Latin American steel industry group Alacero has a new general director with the departure of Francisco Leal and the appointment of Alejandro Wagner to the role, the association told its members on Tuesday June 1.Wagner is an industrial engineer with 15 years of experience in both the private and public sectors. He was most recently business manager at steelmaker Ternium,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 2 that are worth another look.Recent weakness in Chinese export hot-rolled coil prices are likely to have minimal impact on prices in Turkey and the Commonwealth of Independent States - major flat steel suppliers - at least in the short term,...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 2.Please click...Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view, including an upgrade to our aluminium price forecasts.Aluminium: Price forecasts raisedWe correctly expected the macro reflationary theme to raise the prices for all base metals but, with it being the base metal with by far the weakest fundamentals, we had expected the price of aluminium to underperform relative...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 2 that are worth another look.Recent weakness in Chinese export hot-rolled coil prices are likely to have minimal impact on prices in Turkey and the Commonwealth of Independent States - major flat steel suppliers - at least in the short term,...Read More
Iron ore physical prices rose on Wednesday June 2, while low-grade fines increased on buying interest from Chinese steel mills, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $209.19 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $211.50 per tonne, up $0.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $182.30 per tonne, up $1.30 per tonne65% Fe B...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 2.Please click...Read More
Nickel and zinc's three-month prices were the main metals to register small rises on June 2, while aluminium and copper futures contracts fell on a day of low volumes on the London Metal Exchange with the complex still finding its direction following a strong end to May. LME nickel's three-month price rose slightly to $18,236 per tonne on Wednesday from $18,130 per tonne on Tuesday, despite hittin...Read More
Chilean copper output fell 1.98% in April, compared to the same month of 2020, due to volume decreases from major producers like Codelco, Escondida and Los Pelambres, according to data published by the country's copper commission, Cochilco, on Wednesday June 2.The country produced 461,200 tonnes of copper in April, down from 470,500 tonnes a year before. Production also fell 5.63% from 488,700 ton...Read More
The UG2 chrome ore market rose in the week ended Tuesday June 1 after buyers' confidence was buoyed following the higher-than-expected ferro-chrome tender prices for June, while cost pressure continued to support producers' offer prices. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China rose by $2 per tonne (1.3%) to $157 per tonne on Tuesday, from $155 per tonn...Read More
Fastmarkets has decided to revise the outlier detection method used in the calculation of its copper concentrate treatment and refining charge (TC/RC) index. Following a one-month consultation, Fastmarkets will proceed to revise the outlier detection method used in the calculation of its copper concentrate TC/RC index to reflect spot market changes. Changes will take effect on Friday June 4. The p...Read More
Key data from the pricing session in London on Wednesday June 2. Key drivers Market participants agree that demand is picking up in both Europe and Asia although this has yet to translate into a price increase and units...Read More
Turkish steel mills remained largely silent in the deep-sea scrap import markets due to continued sluggish finished steel demand in both domestic and export outlets, market participants told Fastmarkets on Wednesday June 2. Turkish steelmakers have been focusing on finished steel sales in the recent weeks in lieu of demand in Asia, while customers in the domestic market have been struggling with h...Read More
A large gap between bids and offers ensured that only limited business took place in the Japan steel scrap export market over the past week, sources said on Wednesday June 2.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?46,000-48,000 ($420-438) per tonne on Wednesday, down from ?47,000-48,500 per tonne one week earlier.Japanese H2 was heard sold to a South K...Read More
Import prices for steel scrap inched up amid slightly firmer prices for finished steel products on Wednesday June 2.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $500-515 per tonne on Wednesday, widening upward by $5 from $500-10 per tonne on Tuesday.The most-traded rebar and hot-rolled...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday June 2 - zinc and tin prices were up on both exchanges and were looking robust, while the others have lost recent upward momentum. Brent crude oil is back above $70 per barrel, the highest it has been for two years. Tuesday's manufacturing purchasing managers' index (PMI) data for...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
Domestic prices for European heavy steel plate were unchanged over the week to Wednesday June 2, due to holidays in a number of EU countries, sources have told Fastmarkets.Sentiment in the market remained positive, however, and demand was expected to recover next week, market sources said."Demand is fine. I think we will see it improving further due to [the emergence of new] projects and long-term...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 2 that are worth another look.Recent weakness in Chinese export hot-rolled coil prices are likely to have minimal impact on prices in Turkey and the Commonwealth of Independent States - major flat steel suppliers - at least in the short term,...Read More