Aluminium's futures price reached yet another year-to-date high on the London Metal Exchange on Wednesday April 14, while tin returned above the $26,000 per tonne mark and copper bounced up by 2% on a day when most metal prices were again boosted by a lower US dollar.Aluminium's price peaked at $2,329 per tonne during trading on Wednesday, and closed up by 1.3% at $2,323.50 per tonne, from Tuesday...Read More
The London Metal Exchange three-month aluminium price reached a new year-to-date high on Wednesday April 14 morning, while the rest of the complex was trending higher on support from a lower US dollar index.LME aluminium's price reached $2,322 per tonne around 9:30am on higher volumes, trading over 4,500 lots by that time, that surpassed copper, which was trading around 3,800 lots. This is th...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday April 14, and broader markets were pleased US consumer prices did not shock to the upside, but markets are likely to remain wary in case corporate earnings do not live up to high expectations.Tuesday's US consumer price index (CPI) reading climbed by 0.6% in March, slightly higher than...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? There is no end in sight to the shortfall in flat steel supply that has characterized US markets in early 2021, and we expect record-high US pricing for hot-rolled coil to persist through the second quarter of 2021 and into the second half of the year. We are fo...Read More
Domestic prices for steel wire rod in Southern Europe were largely unchanged over the past week, although producers were reported to be mulling an increase for May, Fastmarkets heard on Wednesday April 14.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?660-670 ($787-798) per tonne on Wednesday, unchanged since March 31.The assessm...Read More
Aluminium's futures price reached yet another year-to-date high on the London Metal Exchange on Wednesday April 14, while tin returned above the $26,000 per tonne mark and copper bounced up by 2% on a day when most metal prices were again boosted by a lower US dollar.Aluminium's price peaked at $2,329 per tonne during trading on Wednesday, and closed up by 1.3% at $2,323.50 per tonne, from Tuesday...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 14. Please click...Read More
The copper industry is keeping a close eye on labor negotiations at Chile's mines this year, at a time of increased prices, sociopolitical uncertainty and delayed concentrates shipments. The table below provides a summary of the labor union negotiations...Read More
Chile's copper miners face the biggest set of labor negotiations in years, but with prices expected to maintain current highs, how high is the risk to output disruptions? Fastmarkets investigates.More than 40 labor negotiations are due to take place this year at mines in Chile, the world's leading copper producer, against a backdrop of almost decade-high metal prices and elections set to be hotly...Read More
The falling London Metal Exchange zinc price boosted spot demand for zinc ingot in both Europe and the United States in the week to Tuesday April 13, while lead premiums in Southeast Asia were up on recovering demand. The LME three-month zinc price fell to $2,758 per tonne on Monday at the close, renewing interest for spot demand. Zinc demand remains strong in the US despite automotive outpu...Read More
Copper cathode premiums have taken a dive in the main market in China, where buyers are able to pick up units at low levels that were last traded in late November 2020, sources told Fastmarkets.Shanghai premiums drop to four-month lowSoutheast Asia copper premiums stableUnited States' copper premiums unmovedChina's copper import premiums collapse on sustained arbitrage lossPremiums for imported gr...Read More
Steelmaker ArcelorMittal has completed an investment agreement with Invitalia, an Italian state-owned company, forming a public-private partnership between the two parties, the steelmaker said on Wednesday April 14.The joint company AM InvestCo Italy will be renamed Acciaierie d'Italia Holding, and its main operating subsidiary, ArcelorMittal Italia, will be renamed Acciaierie d'Italia.Invitalia h...Read More
Prices for steel hollow sections in Europe jumped on Wednesday April 14 due to mills passing on soaring feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?950-1,050 ($1132- 1,251)per tonne on April 14, up from ?,?920-950 per tonne one week previous.The ongoing shortage of hot-rolled coil (HRC) - the feedst...Read More
Steel rebar prices is the north of Europe were flat in the week to Wednesday April 14, despite subdued buying activity in some countries and customers pushing for discounts, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe remained at ?,?650-670 ($775-798) per tonne on April 14, unchanged week on week.After a splash of bu...Read More
European steel H-beam prices was unchanged on Wednesday April 14, with the outcome of monthly scrap settlements not yet clear, sources told Fastmarkets. Fastmarkets assessed the weekly price for steel beams, domestic, delivered Northern Europe at ?,?750-780 ($883-930) per tonne on Wednesday, steady week on week. Fastmarkets' weekly price assessment for steel beams, domestic, delivered So...Read More
The domestic steel wire rod price in the north of Europe held steady in the week to Wednesday April 14 despite producers' efforts to push for increases, with buyers reporting difficulties passing higher prices downstream. Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was ?,?660-690 ($786-822) per tonne on Wednesday, unchanged since...Read More
Turkish steel producers continued to hold back from deep-sea scrap bookings because of limited sales of finished long steel, sources told Fastmarkets on Wednesday April 14.The most recent cargo sale was at the end of last week, when a steel mill in the Iskenderun region paid an average price of $436 per tonne cfr for 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded.The deal caused a $...Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in April unchanged compared with market levels the month before, amid persistent supply tightness, trade sources said this week.The move follows initial signs around the turn of the month of a potential fall of ?20 ($27) per tonne due to a combination of reasons: downward pressure on Eu...Read More
China's steel scrap import prices narrowed upward on Wednesday April 14, with rises in finished steel prices driving momentum in the market.The country's steel mills continued to raise their bids for imports of HRS101-grade scrap, with at least one bid heard at $490-495 per tonne cfr eastern China.The highest bid from northeast China reached $500 per tonne cfr China on Wednesday, which sources sai...Read More
Seaborne iron ore prices made largely rangebound movements on Wednesday April 14 except for the low-grade fines price, which fell amid weaker demand from steelmakers, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.54 per tonne, up $0.29 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.10 per tonne, down $0.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $15...Read More