The latest forecasts from Fastmarkets' team of analysts are ready to view. A look at stainless steel price movements through August reveals the ongoing battle being faced by stainless steelmakers in Europe and the United States while they try to pass on rising costs to consumers. In these regions, prices on most grades of stainless steel are little changed from July, rising by around 2% at most -...Read More
Post-pandemic market dynamics for base metals will be defined by global economies' ability to recover from the fallout of Covid-19, panelists said during LME Week's China session on Thursday October 22. Panel consensus deemed China's economic growth responsible for the current recovery in the metals market, with London Metal Exchange China head Yang Liu alluding to the region's "very beautiful v-s...Read More
Global steel scrap prices have risen over the week to Friday October 23, following Turkey's re-entry into the market and a sharp rise in the prices of Japan-origin material.Turkish mills rejoin scrap market for higher-priced cargoesSentiment positive in US East Coast market despite no fresh dealsVietnamese mills' appetite grows for US material following spike in Japanese pricesTaiwanese scrap impo...Read More
The benchmark A380.1 secondary aluminium alloy price has jumped to its highest point in nearly 21 months, boosted by high scrap prices and freight costs, among other factors, sources told Fastmarkets.Fastmarkets assessed the price for aluminium alloy A380.1, delivered Midwest at 84-86 cents per lb on Thursday October 22. The price narrowed upward from 81-84 cents per lb the previous week...Read More
Aluminium billet premiums rose on Friday October 23 in the United States, Spain, Germany and Thailand, while demand in those countries continued to recover from Covid-19-related disruptions earlier in the year against a backdrop of tightening supply.US premium at one-year highSpanish premiums highest since November 2019Thailand premium rises, Japan steadyBrazil stable at highest since September 20...Read More
Brazil has increased the quota for duty-free imports of unalloyed aluminium into the country this year to 180,000 tonnes from 150,000 tonnes, according to a resolution dated Thursday October 22.The decision was taken by the executive management committee (Gecex) of the country's Chamber of Foreign Trade (Camex).The quota covers unalloyed aluminium in the shape of T-bars, sows and ingots, and will...Read More
Fastmarkets' copper concentrate treatment and refining charge (TC/RC) index inched up 1.1% in the week ending Friday October 23, with market participants anticipating an influx of tendered material leading to a more well supplied spot market. Fastmarkets' copper concentrates TC index, cif Asia Pacific moved to $45.10 per tonne on Friday, up by 50 cents on the week prior. Concentrates from Jab...Read More
An overview of the new energy raw materials markets and their latest price moves.Read More
The premium paid for domestic steel products in Russia over exports - and for flat steel in particular - is unlikely to rebound until 2021, major Russian steelmakers NLMK and MMK said this week."The discount [or reduction to the domestic market premium over the export market] was driven by both strong export benchmarks and a weak rouble," Novolipetsk Steel (NLMK) chief executive officer Grigory Fe...Read More
Flat steel prices in Turkey remained stable in the week to Friday October 23, with demand strong and several deals heard in both the domestic and export markets, sources told Fastmarkets.Flat steel prices in the Turkish market remained stable during the week to Friday October 23, while demand was strong with several deals heard in domestic and export markets, sources told Fastmarkets.Demand was st...Read More
Domestic Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil (pre-painted galvanized iron or PPGI) jumped in the week to Friday October 23 on strong demand and a shortage of hot-rolled coil, the base product for coated coil.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey was $510-520 per tonne on Friday, unchanged week-on-week .Domestic pricesFastmark...Read More
Major European flat steel producers Tata Steel and SSAB both declined to comment on speculation that they have begun merger talks, when the companies spoke to Fastmarkets on Friday October 23.Several reports have appeared in the global press this week indicating that Tata Steel and SSAB were discussing the possibility of merging their European steelmaking operations.But neither company would comme...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Friday October 23, but buyers expected mills to push their offer prices upward soon, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?496.67 ($587.67) per tonne on Friday, down by just ?,?0.83 per tonne day on day from ?,?497.50 per tonn...Read More
Poland's rebar producers had to cut their domestic prices this week to spur slow buying activity, with market participants expecting a price rollover in the coming weeks, sources told Fastmarkets on Friday October 23.Buying appetite among Polish rebar buyers was moderate during the assessment week, sources said."Demand started to slow in mid-October after the end of a restocking campaign. Some dis...Read More
The price of austenitic alloy steel scrap in the UK and Europe increased sharply over the past week because of rising nickel prices and improving demand from stainless steel mills, sources told Fastmarkets on Friday October 23. Fastmarkets' weekly price assessment of stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?950-980 ($1,245-1,284) per tonne on Friday, up by ?70...Read More
Buying activity in the United States pig iron import market resumed during the week to Friday October 23 because the largest buyer of the material needed to restock, according to sources.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $369-373 per tonne on Friday, softening slightly from $370-375 per tonne a week earlier. Three spot deals were heard in the market dur...Read More
The price of shredded scrap imported into India moved up on Friday October 23 on a rise in the international market and tight material availability, sources told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $316.16 per tonne on Friday, up from $308.62 per tonne a week ago.Deals heard this week ranged from $315 to $316 per tonne, compared wi...Read More
Turkish steel mills look set to book further deep-sea scrap cargoes following a recent rise in rebar sales, sources told Fastmarkets on Friday October 23.Although there were no confirmed bookings for deep-sea cargo purchases on Friday, there was enough talk in the market to suggest possible further cargoes, following recent rebar sales and Turkish mills confirming their or...Read More
The export market for pig iron from the south of Brazil was strong during the week to Friday October 23, with one new sale being the first agreed for January shipment.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $355 per tonne on Friday, narrowing upward from $352-355 per tonne a week before.A sale of 55,000 tonnes of pig iron for January shipment was agr...Read More
Seaborne premium hard coking coal prices edged down on Friday October 23, with market participants from China unable to purchase Australian coking coal while sources from India were in wait-and-see mode.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.25 per tonne, down $0.49 per tonne Premium hard coking coal, cfr Jingtang: $126.05 per tonne, down $0.73 per tonneHard coking coal, fob D...Read More