The Egyptian government has eased the ban on its domestic construction industry, it said on Tuesday September 29.Contractors and real estate developers are now permitted to resume construction on buildings up to four-stories high, Fastmarkets understands.The Egyptian government initially imposed a building ban on May 25.As per the final announcement, the exemptions to the construction ban apply on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 30 that are worth another look.Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources...Read More
Zinc concentrate treatment charges (TCs) have fallen sharply in September 2020, reversing a three-month upward trend because of supply tightness from South America, amid continuing disruptions resulting from the Covid-19 pandemic, putting pressure on traders and smelters to cover short positions.Fastmarkets' most recent assessment of the zinc spot concentrate TC, cif China, was $100-120 per tonne...Read More
Hollow steel sections prices in Europe moved up this week, with mills pushing hard to achieve higher prices, market sources told Fastmarkets on Wednesday September 30.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?580-590 ($679-690) per tonne on Wednesday, up from ?,?570-585 per tonne one week previous.The price of HRC, the feedstock...Read More
The three-month copper price on the London Metal Exchange was the standout performer at the close of trading on Wednesday September 30, after a significant uptick in consumer confidence in the United States. The surge in US positivity through September prompted a steady increase in buying activity, while continued inflows of material put pressure on the LME lead price across the aft...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 30 that are worth another look.Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources...Read More
The three-month copper price on the London Metal Exchange was the standout performer at the close of trading on Wednesday September 30, after a significant uptick in consumer confidence in the United States. The surge in US positivity through September prompted a steady increase in buying activity, while continued inflows of material put pressure on the LME lead price across the aft...Read More
Seaborne coking coal prices across the board were relatively stable on Wednesday September 30 while the Golden Week holiday (October 1-8) in China approaches, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.55 per tonne, up $0.07 per tonne Premium hard coking coal, cfr Jingtang: $145.10 per tonne, up $0.13 per tonneHard coking coal, fob DBCT: $112.26 per tonne, unchangedHa...Read More
London Metal Exchange three-month base metals prices, with the exception of copper and tin, were trading down on the previous day's close on Wednesday September 30, with encouraging Chinese manufacturing data eclipsed by a stronger dollar and continued uncertainty regarding US economic fiscal stimulus. Chinese Caixin Manufacturing purchase managers' index (PMI) data remained in expansionary territ...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view, including an upgrade to our aluminium price forecasts.Aluminium: Price forecasts raisedWe correctly expected the macro reflationary theme to raise the prices for all base metals but, with it being the base metal with by far the weakest fundamentals, we had expected the price of aluminium to underperform relative...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While steel markets in Asia have demonstrated the most strength with regards to pricing through much of 2020, recent weeks have seen prices in Europe and the United States outperform those elsewhere.In a way, much of this is simply catching up on the gains already made by Asian steelmakers. They were able to obtain higher pri...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US flat-rolled prices began to recover in August, as we expected. The monthly average of our daily HRC index hit $473 per ton ($521/tonne), which was $3/t above our forecast.The upward momentum has since continued and has done so more quickly than we expected - sentiment has turned around dramatically on fundamental developm...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for hot-rolled coil have performed in line with our expectations over the past month, with US domestic HRC prices finding a floor in July in line with the forecast, before improving in August. US HRC prices averaged $473 per short ton in August, compared with our forecast price of $470 per ton.Our prediction that an i...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US hot-rolled coil (HRC) prices performed in line with our expectations in August, with US domestic HRC prices finding a floor in July as forecast before they rose in August. US HRC prices averaged $522 per tonne in August, which compares with our forecast price of $518 per tonne. Based on an improving demand outlook and ris...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Prices across most ferro-alloy markets trended stable to lower in August as demand remained subdued in major markets, apart from China where steel output continues to rise at a rapid pace, supporting demand for ferro-alloys. As alloy makers seek to remedy supply/demand imbalan...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.We do not consider the average iron ore fines price for September so far above $125 per tonne cfr Qingdao to be sustainable. The bullishness is not likely to last in the long term as we expect Chinese demand growth to slow down. A key factor boosting Chinese steel demand so far has been the stimulus policies from the authori...Read More
The takeaways from the latest edition of the Steel Raw Materials Market Tracker are ready to view.Iron ore prices remained relatively stable last week, signalling an end to the price spike. And for the first time since March, at the time of the Covid-19 lock-down in Hubei, we have seen a consistent downturn in utilization rates in China. Blast furnace utilization rates dropped for a fifth consecut...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the year 2020 to date in late August, the Fastmarkets 62% Fe iron ore benchmark has powered along and reached six-year highs, supported by Chinese demand, and despite the global economic uncertainty created by the Covid-19 pandemic. Iron ore demand has weakened almost everywhere except in China, where it has continued to...Read More