Vale - the largest supplier of iron ore pellets and a trendsetter in the global market - has again hiked its premiums for blast furnace (BF) and direct-reduced (DR) pellets up for the second quarter of 2021, Fastmarkets understands.Vale settled its BF pellet premium for the second quarter of 2021 at $52 per tonne, compared with a first-quarter 2021 premium of $40 per tonne, Fastmarkets learned.Val...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 25 that are worth another look....Read More
Alumina cargoes in Brazil were trading at a slight premium to Australian material on Thursday February 25 due a muddled supply picture, but opinions on the market's direction remained mixed.Fastmarkets' alumina index adjustment to fob Australia index, Brazil, was at a premium of $0.90 per dry metric tonne compared with Australian units on Thursday, against a $4.51 per dmt discount on January 14.Th...Read More
The price of aluminium showed a 2.3% rise and held close to its new 2021 high of $2,243 per tonne during trading on the London Metal Exchange on Thursday February 25.The price of nickel was the only one among the base-metals complex to close lower day on day at the 5pm close, being down by 2.6%.Aluminium's three-month price was up to $2,235 per tonne at the close, from Wednesday's 5pm price of $2,...Read More
At least $14 trillion must be invested in the electricity grid worldwide by 2050 to support new energy usages, research consultancy BloombergNEF reported on Tuesday February 23.The drive to upgrade the grid could spur demand for a wide range of metals and industrial minerals."The transition to electric heating and transport is driving up electricity demand, while the tremendous growth of wind and...Read More
Alumina cargoes in Brazil were trading at a slight premium to Australian material on Thursday February 25 due a muddled supply picture, but opinions on the market's direction remained mixed.Fastmarkets' alumina index adjustment to fob Australia index, Brazil, was at a premium of $0.90 per dry metric tonne compared with Australian units on Thursday, against a $4.51 per dmt discount on January 14.Th...Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Copper scrap yards across China are keen to offload their stock following a recent rally in the red metal price, dampening Chinese buyers' interest in overseas materials."Suddenly we are seeing more copper scrap, even old wires and rod, being offered at discount as big as 900 yuan ($139). The discount was very slim prior to Lunar New Year holiday (February 11-17)," a trader said. "These days I do...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 25 that are worth another look....Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Here are five Fastmarkets stories you might have missed on Thursday February 25 that are worth another look....Read More
Turkish steelmakers have continued their deep-sea scrap purchasing despite rising prices, supported by strong rebar and billet sales, market sources said on Thursday February 25.A steel mill in the Iskenderun region booked a US cargo, comprising 11,000 tonnes of HMS 1&2 (80:20) at $454 per tonne along with 16,000 tonnes of shredded and 3,000 tonnes of bonus at $464 per tonne cfr.The same mill also...Read More
A deepening of the acute shortage of titanium scrap, added to the news this week of a slump in aerospace orders, should support and strengthen prices for both scrap and ferro-titanium in the coming months despite the potential consequences for alloy consumption, industry sources told Fastmarkets on Wednesday February 24.Prices in Europe's titanium scrap markets have been rallying for almost seven...Read More
Apart from nickel on the London Metal Exchange, the rest of the base metals on both the LME and Shanghai Futures Exchange were once again stronger this morning, Thursday February 25.US Federal Reserve Chairman Jerome Powell told Congress that it might take three years to reach the central bank's inflation targetsAsian-Pacific equities were up strongly on Powell's commentsBase metals The LME three-...Read More
The spot cobalt hydroxide payable edged higher in the first half of the week with consumers holding robust demand amid persistent spot tight availability of the feedstock, sources said on February 25.Fastmarkets' assessment for cobalt hydroxide payable indicator, min 30% Co, cif China rose to 92.5-94% of standard-grade cobalt (low end) on Wednesday February 24, up by 0.81% from 92-93% on February...Read More
The rise in bulk freight rates, especially from Asia, has dramatically boosted seaborne steel prices and disrupted South American foreign trade, market participants told Fastmarkets in the week to Thursday February 25.Trader sources have reported a material decrease in vessel availability, especially in China, that led to some steel mills cancelling their offers to the continent. Shipping companie...Read More
Hot-rolled coil prices in the United States continue to hit record highs, with further upside expected, Fastmarkets understands. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.85 per hundredweight ($1,237 per short ton) on Thursday February 25, up by 0.67% from $61.44 per cwt on Wednesday February 24 and 2.62% higher than $60.27 per cwt one week earlier.Inpu...Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased day on day on Thursday February 25 due to tight supply, sources have told Fastmarkets.Market participants expected that European steelmakers would increase their offers next week in an attempt to trigger further price rises.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?735.00...Read More
Prices for steel reinforcing bar in the United States continue to hold steady, but a raw materials-driven upside to the market may materialize in the near future, market participants said.Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US remained at $39.75 per hundredweight ($795 per short ton) on February 24. US market While overall market sentiment has remained stable...Read More
Dubai's Conares Steel has cut its rebar price to 2,530 dirhams ($689) per tonne ex-works, down from the previous 2,590 dirhams per tonne ex-works, chief executive Bharat Bhatia told Fastmarkets on Thursday, February 25.The UAE steelmaker's announcement follow's Wednesday's price cut by the region's biggest steel producer Emirates Steel, which dropped its rebar price by 91 dirhams to 2,535 dirhams....Read More