Here are five Fastmarkets stories you might have missed on Wednesday July 14 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) expects the prospects for global long steel products to remain satisfactory for the rest of 2021 and for 2022.The European Commission adopted on July 14...Read More
United States nickel briquette premiums surged upward by over 34% this week after mine strikes continued to tighten supply, while Chinese premiums rose on the open arbitrage window between London and Shanghai and European premiums remained flat, sources told Fastmarkets.US briquette premiums gained 34.8% this week after Vale's strike added to the existing material shortageThe open arbitrage window...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday July 14.Key drivers Alloys suppliers reported stronger buying interest in the week to July 14, with consumers of ferro-titanium seeking offers due to recently announced export duties on ferro-alloys from Russia, which will come into effect from August 1 and last until the end of the year. Deals were reported at the upper end of the...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.US consumer price index (CPI) climbed by 0.9% month on month in June, after a 0.6% rise in MayUS 10-year treasury yields rebound to 1.4%, after a low of 1.25% last week...Read More
China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...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...Read More
Metal held outside of London Metal Exchange warehouses fell for the third month in a row to just above 1 million tonnes in May, according to data released by the LME, with the amount aluminium and copper falling by more than 10%.Across all metals, stocks fell by 140,246 tonnes through May to 1,037,379 tonnes, the latest LME off-warrant stock report shows, down from 1,177,625 tonnes in April.The bi...Read More
Shipments of cobalt hydroxide from South Africa are likely to be delayed due to serious civil strife in the country; most market participants preferred to hold back activity until the effects on the markets become clearer.The civil strife in South Africa, with significant incidents in KwaZula-Natal province in eastern South Africa, was sparked by the jailing of former South African president Jacob...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
Coking coal market in China stayed largely stable on Wednesday July 14 despite a few buying interests from end users in south China. There are also new buying activities for Australia coking coal loaded in November, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.03 per tonne, down $0.24 per tonnePremium hard coking coal, cfr Jingtang: $308.32 per tonne, up $0.34 pe...Read More
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
Trading activity in the Iranian export steel billet market has diminished in mid-July with local producers being forced to cut their output due to an electricity shortage in in the country, Fastmarkets heard on Wednesday July 14.Tehran and Iran's other major cities have experienced frequent power outages since May, and authorities say that these may continue until late July.In order to continue to...Read More
Hot-rolled coil prices in the United States crossed the $91-per-hundredweight ($1,820-per-short-ton) barrier for the first time on Wednesday July 14, reaching an all-time high since Fastmarkets started assessing the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.33 per cwt ($1,826.60 per ton) on July 14, an increase of 1.55% from $89.94 per cwt on...Read More
Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...Read More
Domestic prices for steel wire rod in the south of Europe were stable or slightly lower in the week to Wednesday July 14, while trading activity was rather cool because buyers were abstaining from bookings, expecting prices to correct downward in August, Fastmarkets has heard.Producers, meanwhile, were in no rush to reduce their prices, citing good order books, high feedstock costs and reduced ava...Read More
Domestic prices for cold-rolled coil in Europe have remained high despite competitive import offers to the region in the week to Wednesday July 14, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, import, cfr main port Northern Europe, was ?,?1,150-1,200 ($1,360-1,419) per tonne on July 14, down by ?,?50 per tonne week on week from ?,?1,200-1,250 per tonne.The assessmen...Read More
The steel rebar market in the south of Europe was quiet in the week to Wednesday July 14, with prices broadly flat, although market sources told Fastmarkets that producers were considering price rises.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?780-820 ($922-970) per tonne on Wednesday, compared with ?,?760-830 per tonne one w...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More
The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More