Seaborne iron ore prices mostly decreased on Monday June 1 after the surge on Friday May 29, with market participants waiting for a clear trend. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.45 per tonne, down $1.94 per tonne.62% Fe low-alumina fines, cfr Qingdao: $103.89 per tonne, down $1.11 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $91.93 per tonne, up $4.63 per to...Read More
Hot-rolled coil prices in Vietnam softened over the past week, but movements in the iron ore market will likely stimulate spot demand for the flat steel product from the major buyer, sources told Fastmarkets.Prices for the steelmaking raw material surged last week amid concerns over the supply of high-grade Brazilian materials, which in turn emerged as a result of speculation about there being hun...Read More
The London Metal Exchange has formally canceled this year's LME Week, which was due to take place in London later this year, "due to the Covid-19 pandemic."All of its official events related to the annual gathering will not happen this year, the exchange said in a notice to members on Monday June 1."In the interests of ensuring the safety of all attendees from across the metals industry, the LME h...Read More
China's domestic rebar prices moved up on Monday June 1 following early gains in the futures market that emerged in response to positive data on downstream demand.Domestic Eastern China (Shanghai): 3,570-3,600 yuan ($500-504) per tonne, up by 40 yuan per tonneChina's steel purchasing managers' index for May was 50.9 points, which is 5 points higher than that for April, the China Federation of Logi...Read More
China's hot-rolled coil prices surged on futures gains on Monday June 1, prompting importers to bid above $430 per tonne for Indian material, but sources warned of high risks following the significant increase.DomesticEastern China (Shanghai): 3,650-3,660 yuan ($511-513) per tonne, up 60-70 yuan per tonneNorthern China (Tangshan): 3,630 yuan per tonne, up 60 yuan per tonneTrading was active nation...Read More
Key data from Fastmarkets' pricing session in Europe in the week to Friday May 29.Key drivers Antimony prices edged downward for a third consecutive session on sluggish demand and limited trading in Rotterdam. The metal was also affected by depreciation of the Chinese yuan, which briefly hit...Read More
Outright spot cobalt hydroxide prices picked up in May with buyers seeking nearby units to fill gaps created by delayed shipments out of South Africa, and paying a premium to do so.Fastmarkets' cobalt hydroxide index, min 30% Co, cif China was calculated at $10.32 per lb on Friday May 29, up by 3.41% from the calculation at the end of April.The monthly index takes account of the month's spot cobal...Read More
The offshore yuan is near record lows against the dollar while diplomatic tensions between the United States and China rise, which could lower the price of Chinese-produced metals and minerals.In offshore markets, which are less tightly controlled than markets in mainland China, the yuan briefly hit a record low of 7.20 to the dollar on Thursday May 28. The following day it was trading slightly ab...Read More
Key data from Friday May 29 pricing session in Shanghai.Key drivers Market strengthens amid persistent tight spot supply; limited number of plants in China are producing tellurium and supply of foreign brands remains...Read More
Prices in the European high-carbon and low-carbon ferro-markets increased in in the week ended Friday May 29.In high-carbon trading, industry sources reported deals agreed for more than 1,000 tonnes of alloy that raised the upper end of the price assessment. And deals for about 350 tonnes of more refined-grade material were reported, which had the same effect on the price range in that market.In a...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.PayPal added $1.62 to $156.15 after Deutsche Bank raised its target price from $147 to $183.Visa gained $1.20 to $195.55 after SunTrust RH increase its target price from $200 to $220.Shopify advanced $7.00 to $765.00 after KeyBanc Capital raised its target price from $775 to $805.Lululemo...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More
Brazilian crude steel production dropped by 39% year on year in April, according to figures released by national steel association A??o Brasil early this week.Output totaled 1.81 million tonnes, down from 2.97 million tonnes in April 2019.At least a dozen blast furnaces in the country are currently halted due to weak demand amid the Covid-19 pandemic.Finished steel output reached 1.23 million tonn...Read More
Turkey has told the World Trade Organization (WTO) that it is planning to impose import duties on certain steel products from the European Union.On Monday May 25, Turkey informed the WTO that it plans to impose an additional duty of 9-17% on steel product imports from EU. The products to be affected are hot-rolled flat steel under HS code 7208, cold-rolled flat steel under HS code 7...Read More
The annual sitting of the National People's Congress of the People's Republic of China and the Chinese People's Political Consultative Conference - widely known as the 'twin sessions' - in Beijing released a series of stimulus packages for the development of China's economy amid the Covid-19 pandemic.Market participants harbor mixed sentiment over the impact of the policy measures. Here are eight...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More
Here are five Fastmarkets stories you might have missed on Friday May 29 that are worth another look.Slab export prices in Brazil increased in the week to May 29, with multiple deals and negotiations taking place in Asia.Consumers are starting to pay a premium for low-carbon aluminium - a practice that will grow more widespread over time, the former chief executive officer of Norwegian aluminium p...Read More