Nickel premiums in all global regions were static in the week to Tuesday October 27 due to a high London nickel price and low arbitrage opportunities. China sees minimal trade with importing incentive still low. European trade inhibited by higher London Metal Exchange prices and lower contango. Spot trade subsides in the United States after a burst last week. Wider arb loss limits Chi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 28.Please click...Read More
A summary of the third-quarter results for 2020 from Eramet published on Wednesday October 28. Eramet sales fell in the third quarter of 2020 due to a sharp decline in raw materials sales prices, with manganese ore prices falling by 26% and ferro-nickel prices down 17%.Nickel ore prices, meanwhile, were up 35%.Manganese alloy production and sales fell by 1.6% to...Read More
US President Donald Trump has signed a proclamation ending the 10% duties on Canadian aluminium entering the country, under the condition imports do not surge in the coming months. The proclamation on Tuesday October 27 follows an announcement from the US Trade Representative (USTR) on September 15 ending Section 232 tariffs on Canada which had just been reimposed in August. Similarly to that...Read More
Brazilian flat and long steel producer Gerdau is optimistic about the country's steel demand in 2021, chief executive officer Gustavo Werneck said on Wednesday October 28."We are foreseeing a growth of steel demand somewhere between 6-8% [in 2021] compared with 2020," Werneck said. Brazilian apparent steel consumption is expected to fall by 4.7% this year, to 20 million tonnes from 20.98 million t...Read More
The steel industry must innovate further and look to other sectors for solutions, Tata Steel chief executive TV Narendran said during Fastmarkets' Steel Success Strategies 2020 virtual conference on Wednesday October 28.Traditionally, the industry has been more focused on continuous improvement than on innovation, Narendran said, having pushed for efficiency improvements and incremental performanc...Read More
Domestic prices for heavy steel plate went down in Europe in the week to Wednesday October 28 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-465 ($532-549) per tonne on October 28, down by ?,?5-10 per tonne from ?,?460-470 per tonne.The assessment reflected offers and achievable prices heard i...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased both day on day and week on week, supported by good order books among the region's steelmakers and a lack of overseas alternatives, market sources told Fastmarkets on Wednesday October 28.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.00 ($596.70) per tonne on Wednesday, up...Read More
The price of mesh-quality steel wire rod has been broadly stable in Southern Europe over the past week, despite reduced buying activity caused by growing uncertainty over further Covid-19 lockdowns in the region. Short supplies and good producer order books were supporting prices, sources told Fastmarkets on Wednesday October 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-qu...Read More
Prices in the stainless steel scrap market in the United States were little-changed this week due to dealers and processors moving cautiously in the market."It seems like both the mills and the processors have decided to drop anchor at these levels for awhile," one dealer said. "I doubt there will be any significant changes as we head toward the end of the year, given the tremendous amount of...Read More
A Turkish steel mill booked a mixed Baltic Sea scrap cargo at higher prices late on Tuesday October 27, confirming this week's upward price trend, sources told Fastmarkets on Wednesday.The Baltic Sea cargo, booked late on Tuesday evening, comprised 9,000 tonnes of HMS 1&2 (80:20) at $292.50 per tonne, 8,000 tonnes of shredded at $297.50 per tonne and 4,000 tonnes of bonus at $302.50 per tonne...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.87 per tonne, up $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.10 per tonne, up $1.09 per tonne58% Fe fines high-grade premium, cfr Qing...Read More
The seaborne premium hard coking coal price on the fob market remained relatively stable on Wednesday October 28, while steel mills in China turned to countries such as Canada to source premium hard coking coal, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.35 per tonne, down $0.43 per tonne Premium hard coking coal, cfr Jingtang: $119.83 per tonne, unchangedHard coking...Read More
A summary of Swedish state-owned iron-ore producer LKAB's financial results for the third quarter of 2020 ended September 30. In brief LKAB's iron ore deliveries surge by almost 40% year on year. Despite record quarterly iron ore deliveries, LKAB recorded slightly weaker operating results for the third-quarter period due to lower prices for highly upgraded iron ore products and increase...Read More
Spodumene producer Pilbara Minerals has entered a conditional deal to acquire Altura Mining's lithium project in Western Australia, it said on Wednesday October 28.Pilbara's conditional agreement with Altura's senior secured loan noteholders provides a path for a potential purchase of the project through the acquisition of shares in Altura Lithium Mining Operations Pty Ltd (ALO) for about US$175 m...Read More
The London Metal Exchange three-month nickel price made significant gains in the morning session on Wednesday October 28, rising 2.5% from the previous day's close to hit an intraday high of $16,310 per tonne - a fresh year-to-date high. LME nickel futures bucked the complex's current sideways trading trend, in which most metals continue to wax and wane in line with the US equities markets, on Wed...Read More
Key data from the Wednesday October 28 pricing session in Shanghai. Tight supply of aluminium scrap - the raw material for aluminium alloy ADC12 ingot - did not ease much although China's newly released customs code for imported aluminum scrap does allow more scrap into China after November theoretically. The aluminium scrap price in the domestic market firmly supports the production cost of alumi...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the main part firmer this morning, Wednesday October 28, this despite early weakness in major western equity index futures that were suffering because parts of Europe look set to escalate lockdown measures. France is reportedly contemplating a one-month nationwide lockdownNickel prices surge as a nickel min...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford...Read More