Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before decliningUS market continues to be strongShanghai premiums rise ahead of holidayChina'...Read More
Steel rebar prices in Southern Europe slipped again during the week to Wednesday September 15 amid slow trading activity and a downturn in scrap prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was ?,?745-775 ($880-916) per tonne on Wednesday, down by ?,?15 per tonne from ?,?760-790 per tonne last week.Ital...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday September 15, with trading activity slowing down ahead of the imminent renewal of quarterly European import quotas, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,400-1,430 ($1,654-1,689) per tonne on Wednesday, unchanged since...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...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
German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material...Read More
Export billet prices from Iran continued to increase in the week to Wednesday September 15, supported by demand from Chinese customers.Severe production cuts, which are currently planned to last until October but may continue through December and even into early 2022, were the main reason behind the increased interest in import semis in China last week and early this week.These circumstances allow...Read More
Turkish steel producers have continued their deep-sea scrap bookings for October shipments at fairly stable prices, market participants told Fastmarkets on Wednesday September 15.A steel mill in the Marmara region booked a United States cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $441.50 per tonne, 5,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $456.50 per ton...Read More
The 300-series stainless steel scrap prices in the United States increased week on week while nickel values have trended closer to the $9-per-lb level."There is a significant nickel shortage all over the world, and at least one producer is sold out for the balance of the year with more shortages on the horizon," one market source said.Scrap dealers and processors have tried to hold their...Read More
A Turkish mill has returned to the United States' deep-sea ferrous scrap market to secure material at a $1.50- to $5.00-per-tonne increase compared with the previously reported US sale to the region.An East Coast exporter sold a cargo comprising 23,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $441.50 per tonne cfr, and 5,000 tonnes of shred and 3,000 tonnes of bonus-g...Read More
Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before decliningUS market continues to be strongShanghai premiums rise ahead of holidayChina'...Read More
Accurate reporting of the environmental, social and governance (ESG) performance of metals and mining companies is becoming critical in securing investment, financing and offtake agreements, according to blockchain technology platform MineHub.Metals and mining companies are under enormous pressure to improve their ESG credentials, and need to produce specific data to show that they are meeting the...Read More
Fastmarkets has corrected the pricing rationale for MB-CO-0005 cobalt standard grade, in-whs Rotterdam, $ per lb, which was published incorrectly on Wednesday September 15 due to reporter errors.The range of offers was entered incorrectly for publication in the rationale as $24.30-24.80 per lb, and has been corrected to $24.60-24.80 per lb.One bid at $24.30 was discarded from the assessment due to...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 15.Please click...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...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
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
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More