Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said...Read More
Global tin ingot premiums notched significant increases in the two weeks to Tuesday February 23, with premiums in both the United States and Taiwan reaching new highs; at the same time, tight global tin supply has begun affecting European business, prompting a 22% rise in the Rotterdam ingot premium. US tin imports close to nil; premium surges to new high Taiwan tin trade gets liquidity boost...Read More
Spot activity in the molybdic oxide market slowed this week, leaving the recent rally to stall, though ferro-molybdenum prices continued to rise as sellers sought to protect already squeezed margins.Fastmarkets' price assessment for ferro-molybdenum 65% Mo min, in-whs Rotterdam rose by 1.2% during the first half of the week, to $28.80-29.50 per kg from $28.50-29.10 per kg previously. Fastmarkets'...Read More
Domestic prices for hot-dipped galvanized coil increased again in Europe over the week to Wednesday February 24, due to a material shortage, sources have told Fastmarkets.In addition, demand from both end-consumers and distributors has been high, market participants said.Fastmarkets' weekly price assessment for steel hot-dipped galvanized coil, domestic, exw Northern Europe, was ?,?850-870 ($1,033...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 24 that are worth another look.Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 24.Please click...Read More
Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.Nickel's three-month price showed the biggest rise on Wednesday at 5pm, to $19,709 per tonne, after closing be...Read More
Seaborne low-volatility pulverized coal injection (PCI) prices in both the fob and cfr markets increased on Wednesday February 24 following the latest trade and growing buying interest in the cfr market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $138.93 per tonne, up $0.15 per tonnePremium hard coking coal, cfr Jingtang: $219.04 per tonne, down $1.24 per tonneHard coking...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 24.Please click...Read More
Domestic prices for steel heavy plate decreased in Italy over the week to Wednesday February 24 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?630-640 ($766-778) per tonne on February 24, down by ?,?10 per tonne week on week from ?,?640-650 per tonne.The assessment was based on offers and deals he...Read More
Bullish sentiment returned to the London Metal Exchange during afternoon trading on Wednesday February 24, with nickel up by 1.8%, aluminium setting a new 2021 high, and most metals closing higher than on Tuesday following a limited period of selling and consolidation after new 2021 highs.Nickel's three-month price showed the biggest rise on Wednesday at 5pm, to $19,709 per tonne, after closing be...Read More
Nickel futures prices in London rose on Wednesday February 24 after the world's top producer, Norilsk Nickel, announced it had suspended production at two of its mines: Oktyabrsky and Taimyrsky. The London Metal Exchange three-month nickel price was recently trading at $19,660 per tonne, 1.5% higher than at the 5pm close on Tuesday February 23.The price has rallied significantly in February, curre...Read More
Tight supply of lead ingots resulted in an increase in lead premiums in the United States in the week to Tuesday February 23, taking them close to 2013 levels, while zinc premiums remained stable across the world.Lead's three-month contract price on the London Metal Exchange reached $2,185 per tonne on February 22, the highest since October 31, 2019.Zinc premiums were unchanged in China and Europe...Read More
Copper cathode premiums rose in Europe in the week to Tuesday February 23 due to rebounding demand from end users and economies beginning to recover from winter pandemic lockdowns. Elsewhere the markets were quieter, with consumers waiting until the last minute to buy spot cathode given soaring London Metal Exchange copper prices. The exchange's three-month contract hit a 10-year high of $9,342 pe...Read More
Premiums for nickel plate and briquette in China were flat in the week to Tuesday February 23 amid a lack of spot activity, but the nickel sulfate price in the country rose to a fresh all-time high, with a robust domestic electric vehicle (EV) market providing support.Premiums in Europe were also unchanged this past week, as were those for briquette in the United States, but US cut cathode premium...Read More
Brazilian steel prices have reached an equilibrium in comparison with international prices and are expected to remain at current premiums to imports, Gerdau chief executive officer Gustavo Werneck said on Wednesday February 24.The CEO estimates that the domestic rebar premium over imports reached 15% in February, and that the premium for domestic hot-rolled coil climbed to 11%. There is still cost...Read More
Prices for steel hollow sections in Europe were unchanged over the past week, but mills were said to be considering a round of increases, sources told Fastmarkets on Wednesday February 24.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?860-880 ($1,045-1,070) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil - the feed...Read More
Domestic prices for steel hot-rolled coil in Europe continued to recover over the week to Wednesday February 24, supported by material shortages combined with good demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?730.68 ($888.23) per tonne on Wednesday, up by ?,?4.68 per tonne from ?,?726.00 per tonne on Februa...Read More
Domestic mesh-quality steel wire rod market in Northern Europe was quiet and largely stable over the past week, sources told Fastmarkets on Wednesday February 24.Buyers adopted a 'wait-and-see' stance and were only buying hand to mouth due to expectations that producers would lower their prices after European scrap prices decrease in February, sources said.Producers, meanwhile, intend to keep pric...Read More
Prices for steel H-beams in Europe remained steady on Wednesday February 24 following a recent period of volatility on the market, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?740-760 ($899-924) per tonne on Wednesday, unchanged week on week. "Prices will not immediately go up, but we expect in April bookings that p...Read More