Steel wire rod producers in Poland were largely staying away from the market and holding back new offers, while secondary-market prices skyrocketed, pushed by limited supply, good demand and a general European uptrend, Fastmarkets heard on Friday May 14.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,250-3,400 zloty ($864-904) per tonne...Read More
Brazilian consumption of ferrous scrap has been higher in the first half of 2021 and is expected to maintain similar levels until the end of the year, Clineu Alvarenga, president of national ferrous scrap association Inesfa, told Fastmarkets on Thursday May 13.Long steel producers have their order books into the second half and positive prospects until December, Alvarenga said. Those steelmakers u...Read More
The pig iron export market in Brazil remained strong during the week to Friday May 14, but its growth was restricted by fluctuations in the price of iron ore, according to sources.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $590-610 per tonne on Friday, up $15-20 from $575-590 per tonne last week.Offers from the south of Brazil increased to $620-630 per...Read More
Prices for inter-merchant light iron scrap in the UK increased to a nine-year peak over the week ended Friday May 14, driven by tight supplies and strong domestic and export demand, sources have told Fastmarkets. Fastmarkets' latest price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?160-175 ($225-246) per tonne on Friday, compared with ?150-165 per...Read More
Turkish steel mills remained absent from the deep-sea market on Friday May 14 as a result of the post-Ramadan Eid al-Fitr holiday, sources told Fastmarkets.Turkey began the religious holiday on the afternoon of May 12 and it will continue until May 15, with market activity expected to resume on Monday May 17.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Tu...Read More
Prices for shredded steel scrap imported into South Asia jumped in the week to Friday May 14 following a large increase on the international scrap market, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $510.55 per tonne on Friday, up from $478.96 per tonne one week earlier.Just one deal was heard at $510 per tonne this...Read More
Iron ore prices fell sharply on Friday May 14 amid concerns over weakened steel demand, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $208.79 per tonne, down by $28.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $211.19 per tonne, down by $28.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $179.29 per tonne, down by $27.93 per tonne65% Fe Brazil-origin fines, cf...Read More
Base metals, with the exception of tin and zinc, registered an increase in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday May 14, with lead up the most in percentage terms, at 22%.Lead stocks totaled 77,220 tonnes on Friday, up by 13,899 tonnes from 63,321 tonnes a week ago. The largest inflow was at Zhejiang Tianchuan warehouse, Zhejiang province, where v...Read More
Seaborne coking coal prices surged up in both the cfr and fob markets on Friday May 14 due to increased buying interest and positive market sentiment in both markets. Prices for seaborne pulverized coal injection (PCI) material continued to increase in the cfr market in the week to May 14, due to persistent supply tightness and relatively good demand, but remained largely stable in the fob market...Read More
China's domestic rebar prices tumbled further on Friday May 14 amid falling futures and weaker demand, shedding some of Monday's big gains. Prices in eastern China ended the week 350-360 yuan per tonne higher while those in the north are up by 630-640 yuan per tonne week on week.DomesticEastern China (Shanghai): 5,780-5,800 yuan ($896-900) per tonne, down by 120-130 yuan per tonneNorthern China (B...Read More
Copper dipped to its lowest price in a week during morning trading on Friday May 14, with aluminium also continuing to soften, while a slowdown in China's economic stimulus has dampened the bullish sentiment seen earlier in the week.The three-month copper price was at $10,245 per tonne at 9am on Friday, down from $10,342 per tonne at the close on Thursday. After hitting an all-time high of $10,767...Read More
Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.Asia-Pacific equities rebounded on Friday US treasury yields eased as United States Federal Reserve officials stuck to their view that inflationary pressures will be transitoryMetals could final...Read More
China's alumina prices increased this week in a more bullish market following the strong showing for aluminium on the Shanghai Futures Exchange.Fastmarkets' weekly price assessment for alumina metallurgical grade, exw China was 2,360-2,370 yuan ($366-367) per tonne on Thursday, up 10-20 yuan per tonne from 2,340-2,360 yuan last week."The aluminium price was...Read More
Africa-origin copper shipments were facing delays as long as two months amid a lack of vessel space and increased numbers of stoppages of port operations, industry sources told Fastmarkets on Friday May 14.Three sources with copper shipments departing Zambia and Democratic Republic of Congo said that the arrival dates of their cargoes at destinations across Asia and Europe have been postponed from...Read More
An overview of the aerospace materials markets and the latest price moves.Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
London-based investment firm Appian Capital Advisory is selling the mining royalty for the Chilean Caserones copper mine to Nomad Royalty, a Canadian-based gold mining company, it said on Friday May 14. "The royalty interest is highly cash generative and represents an effective 0.28% net smelter return royalty over the Caserones mine in Atacama, Chile, owned by Minera Lumina Copper Chile," Appian...Read More
Copper's price on the London Metal Exchange ended the week lower despite hitting an all-time record high on Monday May 10, with the rest of the complex was also down on the week despite slight rises day on day on Friday. The three-month copper price was down at $10,240 per tonne on Friday May 14 at the close, which is some 1% lower than Thursday's 5pm price of $10,342 per tonne. Copper traded at...Read More
Primary aluminium foundry alloy (PFA) premiums in Europe and the United States remained well-supported at historical high levels on Friday May 14.Premiums for PFA in Europe were little changed month-on-month at an all-time high, underpinned by expensive regional upstream P1020 premiums.Fastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Eastern Europe, at $440-50...Read More
Fastmarkets' copper concentrates treatment charge/refining charge (TC/RC) index rose marginally in the week to May 14.Deals to smelters were reported in the mid $30s per tonne while bids came in at the high $30s to low $40s, with major Chinese smelters still carrying out...Read More