Discussions about a proposed chrome ore export tax in South Africa have dominated the global chrome market since it was put forward by the country's cabinet on Thursday October 22.One of the more hotly debated aspects of the proposed tax is whether or not it can achieve its stated purpose, which is to support domestic ferro-chrome production by fundamentally enhancing South African producers' comp...Read More
The three-month aluminium price on the London Metal Exchange was subject to strong afternoon buying before the close of trading on Monday November 2.The upward momentum was broadly incongruous with a strong US dollar index ahead of the country's presidential election this week, while zinc followed higher in a mixed close for LME base metals.Aluminium's outright price closed at $1,866 per tonne on...Read More
Seaborne iron ore prices were up slightly on Monday November 2 amid strong demand for steel products, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $118.06 per tonne, up $0.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.65 per tonne, up $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $109.74 per tonne, up $0.27 per tonne65% Fe Brazil-origin...Read More
The three-month lead price on the London Metal Exchange was the laggard during morning trading on Monday November 2, largely due to continued strength in the dollar index, while uncertainty over the result of the upcoming US presidential election caused metals prices to consolidate against moderate turnover.The LME lead price was recently trading at $1,789 per tonne, down by 1.2% from Friday's clo...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
Turkey produced 25.93 million tonnes of crude steel in January-September 2020, a 2.59% year-on-year increase from 25.28 million tonnes in the same period of 2019, the Turkish Steel Producers' Association (T???oeD) said on Monday November 2.This production figure placed Turkey as the seventh biggest steel producer in the world this year, exceeding Germany, which held the position in 2019.Turkey pro...Read More
The premium for direct-reduced (DR) iron ore pellet for the fourth quarter of 2020 was $24 per tonne, as was agreed in early September, with solid demand reported in the Middle East-North Africa (Mena) region.Fastmarkets' iron ore DR-grade pellet premium to 65% Fe fines index, Middle East reference, was $24 per tonne on Friday October 30, unchanged month on month.Fastmarkets' index for iron ore, 6...Read More
Zach Spencer has joined warehousing and logistics firm Pacorini Global Services (PGS) as business development manager, the company told Fastmarkets. Spencer was at Henry Bath & Son Ltd for over five years, most recently as commercial director in Baltimore, Maryland. He will report to Mario Casciano, chief executive officer of North America, and will be based in...Read More
The three-month lead price on the London Metal Exchange was the laggard during morning trading on Monday November 2, largely due to continued strength in the dollar index, while uncertainty over the result of the upcoming US presidential election caused metals prices to consolidate against moderate turnover.The LME lead price was recently trading at $1,789 per tonne, down by 1.2% from Friday's clo...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Monday November 2, with the short-term outlook uncertain with much of Europe moving into tighter lockdowns, while China's new five-year plans look supportive, as does the economic data out of China and Japan this morning. Japan and China report stronger manufacturing purchasing managers inde...Read More
Hot-rolled coil prices in the United States rose slightly ahead of the US presidential election on Tuesday November 3.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.21 per hundredweight ($684.20 per ton) on Monday November 2, up 0.2% from $34.13 per cwt on Friday October 30 and 0.3% higher than $34.10 per cwt a week ago on Monday October 26.Heard in the marketDes...Read More
Prices for carbon steel plate in the United States jumped after enough buyers accepted the latest round of price increases from domestic mills. Fastmarkets' weekly price assessment for steel cut-to-length plate, fob mill US climbed to $31 per hundredweight ($620 per short ton) on Friday October 30, up by 5.1% from $29.50 per cwt ($590 per short ton) on October 23.Although six rounds of attempted m...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States remained flat in the face of steadily rising demand from the construction industry in the West and the South as well as service centers rebuilding their inventories.Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US held steady at $35.30 per hundredweight ($706...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged on Monday November 2, although mills are continuing to target price rises, market sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?505.00 ($587.97) per tonne on Monday November 2, unchanged from Friday.The index was up by ?,?7.08 per tonne week on wee...Read More
CIS exporters of steel rebar and wire rod have turned bullish following the recent uptick in long steel prices globally, and have increased their offer prices to foreign customers, Fastmarkets heard on Monday November 2.Russia-origin rebar was available at $460-463 per tonne fob late last week, sources told Fastmarkets.Ukraine-origin material was offered to customers in various destinations, such...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were mostly stable over the past seven days to Monday November 2 despite producers pushing for higher prices for November deliveries, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia remained at 40,000-41,000 roubles ($503-516) per tonne...Read More
Domestic auto bundle scrap prices in Turkey have increased over the past week in line with the weakening lira, sources said on Monday November 2.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 2,210-2,380 lira ($266-287) per tonne on Monday, up from 2,040-2,320 lira per tonne last week.The increase follows a further depreciation in the countr...Read More
Seaborne iron ore prices were up slightly on Monday November 2 amid strong demand for steel products, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $118.06 per tonne, up $0.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.65 per tonne, up $0.99 per tonne58% Fe fines high-grade premium, cfr Qingdao: $109.74 per tonne, up $0.27 per tonne65% Fe Brazil-origin...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets were relatively stable on Monday November 2.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.95 per tonne, up $0.01 per tonne Premium hard coking coal, cfr Jingtang: $134.94 per tonne, down $0.86 per tonneHard coking coal, fob DBCT: $95.53 per tonne, up $0.01 per tonne Hard coking coal, cfr Jingtang: $107.52 per to...Read More
A tighter supply of rebar in the Singapore import spot market has led market prices to increase significantly in the past week, industry sources in the island state told Fastmarkets. "Turkey is extremely short of material for export after they concluded deals for large quantities to south America in recent weeks so any Singaporean buyer will be hard pressed to get good prices for rebar now," a buy...Read More