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
German steelmakers settled their monthly steel scrap contracts for June at substantially higher prices due to the current tight supply, sources told Fastmarkets on Friday June 11.Fastmarkets' monthly price assessment for steel scrap, E8 thin new production steel, domestic, delivered consumer, Germany, was ?,?460-500 ($560-609) per tonne on June 11, up by ?,?50-80 per tonne from ?,?410-420 per tonn...Read More
The market for pig iron exports from Brazil was quiet but firm during the week to Friday June 11.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620 per tonne on Friday, stable week on week.No new sales were reported from the...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
The European Commission (EC) will extend the existing safeguard measures on 26 steel products imported into the European Union by three years, market sources told Fastmarkets on Friday June 11.Quota volumes for all 26 steel products will increase by 3% year on year - lower than the 5% rise expected by market participants.The draft document of the adjusted measures was released to member states on...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Ewa Manthey, Charlotte...Read More
The price of stainless steel flat products in Europe surged during the week to Friday June 11 because of an acute supply shortage, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 transaction domestic, delivered North Europe was ?,?3,350-3,400 ($4,077-4,138) per tonne on Friday, up ?,?200 from ?,?3,150-3,200 per tonne a week ear...Read More
Zinc and lead made the biggest gains on June 11 morning amid a low dollar index following the inflation readings released on Thursday and comments from trading house Trafigura lending support to all metals at the end of the week. LME three-month zinc hit $3,040 per tonne on Friday at 9am, from $2,995 per tonne at Thursday's close, while LME three-month lead was back above the $2,200-per-tonne psyc...Read More
Fastmarkets' Ferrous Analytics report helps subscribers keep track of hot metal costs and steel production spreads in China, along with key pricing components of the steelmaking raw materials supply chain in Asia. Read More
Domestic prices for hot-rolled coil were fairly stable in Europe on Friday June 11 despite slower demand and a weakening of import prices, sources told Fastmarkets.The domestic prices were supported by good order books at EU mills. Producers in Northern Europe were heard selling fourth-quarter-rolling material, although Italian mills were still able to offer volumes for shipment at the end of the...Read More
Volatility persisted in the South American flat-rolled steel market as import prices mostly decreased during the week to Friday June 11 after rebounding the previous week.Importers told Fastmarkets concerns about new changes to Chinese taxes and a lack of visibility about which trend prices would follow were resulting in less quoting and orders.Most sources said during the week they were expecting...Read More
Brazilian slab export prices were stable this week, with most buyers taking a step back and waiting for more definition in the market.Fastmarkets assessed the price for steel slab export, fob main port Brazil unchanged at $980-1,000 per tonne on Friday June 11.Offers to the United States were sustained at $1,000 per tonne fob, but no deal was reported.Despite the hesitancy, the market in the...Read More
An overview of the aerospace materials markets and the latest price moves.Charlotte Radford and Michael Greenfield in...Read More
Seaborne coking coal prices were largely stable in cfr market on Friday June 11 amid low trading activity in North American coking coal cargoes. The fob market rose because of continuous buying interest for July-laycan cargoes from Australia, market sources said.Prices for seaborne pulverized coal injection (PCI) surged upward in the cfr market in the week to June 11 due to continuing supply tight...Read More
Turkish steel producers made no deep-sea scrap bookings on Friday June 11, after deals were heard earlier this week at increasing prices, market participants said.Steel mills in Turkey booked at least five deep-sea cargoes earlier this week in response to the recent recoveries in the domestic and export rebar markets.A steel mill in the Iskenderun region booked a Canadian cargo comprising 9,500 to...Read More
Prices of shredded steel scrap imported into India and Pakistan have risen following fresh purchases on the market, sources told Fastmarkets on Friday June 11.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India was $516.47 per tonne, down from $520.54 per tonne on June 8, but up week on week from $509.50 per tonne on June 4.Three deals were heard at $515 per tonne in the...Read More
Pig iron import prices in the United States increased in the week to Friday June 11, on reports of a fresh booking from Russia, sources told Fastmarkets.Russian pig iron was sold to a US distributor at $672 per tonne cfr, which is about $7 per tonne above the cost of CIS-origin pig iron booked in late May-early June, sources said.Fastmarkets' price assessment for pig iron,...Read More
Hopes were high on Friday June 11 that global scrap prices were rebounding, with China looking to import steel billet again amid rising prices in its domestic steel market. Turkish steel mills were also purchasing import cargoes again.Turkey returns to spot marketUS West Coast sells to Bangladesh at $15 per tonne decreaseTaiwanese buyers fail to secure cheaper materialsChina sees price uptick as w...Read More
Prices for inter-merchant light iron scrap in the United Kingdom were stable for the third consecutive week on Friday June 11, supported by firm fundamentals and with suppliers negotiating monthly delivery settlements into domestic steelmakers, trade sources told Fastmarkets.British scrap supplies into yards have been tight in recent months amid reduced scrap arisings from depressed car production...Read More
Lithium prices were steady around the world in the week ended Thursday June 10, with both Asian, European and United States markets underpinned by tight availability.Battery-grade lithium hydroxide prices in Asia were steady in active markets with consumers focused on securing materials. The battery-grade lithium carbonate price range in China stayed intact with some cheap technical-grade units di...Read More