Turkish steel mills stayed out of the deep-sea scrap markets again on Tuesday March 2, focusing instead on raising steel prices following the latest surge in scrap values, market sources told Fastmarkets.The latest transaction was recorded late on Friday February 26, when a steel mill in the Marmara region paid $456 per tonne cfr for Baltic Sea-origin HMS 1&2 (80:20).The transaction raised the dai...Read More
Following extensive market engagement, Fastmarkets is again extending the consultation period for amendments to the specification of its daily price for steel billet, import, cfr Southeast Asia to provide additional time for market participants to submit feedback.After market feedback, Fastmarkets is extending the consultation period for its proposal to amend the MB-STE-0141-steel billet import, c...Read More
Prices in the CIS export steel slab market picked up in the week to Monday March 1 with bookings heard at higher prices in Italy. Higher costs for raw materials and raised prices for finished flat steel prices supported the uptrend in the slab sector.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $450.49 per tonne on March 1, down...Read More
Brazilian iron ore exports increased by 10.9% in February versus the corresponding month in 2020, with a significantly higher average price, according to data released by the country's economy ministry on Monday March 1.Brazil exported 24.05 million tonnes of iron ore in February, up from 21.69 million tonnes in the same month last year, according to the ministry.Vale, the world's largest producer...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in February 2021.The case list below includes only updates. For other continuing cases this year,...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 2 that are worth another look.The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 2.Please click on the thumbnail...Read More
Prices for steel scrap in the principal Mexican markets decreased sharply in the week ended Friday February 26, amid increases in inventories and a wider gap between prices in the various regions.Fastmarkets' weekly steel scrap assessments for Mexico fell sharply in nine grades, with a number of steel producers reducing prices in all regions, and also reflecting price cuts announced recently but t...Read More
Aluminium and tin showed the biggest increases at the close of trading on the London Metal Exchange on Tuesday March 2, with price support coming from a lower US Dollar Index.The dollar index went down, prompted by the advancement of a proposed $1.9 trillion Covid-19 relief package through the US Congress.Following the passing of the stimulus bill through the House of Representatives late last wee...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 2 that are worth another look.The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange...Read More
Aluminium and tin showed the biggest increases at the close of trading on the London Metal Exchange on Tuesday March 2, with price support coming from a lower US Dollar Index.The dollar index went down, prompted by the advancement of a proposed $1.9 trillion Covid-19 relief package through the US Congress.Following the passing of the stimulus bill through the House of Representatives late last wee...Read More
The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange on Tuesday March 2 shows.The exchange has published new data surrounding the number of objections, the volume in the pricing process and the number of participants involved while the debate around a permanent shift t...Read More
Base metals prices on the London Metal Exchange were in consolidation mode on Tuesday March 2, with tin declining slightly following a near 9% dive on Monday and nickel decreasing by 1%, amid a stronger US Dollar Index, which is at its highest since the first week of February.The three-month tin price increased to $23,520 per tonne at 9am on Tuesday, following its 8.6% slump at Monday's close to $...Read More
Chile produced 457,100 tonnes of copper in January, down by 0.7% from 460,100 tonnes in the same month in 2020, the Chilean copper commission, Cochilco, said on Tuesday March 2.A decline in output at the BHP-majority-owned Escondida copper mine - the world's largest - is likely to be the main reason for the small decline, with production there falling 11.6% to 84,700 tonnes in the first month of 2...Read More
ArcelorMittal has raised its European long steel product prices by a minimum of ?,?30-40 ($35-48) per tonne, market sources told Fastmarkets on Tuesday March 2.The price increases relate to mesh-quality wire rod, beams and rebar and came into effect on Friday February 26...Read More
More than 7,000 tonnes of uncut nickel cathode entered London Metal Exchange warehouses in Rotterdam on Tuesday March 2, but the 13% increase to Rotterdam's nickel stocks has not yet resulted in any reduction to premiums."The markets don't react that quickly; it only came in today," one nickel trader said on Tuesday, the day of Fastmarkets' weekly nickel price assessments. "But it's a big chunk, a...Read More
The London Metal Exchange has received a significant rise in objections to its closing prices since trading on the LME Ring was halted in March 2020, new data released by the exchange on Tuesday March 2 shows.The exchange has published new data surrounding the number of objections, the volume in the pricing process and the number of participants involved while the debate around a permanent shift t...Read More
The price of aluminium in China hit a 10-year high in the week ended Friday February 26, following news on the Thursday that the Inner Mongolia autonomous region would take measures to reduce its energy consumption from 2021 onward under its 14th Five-Year Plan.The region will not approve any new electrolytic aluminium capacity projects nor any for alumina, according to a draft document titled "Se...Read More
Treatment charges for both zinc and lead concentrates maintained their ranges in the last week of February 2021, with market participants mainly focused on hashing out annual benchmarks for the raw materials.Fastmarkets assessed the zinc spot concentrate TC, cif China, at $70-85 per tonne on Friday February 26, stable since January 29, when it dropped to a two-and-a-half-year low.Likewise, the lea...Read More
Domestic prices for steel hot-rolled coil in Northern Europe stood unchanged day on day on Tuesday March 2, with the mood across the region still bullish because of tight supplies, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?740 ($892.39) per tonne on March 2, unchanged from Monday.The index was, however, up by ?,?14 pe...Read More