Iron ore prices went up on Thursday June 17, supported by improved liquidity in the physical markets, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $220.82 per tonne, up $6.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.01 per tonne, up $5.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $188.48 per tonne, up $3.56 per tonne65% Fe Brazil-origin...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 16.Please click...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
The Italian steel distributors association, Assofermet, is calling for the complete removal of safeguard measures in Europe to protect steel users and consumers from the effects of the record high prices currently seen in the market. The association demanded the removal of the import controls on 26 steel products after the European Commission proposed extending the current measures for another thr...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
Brazilian apparent steel consumption soared by 83% year on year in May, according to figures from national steel institute, A??o Brasil.Apparent steel use reached 2.50 million tonnes in May compared with 1.37 million tonnes in the same month in 2020, the institute said on Thursday June 17.Consumption of flat-steel products rose 98.90% to 1.45 million tonnes from 730,000 tonnes in the same comparis...Read More
Enabling large-scale expansion of solar power production capacity is a crucial part of the transition to a sustainable future for energy, but its prospects of growth rest on the current and future availability of key minerals and metals. Governments and organizations the world over are busy setting ambitious targets to cut carbon footprints and restrict global warming to less than 2 degrees Celsiu...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The seamless pipe market continued its rise over the past month across most products and geographies. Sharp price increases of $135-140 per tonne were seen for oil country tubular goods (OCTG) and line pipe in the United States. In Europe and in the Middle East, increases were more modest, with the exception of a few product...Read More
Fastmarkets will launch a monthly assessment of the discount for No1 copper material, candy/berry, on a cif China basis on June 28. After a consultation period, Fastmarkets has decided to launch a monthly assessment of the discount for No1 copper material, candy/berry, on a cif China basis. Over the consultation period from May 5 to June 7, buying interest in No1 copper material remained stro...Read More
Technology entrepreneur Elon Musk once described the ongoing use of fossil fuels and their generation of a vast carbon footprint as "the dumbest experiment in human history."Not everyone will agree with his assessment of the petroleum, gas and coal sectors, which have powered the world's growth for decades. Nonetheless, the twin goals of supply chain security and sustainability are now driving a t...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...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
Here are five Fastmarkets stories you might have missed on Thursday June 17 that are worth another look.Vale is testing the use of unmanned trains at its Mariana iron ore complex to transport ore to the Timbopeba plant in a bid to reverse a recent state-ordered stoppage, it said on...Read More
Turkish steel billet prices in local and export markets have increased this week on improving demand, while imported billet prices narrowed downward, market participants said on Thursday June 17.Turkish market participants were expecting prices to increase for billet because of high scrap prices.Scrap prices decreased during the week, but the price falls were not sharp.Fastmarkets' daily index for...Read More
Offers from billet producers in the Commonwealth of Independent States were stable in the second half of the week despite reports of limited demand.Customers in Asia, particularly China, were not willing to pay above $700 per tonne cfr early in the week, which would be equivalent to $640 per tonne fob Black Sea. No deal were concluded at this price because it was considered too low by mills sellin...Read More
Trading activity in the European heavy plate market slowed in the week to Wednesday June 16 and buyers stayed in wait-and-see mode, sources told Fastmarkets."We have almost zero buying and zero selling activity this week," a German distributor said.Availability is also limited from European suppliers."The delivery time from German steelmakers is October-November. On top of that, Salzgitter is faci...Read More
Copper's price fall and a higher US dollar index were the main factors in a decline in London Metal Exchange base metals prices for a fourth day on the morning of Thursday June 17, with most down by at least 1%.The three-month copper contract on the LME was at $9,459.50 per tonne at 9am London time on Thursday, down by 2.1% from its $9,667 per tonne closing price on Wednesday. The contract fell to...Read More
Hot-rolled coil prices in the United States have held above $84 per hundredweight ($1,680 per short ton) for five consecutive business days, with mills struggling to meet buoyant demand, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $84.22 per cwt ($1,684.40 per ton) on Thursday June 17, down by 0.75% from $84.86 per cwt on Wednesday June 16...Read More
Latin America's apparent steel use grew by 27.04% in March this year over the corresponding month of 2020, while consumption increased by 17.03% on the same basis of comparison during the first quarter, regional association Alacero said on Thursday June 17.Steel consumption in the region totaled 6.72 million tonnes in March, up from 5.29 million tonnes a year before, according to data from the ass...Read More