The price of steel hollow sections in Europe moved downward in the week to Wednesday October 20, due to recent imports and falling feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,230-1,275 ($1,432-1,484) per tonne on October 20, down from ?,?1,275-1,330 per tonne on October 13.Domestic hollow se...Read More
Lead's three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.Lead's three-month price closed at $2,417 per tonne on Wednesday, a 1.7% increase from its Tuesday closing price of $2,376 per tonne. "We envisage a...Read More
Steel rebar producers in Egypt increased their prices by around E ?400-600 ($25-38) per tonne with effect from Wednesday October 20, Fastmarkets has heard.The country's biggest producer, Ezz Steel, was now offering rebar at E ?15,000 ($952) per tonne ex-works including 14% VAT, rising from the previous E ?14,600 per tonne. The price was previously unchanged since May 17.Rebar producers in Egypt...Read More
Australia-based global miner BHP has raised its offer in a bidding war to acquire prospective Canadian nickel producer Noront Resources.The Toronto-based junior miner recommended to its shareholders in July that they accept BHP's offer, worth at that time C$325 million ($263 million), instead of a competing offer from another Australian miner, Wyloo Metals.Wyloo counteroffered, and BHP raised its...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More
Fastmarkets sees upside risk to Chinese graphite prices in the fourth quarter of 2021, largely reflecting rising electricity costs and reduced power supply, as well as insufficient inventories and inadequate availability of feedstock for spherical graphite processing.High power costs and limits on energy consumption in China may make it increasingly difficult for graphite producers to stockpile ma...Read More
Australia-based global miner BHP has raised its offer in a bidding war to acquire prospective Canadian nickel producer Noront Resources.The Toronto-based junior miner recommended to its shareholders in July that they accept BHP's offer, worth at that time C$325 million ($263 million), instead of a competing offer from another Australian miner, Wyloo Metals.Wyloo counteroffered, and BHP raised its...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
Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More
Lead's three-month price set a new year-to-date peak of $2,427 per tonne on the afternoon of Wednesday October 20, together with nickel, which rose by almost 6% to more than $21,000 per tonne, with sentiment on the London Metal Exchange still bullish.Lead's three-month price closed at $2,417 per tonne on Wednesday, a 1.7% increase from its Tuesday closing price of $2,376 per tonne. "We envisage a...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Alex Cook...Read More
Hot-rolled coil prices in the United States increased incrementally day on day on Wednesday October 20, but ultimately reflected the ongoing downward trend.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.95 per hundredweight ($1,919 per ton) on Wednesday, up slightly from $95.89 per cwt on Tuesday, but down 0.87% from $96.79 per cwt one week earlier. The index is...Read More
Taiwan's import prices for containers of steel scrap were expected to continue to rise because of a huge premium for bulk import prices over material arriving in containers, market sources told Fastmarkets on Wednesday October 20.?EUR?Taiwanese buyers continue to book containerized cargoes?EUR?Chinese market muted by wide bid-offer gaps?EUR?China's ferrous scrap import volumes down by 49% month on...Read More
Japanese local and export buyers have been locked in a fight for steel scrap in the week to Wednesday October 20, pushing up prices across the board, sources told Fastmarkets.Major electric arc furnace (EAF) mill Tokyo Steel on Wednesday announced it would raise its scrap buy prices by ?500-1,000 ($4.38-8.75) per tonne at some of its works starting Thursday October 21. This marks the second price...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies in...Read More
Turkish steelmakers continued to pay higher prices for deep-sea ferrous scrap cargoes scheduled for shipment in December, market sources told Fastmarkets on Wednesday October 20.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 32,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $502 per tonne and 3,000 tonnes of bonus-grade scrap at $522 per tonne cfr.Pre...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 20 that are worth another look.Workers at steelmaker ArcelorMittal's plant in Ghent, Belgium, might go on strike from Thursday next week in a dispute over salaries, Fastmarkets heard on October 20.Trafigura has been drawing...Read More