Prices for steel scrap imported into China were unchanged on Tuesday June 8 amid scarce spot market activity.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $510-530 per tonne on Tuesday, unchanged from a day earlier.No new bids were heard on Tuesday, with the latest bid coming in on Mond...Read More
A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays in southern China.YICT is one of China's busiest container ports, handling around 13 million twenty-foot equivalent units (TEU) each year, according to The Maritime Executive news website.Althoug...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
Domestic prices for hot-rolled coil were mostly stable across Europe on Tuesday June 8, on support from a continuing shortage of material, sources told Fastmarkets.The availability of domestic HRC has remained tight but lead times are no longer being extended, sources told Fastmarkets.Buyers have also been cautious about making new deals in fear of being left with stocks of high-priced coil if pri...Read More
Tin was the best performer on the London Metal Exchange on June 8 due to its constrained global supply situation being set to worsen amid disruption from MSC, while the rest of the complex finished positively on afternoon US trade despite a broader consolidation.LME tin's three-month price closed at $31,223 per tonne on Tuesday, jumping up by 2.3% from Monday's closing price of $30,525 per tonne,...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 London Metal Exchange will enhance its off-warrant stock reporting, including limiting the warranting of metal that has not previously been disclosed in off-warrant stock reports, the exchange said on Tuesday June 8.The responses to the LME's discussion paper were generally supportive of the exchange taking a greater physical market role with respect to the off-warrant stock report, the LME sa...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
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Steel billet producers in the Commonwealth of Independent States have kept their offer prices unchanged despite limited trading activity, Fastmarkets heard on Tuesday June 8.There was market chatter about a sale of Ukraine-origin billet to the Philippines at $635-640 per tonne fob (about $695-700 per tonne cfr) this week, but no details were released by the time of publication.A bid for billet fro...Read More
Mexican ferrous scrap prices continued to increase during the week ended Friday June 4, with demand for steel and raw materials remaining strong.Some scrap buyers accepted price adjustments to their buying prices for certain grades, with sellers using higher-priced deals to leverage negotiations with buyers who insisted on lower prices. As a result, more deals were reported at higher lev...Read More
Strong demand and tight supply supported aluminium premiums at recent multi-year highs across the globe on Tuesday June 8, although levels for those in South Korea were unchanged for two months.End-user interest and insufficient supply offset London Metal Exchange backwardation in Rotterdam Japanese premium holds at two-year high on fresh deals South Korea stable for eight weeks amid little market...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
The current upward momentum in pricing in the steel market should continue in the third quarter with support from short supply and solid demand, buoying an already optimistic market, the International Rebar Producers & Exporters Association (Irepas) said on June 4.EuropeRebar prices reached new highs during the second quarter of 2021 on support from long lead times, strong demand and limited impor...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Brazilian vehicle production rose by 348% in May 2021, compared with the corresponding period last year, when the Covid-19 pandemic led to several plant closures and resulted in output plummeting, national carmakers' association Anfavea said on Tuesday June 8.The country produced 192,843 units last month, significantly up from 43,080 units in May 2020. The May volume also represented a 1.01% incre...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...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
Hot-rolled coil import prices to the United Arab Emirates and Saudi Arabia were mostly stable during the week to Tuesday June 8, but cold-rolled coil prices decreased and the hot-dipped galvanized coil import price spreads to the UAE widened, sources told Fastmarkets.The main reason for the decrease in CRC prices was low prices from China, market participants said.Fastmarkets' weekly price assessm...Read More
Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More