The export price for pig iron from the south of Brazil increased again in the week to Friday May 21, on continuing strong demand and long lead times, with suppliers said to be sold out until late August.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $610-620 per tonne on Friday, up from $590-610 per tonne last week.Offers from the south of Brazil came in at...Read More
The price of 18/8 (grade-304) stainless steel scrap in the United Kingdom was substantially lower during the week to Friday May 21 amid volatile nickel costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK was ?1,130-1,180 ($1,598-1,669) per tonne on Friday, down ?50-60 from ?1,180-1,240 per tonne a week...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
An overview of the aerospace materials markets and the latest price moves.Ewa Manthey and Michael Greenfield in...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
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
The Chilean Copper Commission, Cochilco, raised its average price forecast for this year to $4.30 per lb on May 19, given an expected deficit of refined copper for the 2021-2022 period, it said.Cochilco revised the price up from a prediction of $3.30 per lb in January 2021, with its executive vice president Marco Riveros citing the global deficit together with reduced inventories in metal exchange...Read More
The export market for pig iron from the Commonwealth of Independent States rose further in the week to Thursday May 20 on new sales and bullish offers from suppliers despite an absence of large sales and even while additional volumes appeared in the market. Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $635-655 per tonne on Thursday, up fr...Read More
Iron ore prices plunged on Friday May 21 amid thin liquidity on both the seaborne front and at the Chinese ports, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $200.72 per tonne, down $11.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.06 per tonne, down $11.01 per tonne58% Fe fines high-grade premium, cfr Qingdao: $172.75 per tonne, down $8.06 per tonne65% Fe Brazil...Read More
All metals except for zinc and aluminium fell from their recent psychological levels on the morning of Friday May 21, with selling on the London Metal Exchange still present while macroeconomic headwinds continue to affect the complex.Copper's three-month price was down to $9,970 per tonne on Friday at 9am from Thursday's close at $10,048 per tonne, which had been a slight $40 rebound on the previ...Read More
A significant rise in the LME lead price on Thursday May 20, was the outlier in the base metals complex, with its peers having a mixed day following Wednesday's selling session.Lead's three-month price was up by 1.95% at the close on Thursday to $2,217 per tonne, from $2,174.50 per tonne at 5pm on Wednesday, which was the biggest rise on the day and in stark contrast with the rest of the base meta...Read More
Japan's third-quarter aluminium quarterly benchmark looks likely to cross another six-year high after offers were heard at $180-190 per tonne earlier this week, primarily supported by the open Chinese arbitrage window.The arbitrage window to ship aluminium to China has been widening since it opened on April 29, with Chinese importers standing to gain a profit of $63.59 per tonne on May 20 for ever...Read More
Production cuts recently announced by world-leading silicon supplier Ferroglobe as part of it restructuring plan have triggered supply concerns among some market participants, with consumers increasingly eyeing China to meet demand needs."The supply in Europe going to be very tight," an industry source told Fastmarkets. "With all the production cuts, good levels of demand and lack of new projects...Read More
The battery-grade lithium hydroxide price in the seaborne Asian market has been mostly at parity with its peer in the domestic Chinese market during May, with the former closely tracking the latter amid overall tight spot availability in the region. Fastmarkets' price assessment of the lithium hydroxide monohydrate 56.5% LiOH.H2O min, battery grade, spot price cif China, Japan & Korea edged h...Read More
London Metal Exchange base metals prices sold off in end-of-week trading on Friday May 21, with copper, nickel and aluminium closing at their lowest levels since April. Three-month copper futures closed at $9,881.50 per tonne at 5pm, down $166.50 (1.7%) against yesterday's close. Importantly, the red metal finished the week below the symbolic $10,000 per tonne, coming as the physical market for re...Read More
Deliverable stocks for most base metals - bar lead - in Shanghai Futures Exchange-registered warehouse fell in the week to Friday May 21, with tin recording the highest decrease in percentage terms. Tin stocks totaled 6,024 tonnes this week, down by 943 tonnes (13.5%) from 6,967 tonnes a week before. The largest outflow was from 830 Huangpu warehouse in Guangdong province, where volumes were down...Read More
Iron ore prices plunged on Friday May 21 amid thin liquidity on both the seaborne front and at the Chinese ports, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $200.72 per tonne, down $11.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $203.06 per tonne, down $11.01 per tonne58% Fe fines high-grade premium, cfr Qingdao: $172.75 per tonne, down $8.06 per tonne65% Fe Brazil...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
Key data from Fastmarkets' pricing sessions in Europe, the United States and China on Friday May 21.China The ferro-silicon market turned bullish amid booming demand from the steel sector, with China gradually shifting from iron ore to steel scrap steelmaking under its strict environmental protection measures and in a bid to reduce carbon emissions. Ferro-silicon is used as a warming agent in the...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