The London Metal Exchange base metals prices remained under pressure on Wednesday September 23, with the benchmark prices for all metals retreating during the day's trading.Fastmarkets analyst Boris Mikanikrezai noted that the US dollar pushed higher for a fourth consecutive day, "producing deflationary pressure on commodity prices."The general dollar index was last seen at 94.22, up by 0.24."Copp...Read More
Seaborne coking coal prices across the board continued their uptrend on Wednesday September 23, with the premium hard coking coal fob price taking the lead. Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.77 per tonne, up $4.76 per tonne Premium hard coking coal, cfr Jingtang: $141.69 per tonne, up $2.85 per tonneHard coking coal, fob DBCT: $110.18 per tonne, up $1.83 per tonneHard cok...Read More
The London Metal Exchange's new package of sustainability proposals should aid the discovery process of low-carbon aluminium pricing, chief executive officer Matthew Chamberlain said.Speaking at the Fastmarkets International Aluminium Conference on Wednesday September 23, Chamberlain said the exchange wants to provide the market with the tools to source sustainable material and provide transparenc...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
A reduced regional surplus supported the tin trade in the United States while European traders, eyeing a rising contango, held back from the market in the two weeks to Tuesday September 22.Both tin premiums rise in the US, their first move in three months.The London Metal Exchange tin price remains near a two-year high, but is not matched by physical demand in Europe.China sees little trade, given...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Continued production from inefficient smelters along with market forces are key reasons behind alleged overcapacity in the aluminium market, not excess output by companies in China and the Gulf Co-operation Council (GCC) region, according to key industry executives. Speaking during the executive panel at the Fastmarkets International Aluminium conference on Tuesday September 22, the international...Read More
Glencore International has won a public tender to supply South Korea's Public Procurement Service (PPS) with 500 tonnes of London Metal Exchange-registered brands of aluminium ingot. The tender was awarded at a premium of $102 per tonne, cif basis Busan port, according to a notice published by the state agency on Tuesday September 22. The premium is paid on top of the LME's official cash price for...Read More
Creating transparency and credibility in the green aluminium sector will be a key factor in expanding the market for sustainably produced metal, major aluminium producers said on a panel at Fastmarkets' International Aluminium Conference on Wednesday September 23.Sustainability directors from Rio Tinto, Norsk Hydro, UC Rusal and Alcoa participated on the panel, emphasizing that there was growing d...Read More
Increased logistical costs have raised the physical premiums for lead in the United States over the past week, while an arbitrage window was opening to profitably import zinc into China.US lead premiums rise on freight cost increaseChina sees zinc imports as arbitrage opensEuropean zinc demand remains sluggish.US lead premiums rise on freight increase, zinc terms unchangedThe premiums for lead ing...Read More
Chinese nickel ore prices continued to rise in the week to Tuesday September 22, with other premiums in the region remaining stable and nickel briquette premium in the United States widening. Nickel ore price reaches new high, while premiums and other nickel products in China stay flat.US briquette premium widens slightlyPositive demand rhetoric fails to spur European premiums Nickel or...Read More
Latin American apparent steel consumption is expected to fall by 14.5% in 2020, compared with the previous year, according to the most recent forecast from regional steel association Alacero.Steel consumption is expected to reach 55.68 million tonnes this year, compared with 65.1 million tonnes in 2019, the association said on Tuesday September 22.The forecast is an improvement from an earlier Ala...Read More
A blast furnace at Usiminas' Ipatinga unit in Brazil's southeastern Minas Gerais state caught on fire during maintenance work on Tuesday, only a month after being restarted, but there were no expectations of any effect on deliveries, the steelmaker said on Wednesday September 23.There were complications during routine maintenance at the No1 blast furnace, which resumed operations on August 26 foll...Read More
Domestic spot prices for hot-dipped galvanized coil (HDG) in Europe increased in the week to Wednesday September 22, on reduced availability, sources told Fastmarkets.European producers have been redirecting volumes from the spot market to long-term agreements with automotive industry, they added. "Demand from automotive producers is strong and the prices on long-term agreements with the industry...Read More
Hollow steel sections prices in Europe were unchanged this week, despite producers still pushing for higher prices, market sources told Fastmarkets on Wednesday September 23.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?570-585 ($669-686) per tonne on Wednesday, unchanged week on week."New prices from some mills are up by ?,?30 per tonne, an...Read More
The Canada Border Services Agency (CBSA) has begun an investigation into alleged injurious dumping of steel rebar from Algeria, Egypt, Indonesia, Italy, Malaysia, Singapore and Vietnam, it said on Tuesday September 22.The probe falls under the Special Import Measures Act, and follows a complaint filed...Read More
Domestic steel mesh-quality wire rod producers in Europe managed to achieve new price gains over the past week due to limited supply and increased scrap costs, sources told Fastmarkets on Wednesday September 23.Northern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?460-480 ($545-568) per tonne on Wednesday, widening up...Read More
Turkish steel mills continued to stay away from the deep-sea scrap market on Wednesday September 23, further increasing downward pressure on prices, sources told Fastmarkets.The country's steelmakers have been absent from the deep-sea scrap market since September 9, when bookings were made at $301 per tonne cfr for HMS 1&2 (80:20).Some suppliers tried to increase their offers to $305-310 per...Read More
Seaborne iron ore prices experienced a downward turn on Wednesday September 23 amid a bearish demand outlook for steel products and weaker market sentiment overall, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $113.81 per tonne, down $3.49 per tonne.62% Fe low-alumina fines, cfr Qingdao: $115.41 per tonne, down $2.33 per tonne. 58% Fe fines high-grade premium,...Read More
Seaborne coking coal prices across the board continued their uptrend on Wednesday September 23, with the premium hard coking coal fob price taking the lead. Fastmarkets indicesPremium hard coking coal, fob DBCT: $133.77 per tonne, up $4.76 per tonne Premium hard coking coal, cfr Jingtang: $141.69 per tonne, up $2.85 per tonneHard coking coal, fob DBCT: $110.18 per tonne, up $1.83 per tonneHard cok...Read More