Strong demand from the Chinese automotive industry, combined with rising aluminium scrap values, pushed aluminium ingot ADC 12 prices to a record high this week.ADC 12 is widely used in the production of alloy wheels.Fastmarkets' weekly price assessment for aluminium ingot ADC12, exw dp China was 19,000-19,300 yuan($2,947-2,993) per tonne on Wednesday May 12, up 5.8% or 1,000-1,300 yuan per...Read More
Export prices for Chinese stainless steel increased sharply on Wednesday May 12 due to the the removal of China's 13% export rebate and the rising nickel prices on the London Metal Exchange.The LME three-month nickel contract ended the official trading session on Wednesday at $17,942 per tonne, up by $680 per tonne from $17,262 per tonne on April 28.DomesticStainless steel cold-rolled coil 2mm gra...Read More
Italian domestic steel scrap prices increased substantially in the month to Thursday May 12 on support from limited availability of some grades of material and rising international prices, market sources told Fastmarkets.Market sources said that the shortage of semiconductor chips has had a negative effect on car manufacturing and, as a result, new scrap availability.In addition, scrap suppliers w...Read More
Commodity trading company Traxys has renewed a $1.33 billion revolving credit facility with 26 lenders, it said on Monday May 10, dating the completion of the deal as May 4.Lead arrangers were Rabobank, Deutsche Bank, ING, Soci?(C)t?(C) G?(C)n?(C)rale, Natixis...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 12.Please click...Read More
Futures prices on the London Metal Exchange were down across the board at the close of trading on Wednesday May 12, after higher-than-expected inflation indicators in the United States pushed the dollar up to its highest figure this week.Lead was the metal most badly affected by the inflation numbers released earlier on Wednesday, with its price down by 1.6% to $2,187 per tonne, from $2,222 per to...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
The UG2 chrome ore market ticked up for the first time since March of this year in response to increased buyer interest over the week to Tuesday May 11, sources said.Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China price assessment was $150 per tonne on May 11, a rise of $1 (0.67%) from $149 per tonne a week earlier."The number of inquiries we received was the highe...Read More
The government of the Democratic Republic of Congo (DRC) has approved a draft inter-ministerial decree relating to the development of the Manono lithium and tin project by Australian miner AVZ, the company announced on Monday May 10.The draft decree relates to an earlier draft cooperation agreement between the government and AVZ. This would involve setting up a special economic zone for the Manono...Read More
The prices paid for deep-sea scrap cargoes by Turkish steel mills continued to rise in the wake of recent changes in Chinese tax policy that have seen billet and long steel demand increase, Fastmarkets heard on Wednesday May 12.A mill in the Izmir region booked a cargo from the UK comprising 6,000 tonnes of HMS 1&2 (80:20) at $499 per tonne and 18,000 tonnes of shredded scrap at $519 per tonne.A m...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More
Exports of ferrous materials from India could become more logistically challenging in the coming weeks while the country battles the Covid-19 pandemic, market participants have told Fastmarkets.The worst may still be to come for steel exports out of Covid-hit eastern India, sources said, because of a lack of available stevedores, forces majeures at ports and reduced steel output at certain plants....Read More
Base metals prices on the London Metal Exchange were little changed and consolidating this morning, Wednesday May 12, this after some choppy trading in recent days.Traders wary of contagion from weaker equity markets Asia-Pacific equities mainly weaker, especially in Taiwan Markets focused on Wednesday's Consumer Price Index (CPI) data from United States Base metalsLME three-month base metals pric...Read More
Domestic prices for European heavy steel plate increased further in the week to Wednesday May 12, supported by good demand and material availability becoming limited, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?980-1,020 ($1,191-1,239) per tonne on May 12, up by ?,?30-40 per tonne week on week from ?,?950-980 per tonne.T...Read More
Domestic prices for hot-rolled coil continued to rise across Europe on Wednesday May 12, with producers having few volumes to offer in the spot market and there being a lack of import alternatives, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,058.13 ($1,285.71) per tonne on May 12, up by ?,?15.63 per tonne from ?,?1,0...Read More
ArcelorMittal has increased its official offer prices for all coil products across Europe by ?,?50 ($61) per tonne, sources told Fastmarkets on Wednesday May 12. This will be the sixth consecutive week that ArcelorMittal Europe has increased its coil offer prices. Its new offers for HRC have now reached ?,?1,100 per tonne ex-works, while prices for downstream flat steel products - cold-rolled and...Read More
Prices for steel hollow sections in Europe continued to rise on Wednesday May 12, with the rise in feedstock material costs showing no sign of slowing, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,190-1,220 per tonne ($1,446-1,482) per tonne on May 12, up from ?,?1,120-1,190 per tonne on May 5."I had thought...Read More
Prices for steel wire rod in the north of Europe have jumped upward over the past week, backed by limited domestic supply, costlier scrap and increased offers from overseas suppliers, Fastmarkets heard on Wednesday May 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?720-750 ($875-911) per tonne on Wednesday, up from ?,?670-690...Read More