Brazilian flat steel producers are poised to raise domestic prices by 10-18% in May, due to rising global steel and raw materials values, along with resilient local demand, market participants told Fastmarkets this week.Companhia Sider??rgica Nacional (CSN), the country's second-biggest flat steel producer, led the way when commercial executive director, Luis Martinez announced a 16-18% incre...Read More
Steel billet prices in Asia have jumped over the week to Friday April 30 on news that China will end import taxes for steelmaking raw materials, including semi-finished steel such as billets. "Many buyers increased their bids significantly this week because they were rushing to purchase billets ahead of the implementation of the new tax regime," a trader in east Asia said. Under the new import tax...Read More
While the whole London Metal Exchange base metals complex ended the month on solidly higher prices than at the start of April on a recent bullish streak, a dollar index at its highest in a week pushed down copper and aluminium prices at the close on Friday April 30. The dollar index reached 91.29 on Friday during afternoon trading, its highest since April 23 after bottoming at 90.42 on Thursday, r...Read More
The London Metal Exchange will announce the results of its discussion paper on market structure on or around June 8 and has not yet made any decisions on the whether to reopen the ring, it said. If the exchange decides to reopen the ring, which temporarily closed in March 2020 due to the Covid-19 pandemic, the earliest possible date would be the end of June, when social distancing criteria are exp...Read More
Global supply of refined zinc will exceed demand in 2021, widening the market surplus to 353,000 tonnes this year despite a global recovery in demand after the Covid-19 pandemic, the International Lead and Zinc Study Group (ILZSG) said.The ILZSG expects global demand for refined zinc metal to rise by 4.3% to 13.78 million tonnes in 2021 after it fell by 3.9% last year, it said on Friday April 30 i...Read More
Fastmarkets' benchmark copper concentrate treatment and refining charge (TC/RC) index rose for the third consecutive week on Friday April 30. At $26.90 per tonne / 2.69 cents per lb, the index has reached its highest level in a month and has rebounded from its record lows of $21.90 per tonne / 2.19 cents per lb on April 9. Smelter...Read More
While the whole London Metal Exchange base metals complex ended the month on solidly higher prices than at the start of April on a recent bullish streak, a dollar index at its highest in a week pushed down copper and aluminium prices at the close on Friday April 30. The dollar index reached 91.29 on Friday during afternoon trading, its highest since April 23 after bottoming at 90.42 on Thursday, r...Read More
A summary of the financial results for Chilean state-owned copper producer Codelco in the first quarter of 2021, as stated in its earnings report released on Friday April 30.In brief Copper output increased year-on-year during the quarter due to higher grades of mined ore and operational productivity, Codelco said. C1 cash costs (direct production costs) were cut by $0.003 per lb over January-Marc...Read More
A summary of Brazilian copper producer Paranapanema's financial results for the first quarter of 2021, as stated in its earnings report published on Thursday April 29.In briefCopper cathode sales volume growth and stronger copper prices on the London Metal Exchange drove net revenues significantly higher, the company said. Profit margins, on the other hand, were under...Read More
Prices of most aluminium scrap grades in the United States rose this past week, driven by high buying interest. Bullishness on mill-scrap material, aided by buoyant copper and silicon markets, translated to higher prices, according to sources.Fastmarkets assessed the buying prices for mixed low copper clips, delivered Midwest secondary smelters; mixed high copper clips, delivered Midwest seco...Read More
The UK Trade Remedies Investigations Directorate (TRID) is to review two existing European Union anti-dumping cases to determine if they are fit for purpose in a post-Brexit United Kingdom.The two cases in question relate to cold-rolled coil from China and Russia and into high fatigue performance (HFP) rebar from China, TRID said on Thursday April 29.The reviews will...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2021.In brief Turkey's biggest steel producer Erdemir Group produced 24% of Turkish crude steel in January-February 2021. The group's earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 262.53% in January-March 2021, because of strong demand for steel in Turkey and...Read More
Fastmarkets' benchmark copper concentrate treatment and refining charge (TC/RC) index rose for the third consecutive week on Friday April 30. At $26.90 per tonne / 2.69 cents per lb, the index has reached its highest level in a month and has rebounded from its record lows of $21.90 per tonne / 2.19 cents per lb on April 9. Smelter...Read More
The new five-stand tandem cold-rolling mill at Tatmetal ??elik in Turkey is now running at full capacity, Italian supplier Danieli said on Friday April 30.The new mill was installed in Eregli, northern Turkey, and linked to an existing continuous pickling line, Danieli said. The mill can produce high-strength strip...Read More
A summary of the financial results for Turkey's largest steelmaking group, Erdemir, for January-March 2021.In brief Turkey's biggest steel producer Erdemir Group produced 24% of Turkish crude steel in January-February 2021. The group's earnings before interest, taxes, depreciation and amortization (Ebitda) increased by 262.53% in January-March 2021, because of strong demand for steel in Turkey and...Read More
Trade unions at Liberty's Ostrava plant in the Czech Republic were considering further industrial action and even legal proceedings after news emerged that the plant's EU emissions allowances had been sold to another Liberty-owned steel mill in Romania, Fastmarkets heard on Friday April 30.On Friday, the OS KOVO trade union said that a substantial part of the emissions allowances for the Ostrava s...Read More
Export prices for Brazil-origin slab were up for the fourth consecutive week on Friday April 30, with strong demand and costlier raw materials resulting in higher offers to the United States.Fastmarkets assessed the price for steel slab export, fob main port Brazil at $900-920 per tonne on Friday, a $20-per-tonne increase from $880-900 per tonne a week earlier and a record high since Fastmarkets b...Read More
Domestic and imported steel beam prices in the United States rose on Thursday April 29, in line with recent mill price increase announcements due to rising demand and tightening supply.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US was $52.50 per hundredweight ($1,050 per short ton) on April 29, up 5% from $50 per cwt on March 25, and up 10.53% from $47.50 per cwt in Februa...Read More
Prices for cold-rolled and galvanized steel coil climbed to new records after market participants said there is hardly any spot material and the duration of the shortage likely will persist longer than buyers had feared.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US rose to $82 per hundredweight ($1,640 per short ton) on Thursday April 29 from $80 per cwt on April 22....Read More