The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loa...Read More
Seaborne iron ore prices continued to fall on Friday October 29 after Hebei and Shandong provinces introduced steelmaking production restrictions to curb air pollution, with further emissions limits expected in the winter-heating season from November 1, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $107.28 per tonne, down $5.37 per tonne62% Fe low-alumina fines, cfr Qingdao:...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Indian domestic secondary billet prices increased slightly by end of the week to Friday October 29 on renewed buying interest and rising raw material prices.Fastmarkets' price assessment for steel billet domestic, ex-works India was at 46,500-46,700 rupees ($620.03-622.70) per tonne on Friday, up by 200 rupees compared with the previous week's assessment of 46,300-46,500 rupees per tonne ex-works....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade,...Read More
A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More
Prices for shredded steel scrap imported into Pakistan and India increased on Friday October 29, despite concerns over rising freight costs, sources have told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $563.74 per tonne on Friday, up from $557.48 per tonne on October 22.Deals were heard at $560-565 per tonne this week, u...Read More
The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
Reduced market liquidity between monthly negotiations and lower offers from China pressured imported flat-rolled steel prices lower in South America during the week ended Friday October 29.Most customers had already satisfied their December needs during the previous week and refrained from ordering more, according to market participants. They were also again weighing the risk that would result fro...Read More
Mill-grade aluminium scrap prices declined week on week following decreases in primary aluminium prices on the London Metal Exchange, while the non-ferrous auto shred (twitch) price remained supported by solid export demand.Fastmarkets' assessment of the segregated low copper alloy clips 5052, mills specialty consumers' buying price, fob shipping point US decreased by 9 cents to $1.33-1.37 pe...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Slab export prices from Brazil inched up in the week ended Friday October 29, but the market remained calm, with most producers already having sold their December-shipment batches.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $730-740 per tonne on Friday October 29, up from $720-740 per tonne a week earlier.The higher...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Global ferrous scrap prices showed varying fortunes in the week ended Friday October 29, with Turkey, India and the United States all reporting stability or prices increases, while the markets in Taiwan, Vietnam and China all weakened.?EUR?Turkish scrap prices remain steady on public holiday?EUR?US export prices rise on tight domestic market?EUR?Vietnam prices affected by falling Chinese market?EU...Read More
Hot-rolled coil prices in eastern China increased on Friday October 29 on early gains in the futures market and a pick-up in spot buying activity.DomesticEastern China (Shanghai): 5,330-5,340 yuan ($834-836) per tonne, up by 40 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,300-5,350 yuan per tonne, down by 250-270 yuan per tonne The most-traded January HRC futures contract on the Sh...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
ArcelorMittal has moved forward scheduled maintenance of its galvanizing lines at its Florange site in northeastern France due to reduced demand from the automotive industry, a company representative told Fastmarkets.The company revealed the decision earlier this week, citing in part, the decreased demand from the automotive industry due to an ongoing global semiconductor shortage.The maintenance...Read More
The price assessment for imported billet into Egypt decreased in the week to Thursday October 27, but local rebar prices widened upward on higher offers, sources told Fastmarkets.Local rebar producers increased their prices, effectiveOctober 20.Current offer prices for rebar range from E ?14,900 to15,350 ($946-975) per tonne ex-works including 14% VAT.Demand failed to improve in the country, howev...Read More