Steelmakers in Bangladesh largely abstained from the market for import bulk scrap cargoes over the last week but offer prices increased due to recent deals done in India and Pakistan, market sources told Fastmarkets on Thursday June 4. Mills in India and Pakistan bought bulk cargoes from the US West Coast over recent days at increased prices amid stronger demand for scrap, low bulk freight ra...Read More
China's domestic rebar market maintained its upward trend on Thursday June 4 on early gains experienced by rebar futures, though high temperatures in several regions weakened demand.Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($508-513) per tonne, up by 10 yuan per tonneThe most-traded October rebar futures contract rose to a high of 3,679 yuan per tonne in the first hour of trading. This...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade 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 the price of cobalt...Read More
The cobalt standard grade, in-whs Rotterdam, trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trade 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...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works,...Read More
Cobalt sulfate prices in China retreated slightly in the first half of the week with concerns over a persistent slump in demand outweighing feedstock supply constraints, but market participants expect any drop to be only limited in the near term.Nevertheless market participants are taking a watchful stance in terms of the moves of cobalt sulfate - and whether the persistent weak demand might...Read More
Copper scrap flows in the United States have begun strengthening due to an increase in the Comex copper price and a seasonal uptick in scrap production during the summer months, but this modest increase in supply has not yet eased copper scrap discounts.The most active July-delivery Comex copper contract settled at $2.4875 per lb on Wednesday June 3, up by 4.4% from $2.382 per lb one week earlier....Read More
Japanese suppliers of H2 heavy scrap are experiencing difficulty in sourcing for supply, which has led to a rise in export prices for a second week, market sources told Fastmarkets.Low supply has resulted in dockside scrap prices climbing again over the past week, which push up export offers and exert pressure on domestic steelmakers' margins since they are also struggling to obtain material."The...Read More
The metals were mixed again this morning, Friday June 5, but Asian-Pacific equities were mainly stronger, as were pre-market major western equity index futures. * The unemployment rate in the United States is expected to climb to 19.4%.* Equities have followed history by focusing on governments’ monetary/fiscal actions...* ...but can money alone right the impact of the virus, or can only a va...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 46 points in pre-opening trade. The NASDAQ Composite Index is expected to open above its previous all-time high at 9,638.37 set in March.Index futures moved strongly higher following release of the May U.S. employment report at 8:30 AM EDT. Consensus for May Non-farm Payrolls was a drop of 8.0 million versus a drop of...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 3 that are worth another look.Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on June 3.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 4% mont...Read More
The closure of the arbitrage window between London and Shanghai prompted a drop in Chinese zinc premiums in the week to Tuesday June 2, while broad stagnancy in European and US demand kept premiums firm, although some market participants anticipate that demand could further weaken in the coming months. Cif Shanghai premium dipped as demand diminished in line with arbitrage window's close Sout...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 3.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 3 that are worth another look.Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on June 3.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 4% mont...Read More
An earthquake with a magnitude of 6.8 has hit the Antofagasta region of Northern Chile, which is home to a cluster of major copper mines, Fastmarkets understands.The US Geological Survey said the earthquake occurred in the early morning local time on Wednesday June 3, with the epicentre of the quake reportedly in the southwest of San Pedro de Atacama. Major copper mines close to the epicentre incl...Read More
Key data from the pricing session in London on Wednesday June 3.Key drivers: Standard-grade cobalt prices drifted further on the low-end of the quote, on continuing good availability, despite the suspension of production at Ambatovy. Offers were being revised to the low side, and sellers opened to bids, in light of thin demand refently, and uncertain...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 3 that are worth another look.Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on June 3.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 4% mont...Read More
Turkish steel producers have continued to book more deep-sea scrap cargoes at steady prices, sources told Fastmarkets on Wednesday June 3.A steel mill in the Izmir region booked a US cargo, comprising shredded scrap at $259.50 per tonne and plate & structural scrap (P&S) at $264.50 per tonne cfr late on Tuesday June 2. The cargo's composition and volumes were not clear at the time of publicat...Read More
Fastmarkets is launching a two-month consultation on the launch of new copper material price and the potential discontinuation of its monthly assessment of the No2 copper scrap discount on a cif China basis.Under a new categorization policy being introduced in China, most No2 scrap could be traded as renewable copper materials starting from July 2020. Background to the consultationA...Read More