China's domestic and export prices for hot-rolled coil surged on Monday April 8 on improved sentiment, which took many overseas buyers by surprise.DomesticEastern China (Shanghai): 3,950-3,970 yuan ($588-591) per tonne, up 60-70 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, up 50-60 yuan per tonneThe day's price increases were largely attributed to the strength of the iron or...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
Import prices for re-rolling-grade hot-rolled coil into Vietnam were stable over the past week on limited demand.Fastmarkets MB's weekly import price assessment for HRC in Southeast Asia - which mainly looks at Chinese 2-3mm SAE1006 HRC and equivalent grades sold into Vietnam - was $540-545 per tonne cfr for the week ending Monday April 8, unchanged from the preceding week.Offers were at $545-554...Read More
Turkish domestic scrap prices have gone down slightly over the past seven days in line with falling imported scrap values, sources said on Monday April 8.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,695-1,870 ($301-332) per tonne delivered on Monday, widened downward from last week's TRY1,700-1,870 per tonne.This slight change came after a numb...Read More
Physical iron ore prices increased further on Monday April 8, with Fastmarkets' MB 62% Fe Iron Ore Index jumping above $95 per tonne cfr China following surges in the derivatives markets.MB 62% Fe Iron Ore Index: $95.30 per tonne cfr Qingdao, up $2.40 per tonne. MB 62% Fe Pilbara Blend Fines Index: $94.42 per tonne cfr Qingdao, up 2.40 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $97.60 per to...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62%...Read More
Seaborne coking coal prices were largely stable on Monday April 8 amid thin trading.A cargo of premium mid-vol hard coking coal was offered at 103% of a basket of indices while a shipment of a lower-ranked brand was offered around 98-99% against the same indices, an Indian end-user source said. He did not specify the shipment dates for these...Read More
A summary of Vedanta's production results for the fiscal year ended on March 31, 2019.In brief Vedanta's Indian copper output decreased sharply by 78% due to the Tuticorin smelter's shutdown after protests against its plans to double capacity reached fever pitch toward the end of March.Custom copper volumes at the company's Zambian projects decreased by 22% to 87,000 tonnes over the 2019 financial...Read More
The London Metal Exchange has issued its first code of conduct, outlining standards for behavior that were intended to promote a cooperative working environment, it said in a note to members on Monday April 8.The code of conduct will extend to the LME's entire market remit, and will apply to staff members of LME Group, member employees, visitors at any of the exchange's premises, and to anyone who...Read More
Fastmarkets hosted a free web seminar with the London Metal Exchange on Monday April 8 to introduce the new LME cobalt contract, cash-settled against Fastmarkets' benchmark cobalt price. If you missed it, follow the link below to listen to the free recording. Introducing the new Fastmarkets-settled LME cobalt contract During the web seminar we discussed: Fastmarkets' price discovery...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Monday April 8, with the strength in the US dollar index capping prospective gains while low LME stocks fuel upward price momentum. Copper's three-month price was trading around 1% higher over the morning, making a marginal recovery after falling below $6,400 per tonne and selling-off more than 2% of its three-mon...Read More
Progress in US-China trade negotiations over the weekendhelped push up base metals prices on the London Metal Exchange in early morning trading on Monday April 8. Further progress on US-China trade negotiations was reported over the weekend by Chinese state media CCTV. The overall tone was positive, with CCTV claiming that both sides are working on a draft to address technology transfers, pro...Read More
Key data from the pricing session in London on Friday April 5. Key drivers The European 553 silicon price fell 3.1% during the latest pricing session in a very low liquidity market in which some offers below the previous range started to emerge. The silicon grade 441 quotation also softened on a lack of liquidity...Read More
The benchmark standard-grade cobalt price rebounded in the last week of March, after having been under pressure during the previous five months, when traders and consumers returned to the spot market to restock following a rundown in inventories.Price moves Fastmarkets' standard-grade cobalt assessment rose 2.2% to $13.75-14.4 per lb on Friday March 29, the last pricing session in March. The...Read More
Fastmarkets will change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis, effective on Wednesday April 10. In addition, Fastmarkets also will also change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-...Read More
China...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.Subs...Read More
Prices continue to range-trade, shrugging off...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest i...Read More
Aluminium The LME aluminium price produced a fresh April low on Monday this week, and traded at $1,866 per tonne. Sellers were in complete control and the lack of buying pressure means that, technically, more downside can be expected from aluminium prices in the short term. That said, both the daily RSI and stochastic lines have reached oversold territory and there is a chance that the retest...Read More
Higher premiums coming, but it has...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soo...Read More
Glass half empty for lead,...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it&...Read More