Chinese buyers say they are no longer looking to import aluminium, with the fading arbitrage potential ending what was an unusual and profitable trade. The arbitrage for bringing aluminium into China reopened for the first time since 2016 on May 6, with a marginal profit of $4.22 per tonne, according to Fastmarkets' calculations. It widened to $61.82 per tonne on May 20 before slipping to a loss f...Read More

The London Metal Exchange three-month nickel price was the standout performer during morning trading on Tuesday June 2, climbing by 1.4% and continuing the buying momentum that emerged on Monday, while declining LME tin stocks support the price. The nickel price was recently at $12,770 per tonne, up 1,4% against Monday's closing price of $12,626 per tonne. Trading volumes have been moderate so far...Read More

US hot-rolled coil prices continue to bob around $25 per hundredweight ($500 per ton) with price increases keeping them from falling too far, while uneven demand and mixed June scrap trends limit the upside.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $25.10 per hundredweight ($502 per ton) on Tuesday June 2, up 0.5% from $24.98 per cwt on Monday and up 1.5% from $...Read More

CIS export billet prices increased on Tuesday June 2, with China resuming bookings and accepting higher prices, sources told Fastmarkets.The increased cost of iron ore, an upswing in China's domestic rebar market and production cuts planned in Tangshan province supported interest in imported billet.Fastmarkets' daily index for iron ore 62% Fe fines, cfr Qingdao was $101.32 per tonne on June 2, up...Read More

With competition in the global steel markets remaining fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in May 2020.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March and April this year.1. Egypt: finished steel2....Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week, but buyers preferred to wait to see whether price increases would be permanent, sources told Fastmarkets on Tuesday June 2.The reason for rising prices was the strong domestic demand in China.No deals were heard during the past week and steel demand was still soft after the Islamic holy month of Ramadan that...Read More

The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers. The preliminary inquiry covers imports of hot-rolled carbon steel plate and high-strength low-alloy steel plate from Germany, Malaysia, South Korea, Taiwan and Turkey, the CITT said in a public notic...Read More

The prices for steel billet and rebar in the United Arab Emirates have increased over the past week, with demand improving after the Eid Al-Fitr holiday, as well as the easing of restrictions under the Covid-19 pandemic, market sources said on Tuesday June 2.Market participants in the UAE were expecting demand to improve in late May, when the Islamic holy month of Ramadan ended with the Eid al-Fit...Read More

Artemis all set thanks to unique approachSPONSOREDartemis resourcesThe company said early in April state rules to prevent transmission of the virus had made business impractical, paralysing the company's supply chain and the free movement of staff, and causing "significant operational delays and work constraints".However, it has managed to extend Pumpkin Hollow's main shaft to its final depth...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Ferrous scrap consumption rates of Chinese integrated mills appear to have declined this year on a per-tonne basis. This year has seen the ratio of pig iron to steel output tighten, leaving increasingly less room for scrap consumption. Over the first four months of 2020, the pig iron-to-steel ratio has been above the pr...Read More

Turkish steel producers continued their deep-sea scrap purchases for July shipments at firm prices on Tuesday June 2, sources told Fastmarkets.A steel producer in the Iskenderun region booked a US cargo, comprising 21,000 tonnes of HMS 1&2 (90:10) at $259 per tonne, 4,000 tonnes of shredded at $261 per tonne and 5,000 tonnes of plate & structural scrap (P&S) at $266 per tonne cfr on June 2. T...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

The seaborne iron ore market found an average price for 62% Fe fines that breached $90-per-tonne during May, while improving steel prices, supply uncertainty from Brazil and declining iron ore inventory at Chinese ports were major drivers behind the strong iron ore markets, Fastmarkets understands.The monthly average price for 62% Fe iron ore rose 10.35% month on month to $93.16 per tonne in May,...Read More

Seaborne premium hard coking coal cfr China price rose on Tuesday June 2 after a transaction was signed at $120 per tonne, while prices for other segments remained relatively flat. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.97 per tonne, down $0.05 per tonne Premium hard coking coal, cfr Jingtang: $116.88 per tonne, up $0.95 per tonne Hard coking coal, fob DBCT: $89.57 per tonne,...Read More

Seaborne iron ore prices in the mid-grade section of the market edged up on Tuesday June 2 amid active physical spot-market trading.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $101.32 per tonne, up by $0.87 per tonne.62% Fe low-alumina fines, cfr Qingdao: $104.13 per tonne, up by $0.24 per tonne.58% Fe fines high-grade premium, cfr Qingdao: $91.59 per tonne, down by $0.34 per tonne.65%...Read More

Brazil's iron ore exports in May fell by over a quarter compared with the same period a year earlier.It exported 21.50 million tonnes of the steelmaking raw material last month, which is 28.2% lower than the 29.87 million tonnes it shipped out in May last year, according to figures released by the country's economy ministry on Monday June 1.Iron ore prices have been on the rise amid concerns about...Read More

China's hot-rolled coil producers have raised their offers above $440 per tonne fob after domestic prices strengthened further on Tuesday June 2.DomesticEastern China (Shanghai): 3,650-3,680 yuan ($512-516) per tonne, widening upward by 20 yuan per tonneNorthern China (Tangshan): 3,630 yuan per tonne, unchangedA Shanghai-based trader said sellers in the city issued offers of 3,650-3,660 yuan per t...Read More

China's domestic rebar prices continued to trend upward on Tuesday June 2 amid stronger demand stimulated by rising futures.Domestic Eastern China (Shanghai): 3,590-3,620 yuan ($503-508) per tonne, up by 20 yuan per tonneBuyers raised their procurement rates amid a strengthening futures market, which pushed up spot prices.But some markets participants have expressed concerns over the possibility o...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at $14.75-15.15 on...Read More

The cobalt alloy 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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt alloy grade,...Read More