Steel H-beam prices in Northern and Southern Europe moved in different directions this week, although both regions reported weak levels of trading activity, sources told Fastmarkets on Wednesday September 4.Fastmarkets' price assessment for steel beams, domestic, delivered Northern Europe, was ?,?565-600 ($619-657) on September 4, down from ?,?575-605 per tonne a week ago.One market participa...Read More
US ferrous scrap exporters have conceded that the global and domestic scrap markets are under pressure and have continued to sell cargoes at deeper discounts.Two East Coast deals to Turkey have been concluded at lower prices this week.One East Coast exporter sold a 30,000-tonne cargo on Tuesday September 3, priced at $261 per tonne cfr for 17,5000 tonnes of an 90:10 mix of No1 and No2 heavy meltin...Read More
The US stainless steel scrap market is in a state of flux as market participants try to digest nickel's recent rally.The LME's cash nickel contract closed the official session at $17,910 per tonne ($8.12 per lb) on Wednesday September 4, up 11.8% from $16,025 per tonne ($7.27 per lb) a week ago. The contract jumped sharply, by $2,280 per tonne ($1.03 per lb), between Thurs...Read More
Turkish steel producers have bought several deep sea cargoes from various locations at heavily reduced prices, sources told Fastmarkets on Wednesday September 4.There were three confirmed cargoes today - two from the United States and another from the United Kingdom.A steel mill in the Marmara region purchased a UK cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $250 per tonne cfr. This compa...Read More
Seaborne iron ore prices pushed up on Wednesday September 4 after looser production restrictions were confirmed for steelmakers in Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.32 per tonne, up $2.18 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $91.71 per tonne, up $2.18 per tonne.62% Fe low-alumina fines, cfr Qingdao: $89.10 per tonne, up $2.30 per tonne...Read More
Seaborne coking coal prices were largely stable on Wednesday September 4, with Chinese end users continuing to procure top-quality Australian materials.Fastmarkets indicesPremium hard coking coal, fob DBCT: $155.27 per tonne, down $0.12 per tonne Premium hard coking coal, cfr Jingtang: $169.34 per tonne, up $1.37 per tonneHard coking coal, fob DBCT: $134.01 per tonne, unchangedHard coking coal, cf...Read More
The somber trading sentiment in Asia is turning exceedingly bearish, with ferrous scrap prices plunging to levels not seen for years, market sources told Fastmarkets."It's gloom and doom all over the place. No one has anything good to say about the ferrous scrap markets at this point in time," a trading manager in Singapore told Fastmarkets.Several of the key price points in Asia have shown sharp...Read More
Hot-rolled coil prices in eastern China gained more strength on Wednesday September 4, while those in the northern region fell amid thin trading.DomesticEastern China (Shanghai): 3,670-3,690 yuan ($511-514) per tonne, up 20 yuan per tonneNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneIn Shanghai, spot prices rose after mills raised their offers in the morning amid gai...Read More
China's domestic rebar prices moved up slightly on Wednesday September 4 on increased buying activity amid a strengthening of the futures market.Domestic Eastern China (Shanghai): 3,630-3,660 yuan ($507-511) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,600-3,630 yuan per tonne, widened upward by 10 yuan per tonneRebar futures experienced a strong morning and rose to a high of 3,443 y...Read More
While lack of progress on United States-China trade talks remains ever present, the potential removal of the logjam over Hong Kong seems to be providing some cheer across markets.Europe, Japan and the US are now suffering manufacturing contraction, but there are early signs that parts of China's economy are starting to recover. Following a rebound in the Caixin manufacturing purchasing managers' i...Read More
After a period of correction that lasted for about three weeks, the price for Chinese cobalt metal has been given fresh strength by rising raw materials costs and tightened spot supply.Fastmarkets' price assessment for cobalt, 99.8% Co min, ex-works China, was 265,000-285,000 yuan per tonne (equivalent to $14.83-15.95 per lb, minus China VAT) on Wednesday September 4. This was up by 2.2% from 258,...Read More
An overview of the minor metals markets and their latest price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lbClick here...Read More
The following Fastmarkets minor metals prices changed on Wednesday September 4:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,700-5,900 per tonne from $5,750-5,950Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,700-5,900 per tonne from $5,700-5,950Antimony MMTA standard grade II, ddp...Read More
The Fastmarkets holiday pricing schedule has been updated to reflect a change in the UK public holiday calendar. The UK government has changed the date of the Early May bank holiday in 2020 to Friday May 8 to mark the 75th anniversary of VE Day. This will affect the publication of some Fastmarkets prices, which have been noted in the holiday pricing schedule 2019-2020.Please click on the image bel...Read More
Key data from Fastmarkets' Wednesday September 4 pricing session in Europe.Key driversThe ferro-titanium market is stable, with industry sources reporting deals done within the current price range and market attention turning to consumer tenders due in the next few weeks. Almost 120 tonnes of alloy was reported sold in the past few days, with more tonnages heard at the upper end of the latest asse...Read More
The markets have been under steady pressure for so long that the combination of good news about Hong Kong, with the withdrawal of the extradition bill, and reports that high level US-China trade talks will resume in October, have been enough to lead a relief rally. This saw the three-month base metals prices on the London Metal Exchange rise by an average of 2.4% on Wednesday September 4.The rally...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade. Index futures responded to news that trade negotiations between China and the U.S. will resume early in October.The S&P 500 Index is scheduled to open above short term resistance at 2643.31.Index futures moved slightly higer following release of economic news at 8:15 and 8:30 AM EDT....Read More
The three-month lead price on the London Metal Exchange showed the greatest losses at the close of trading on Tuesday September 3, falling by some 1.6% to close at its lowest level since August 6.Meanwhile, a steady downturn in nickel's outright price saw it close below $18,000 per tonne.Lead futures began their decent during late in the morning, dipping below the support level at $2,000 per tonne...Read More
The London Metal Exchange three-month price nickel price held gains above $18,000 per tonne during morning trading on Tuesday September 3, while a fresh cancellation of around 22,725 tonnes of copper inventory did little to raise the red metal's stagnant price. The nickel price was the standout performer this morning, with trading volumes of just under 6,000 lots exchanged as of 9.30am London time...Read More