A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 24.Please click...Read More
Domestic prices for heavy steel plate increased over the week to Wednesday March 24, supported by demand recovery and high costs for steel slab, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?700-720 ($832-856) per tonne on March 24, up by ?,?35-40 per tonne from ?,?665-680 per tonne a week earlier.The assessment was...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
The Shanghai Futures Exchange's plans to list ferro-chrome futures, potentially this year, will bring welcomed hedging opportunities and may weaken the dominance of China's stainless steel mills in the ore and alloy markets, participants told Fastmarkets.While no definite date or specifications of the ferro-chrome futures have been announced, Fastmarkets asked participants what changes these contr...Read More
Nicholas Quek has been appointed chief executive officer of Triland Metals Singapore Pte Ltd (TMS), with effect from Monday March 22.Quek joined TMS in April 1, 2019. Before becoming CEO, he was head of sales & trading.He replaces Shanthini Thaker, who...Read More
Minor metals prices have rebounded in the first quarter of 2021 after a year when the Covid-19 pandemic stifled trade and demand visibility. Fastmarkets highlights the key drivers behind the recent price moves. Strong demand from China China's economy began to restart last year far ahead of the rest of the world, which was still feeling the economic impact of Covid-19 shutdowns. Stimulus measures...Read More
Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
Iron ore prices mostly edged down on Wednesday March 24, due to reduced trading activity, sources told Fastmarkets, but high-grade fines gained slightly due to concerns over supplies of Carajas fines from Brazil.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $161.39 per tonne,down $0.41 per tonne62% Fe low-alumina fines, cfr Qingdao: $161.97 per tonne,down $0.03 per tonne58% Fe fines high...Read More
Domestic prices in Europe for steel cold-rolled coil increased further over the week to Wednesday March 24 due to a materials shortage combined with good demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?900-930 ($1,070-1,106) per tonne on March 24, up by ?,?10-20 per tonne from ?,?880-920 per tonne a week earlier.The as...Read More
Prices for steel hollow sections in Europe moved up in the week to Wednesday March 24 after mills sought to pass on higher feedstock costs, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?890-920 ($1,058-1,094) per tonne on Wednesday, up from ?,?860-890 per tonne the previous week.The price of hot-rolled coil (HRC...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
Swedish metals and mining company Boliden is supplying low-carbon copper produced at its operations in northern Sweden and Finland to Elcowire, the wire rod producer said.The copper cathode supplied has a carbon footprint of less than 1.5 kg of carbon-dioxide (CO2) equivalent emissions per kg of copper, compared to an industry average the International Copper Association estimated to be around 4.1...Read More
The San Gerardo open-pit zinc-lead mine in Peru, part of the Atacocha plant, has resumed activities after 20 days of downtime because of community demonstrations that were blocking the road to the facilities, Brazilian base metals producer Nexa Resources said on Tuesday March 23.The ramp-up to full production was expected to take 3-5 days, the company added. The full effect of the temporary halt w...Read More
The global tin supply squeeze shows no sign of abating, pushing United States premiums close to $2,000 per tonne and European premiums to new all-time highs in the two weeks to Tuesday March 23.European, United States premiums hit all-time highs; supply tightness continues globallyTaiwan cif premium holds at $400-500 per tonneTin cash-to-three-month spread hovers around $2,000-per-tonne backwardat...Read More
Nicholas Quek has been appointed chief executive officer of Triland Metals Singapore Pte Ltd (TMS), with effect from Monday March 22.Quek joined TMS in April 1, 2019. Before becoming CEO, he was head of sales & trading.He replaces Shanthini Thaker, who...Read More
Minera Los Pelambres, the copper mine in Chile operated by Antofagasta, has reached a new labor deal with the trade union representing its employees following a period of government-mediated negotiations, the company said on Tuesday March 23.The new agreement will be valid for 36 months, and includes improvements in benefits and operational practices, as well as a bonus for agreeing the deal, the...Read More
Hot-rolled coil prices in the United States have steamed past $66 per hundredweight ($1,320 per short ton) and still have room to grow, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $66.36 per cwt ($1,327.20 per ton) on Wednesday March 24, up by 1.02% from $65.69 per cwt on Tuesday March 23 and 2.42% higher than $64.79...Read More
British Steel is increasing the use of scrap in its steelmaking process to reduce its carbon emissions, alongside investments in new equipment, the company said on Wednesday March 24.Increasing the use of recycled scrap has led to significant emissions and environmental benefits at its steelmaking plant in Scunthorpe, northern England, the company said. And it had plans to enhance this with more l...Read More