Large volumes of steel billet position cargoes held by traders have been offered at lower prices to buyers in Southeast Asia in recent days amid China's continued price decline, sources told Fastmarkets.Closures at Chinese rerolling mills amid power rationing and environmental measures, together with spiraling ferrous futures markets, have badly damaged steel billet demand in the country this week...Read More
Carbon steel plate prices in the United States were stable on Friday October 22 but are expected to go up next week, since Nucor announced a price increase Friday that market participants believe will be accepted.Fastmarkets' cut-to-length plate, fob mill US price was assessed at $89 per hundredweight ($1,780 per short ton) on Friday, flat since October 1 and at an all-time high.Inputs ranged...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
Prices for cold-rolled and galvanized steel sheet in the United States edged lower on Thursday October 21 after remaining flat for several weeks.Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US stood at $108 per cwt ($2,610 per ton) on October 21, down by 1.82% from $110 per cwt on October 14 but up by 166.67% from $40.50 per cwt one year earlier.Fastmarkets' assessment for s...Read More
Domestic prices for steel rebar in Poland were largely unchanged over the past week, but local mills would be looking for higher prices starting next week because of increased costs, Fastmarkets heard on Friday October 22.Trading activity in the local market started to pick up this week, sources said."We see an increasing level of inquiries. The market is waking up," a local mill said.The local mi...Read More
Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.A trade was finally heard in the fob spot market on Friday. And China's National Development & Reform Commission (NDRC) held a meeting during the morning to work out plans to tackle high coal...Read More
Base metals prices on the London Metal Exchange were mainly stronger during morning trading on Friday October 22, but those on the Shanghai Futures Exchange were largely down - this follows significant losses on the LME on Thursday.Chinese property giant Evergrande Group makes a dollar bond interest payment.US treasury yields up sharply following better-than-expected US initial jobless claims data...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi...Read More
Seaborne prices for low-volatility pulverized coal injection material (PCI) in both the fob and cfr markets in China have increased because of persistently tight supply, Fastmarkets heard on Friday October 22.A trade was finally heard in the fob spot market on Friday. And China's National Development & Reform Commission (NDRC) held a meeting during the morning to work out plans to tackle high coal...Read More
Aluminium billet premiums remained high across the globe on Friday October 22, with market participants focused on business for 2022.EuropeEuropean billet premiums hit more record highs in the week ended October 22, with continued strong demand and concern about availability going into next year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region), at $...Read More
London Metal Exchange base metals prices were mostly lower at the 5pm close on October 22, with investors looking to book profits from peaks reached earlier in the week. Aluminium's three-month price rolled back most of the gains made so far this month, with its closing price on Friday at 5pm, at $2,868 per tonne, being the lowest since October 6, with more than 37,000 lots traded. The metal...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 22.Jessica Long, Zihao Li and Ruby...Read More
Hot-rolled coil prices in the United States ended the week by sliding to their lowest level since late August, with more uncertainty fogging the market outlook.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.39 per hundredweight ($1,907.80 per ton) on Friday October 22, down by 0.82% from $96.18 per cwt on Thursday October 21 and down by 0.08% from $95.47 per cwt...Read More
Turkish steel producers made another deep-sea scrap booking late on Thursday October 21, taking the total for the week to five cargoes from various locations and at increasing prices, market participants told Fastmarkets on Friday October 22.A steel mill in the Iskenderun region booked a United States cargo comprising 27,000 tonnes of heavy melting scrap 1&2 (80:20) at $505 per tonne cfr late on O...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
Ferrous scrap prices in the global markets continued to strengthen in the week ended Friday October 22 amid firm demand and tight supply. Turkish steel mills continued to pay higher prices for deep-sea scrap cargoes, while buyers in Southeast Asia had to raise their bids because of limited supply.?EUR?Turkish steel mills end the week with five deep-sea cargo trades, prices up?EUR?Tight supply in t...Read More
Freeport-McMoRan's Indonesian unit plans to start long-term mine development activities at its Kucing Liar deposit, the company said.PT-Freeport Indonesia (PT-FI), in which Freeport holds a 48.76% stake and manages its mining operations, will develop the project over the next 10 years, the US copper producer said.At full operating rates, annual production from Kucing Liar is expected to exceed 500...Read More
Egypt's prices for imported billet and domestic reinforcing bar increased in the week to Thursday October 21, with demand also picking up from previous weeks, sources told Fastmarkets.Local rebar producers increased their prices effective October 20.Buying increased after the price hikes were announced because buyers believed prices could rise further, traders said.On the other hand, the Advanced...Read More
Reduced operations at steel rerolling mills in several key cities across China have hurt prices for steel billet in China's local and import markets, sources said on Thursday October 21.The northern Chinese steelmaking hub Tangshan ordered rerolling mills in its Fengrun district to suspend production from October 21 to 31 to improve air quality, market participants told Fastmarkets.The production...Read More
The government of the United Kingdom plans to set up an expert committee on critical minerals to provide independent advice on the scope and content of a critical minerals strategy to meet the country's net-zero carbon emissions targets, it said.In a move designed to guide investment decisions, the government also plans to update the country's critical minerals list, which details materials that a...Read More