Global nickel premiums were broadly unchanged in the week to Tuesday November 3, with a closed import arbitrage window and muted spot interest prompting no movement in premiums, sources told Fastmarkets. Absence of import opportunities leaves nickel premium static in ChinaNo spot trade reported in United States' market European market laments London Metal Exchange price spikeChina nickel business...Read More
Prices for hollow steel sections in Europe remained static this week but mills are looking to push prices higher in the coming weeks on solid order books, sources told Fastmarkets on Wednesday November 4.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?630-650 ($736-760) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil...Read More
The price of steel H-beams in Europe was unchanged this week as a result of negative sentiment related to the resurgence of the Covid-19 pandemic, sources told Fastmarkets on Wednesday November 4.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-570 ($631-666) per tonne on Wednesday, unchanged week on week.Prices have been unchanged for the past...Read More
Steel mesh-quality wire rod prices in the north of Europe remained largely unchanged in the week to Wednesday November 4, with sentiment still optimistic despite concerns over the second wave of Covid-19 infections, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged at ?,?485-495 ($567-579) per ton...Read More
Turkey exported 415,694 tonnes of flat steel products in September 2020, an increase of 5.6% from the 393,716 tonnes exported in September 2019, according to the Turkish Statistical Institute (TUIK).Most of the orders shipped in September were booked in July, when demand for flat steel was strong in Asia and North Africa, sources told Fastmarkets.Turkey's future exports of flat steel to Europe are...Read More
Turkey imported 621,912 tonnes of flat steel in September 2020, up by 3.2% from 602,707 tonnes in the corresponding period of 2019, the Turkish Statistical Institute (TUIK) said on Tuesday November 3.Demand for flat steel was strong in July, when orders for September deliveries were placed.The Turkish market for flat steel is currently experiencing moderate demand with most prices remaining stable...Read More
Limited availability of steel wire rod and low stocks at buyers pushed the price of the commodity upward in the south of Europe in the week to Wednesday November 4, sources have told Fastmarkets.The key factor supporting the rise in wire rod prices was tight supply in the market, they said.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe,...Read More
Stainless steel scrap prices in the United States faltered slightly amid a lack of demand and an erratic nickel market, as well as uncertainty about the Covid-19 pandemic and the outcome of the US federal elections."I think everyone is just waiting out this election. Not very much demand and even less supply [of material] coming in right now," one dealer said.Most sources indicated that there was...Read More
Turkish steel producers have resumed their deep-sea scrap purchases at firm prices after a week-long break, market sources said on Wednesday November 4.A steel mill in the Iskenderun region of the country booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $296.50 per tonne, 10,000 tonnes of shredded at $301.50 per tonne and 2,000 tonnes of bonus at $306.50 per tonne cfr.Another steel...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
Seaborne coking coal prices were mixed between the fob Australia and cfr China markets on Wednesday November 4, with the market largely muted awaiting the result of the presidential election in the United States.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.80 per tonne, down $0.96 per tonne Premium hard coking coal, cfr Jingtang: $137.02 per tonne, up $2.08 per tonneHard c...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
China's semi-finished steel and pig iron imports surged year on year in September, with quantities growing by up to eight times as much as the same period a year earlier.These were attributed to steady demand from steelmakers and high domestic prices in China.Vietnam was the biggest supplier of billet to...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
China's hot-rolled coil market experienced active trading on Wednesday November 4 amid price gains.DomesticEastern China (Shanghai): 3,980-4,020 yuan ($595-601) per tonne, widening upward by 30 yuan per tonneA source at a mill in eastern China said that demand had been rebounding recently amid continual price gains, with downstream buyers rushing to restock on fears of more increases.He said that...Read More
Prices for base metals dropped in morning trading on Wednesday November 4, after Donald Trump said he plans to contest the result of the incomplete and already uncertain presidential election in the United States.Aluminium, nickel and copper had all dropped by 1% or more as of 8:20 UK time with votes still being counted in a US presidential race that looks set to go down to the wire and in which a...Read More
Aluminium premiums in Southern Europe, the United States and Japan rose on Tuesday November 3, while demand outpaced squeezed supply in those regions, overriding the backwardation in London Metal Exchange spreads.Duty-unpaid Rotterdam premium down; Spain, Italy upUS Midwest premium up as Canadian flows slowStronger demand boosts MJP premiumSlower activity pressures Brazilian premiums downSouth Eur...Read More
An overview of the consumers electronics markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 4.Key driversThe ferro-titanium spot price in Europe increased over the week amid steady business in a market rally that started on August 19 against persistent demand and tightening feedstock supplies. The top of the current price range is at a level last seen on June 10.Around 85 tonnes of deals were reportedly sold in Eu...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford,...Read More