Steel rebar and billet import prices in the United Arab Emirates have remained fairly stable over the past week, while domestic rebar prices have risen slightly, sources said on Tuesday June 23.Domestic rebarThe country's biggest producer, Emirates Steel, increased its rebar offers to 1,773 dirhams ($483) per tonne ex-works from June 16, up from 1,690 dirhams per tonne ex-works a week before.Follo...Read More
Seaborne iron ore prices were mixed on Tuesday June 23, amid continuing concerns over the demand outlook for finished steel products. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.62 per tonne, down $1.13 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104.22 per tonne, up $0.03 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $91.28 per tonne, up $0.51 per...Read More
Seaborne premium hard coking coal prices went up on Tuesday June 23 after most market participants increased their estimates in the segment in accordance with recent transactions, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.93 per tonne, up $1.15 per tonne Premium hard coking coal, cfr Jingtang: $118.76 per tonne, up $1.40 per tonneHard coking coal, fob DBCT: $89....Read More
Fastmarkets is inviting feedback from the industry on its pricing methodology for its Taiwan steel scrap price assessment as part of its annual methodology review process, in compliance with the International Organization of Securities Commissions (Iosco) principles for price reporting agencies.This consultation, which will be open until July 24, 2020, seeks to ensure that our methodology continue...Read More
China's hot-rolled coil prices weakened on Tuesday June 23 amid falling futures, while mills raised their export offers despite overseas buyers showing little interest in Chinese products.DomesticEastern China (Shanghai): 3,730-3,750 yuan ($527-530) per tonne, down 10-20 yuan per tonneSources told Fastmarkets that trading activity in China's domestic HRC market weakened during the day due to senti...Read More
China's domestic rebar prices dropped slight on Tuesday June 23 due to persistent rain affecting demand in many parts of the country.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($503-507) per tonne, down by 20 yuan per tonneWorking hours at construction sites have shortened due to the rainy season affecting many regions in China, which also has an effect on truck transportation.High temper...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
The cobalt standard grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. 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...Read More
Broader markets were consolidating this morning, Wednesday June 24, underpinned by better economic data, but conversely held back by concerns about how the spread of the Covid-19 is accelerating in some regions; the spread in some mining countries is now a potential threat to supply.* Tuesday’s flash June purchasing managers’ index (PMI) data shows the global economy is recovering at a b...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 22 points in pre-opening trade.Shopify added $1.54 to $912.88 after KeyBanc Capital raised its target price from US$805 to U$1,000.Aurora Cannabis added $0.03 to $13.67 after Stifel Nicolaus raised its target price from Cdn$6.20 to Cdn$17.50. Constellation Brands added $0.54 to $181.00 after Deutsche Bank raised its t...Read More
Here are five Fastmarkets stories you might have missed on Monday June 22 that are worth another look.The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.Chilean state-run copper producer Codelco has decided to halt a...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Monday June 22, topping the complex with a 1.8% uptick despite thin trading volumes, while zinc's forward curve loosened over the afternoon.Copper's outright price on the LME closed at $5,880.50 per tonne on Monday afternoon, climbing from an intraday low of $5,807 per tonne, but failed to breach nea...Read More
Production at Hydro's Paragomias bauxite mine, in the state of Par?? in northern Brazil, has been temporarily halted due to a power outage, the producer said on Monday June 22.Three power transmission towers overturned on June 20, cutting the power supply to the mine, the company said.The Paragominas mine delivers bauxite to the Alunorte alumina refinery in Barcarena via a 244-kilometer pipel...Read More
Chilean state-run copper producer Codelco has decided to halt all of its construction projects in the north of the country, including the underground phase of Chuquicamata, while the Covid-19 pandemic spreads across the region, the company said on Saturday June 20.The current operations of the open pit at Chuquicamata will be maintained, however, with workers from the city of Calama, 20km to the s...Read More
Production at Hydro's Paragomias bauxite mine, in the state of Par?? in northern Brazil, has been temporarily halted due to a power outage, the producer said on Monday June 22.Three power transmission towers overturned on June 20, cutting the power supply to the mine, the company said.The Paragominas mine delivers bauxite to the Alunorte alumina refinery in Barcarena via a 244-kilometer pipel...Read More
Here are five Fastmarkets stories you might have missed on Monday June 22 that are worth another look.The dramatic consequences of the Covid-19-related lockdowns across Europe, and the corresponding shutdowns of industrial activities, have resulted in an enormous disruption to the supply chains across all sectors of the steel industry.Chilean state-run copper producer Codelco has decided to halt a...Read More
China's electrolytic manganese flake export price maintained its one-year low on Friday June 19 on lower offers from traders amid sluggish overseas demand, sources said.Fastmarkets' weekly price assessment for manganese 99.7% electrolytic manganese flake, fob China was $1,430-1,500 per tonne on Friday June 19, unchanged from a week earlier. This is a new annual low since June 21, 2019, when the pr...Read More
Turkish domestic scrap prices have remained fairly stable over the past week, with most market participants believing that prices have reached a peak, sources said on Monday June 22.The steel mills adjusted their buy prices for domestic scrap in line with their stock levels and finished long steel sales over the past week.Three steel producers increased their buy prices for auto bundle scrap by 20...Read More
Despite fears of second waves of the Covid-19 virus, base metals prices on the London Metal Exchange were generally holding up well this morning, Monday June 22. But while prices are holding up well, they do seem to have lost upward momentum.Asian-Pacific equity and pre-market major western equity index futures were mainly weaker this morning.Gold prices gapped higher this morning, suggesting inve...Read More