The latest forecasts from Fastmarkets' team of analysts is ready to view.Prices of stainless steel are generally set to reach highs for the year as 2020 comes to a close. For the most common nickel-containing grades of stainless steel, this upward trend is being driven above all by rising nickel prices, which themselves are hitting relatively high levels into the end of 2020.The price increases si...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
The price of tin fell throughout the day on Monday March 1 to its lowest in two weeks at the close of trading on the London Metal Exchange, while the fortunes of the rest of the base-metals complex was mixed following strong losses on the previous Friday.Tin's three-month price was down to $23,460 per tonne on March 1, its lowest 5pm closing price since February 12.The metal was rallying until Fri...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
The United States Department of Agriculture's (USDA) Forest Service on Monday March 1 rescinded a January decision that would have cleared the way for a land swap deal for the Resolution Copper project involving Native American land in Arizona.According to an update on the project website, the USDA on March 1 "directed the Forest Service to withdraw the notice of availability and rescind the...Read More
The benchmark A380.1 secondary aluminium alloy price and the London Metal Exchange's North American special aluminium alloy contract (Nasaac) spiked to more than six-year highs, supported by healthy demand even as a semiconductor chip shortage disrupts automotive supply chains.Fastmarkets assessed aluminium alloy A380.1, delivered Midwest at $1.10-1.11 per lb on Thursday February 25, up 2.31% from...Read More
Ecobat has hired Sebastian Rudow as managing director of Berzelius Metall, the holding group for the company's German and Austrian assets. Rudow joins from European lead rival Recylex, which he has led...Read More
Fastmarkets plans to launch two new prices on a CIF China, Japan and Korea basis - nickel sulfate, cif China, Japan and Korea, $ per tonne, and nickel sulfate premium, cif China, Japan and Korea, $ per tonne.Fastmarkets Research estimates that the current demand for class 1 nickel units for use in electric vehicle (EV) batteries accounts for a minimal 3-4% market share, but this is forecast to inc...Read More
Publication of Fastmarkets' assessment of blister copper refining charges (RCs) for February was delayed due to a reporter error.The price assessment for copper blister 98-99% RC, spot, cif China, is normally published on the last trading day of the month.The price should therefore have been published on Friday February 26. It was instead published on Monday March 1. The price was $160-170 per ton...Read More
UC Rusal has signed and started the drawdown of a loan worth 45 billion roubles ($603 million) from VTB and Gazprombank to fund the capital expenditure of its Taishet aluminium smelter (TaAZ), it said on Monday March 1. Under the terms of the syndicated loan agreement, VTB will provide 30 billion roubles and Gazprombank will provide 15 billion roubles over a period of up to 15 years. The funds rai...Read More
Domestic prices for steel hot-rolled coil in Northern Europe moved up day on day on Monday March 1, supported by short supply, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?740 ($893.16) per tonne on Monday, up by ?,?2 from ?,?738 per tonne on Friday.The index was up by ?,?15 per tonne week on week and ?,?26.67 per tonne...Read More
Turkey's total volume of flat steel exports fell by 33.55% year on year in January, despite a 202.30% increase in cold-rolled flat steel shipments, according to the latest data from the Turkish Statistical Institute (TUIK).The main reason for the decrease was the imposition of duties on Turkish hot-rolled coil in Europe, the country's largest export destination, which led to a sharp drop in hot-ro...Read More
Domestic prices for flat steel in Russia's Central Federal District around Moscow were broadly stable over the past week, supported by cautiously optimistic sentiment amid rising exports and expected shortages because of maintenance at key suppliers, sources told Fastmarkets on Monday March 1. Hot-rolled sheet Trading activity in the region was subdued amid seasonally slow demand. Market participa...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow fell in the week to Monday March 1, due to seasonally slow demand and aggressive pricing by some producers, sources told Fastmarkets.Fastmarkets price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 50,000 roubles ($670) per tonne, including 20% value-added tax, on March 1, down by 4,000-...Read More
Turkey's flat steel import volumes decreased by 11.98% year on year in January 2021, according to the latest statistics from the Turkish Statistical Institute (TUIK). The country imported 637,818 tonnes of flat steel in January this year, compared with 724,601 tonnes a year ago. The main reason for decreasing imports was weak demand for imported steel in October 2020, when some of the bookings for...Read More
Turkish steel mills continued to purchase deep-sea scrap at the end of the last week as a result of securing more steel sales, market participants told Fastmarkets on Monday March 1.A steel mill in the Marmara region booked a Baltic Sea cargo at $456 per tonne cfr on HMS 1&2 (80:20) basis late on Friday February 26, but the cargo composition was not exposed by the parties.This transaction compares...Read More
Turkish domestic scrap prices have gone up over the past week because of increasing imported scrap values, market sources said on Monday March 1.Prices for steel scrap imported into Turkey continued to rise after mills in the country booked a number of cargoes from Europe, the United States and the Baltic Sea region in the past week, supported by growing demand and rising prices for rebar and bill...Read More
Seaborne premium hard coking coal prices in the fob and cfr markets diverged on Monday March 1, with buyers from China showing little interest in purchasing cargoes.Fastmarkets indicesPremium hard coking coal, fob DBCT: $127.05 per tonne, up $1.32 per tonnePremium hard coking coal, cfr Jingtang: $217.81 per tonne, down $0.74 per tonneHard coking coal, fob DBCT: $119.17 per tonne, down $0.10 per to...Read More
Iron ore prices dipped on Monday March 1, in line with finished steel prices, with sentiment potentially affected by the Chinese government's commitment to reduce emissions by cutting crude steel output in 2021, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.55 per tonne,down $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.96 per tonne,down $1.31 p...Read More