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 London Metal Exchange three-month nickel price rose to a seven-year high during trading on Thursday February 18, with positive macroeconomic sentiment and the return of Asian trading acting as catalysts for base metals prices. Nickel's three-month price reached $19,205 per tonne during Thursday, the first time it had touched above $19,000 per tonne since September 2014. It closed slightly low...Read More
Turkish steel producers resumed their deep-sea scrap purchases, accepting higher prices due to support from growing steel demand, market sources told Fastmarkets on Thursday February 18.A steel mill in the Marmara region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $418 per tonne cfr late on Wednesday February 17.The previous US cargo sold at $410 per tonne cfr for the same ma...Read More
Low-carbon aluminium will be part of the plan by Greek industrial conglomerate Mytilineos to achieve net-zero carbon emissions by 2050, the company said in an online summit on Thursday February 18.Mytilineos owns producer Aluminium of Greece, which has output of more than 182,000 tonnes per year of aluminium. The group also has companies that are active in the fields of energy and engineering solu...Read More
Mitsui Bussan Commodities (MBC) has launched a new regulated subsidiary in Paris, France, to ensure continuity of service for clients after Brexit, it said on Thursday February 18. The subsidiary is called Mitsui Bussan Commodities (France) SA (MBCF) and will aim to expand the company's pan-European capability now that the United Kingdom has left the European Union. The energy team are already pro...Read More
Most of the base metals complex set new year-to-date and multi year highs on the morning of Thursday February 18, with the return of trade in Asia after the Lunar New Year holiday only pushing prices even higher. Copper's three-month price hit $8,630 per tonne shortly after 9am, a 2.75% increase from Wednesday's closing price of $8,390 per tonne. Some 15,000 lots had been traded - more than on eac...Read More
Marubeni Corp has entered into a strategic partnership agreement with battery recycler Retriev Technologies Inc in the United States to develop a new circular business for end-of-life lithium-ion batteries, the Japanese trader said on Wednesday February 17. Two companies will develop a business model by which valuable metals recovered from end-of-life lithium-ion batteries can be reused. They will...Read More
China's metals industry returned from holiday to find metal prices were higher and it would appear have chased prices higher, with all the base metals on the London Metal Exchange and Shanghai Futures Exchange showing gains this morning, Thursday February 18. While the metals were higher, Asian equities were for the most part under pressure this morning US 10-year treasury yields remains firm, as...Read More
With negotiations for the annual zinc concentrate treatment charge (TC) under way for 2021, miners and smelters are debating how much to lower the TC after a year of tightening supply.Fastmarkets understands that initial miner offers were close to spot levels of $100 per tonne, while smelters staked their first bids near last year's settlement price of $299.75 per tonne.The 2020 annual benchmark z...Read More
Hot-rolled coil prices in the Unites States remained at historic highs on Thursday February 18.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $60.27 per hundredweight ($1,205.40 per short ton) on February 18, an increase of 0.17% from $60.17 per cwt the previous day and up 1.07% from $59.63 per cwt one week earlier. Inputs were received across all three sub-indi...Read More
Market sources expect domestic prices for steel hot-rolled coil in Europe to remain strong on support from reduced availability and long lead times, sources told Fastmarkets on Thursday February 18.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?725 ($874.46) per tonne on Thursday February 18, down by ?,?4 per tonne from ?,?729 per tonne on Februar...Read More
Steel rebar buyers in Egypt expect prices to increase for March production orders because of rising production costs, sources told Fastmarkets on Thursday, February 18.Demand, however, remains weak because of the limited number of permits being granted for new buildings in the country since the easing of the ban on construction, they added.The cost of steelmaking raw materials from the Commonwealt...Read More
Turkish steel billet prices have increased over the past week due to rising imported scrap costs, market sources told Fastmarkets on Thursday February 18.Despite the most recent deep-sea scrap bookings taking place on February 10, prices for the steelmaking raw material have risen by more than $22 per tonne on a weekly basis.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,...Read More
Domestic long steel prices in Turkey have continued to increase with support from rising scrap values, market sources said on Thursday February 18.Turkish steelmakers had resumed their deep-sea scrap bookings on February 10, dragging prices up by more than $22 per tonne on a weekly basis.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, was $408.69 per tonne on...Read More
Italian steel distributors' association Assofermet has sent a letter to the European Commission highlighting distortion in the European Union carbon and stainless flat steel market caused by anti-dumping and safeguard measures. The association has specifically asked not to prolong existing safeguard measures into steel imports beyond their expiration on June 30 this year, it said on Wednesday Febr...Read More
Turkish export prices for steel rebar and wire rod have increased over the past week amid rising import costs for scrap and a recovery in demand, market sources said on Thursday February 18.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob main port Turkey, was $605-620 per tonne on Thursday, up from last week's $595-600 per tonne.The steel producers in the countr...Read More
Three workers who were trapped in the rubble after an explosion at major South African steelmaker ArcelorMittal Vanderbijlpark have been found dead, local news providers said on Thursday February 18.Early on February 17, a portion of a stack at one of the mill's coke batteries fell onto a control room where three employees were working, trapping them under the rubble. Rescue teams worked throughou...Read More
Prices for steel scrap imported to Bangladesh accelerated over the last seven days despite a hesitancy from buyers to pay higher rates, market participants told Fastmarkets on February 18.Bangladeshi steel scrap prices have swelled in the last week in line with other major import markets such as Turkey and India, although few sales were heard at the new levels.Shredded scrap in containers was hear...Read More