Rebar producers in Egypt have increased their prices by another E ?400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets. Rebar producers in Egypt are now offering the product at E ?14,300,14,600 per tonne ex-works including 14% VAT, compared with E ?13,900-14,200 per tonne ex-works announced on May 7. The latest increase follows an earlier E ?400 per tonne increase...Read More
The steel rebar price in Russia's Central Federal district around Moscow continued to increase in the week to Monday May 17, backed by solid demand from end users as well as tight availability, sources told Fastmarkets. Russian producers were still holding back from making official offers for June on expectations of even more significant price rises, sources said. "Producers watch the market to un...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued climbing in the week to Monday May 17, supported by favorable conditions in the finished flat steel market both domestically and abroad.Hot-rolled sheet offers in Russia's domestic market reached 104,000 roubles ($1,404) per tonne cpt, including VAT, in the week to Monday, up from 99,000-104,000 roubles a week ea...Read More
Rebar producers in Egypt have increased their prices by another E ?400 ($25.50) per tonne with effect from Monday May 17, sources told Fastmarkets. Rebar producers in Egypt are now offering the product at E ?14,300,14,600 per tonne ex-works including 14% VAT, compared with E ?13,900-14,200 per tonne ex-works announced on May 7. The latest increase follows an earlier E ?400 per tonne increase...Read More
Brazil's apparent steel consumption in April was up by 95.70% compared with the same month in 2020 when the Covid-19 pandemic first took hold in the country, the country's national steelmaker association, Instituto A??o Brasil, said on Friday May 14.Instituto A??o Brasil said demand for steel plummeted in April 2020.Steel usage hit 2.23 million tonnes in April 2021, up from 1.14 million tonnes a y...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Molybdenum prices rose 15% during last week's trading when a combination of low inventories, steady consumption and high copper prices brought the already-limited production outlook into sharp focus. Would-be buyers found themselves caught short or with limited offers last week after a strong first quarter gave way to slower activity in April"I don't know how healthy this rally is, but I'd be feel...Read More
Major Chinese lithium producer Ganfeng Lithium has signed a memorandum of understanding with Argentina's Mining Ministry and Jujuy provincial state for the development of a lithium-ion battery factory in the north of the country, Argentina's government announced on Friday May 14.The parties also agreed to cooperate on identifying further opportunities to invest in the country's lithium sector. Arg...Read More
The bullish momentum on the London Metal Exchange resumed on Monday May 17, following a pullback at the end of last week, with lead and zinc leading and returning to prices they had hit one week earlier when most metals set new LME year-to-date peaks. At $3,014 per tonne on Monday at 5pm, LME zinc's three-month price had the largest increase from Friday's close of $2,938, which had been a 1.8% fal...Read More
Here are five Fastmarkets stories you might have missed on Monday May 17 that are worth another look.Brazilian domestic flat steel prices increased this month after steelmakers applied price increases of up to 17% to most distributors.Chinese corporations should increase their use of futures products to...Read More
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Recent weeks have largely been a repetition of the weeks leading up to our previous tracker in mid-April. A flurry of price increases have been announced, and largely obtained, by leading steelmakers in both Europe and the United States while buyers struggle to secure spot tonnages.Although steel output is rising in both reg...Read More
Key data from pricing session in London on Monday May 17Key drivers: Offers and bids below the previous range led to a fall in prices despite the fresh inquiries from China. Prices are yet to hit a level where...Read More
Brazil's apparent steel consumption in April was up by 95.70% compared with the same month in 2020 when the Covid-19 pandemic first took hold in the country, the country's national steelmaker association, Instituto A??o Brasil, said on Friday May 14.Instituto A??o Brasil said demand for steel plummeted in April 2020.Steel usage hit 2.23 million tonnes in April 2021, up from 1.14 million tonnes a y...Read More
Chinese corporations should increase their use of futures products to hedge against recent price spikes in major commodities across the world, an industry body has said. Rising procurement costs of raw materials have made the lives of small and medium enterprises tough, while higher prices of end products could lead to waning consumption, Ma Wensheng, vice chairman of China Futures Association sai...Read More
Export demand for European secondary aluminium-ingot 226 has risen sharply over the week to Friday May 15, while ADC 12 prices in Asia reach multi-year highs due to strong automotive demand and soaring scrap prices, sources told Fastmarkets.The global semiconductor chip shortage and subsequent halt in automotive manufacturing worldwide contributed to the eight-week fall in secondary aluminium 226...Read More
Third-quarter 2021 supplies of aluminium to main Japanese ports (MJPs) are on offer at a premium of $180-190 per tonne over the London Metal Exchange cash price, market participants told Fastmarkets on Monday May 17.The producer offer is 24.6% higher than the cif MJP premium for the second quarter, which settled at $148-149 per tonne.Third-quarter negotiations in 2020 were settled at $75-79 p...Read More
The first phase of Shandong Nanshan Aluminium's alumina project in Indonesia recently started trial production, sources told Fastmarkets on Monday May 17.The development of the alumina refinery is separated into two phases and will eventually have a total production capacity of 2 million tonnes per year, with 1 million tpy coming online in phase one and the rest in the project's second phase, whic...Read More