Spot prices for hot-rolled coil in China's domestic market held stable on Monday September 13, supported by expectations of a decline in supply due to more local governments stepping up efforts to curb energy consumption.DomesticEastern China (Shanghai): 5,850-5,900 yuan ($906-914) per tonne, narrowing downward by 20 yuan per tonneSouthwest China's Yunnan province requires steel mills across the r...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade.WTI crude oil added $0.42 to $70.14 per barrel after Tropical Storm Nicholas entered oil producing areas in the Gulf of Mexico.Amazon slipped $15.01 to $3469.15 despite a target price increase by Goldman Sachs to $4200Apple added $0.98 to $149.95 prior to expected launch of its iPhone 13...Read More
Base metals prices were mixed on both the LME and the SHFE this morning, Monday September 13. But while the mood in broader markets remains somewhat negative, the base metals seem to be entering the post-summer period in a more bullish mood.There is a barrage of key Chinese economic data out this week, which the market is likely to watch closely for signs that the Chinese economy is slowing.Base m...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
Germany's federal government plans to fund ?,?55 million ($65 million) for the construction of the first industrial-scale hydrogen direct-reduced iron (DRI) plant at ArcelorMittal Hamburg steelworks, the company said on September 8.The German government will provide half of the total required investment of ?,?110 million. The funding plan now must be approved by the European Commission (EC) before...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...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
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
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore remains the most bullish commodity of the year, with prices fuelled by Chinese demand and supply disruptions in Brazil, along with bullish sentiment. But prices are expected to come down because Brazilian exports have begun to recover, and have reached their highest level since the Brumadinho dam disaster in 2019. W...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