The three-month zinc price on the London Metal Exchange reached a 14-year high of $3,750 per tonne on Friday October 15, with prices and premiums spiking amid concerns over supply in Europe and the United States.Friday's price represents its highest level since 2007 and a 16.4% increase from the start of the week, with the contract closing at $3,222 per tonne on Monday. "The threat of further prod...Read More
Hot-rolled and cold-rolled coil prices increased in Turkey during the week to Friday October 15, following the sharp increase in scrap prices, sources told Fastmarkets.Turkey's scrap import prices jumped during the week on new deals done at higher levels.Fastmarkets' daily index for steel scrap HMS 1&2 (80:20 mix) United States origin, cfr Turkey was $486 per tonne on October 14, up from $450.14 p...Read More
A lack of trading across Europe kept domestic prices for hot-rolled coil fairly stable on Friday October 15, sources told Fastmarkets.Bearish sentiment is prevailing in the market, supported by poor demand from the automotive sector and good domestic supplies. Buyers and sellers have mainly been holding back from making deals, with only limited volumes traded in Europe during the week, sources sai...Read More
Higher demand in key consumer markets led to a jump in steel scrap prices across all major markets in the week to Friday October 15, sources have told Fastmarkets.?EUR?Turkey import prices spike amid limited supply, firm demand?EUR?Further price increases expected in US export market?EUR?High prices dissuade Vietnam buyers from more deals?EUR?China scrap demand recovers amid less stringent power r...Read More
Prices in the United States' pig iron import market went up during the week to Friday October 15 amid an improved global market mood, sources told Fastmarkets. Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $545-550 per tonne on Friday, up from $540 per tonne a week earlier.Offers of Russia-origin...Read More
Slab export prices from Brazil declined in the week to Friday October 15, with offers and bids consolidating at lower levels, but market participants expected prices to have reached a bottom with no further room to drop.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $740-760 per tonne on Friday, down by $20 from $760-780 per tonne on October 8.Demand remain...Read More
The inter-merchant market for light-iron steel scrap in the United Kingdom was steady for a fourth week on Friday October 15, supported by strong export markets and tight availability of scrap in all areas, trade sources told Fastmarkets.Prices for light iron were further cemented on this week's settlement of monthly delivery prices into domestic steel mills, which were agreed at stable or higher...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
Higher demand in key consumer markets led to a jump in steel scrap prices across all major markets in the week to Friday October 15, sources have told Fastmarkets.?EUR?Turkey import prices spike amid limited supply, firm demand?EUR?Further price increases expected in US export market?EUR?High prices dissuade Vietnam buyers from more deals?EUR?China scrap demand recovers amid less stringent power r...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
Higher demand in key consumer markets led to a jump in steel scrap prices across all major markets in the week to Friday October 15, sources have told Fastmarkets.?EUR?Turkey import prices spike amid limited supply, firm demand?EUR?Further price increases expected in US export market?EUR?High prices dissuade Vietnam buyers from more deals?EUR?China scrap demand recovers amid less stringent power r...Read More
Steel wire rod prices in Poland were broadly flat in the week to Friday October 15, while market sources expect producers to increase prices in November due to higher energy costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland remained at 3,800-3,900 zloty ($964-989) per tonne on Friday, unchanged from the previous we...Read More
Domestic hot-rolled coil prices in China cruised higher on Friday October 15, with the futures market extending its gains on production curbs in the country showing no signs of easing.DomesticEastern China (Shanghai): 5,760-5,830 yuan ($896-907) per tonne, up by 20-40 yuan per tonneNorthern China (Tangshan): weekly assessment: 5,720-5,780 yuan per tonne, down by 20-60 yuan per tonne The most-trade...Read More
Key data from Fastmarkets' European secondary aluminium pricing session on Friday October 15.Key drivers:Prices for secondary aluminium ingots of DIN226 grade hit a record high on Friday October 15, the highest price reported for the grade since Fastmarkets began pricing it in 2002, and a 7.6% increase from the previous week.Record high prices for scrap, silicon and magnesium contributed to the up...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
The Port of Los Angeles plans to operate around the clock seven days a week to address a growing backlog of shipments waiting in cargo containers anchored offshore to be unloaded at the port.The port announced the move on Wednesday October 13, joining a similar effort that began at the nearby Port of Long Beach in September.The port is figuring out the details of how it will work with supply chain...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 15.Jessica Long, Zihao Li and Ruby...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More
The European Commission (EC) has extended anti-dumping duties on imports of wire rod from China until 2026, the Official Journal of the European Union said on October 13.The EC concluded that dumping would likely recur if the current measures were allowed to lapse. This followed an expiry review lodged by the European steel association, Eurofer, in July 2020 on behalf of...Read More