Domestic prices for hot-rolled coil increased substantially day on day in Northern Europe on Thursday December 10 due to a materials shortage in the market combined with good demand from distributors, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?605.00 ($732.28) per tonne on Thursday, up by ?,?1.67 per tonne from ?...Read More
The London Metal Exchange three-month nickel price rallied 4% and four metals in the base metals complex - tin, nickel, copper and zinc - set new 2020 highs during trading on Thursday December 10 on rising expectations for the approval of a Covid-19 vaccine in the United States. The three-month nickel price was at $17,430 per tonne on Thursday at 5pm, 4.35% higher than its Wednesday evening price...Read More
Hydro will be looking to strengthen its position in low-carbon aluminium as part of its 2025 strategic direction, the producer said during its capital markets day on Thursday December 10. The producer said over the past year it has seen increased demand for its low-carbon brand products, Hydro CIRCAL and Hydro REDUXA, and greater demand is expected also in 2021. "We have generated cash, cut costs...Read More
Chilean state-owned copper producer Codelco reached a 36-month labor agreement with the workers' union representing its employees at the Radomiro Tomic division in the country's northern Antofagasta region ahead of time, the company said on Thursday December 10. The agreement was comprised of no salary raises and a cut in half on bonus for completing the negotiations to 3.55 million Chilean pesos...Read More
China's imports of unwrought copper dropped to a six-month low in November, according to Chinese customs data released on Monday December 7.Imports totaled 561,311 tonnes last month, a decrease of 9.2% from 618,108 tonnes in October and the lowest monthly volume since May, when 436,031 tonnes were imported. May preceded two record-breaking months for Chinese copper imports in June (656,483 tonnes)...Read More
Base metals prices were steady on the morning of Thursday December 10, staying around price highs established on Wednesday on the London Metal Exchange when tin, zinc and nickel rallied to new year-to-date highs. The three-month nickel price rose during morning trading to $16,865 per tonne, setting yet another year-to-date high on Thursday. The metal's three-month price was at $16,820 per tonne at...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) was close to concluding negotiations with automotive producers to raise its prices for steel under annual contracts in 2021 by 30-45% across different products, commercial director Luis Martinez said on Thursday December 10.For hot-rolled coil, the increase was expected to be 40-45%, while the company was aiming for a 30-35% rise for galva...Read More
New bookings of Commonwealth of Independent States (CIS)-origin billet in Southeast Asia and Turkey were heard at higher prices in the week to Thursday December 10, while some suppliers were reported to have withdrawn from the market to reconsider prices, sources told Fastmarkets. A billet cargo originating in Russia was heard booked to Turkey earlier this week at $538 per tonne cfr, which would n...Read More
ArcelorMittal Gijon resumed steel making operations this week after six days of downtime due to industrial action, a company representative told Fastmarkets.The steel production at ArcelorMittal's Gijon plant, located in Asturias, Spain, was suspended on December 3 because of a worker's strike, Fastmarkets understands.Gijon steelworks has a capacity to produce about 600,000 tonnes per year of heav...Read More
The Turkish deep-sea scrap import market was quiet on Thursday December 10, although prices remained firm, sources told Fastmarkets.A steel mill booked a European cargo at $377-378 per tonne cfr on an HMS 1&2 (75:25) basis, which raised the daily scrap indices by more than $12 per tonne on Wednesday, but the market was quiet on Thursday.There was talk of a sale from the United States at $400 per t...Read More
Companhia Sider??rgica Nacional (CSN) set the iron ore guidance for its own production and purchases from third parties at 33 million tonnes in 2020 and 38-40 million tonnes in 2021, the Brazilian steelmaker and miner said on Thursday December 10.CSN previously expected its output and third-party purchases to total 33-36 million tonnes this year, compared to 38.46 million tonnes in 2019.A business...Read More
A recent sharp increase in Bangladeshi long steel prices has provided some much-needed respite to mill margins at a time of soaring import scrap costs, sources told Fastmarkets on Thursday December 10.Prices for Bangladeshi domestic rebar had been marooned at 55,000-55,500 taka ($638-643) per tonne since September, but prices were heard 5,500-6,000-per-tonne higher at 61,000 taka per tonne on Thur...Read More
The seaborne premium cfr price rose on Thursday December 10, with United States-origin coal offered at a higher price, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.89 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $178.60 per tonne, up $2.05 per tonneHard coking coal, fob DBCT: $92.56 per tonne, unchangedHard coking coal, cfr Jingtang: $160.26 per...Read More
Consumption of Japanese high-grade steel scrap will continue to increase in the coming months following the reboot of several blast furnaces (BFs) which were idled earlier in the year, market participants told Fastmarkets. Higher steel demand in Japan, particularly from the automotive sector, has helped Japanese steelmakers raise production in recent months after a bruising start to the year chara...Read More
Japan's Kanto Tetsugen steel scrap auction closed at an increase of ?8,105 ($78) per tonne month on month on Thursday December 10, in a move that has shocked market participants. The two highest bids in the auction - which is a cooperative of scrap dealers in the Tokyo region - came in at ?38,910 per tonne fas and ?38,510 per tonne fas respectively on Wednesday. That made an average price of ?...Read More
The January contract in the Chinese iron ore futures market on the Dalian Commodity Exchange (DCE) crossed the 1,000-yuan ($153) mark on Thursday December 10, driven by strong demand and anticipation of supply tightness, market sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.58 per tonne, up $6.42 per tonne 62% Fe low-alumina fines, cfr Qingdao: $156.79 per tonne, up $6....Read More
Key data from Fastmarkets' pricing session in London on Wednesday December 9. Key drivers Higher offers from China brought replacement costs up rapidly. Traders in Europe reported difficulty finding material, especially for antimony max 100 ppm Bi, below $6,400 per tonne for prompt delivery. Offers for delivery in...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The European ferro-titanium price has jumped to a peak last seen in May 2013, when it was assessed at a range of $6.70-6.90 per kg ddp, after renewed trading activity in quarterly business to steelmakers from January has joined with a bull run in spot demand since September.Fastmarkets assessed the price for ferro-titanium 70% Ti, max 4.5% Al, ddp Europe at $6.25-6.75 per kg on Wednesday December...Read More