Base metals prices on the London Metal Exchange continued to trade higher across the board during the day on Wednesday June 23. Prices across the complex followed their recent upward momentum during Wednesday's trading as a result of pacified market sentiment following the testimony given by Federal Reserve chairman Jerome Powell to Congress on Tuesday. "In his testimony, Powell's tone was relativ...Read More
US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More
Steel billet export prices from the Commonwealth of Independent States dropped on Wednesday June 23 after some bookings done at lower levels came to light.CIS suppliers' orders were supported by demand from Turkey, although deals were done at discounted levels.A cargo of Russia-origin billet was sold to the country at $665 per tonne cfr late last week. Considering the recent increase in....Read More
Domestic transaction prices for hot-rolled coil in Northern Europe went up on Wednesday June 23, driven by the continuing shortage of material, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,185.04 ($1,411.73) per tonne on Wednesday, up by ?,?30.04 from ?,?1,155.00 per tonne on June 22.The index was up by ?,?50.04...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 23.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
A summary of China's ores and alloys imports for May 2021.In brief May imports of ferro-chrome declined because buyers were less concerned about domestic supply after Inner Mongolia loosened its energy controls on high consuming companies in the second quarter. Manganese ore imports rose month on month with increased arrivals from...Read More
US imports of standard steel welded wire mesh from Mexico are being or are likely to be sold at less than fair value, the Commerce Department said in a final determination on Wednesday June 23.The weighted-average dumping margin has been set at 110.42% for Deacero SAPI de CV and 23.04% for Aceromex SA de CV and all other exporters. Commerce had estimated those margins at 23.67-152.68% in its preli...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Iron ore prices rose on Wednesday June 23 amid improved sentiment because of the possible easing of blast furnace restrictions in China's Tangshan province and the sharp rise in coal prices, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $216.01 per tonne, up by $1.69 per tonne62% Fe low-alumina fines, cfr Qingdao: $219.34 per tonne, up by $3.34 per tonne58% Fe fines high-grad...Read More
Iron ore prices rose on Wednesday June 23 amid improved sentiment because of the possible easing of blast furnace restrictions in China's Tangshan province and the sharp rise in coal prices, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $216.01 per tonne, up by $1.69 per tonne62% Fe low-alumina fines, cfr Qingdao: $219.34 per tonne, up by $3.34 per tonne58% Fe fines high-grad...Read More
Base metal prices on the London Metal Exchange continued to edge up on the morning of Wednesday June 22, with comments by the United States Federal Reserve chairman on future actions by the central back easing tapering concerns."To reassure the markets, US Federal Reserve chairman Jerome Powell said: 'We will not raise interest rates pre-emptively because we think employment is too high [or] becau...Read More
The aluminium price on the Shanghai Futures Exchange rose for a second consecutive day on Wednesday June 23 even as the Chinese government announced further details of the sell-off of aluminium reserves on its website on June 22. China's National Food and Strategic Reserves Administration on June 22 said it will sell 50,000 tonnes of aluminium to the market through tenders in an initial batch...Read More
The Midwest US copper premium rose to its highest level in eight years on Tuesday June 22, while Shanghai premiums remained at decade lows following the news that China plans to sell its copper reserves. US Midwest copper premium ticks up China announces details of plan to release 20,000 tonnes of copper into the spot market Spot Shanghai copper premiums stay depressed US copper demand...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.We spoke in our previous tracker of stainless steel prices ending 2020 on a high. That trend has continued during early 2021 and, in fact, the upward rally in prices has increased its momentum.Compared with the monthly price increase of some 5% seen at the end of 2020, prices for grade-304 stainless steel in al...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
A summary of China's ores and alloys exports for May 2021.In brief China's silico-manganese export market was active due to a combination of strong demand and tight supply in the global silico-manganese market. APT exports in May dropped amid a slow overseas market. Overseas buyers were cautious in buying the material once the price reached $270 per...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 23 that are worth another look.Swedish special steel producer Ovako is to collaborate with carmaker Volvo Group, Hitachi ABB Power Grids, H2 Green Steel and Nel Hydrogen to invest in hydrogen production at Hofors in Sweden, it has been announced.Read More
China is moving a step closer toward a national plan for the trading of carbon emission permits with the release of guidelines by the Shanghai Environment & Energy Exchange (SEEE) on Tuesday June 22.This follows decade-long pilot projects in several provinces and cities including Shanghai.The SEEE, China's first trading platform for environmental and energy sectors, will be the sole marketplace fo...Read More