Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
The US ferrous scrap market has mostly settled for January, with market participants hinting that while tight No1 busheling may see continued upside in February, shredded scrap has become plentiful and has likely peaked.Detroit kicked off trading on Wednesday January 6, while activity in the Chicago market dragged into Monday January 11.Fastmarkets' assessments of the consumer buying prices f...Read More
Prices for domestic steel hot-rolled coil increased slightly in Northern Europe in the week to Friday January 8, with ArcelorMittal pushing its offer prices further upward.Market sources expected that domestic prices would continue to rise through January with buyers facing continuing supply shortages.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?...Read More
Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally. The increase is in addition to the 10% rise in prices applied in December by most steelmakers.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was 5,080-5,10...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
China's regulatory reboot to again become a major steel scrap importer is likely to cause supply problems for other consumers of Japanese material, market participants have told Fastmarkets.The first deals signed by Chinese companies after rules changed on December 31 to officially allow the restart of scrap imports to China have all been for vessels of Japanese material.If this continues, China's...Read More
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange's latest queue report.This is down from 30 days at the end of November and 71 days at the end of October.There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020.The queues originally built up due a series of...Read More
The London Metal Exchange's average daily volume (ADV) of trades declined across all base metals in December 2020 despite price rallies, according to latest LME data. Copper's ADV had the smallest decline but was still down 11.9% year on year at 119,141 lots. This came in spite of the average official three-month copper price increasing by 9.8% in December month on month to an average of $7,7...Read More
The seaborne hard coking coal cfr price rose by $1 per tonne to $196.03 per tonne cfr China on Monday January 11 while coke producers in parts of China proposed a 13th round of domestic price increases of around 100 yuan ($15) per tonne - effective from 12am China time on January 13, Fastmarkets understands.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.93 per tonne, unchangedPremium...Read More
Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday January 8.An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu."Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa's 90...Read More
Brazilian domestic rebar prices reached a new record high once again in early January, after steelmakers increased their offers by 12-12.5%, market participants told Fastmarkets.Sources reported persistent low availability from mills, long lead times and no room for discounts. Most suppliers, they said, were offering and selling at similar, higher prices.Fastmarkets' price assessment for ...Read More
Canada Nickel Co has signed a non-binding Memorandum of Understanding (MoU) with Glencore Canada to examine the potential treatment and processing of future nickel and cobalt production from Glencore's Kidd concentrator and metallurgical site in Timmins, Ontario.Canada Nickel, which is developing nickel-cobalt projects to deliver metals for the electric vehicles and stainless steel markets, comple...Read More
Copper and nickel's forward prices shed more than 3% on Monday January 11, in a second day of declines in the base metals complex on the London Metal Exchange, following a sharp increase in the United States dollar index and concerns over a resurgence of Covid-19 cases in China. Copper's three-month price closed at $7,864 per tonne at 5pm, a 3.3% decrease from Friday's closing price of $8,131 per...Read More
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange's latest queue report.This is down from 30 days at the end of November and 71 days at the end of October.There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020.The queues originally built up due a series of...Read More
The London Metal Exchange's average daily volume (ADV) of trades declined across all base metals in December 2020 despite price rallies, according to latest LME data. Copper's ADV had the smallest decline but was still down 11.9% year on year at 119,141 lots. This came in spite of the average official three-month copper price increasing by 9.8% in December month on month to an average of $7,7...Read More
The Chinese nickel sulfate market marked a strong start to 2021, with the price climbing above its previous 2020 high amid good demand and limited supply, sources told Fastmarkets. Fastmarkets assessed the price of nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 31,000-31,500 yuan ($4,786-4,864) per tonne on Friday January 8, a level last reached on October 11, 2019, up by 500-1,...Read More
Nickel's forward price was the most affected by a rising United States dollar index in morning trading on the London Metal Exchange on Monday January 11, with the rest of the base metals complex also registering price falls following a bullish first week of 2021. Nickel's three-month price lost 1.65% to trade at $17,375 per tonne at 9am on Monday, compared with Friday's 5pm closing price of $17,66...Read More
Hot-rolled coil prices in the United States resumed their historic climb on Monday January 11 after inching lower on Friday January 8. Fastmarkets' daily steel hot-rolled coil index was calculated at $54.49 per hundredweight ($1,089.80 per short ton) on Monday, up by 4.57% from $52.11 per cwt on Friday and 5.38% higher than $51.71 per cwt one week earlier. Inputs were received in a wide range of $...Read More
Ford Motor Co announced that it will cease manufacturing activities in Brazil following "years of significant losses" and idle capacity exacerbated by the Covid-19 pandemic.The automaker said on Monday January 11 that it will stop operating three plants in the country - one in Ca??amari city, in northeastern Bahia state; one in Taubat?(C) city, in southeastern S??o Paulo state; and a third one in...Read More
The prospects for the global long-steel market for the first quarter of 2021 remained rather optimistic, with upward momentum in pricing expected to continue, supported by short supply, although the outlook for the second quarter was unclear, the International Rebar Producers & Exporters Association (Irepas) said last week.Overall, regional markets across the globe performed well in the fourth qua...Read More