Base metals prices on the London Metal Exchange were lower across the board at 5pm on Monday September 13, after coal prices continued to trade downward and strength was seen in the US dollar.The US Dollar Index reached a high of 92.89 on Monday, the highest level seen for more than two weeks and shoring up the current weakness across the base metals complex.The three-month nickel price came under...Read More
The recovery of the Brazilian domestic flat steel market appears to have peaked in recent weeks, but it is expected to continue strong through 2022, according to ArcelorMittal Brasil chief executive officer Benjamin Baptista Filho."We saw since last year a very strong recovery of the Brazilian manufacturing activity, especially from the agribusiness sector, and demand for steel rose in a sustained...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
The recovery of the Brazilian domestic flat steel market appears to have peaked in recent weeks, but it is expected to continue strong through 2022, according to ArcelorMittal Brasil chief executive officer Benjamin Baptista Filho."We saw since last year a very strong recovery of the Brazilian manufacturing activity, especially from the agribusiness sector, and demand for steel rose in a sustained...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Activities at the S??o Francisco do Sul port, in Brazil's southern Santa Catarina state, resumed after a truckers' road blockade prevented normal operations during this past week, a spokesperson for the port's operator told Fastmarkets on Friday September 10.According to a report from the country's infrastructure ministry, blockades ended entirely on Friday. Demonstrations that broke out across Br...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Flat steel prices in the Brazilian domestic market remained stable in September, with distributors facing a slow pace of sales and competition from imported material booked several months ago.Steelmakers were not giving any discounts from their prices despite a lower level of sales, because international prices for steel were still seen to be strong.Fastmarkets' monthly price assessment for steel...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
Flat steel prices in the Brazilian domestic market remained stable in September, with distributors facing a slow pace of sales and competition from imported material booked several months ago.Steelmakers were not giving any discounts from their prices despite a lower level of sales, because international prices for steel were still seen to be strong.Fastmarkets' monthly price assessment for steel...Read More
Prices for most metals fell on Monday September 13, except for aluminium, which set a new 13-year high of $3,000 per tonne on Monday.Monday's price drops came after most metals reached year-to-date highs on Friday September 10.Nickel's three-month price was down to $19,870 per tonne on Monday morning, a 2.6% decrease from its closing price of $20,392 per tonne on Friday.The stainless-steel metal r...Read More
Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...Read More
Seaborne iron ore prices inched down on Monday September 13 due to weak buying interest from end users, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.84 per tonne, down $5.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, down $6.09 per tonne58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, down $6.13 per tonne65% Fe Br...Read More
The recovery of the Brazilian domestic flat steel market appears to have peaked in recent weeks, but it is expected to continue strong through 2022, according to ArcelorMittal Brasil chief executive officer Benjamin Baptista Filho."We saw since last year a very strong recovery of the Brazilian manufacturing activity, especially from the agribusiness sector, and demand for steel rose in a sustained...Read More
Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...Read More
China's production and sales of automobiles continued to decline on both a monthly and an annual basis in August 2021, after Covid-19 outbreaks choked the supply chain and cost pressure ramped up, the China Association of Automobile Manufacturers (CAAM) said in its monthly report published on Friday September 10.For the same month, overall car exports, output and sales figures for new energy vehic...Read More
The Brazilian domestic price for steel rebar was unchanged in September, with producers and buyers in a tug of war amid a global downturn and efforts to prevent oversupply in the market.Fastmarkets' price assessment for steel reinforcing bar (rebar) domestic, monthly, delivered Brazil held at 5,100-5,310 Reais ($972-1,012) per tonne on Friday September 10, compared with August 13, when it fell to...Read More
Major Japanese carmaker Toyota is cutting production by another 400,000 units globally in September and October due to a "shortage of certain parts" caused by Covid-19 in Southeast Asia, it said last Friday September 10.The cut includes 70,000 units in September, of which 40,000 units are overseas and 30,000 units are in Japan.In October, it will reduce production by 330,000 units - 150,000 units...Read More
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More