CIS steel billet producers have continued to offer material to foreign customers at rather high prices, with support from the global uptrend in the long steel markets, Fastmarkets heard on Tuesday November 3.In any case, the producers were in no hurry to sell-out volumes scheduled for shipment in January.For their part, customers in the majority of export destinations considered the current offers...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Brazilian iron ore exports fell 8.6% in October, when compared with the same month last year, since the month had fewer workdays in 2020, and despite those volumes representing a higher daily average, data from the country's economy ministry showed on Tuesday November 3.Brazil exported 31.19 million tonnes of iron ore last month, down from 34.14 million tonnes a year before, and down 17.6% from th...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Tin premiums in Europe increased in the week to Tuesday November 3, with the metal's sharp price decline in late-October prompting fresh buying momentum after a sustained contango in the metal's forward spread. This came despite a static tin market in the United States, where uncertainty over the Covid-19 pandemic remains a key barrier to trade, while premiums in China were steady despite a marked...Read More
Good order books at European hot-rolled coil producers combined with a lack of competitive import offers remained the key factors behind the recovery in domestic prices and the upbeat mood among domestic mills, sources told Fastmarkets on Wednesday November 4.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.11 ($590.47) per tonne on Wednesday,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Many Chinese steelmakers switched up their sinter feed ratios to consist of more low and high-grade iron ore amid rising prices for mid-grade products in the third quarter, sources said.This trend appeared short-lived when iron ore prices declined in the last couple of months but with coke becoming costlier in China, blends of low and high grades of iron ore appear to be making a comeback.Surging...Read More
Three-month base metals prices on the London Metal Exchange were collectively higher at the close of trading on Wednesday November 4, with upward price movements largely supported by a steady decline in the US dollar index, while broad uncertainty over the US presidential election did little to trim standout volumes over the day.Topping complex gains over the afternoon, LME zinc's outright price c...Read More
Iron ore prices in the futures and seaborne markets were relatively stable on Wednesday November 4, despite new restrictions on sintering and blast furnace stoppages, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.91 per tonne, down $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.00 per tonne, down $0.63 per tonne58% Fe fines high-grade...Read More
Zinc premiums in the United States and Taiwan rose over the week to Tuesday November 3 while in Northern Europe spot zinc premiums dropped amid a dampened outlook and new regional lockdowns, sources said.US, EU zinc premiums diverge with appetite for units stronger in the former and weaker in the latter regionTaiwanese zinc premiums hit multi-month high amid demand uptick while China zinc premiums...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Flat product prices in the US moved largely in line with our expectations in October, posting impressive gains across the product range, and slightly exceeding our forecasts for coil products.Domestic hot-rolled coil prices averaged $722 per tonne in October, exceeding our forecast of $705 per tonne forecast price.Although w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
Three-month base metals prices on the London Metal Exchange were collectively higher at the close of trading on Wednesday November 4, with upward price movements largely supported by a steady decline in the US dollar index, while broad uncertainty over the US presidential election did little to trim standout volumes over the day.Topping complex gains over the afternoon, LME zinc's outright price c...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 4. Please click...Read More
An abundance of used lead-acid batteries in the United States weighed on product prices again over the past two weeks; meanwhile, zinc scrap prices were soft relative to the London Metal Exchange zinc price, according to market sources.Fastmarkets' assessment of the lead scrap buying price, delivered smelters US fell to 65-67 cents per lb on Tuesday November 3, down by a penny from 66-68 cent...Read More
The tightness in China's domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1."We stored some volumes of standa...Read More
The recovery in Peruvian copper output off the 2020 lows, which were caused by action taken to combat Covid-19, lost steam in September, while domestic zinc production continued to climb year year on year, the country's ministry of energy and mines, Minem, said.Peru produced 171,789 tonnes of copper in September was down by 15.7% from 203,782 tonnes a year earlier, according to Minem data on Tuesd...Read More