An overview of the aerospace materials markets and the latest price moves.Ewa Manthey and Michael Greenfield in...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 20 that are worth another look.The iron ore market price has broken several records in 2021, with sky high prices for various iron-ore brands emerging even before the half-year mark - such as the iron ore 62% Fe index surpassing $200 per...Read More
Turkish steel scrap import prices have so far held firm despite a sharp drop in China's steel and scrap markets this week.Soaring billet and rebar prices in Asia were factors in allowing Turkish import scrap prices to rise earlier this month, but despite a large downturn in many Asian ferrous markets this week - including China and Taiwan - Turkish scrap prices have so far been undeterred. Turkey...Read More
Base metals prices on the London Metal Exchange were mainly stronger this morning, Thursday May 20, on dip buying, while those on the Shanghai Futures Exchange were down across the board in reaction to the 3.5% average loss on the LME on Wednesday. China's rhetoric on its determination to wrestle inflationary pressures in commodities triggered weakness in the metals. Base metals LME three-month ba...Read More
Automotive manufacturer Ford Motor Co and South Korean energy conglomerate SK Innovation have signed a memorandum of understanding to create a joint venture to manufacture battery cells and energy storage arrays for electric vehicles (EVs) in the United States, Ford said.The venture, to be called BlueOvalSK, will produce roughly 60 gigawatt hours (GWh) annually starting mid-decade, with the potent...Read More
Prices for shredded steel scrap into India and Pakistan continued to rise in the week to Friday May 21, despite a souring of market sentiment, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $517.88 per tonne on Friday, up from$510.55 per tonne one week earlier.One deal was heard at $515 per tonne this week, compared with a...Read More
Prices for inter-merchant light iron scrap in the United Kingdom increased to as much as ?180 ($254) per tonne over the week ended Friday May 21, a level last seen in April 2012, on firm fundamentals that have encouraged higher offer prices. Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?170-180 ($240-255) per tonne on Friday,...Read More
Chinese nickel products provider Lygend Mining has started its first production of mixed hydroxide precipitate (MHP) in Indonesia successfully, the company said on May 19, 2021.Lygend's MHP production project is the first high-pressure acid leach (HPAL) project to reach production in Indonesia, Fastmarkets understands.Both Lygend Mining and its Indonesian partner Harita Group operate the project,...Read More
Turkish steel scrap import prices have so far held firm despite a sharp drop in China's steel and scrap markets this week.Soaring billet and rebar prices in Asia were factors in allowing Turkish import scrap prices to rise earlier this month, but despite a large downturn in many Asian ferrous markets this week - including China and Taiwan - Turkish scrap prices have so far been undeterred. Turkey...Read More
A summary of China's base metal imports for April 2021. Copper ore and concentrate April total: 1.92 million tonnes, down by 11.5% month on month, down by 4.8% year on year Refined copper April total: 319,135 tonnes, down by 10.1% month on month, up by 10.9% year on year Copper scrap April total: 167,767 tonnes, down by 2.5% month on month, up by...Read More
China's domestic rebar prices paused their downward trend on stronger demand on Friday May 21, but eastern prices ended the week 650-680 yuan ($101-106) per tonne lower week on week.DomesticEastern China (Shanghai): 5,100-5,150 yuan ($793-800) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,400-5,450 yuan per tonne, down by 730-750 yuan per tonneConstruction sites in China raised...Read More
The export price for CIS-origin steel billet rose by 1.16% day on day on Friday May 21 after sellers switched to nearer markets such as Africa and Turkey in the absence of Chinese customers. Interest for imported billet in China remained non-existent amid falling semi-finished and finished long steel prices domestically. This diminishing demand had caused the billet price to fall in every pri...Read More
Import billet activity into China ground to a halt in recent days amid falling finished steel prices in the country, while buying in the Philippines also trailed off by the end of the week, sources told Fastmarkets.The past seven days have been something of a role-reversal in the steel billet markets, with Philippine buyers being willing to pay above importers in China - the opposite pattern to th...Read More
Prices for steel rebar and billet in Egypt continued to increase in the week to Thursday May 20, with demand beginning to improve after the government further eased its ban on construction in the country, sources told Fastmarkets.The Egyptian Ministry of Local Development is running a trial program allowing new building permits to be issued in 27 cities until June 30 as a trial, before extending t...Read More
Prices for shredded steel scrap into India and Pakistan continued to rise in the week to Friday May 21, despite a souring of market sentiment, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $517.88 per tonne on Friday, up from$510.55 per tonne one week earlier.One deal was heard at $515 per tonne this week, compared with a...Read More
Import prices for flat-rolled steel had no clear trend in South America during the week ended Friday May 21 amid lower Chinese offers and buyers accepting higher prices from other origins, market participants said.Fastmarkets' assessment for steel plate import, cfr main ports South America, was $1,100-1,140 per tonne on Friday, up by $60-100 from $1,000-1,080 per tonne a week earlier.While some Ch...Read More
Indian mills increased domestic hot-rolled coil prices by 1,000-1,750 rupees ($14-24) per tonne this past week amid continued gains in international prices for the commodity.Fastmarkets' price assessment for steel HRC, domestic ex-warehouse India widened upward by 1,000 rupees to 63,500-68,000 rupees per tonne on Friday May 21 from 63,500-67,000 rupees per tonne the previous week. ....Read More
Hot-dipped galvanized coil prices in Turkey increased during the week to Friday May 21 while demand was strong, sources told Fastmarkets.Demand was strong in the domestic and export markets, with several deals heard during the week, Fastmarkets was told.HDG prices continued their uptrend in Europe, one of the biggest export markets for Turkish HDG, sources said.The price increases were moderate du...Read More
Domestic prices for steel wire rod in Poland surged during the week to Friday May 21 on short supply and increased feedstock costs, with an uptrend expected to persist in the short-term, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 3,650-3,700 zloty ($988-1,001) per tonne on Friday, up 300-400 zloty from 3,250-3,...Read More
Poland rebar producers were largely holding back on offering and taking a wait-and-see stance amid an unprecedented price surge, while secondary market prices continued rising on support from strong demand, limited supply and increased scrap costs, sources told Fastmarkets on Friday May 21.Local mills had reportedly withdrawn their rebar offers this week and are expected to come back next week, ma...Read More