Mexican ferrous scrap prices showed little movement in the week ended Friday July 31, with downward pressure in the steel value chain starting to ease in the country.With the exception of one mill in the country's central Baj?-o region, no major scrap price changes were announced in the Mexican market during the week. This mill lowered prices for most grades by 100 pesos per tonne.Fastmarkets...Read More
The Turkish steel mills have broken their silence in the market and have resumed their deep-sea purchases after the Eid al-Adha religious holiday in the country, sources said on Tuesday August 4.A steel mill in the Marmara region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 20,000 tonnes of shredded and 10,000 tonnes of a mixture of HMS 1 and new cuttings at an average...Read More
Chinese demand for imported billet increased sharply in the first six months of 2020 due to higher domestic prices in China in comparison with those beyond its shores, and market participants expect this situation to persist in the second half.Buyers in China started importing billet in large quantities since the second half of 2019, and the volume of imports grew gradually month on month.In Janua...Read More
Brazilian iron ore exports appear to be maintaining the pace of their recovery amid the Covid-19 pandemic, with volumes dipping by just 0.69% on the year in July.But exports were higher month on month, according to figures released by the country's economy ministry on Monday August 3.The country shipped 33.99 million tonnes of iron ore last month, compared with 34.23 million tonnes a year earlier....Read More
Benchmark prices for cobalt metal lurched higher in the first few trading days of August as a recovery in the Chinese market trickled through to encourage increased buying - and higher prices - in the rest of the world. Fastmarkets assessed the prices for cobalt standard grade, in-whs Rotterdam and cobalt alloy-grade, in-whs Rotterdam at parity at $14.25-14.70 per lb on Tuesday August 4, up f...Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 4 that are worth another look.The United States Midwest aluminium premium hit a nearly four-month high on August 4, with the market widely assuming further increases due to expectations that Canada will again face US tariffs - a factor that has continued to boost offers and tighten discounting. Price fluctuations i...Read More
Mexican ferrous scrap prices showed little movement in the week ended Friday July 31, with downward pressure in the steel value chain starting to ease in the country.With the exception of one mill in the country's central Baj?-o region, no major scrap price changes were announced in the Mexican market during the week. This mill lowered prices for most grades by 100 pesos per tonne.Fastmarkets...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 4.Read More
Here are five Fastmarkets stories you might have missed on Tuesday August 4 that are worth another look.The United States Midwest aluminium premium hit a nearly four-month high on August 4, with the market widely assuming further increases due to expectations that Canada will again face US tariffs - a factor that has continued to boost offers and tighten discounting. Price fluctuations i...Read More
Chinese demand for imported billet increased sharply in the first six months of 2020 due to higher domestic prices in China in comparison with those beyond its shores, and market participants expect this situation to persist in the second half.Buyers in China started importing billet in large quantities since the second half of 2019, and the volume of imports grew gradually month on month.In Janua...Read More
The three-month price of nickel on the London Metal Exchange was the base metals complex's standout performer on Tuesday August 4, closing above the psychological level of $14,100 per tonne for the first time since January in a 1.2% rally from the previous day's close.Nickel's LME three-month price spanned a wide $270 per tonne intra-day range, hitting a high of $14,135 per tonne before closing at...Read More
Spot supply of blister copper improved to boost the intermediate copper product's refining charges (RC) in July, mainly due to arrival of delayed African cargoes at Chinese ports, Fastmarkets heard.Fastmarkets assessed 98-99% blister copper RC, spot, cif China at $135-155 per tonne for July, up 20% from $110-132 per tonne one month earlier. A few parcels were even reported being bought close to $1...Read More
Seaborne premium hard coking coal prices slumped on Tuesday August 4 following a recent transaction sealed at lower prices, with market participants attributing the downtrend partly to China's import restrictions on coking coal. Fastmarkets indices Premium hard coking coal, fob DBCT: $106.40 per tonne, down $1.96 per tonne Premium hard coking coal, cfr Jingtang: $116.38 per tonne, down $2.27 per t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.?EUR? US domestic prices for hot-rolled coil have moved down in line with our expectations, averaging $508 per tonne in July compared with our forecast price of $519 per tonne. While we are forecasting coil price increases in August, we have revised our expectations downward. Although steelmakers are reporting improving dema...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The price for steel scrap in China has risen recently, amid high mill operating rates and at a time of heavy rain, but it remains at a premium to hot metal, we estimate. Heavy rains in China tend to increase the moisture content of iron ore stockpiles, which can cause issues during the sintering process, and this may have en...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Numerous ore and alloy markets enjoyed upward pricing momentum in the first half 2020, with supply-side constraints supporting prices despite collapsing demand from steelmakers and other key end users. While supply side issues related to Covid-19 lockdowns have been resolved,...Read More
The three-month price of nickel on the London Metal Exchange was the base metals complex's standout performer on Tuesday August 4, closing above the psychological level of $14,100 per tonne for the first time since January in a 1.2% rally from the previous day's close.Nickel's LME three-month price spanned a wide $270 per tonne intra-day range, hitting a high of $14,135 per tonne before closing at...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.?EUR? US domestic prices for hot-rolled coil have moved down in line with our expectations, averaging $508 per tonne in July compared with our forecast price of $519 per tonne. While we are forecasting coil price increases in August, we have revised our expectations downward. Although steelmakers are reporting improving dema...Read More
German copper alloy maker Wieland Group has expanded into hot tin plating in the United States via the acquisition of metal fabricators Marjin Inc and Nasco Inc, the company announced on Tuesday August 4. Wieland completed the purchases of the companies - both of which are based in Waterbury, Connecticut - on July 31, the Ulm-based company said.These companies are "a terri...Read More
Output of mined copper from Chile fell by 0.7% during June 2020, compared with the corresponding month in 2019, amid renewed Covid-19-related restrictions in the country, data from Chilean copper commission Cochilco showed on Tuesday August 4.Chile produced 466,500 tonnes in copper content in the month, down from 469,900 tonnes a year before, according to Cochilco. This was the first monthly year-...Read More