The winners of Fastmarkets' Apex 2020 price forecast contest set out their projections for factors that will most influence base metals, precious metals and steel raw material prices in 2021, with Covid-19 vaccinations a constant. Base metals ED&F Man's Edward Meir, who took the top price for base metals predictions in 2020, sees firm base metals prices in 2021. "The reason we're not super bullish...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious. Asian-Pacific equities and major western pre-market equity index futures were weaker this morningUS Dollar Index firmed on Wednesday while equities sold-offBase metals There were more fallers...Read More
A summary of Australian lithium miner Orocobre's results for the fourth quarter of 2020, released on Wednesday January 27.In brief The company's output increased by 58% quarter on quarter, the third highest output the Argentina-based Olaroz facility has achieved since operations began due to high daily production rates and further decreases in costs. Olaroz operations were temporarily halted for t...Read More
Cobalt sulfate prices in China hit a 26-month high on Wednesday January 27 against a backdrop of tight spot availability and strength in the upstream cobalt hydroxide market. Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China rose to 70,000-74,000 yuan per tonne ($10,812-11,430) on Wednesday, up by 2,000-4,000 yuan per tonne (4.3%) from 68,000-70,000 yuan per tonne on Janua...Read More
European steelmakers have pushed up their domestic prices for hot-rolled coil, but buyers were holding back from making new deals, sources told Fastmarkets on Thursday January 28.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?711.00 ($862.20) per tonne on Thursday, up by ?,?2.25 per tonne from ?,?708.75 per tonne on January 27.This was a rebound...Read More
Domestic prices for hot-dipped galvanizing coil (HDG) started to decrease over the week to Wednesday January 27 despite the continuous short supply of material, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe was ?,?820-840 ($994-1,019) per tonne on January 27, down by ?,?10 per tonne week on week from ?,?830-850 per tonne.Fastmarkets' cor...Read More
The China Chamber of Commerce for Metallurgical Enterprises has released a report appealing to the government to curb speculation in the iron ore market as well as cut steel exports, with both proposals prompting moves in hot-rolled coil prices in China on Thursday January 28. Domestic Eastern China (Shanghai): 4,500-4,530 yuan ($695-700) per tonne, down 30 yuan per tonne Spot sellers cut prices o...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
While steel reinforcing bar prices in the United States have held steady over the past week, market participants were leery of procuring more material given expectations that ferrous scrap costs may decline during next month's domestic trade. Fastmarkets' weekly assessment for steel reinforcing bar (rebar), fob mill US held at $39.75 per hundredweight ($795 per short ton) on Wednesday January 27....Read More
Demand for steel rebar was very weak in Egypt in the week to Thursday January 28, with buyers expecting producers to reduce their prices.The rebar producers, however, had not changed their prices at the time Fastmarkets made its price assessment.One of the main reasons for weak rebar demand was the construction ban in the country. Egypt imposed a ban on construction in May 2020, although it eased...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
Turkish steel producers continued to book deep-sea scrap cargoes at steady prices on Thursday January 27, after reviving their interest in imports on Wednesday following a sharp downturn in scrap values, sources told Fastmarkets.A steel mill in the Iskenderun region booked a cargo from the United States, comprising HMS 1&2 (80:20) at $416 per tonne, shredded at $421 per tonne and bonus scrap at $4...Read More
The winners of Fastmarkets' Apex 2020 price forecast contest set out their projections for factors that will most influence base metals, precious metals and steel raw material prices in 2021, with Covid-19 vaccinations a constant. Base metals ED&F Man's Edward Meir, who took the top price for base metals predictions in 2020, sees firm base metals prices in 2021. "The reason we're not super bullish...Read More
Demand for steel rebar was very weak in Egypt in the week to Thursday January 28, with buyers expecting producers to reduce their prices.The rebar producers, however, had not changed their prices at the time Fastmarkets made its price assessment.One of the main reasons for weak rebar demand was the construction ban in the country. Egypt imposed a ban on construction in May 2020, although it eased...Read More
Turkish prices for steel billet have continued to soften over the past week because of limited demand and falling scrap costs, market sources said on Thursday January 28.Imported scrap prices have been falling in the country, with mills slowing their bookings due to the weak demand for billet and finished steel.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, w...Read More
Italian stainless steel producer Acciai Speciali Terni (AST) is attempting to unilaterally and retroactively apply price increases to already-concluded supply contracts agreed with distribution companies, market sources told Fastmarkets on Thursday January 28. A distributor in Denmark that buys from AST, among other stainless steel producers, said AST had made it aware of its intention to apply a...Read More
The European titanium scrap market, which was steady in the week to Wednesday January 27, looks set to resume its price rally that started in September 2020 in the near term, market sources told Fastmarkets. Fastmarkets' titanium scrap turnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe price stood at $1.60-1.75 per lb in the latest assessment on Wednesday, while titanium scrap tu...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
Italian stainless steel producer Acciai Speciali Terni (AST) is attempting to unilaterally and retroactively apply price increases to already-concluded supply contracts agreed with distribution companies, market sources told Fastmarkets on Thursday January 28. A distributor in Denmark that buys from AST, among other stainless steel producers, said AST had made it aware of its intention to apply a...Read More
European steelmakers have pushed up their domestic prices for hot-rolled coil, but buyers were holding back from making new deals, sources told Fastmarkets on Thursday January 28.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?711.00 ($862.20) per tonne on Thursday, up by ?,?2.25 per tonne from ?,?708.75 per tonne on January 27.This was a rebound...Read More