Price movements for seaborne iron ore were largely rangebound on Wednesday November 17 except for the mid- and high-grade iron ore fines segments, which tracked the stronger transacted prices on a trading platform, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.08 per tonne, up $1.04 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.30 per tonne, up $0.30 per...Read More
Spot prices for hot-rolled coil in China inched lower on Wednesday November 17 after a small rally in the futures market failed to provide sufficient upward momentum to the spot market.DomesticEastern China (Shanghai): 4,680-4,740 yuan ($734-743) per tonne, down by 10-40 yuan per tonneThe most-traded HRC contract the Shanghai Futures Exchange rose on Wednesday, snapping three consecutive trading d...Read More
London Metal Exchange base metals prices mostly softened on the morning of Wednesday November 17 apart from those for aluminium and nickel, with the US Dollar Index rising to new heights. The US Dollar Index rose to 96.27 during early trading, its highest since July 2020. The three-month copper price was at $9,493.50 per tonne at 9am on Wednesday, down by 0.7% from its closing price of $9,561 per...Read More
China's domestic rebar market resumed its downtrend on Wednesday November 17 on lower procurement rates among buyers. Domestic Eastern China (Shanghai): 4,660-4,690 yuan ($729-734) per tonne, down by 40 yuan per tonneBuyers sought to buy at lower prices amid falling raw materials prices, which suggest a recovery in mills' profits.For instance, Fastmarkets' index for iron ore 62% Fe fines,...Read More
Silicon prices rose to a global record high in the July-September quarter of 2021 but Ferroglobe, the Western world's biggest silicon producer, lost money over the three-month period.A $90.8 million debt repayment offset the higher prices imposed for all of Ferroglobe's products, contributing to a $97.6 million loss in the third quarter, according to a company results statement released on Wednesd...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 17.Key drivers European ferro-titanium spot prices were unchanged for the fifth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco was settled in the current spot price range, according to sources. There were no reported spot trades over the week to Wednesday November 17. Ferro-titanium s...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 29.00-29.90 on Wednesday November 17, 2021....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs...Read More
Global steel prices were likely to soften further at the end of 2021 because of lower raw material prices and uncertain market sentiment, panelists said on Monday November 15 during Fastmarkets' International Ferro-alloys Conference in Prague.In the middle of 2021, global steel prices reached a level not seen since the global financial crisis in 2008, after which there was a long-lasting downtrend...Read More
Domestic stainless steel prices in China maintained their downward trend for the week ended Wednesday November 17 due to soft demand.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,800-19,000 ($2,942-2,974) per tonne, down by 500 yuan per tonne from a week earlier.Downstream industries performed poorly, leading to lower stainless steel demand.Market sentiment became bear...Read More
The European Commission (EC) has proposed a revamp of the EU waste shipment rules under which the export of its metal scrap to nations not belonging to the Organisation for Economic Co-operation and Development (OECD) group would face significant restrictions, it said on Wednesday November 17.Wednesday's proposed shake-up will need to pass through the EU's lawmaking process, including both the Eur...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.U.S. equity index futures were quiet prior to release of the November Philly Fed Index at 8:30 AM EST. Consensus is a decline to 22.0 from 23.8 in October.Nvidia advanced $14.69 to $307.30 after the company reported higher than consensus quarterly sales and earnings. Cisco dropped $2.81 t...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
General Motors (GM) plans to extend its control of the midstream processing chain in the next 18 months while it gets battery plants in the United States up and running, a senior company executive at the automotive manufacturer said.This is also part of a push by the automaker to create a greener supply chain via reduced movement of materials around the world, GM manager of energy environment and...Read More
MineHub Technologies Inc has launched an application to digitalize and streamline the assay exchange process between buyer, seller and laboratories in base metal concentrates transactions, the blockchain technology platform said.The application, known as MineHub Assay Exchange, is the first in a series of network applications for concentrates that the company intends to roll out over the next mont...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 16 that are worth another look.The Chinese government is in discussions with multiple metal industry bodies on suspending the publication of data related to the country's progress in achieving its ambitions for "carbon peaking and carbon neutrality," sources have told Fastmarkets.The lower...Read More
Key data from Fastmarkets' ferro-silicon pricing sessions in China, Europe and the United States on the week ended Tuesday November 16.China Ferro-chrome producers in Inner Mongolia and Guangxi are running at high production rates, which could pressure alloy prices and increase chrome ore consumption.Spot ferro-chrome dropped again after suppliers lowered offers to destock. The improved productio...Read More
MineHub Technologies Inc has launched an application to digitalize and streamline the assay exchange process between buyer, seller and laboratories in base metal concentrates transactions, the blockchain technology platform said.The application, known as MineHub Assay Exchange, is the first in a series of network applications for concentrates that the company intends to roll out over the next mont...Read More
Although ferro-alloy prices have sharply climbed, steelmakers are unlikely to reduce their consumption of these raw materials given the small share of steel production costs it accounts for and the likelihood that prices will move down in the near-term, panelists said on Monday November 16 during Fastmarkets' International Ferro-alloys Conference.During the session titled "Steel Mill Panel Discuss...Read More