Brazilian flat steel makers applied a new round of price increases in the first week of April, sources have told Fastmarkets.Sellers have been announcing increases of 5-12% in the first two weeks of the month, market sources said.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, reached 6,133-6,224 Reais ($1,079-1,095) per tonne on Friday April 9, up b...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
Here are five Fastmarkets stories you might have missed on Monday April 12 that are worth another look.Tata Steel has introduced carbon surcharges on steel products manufactured in Europe to balance the rising cost of such emissions, the company's spokesman told Fastmarkets on April 12.Rio Tinto and Turquoise Hill...Read More
Hady Seyeda, chief executive officer of HC Starck Tungsten Powders, has been named deputy CEO of parent company Masan High-Tech Materials. "As CEO Craig Bradshaw's right-hand man, Seyeda will control all tungsten activities worldwide, with the exception of ore production and processing in the Nui Phao mine in Vietnam," Masan High-Tech Materials said on Monday April 12. Masan High-Tech Materia...Read More
The three-month nickel price was down by the greatest percentage on the London Metal Exchange at the close on Monday April 12, with Chinese warnings of higher prices over the weekend driving the entire complex down as well. The stainless steel additive was down to $16,134 per tonne on Monday, its lowest in two weeks, following a 1.2% drop on Friday to $16,628 per tonne. Nickel, along with the rest...Read More
The waiting time to deliver out aluminium at Istim's London Metal Exchange warehouses in Port Klang, Malaysia, soared to 183 days at the end of March, according to the LME's latest queue report. The queue has built quickly over the past month, compared with no queue at the end of February for Istim warehouses in Port Klang for the first time since December 2018. More than 600,000 tonnes were...Read More
The London Metal Exchange three-month nickel price was down by 2.8% to $16,165 per tonne during morning trading on Monday April 12, with the other base metals also starting the week lower after turning to the downside last Friday following comments out of China regarding rising commodity prices.The decline in nickel this morning, the sharpest among its peers, comes after it had dropped by 1.2% on...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 hot-rolled coil increased further across Europe over the week to Friday April 9 due to a material shortage and strong demand.At the end of last week, ArcelorMittal increased its official HRC offers to ?,?920 ($1,094) per tonne ex-works, up by ?,?20 per tonne from its previous offers.The announcement followed a rise in transaction prices, with buyers paying higher prices f...Read More
Steel rebar prices from Russia increased in the week to Monday April 12 supported by a strong domestic market, Fastmarkets has learned."Russian domestic prices are strengthening," a source on the producers' side said.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 54,000 roubles ($697) per tonne on April 12, including 20% value-added tax. This was...Read More
The three-month nickel price was down by the greatest percentage on the London Metal Exchange at the close on Monday April 12, with Chinese warnings of higher prices over the weekend driving the entire complex down as well. The stainless steel additive was down to $16,134 per tonne on Monday, its lowest in two weeks, following a 1.2% drop on Friday to $16,628 per tonne. Nickel, along with the rest...Read More
National Iranian Copper Industries Co's (NICIC) three copper-related projects will come online this year to produce an extra 400,000 tonnes of copper concentrate, according to local media reports. That could bring in an estimate revenue of $800 million to the company, which was established by the Iranian state and was subsequently privatized, according to a Tehran Times report on April 6 that cite...Read More
The waiting time to deliver out aluminium at Istim's London Metal Exchange warehouses in Port Klang, Malaysia, soared to 183 days at the end of March, according to the LME's latest queue report. The queue has built quickly over the past month, compared with no queue at the end of February for Istim warehouses in Port Klang for the first time since December 2018. More than 600,000 tonnes were...Read More
Chinese automotive production jumped by 71.6% annually in March to 2.462 million units, providing strong support for upstream metal prices. The China Association of Automobile Manufacturers (CAAM) attributed the strong recovery in automotive output to the government's efforts to control the Covid-19 pandemic. Output was also 63.9% higher than that in February, indicating steady growth in industria...Read More
The London Metal Exchange three-month nickel price was down by 2.8% to $16,165 per tonne during morning trading on Monday April 12, with the other base metals also starting the week lower after turning to the downside last Friday following comments out of China regarding rising commodity prices.The decline in nickel this morning, the sharpest among its peers, comes after it had dropped by 1.2% on...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were weaker this morning, Monday April 12, while markets contend with cross winds.United States treasury 10-year yields have pulled back from recent highs Federal Reserve Chairman Jerome Powell said US economy at an "inflection point" with growth and hiring set to accelerateMarkets wary of US earnings season in case resu...Read More
Tata Steel has introduced carbon surcharges on steel products manufactured in Europe to balance the rising cost of such emissions, the company's spokesman told Fastmarkets on Monday April 12."We are now creating a greater awareness of the cost of carbon by introducing a CO2 surcharge on our products," the spokesman said."Increasing shortages and rising prices for emissions rights mean that there i...Read More
Prices for steel slab from the Commonwealth of Independent States continued to climb in the week to Monday April 12, supported by persistent growth in finished flat steel prices both domestically and in customers' markets.Offer prices for hot-rolled coil (HRC) from producers in Russia and Ukraine have jumped to $895-960 per tonne fob, depending on the coil weight and supplier, up from $885-905 per...Read More
Flat steel suppliers to Russia's Central Federal District around Moscow were targeting higher prices for May deliveries because of the strong export market but faced stiff resistance from buyers, sources told Fastmarkets on Monday April 12. Firm offers were still scarce because producers were taking their time to better estimate the market situation, but some had already started to test buyers wit...Read More
Turkish steel mills held off from making deep-sea scrap bookings on the first working day of the week, market participants told Fastmarkets on Monday April 12. The most recent cargo was heard at the end of the last week, when a steel mill in the Iskenderun region booked a Canadian cargo comprising 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded at an average price of $436 per tonne c...Read More