The domestic price in Northern Europe for steel wire rod increased again over the week to Wednesday December 9, supported by short supply, good demand and a jump in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, rose to ?,?550-570 ($666-690) per tonne on Wednesday, up by ?,?10-20 per tonne from...Read More
Turkish steel mills continued to book deep-sea scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an...Read More
Steel billet exporters from the Commonwealth of Independent States (CIS) have continued to increase their offer prices, despite trading being limited by the difference between mills' offers and buyers' bids, sources told Fastmarkets on Wednesday December 9.Offers of steel billet for February shipment from some Russian and Ukrainian mills were heard within the range of $530-540 per tonne fob on Wed...Read More
Iran's export prices for steel billet and slab continued their uptrends in the week to Wednesday December 9, boosted by global price rises for steel products and raw material costs. Both prices have hit their highest point since July 2018, having risen sharply in recent weeks. Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran was $490-500 per tonne on December 9, r...Read More
China's domestic rebar prices dropped slightly on Wednesday December 9, with some sellers needing to destock ahead of the decline in end user demand during the winter season. DomesticEastern China (Shanghai): 4,020 -4,050 yuan ($616-620) per tonne, narrowed down by 10 yuan per tonneSome traders cut their prices by 10 yuan per tonne to attract buyers because of their pessimistic outlook on dem...Read More
Hollow steel sections prices moved higher in Europe this week due to continued rises in feedstock costs and tight supply of material, sources told Fastmarkets on Wednesday December 9.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?700-720 ($847-872) per tonne on Wednesday, up from ?,?680-700 per tonne a week earlier.The availability of hot-roll...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Hot-rolled coil prices in the United States have resumed their uptrend, with buyers on the sidelines waiting for mills to open their order books amid limited material availability, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $44 per hundredweight ($880 per short ton) on Wednesday December 9, up by 0.64% after slipping to $43.72 per cwt on...Read More
The nickel briquette premium in the United States showed a significant decline on Tuesday December 8, largely prompted by aggressive selling, with some market participants seeking to reduce premiums in order to capture business.Meanwhile, the price in China for nickel pig iron (NPI) continued its decline, while European market participants reported significantly lower prices being achieved in annu...Read More
Chilean miner Codelco has increased the US benchmark copper premium for 2021 supply of cathode to traders, though the premium for most end users is flat, a source with direct knowledge of the matter confirmed on Wednesday December 9."For the [copper supply to the United States], it was not a rollover in general," the source told Fastmarkets. "[Codelco has] increased premiums for most traders; [the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Seaborne coking coal prices in the cfr market jumped on Wednesday December 9 due to relatively tight supplies for steel mills in China, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $102.81 per tonne, down $0.27 per tonnePremium hard coking coal, cfr Jingtang: $176.55 per tonne, up $7.03 per tonneHard coking coal, fob DBCT: $92.56 per tonne, down $0...Read More
London Metal Exchange nickel, zinc and tin prices hit new 2020 highs on the morning of Wednesday December 9, with the base metals complex upbeat due to new proposals for a US Covid-19 stimulus package and the dollar index remaining low. Zinc's three-month price was up 1.9% at $2,852.50 per tonne on Wednesday from Tuesday's closing price of $2,799.50 per tonne. This price set a new high for 2020, a...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds - political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat. China's consumer price i...Read More
Domestic prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?603.33 ($730.77) per tonne on Wednesday, up by ?,?25.83 per tonne from ?,?577.5...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 9.Please click...Read More
Canadian producer Taseko Mines has received a key environmental permit for its Florence copper project in the US state of Arizona.The Arizona Department of Environmental Quality granted Taseko's Florence copper project the aquifer protection permit, the company said on Tuesday December 8."The US Environmental Protection Agency continues to advance their permitting process, and our expectation is t...Read More
Tin, zinc and nickel all set new 2020 highs during trading on Wednesday December 9, while aluminium increased above 2% on a positive day for metals across the London Metal Exchange base metals complex.Tin stood at $19,442 per tonne at the close on Wednesday, a 1.4% increase from $19,175 per tonne at 5pm on Tuesday.Tin's three-month price rose substantially over the day, reaching $19,510 per tonne...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday December 9.Fastmarkets' alumina index, fob Australia is at its highest level since March 18, 2020, up 30% from the year-to-date low of $224.48 per tonne on April 15. Key drivers Two new deals concluded late on December 8. The first deal concluded at $295.50 per tonne fob Australia for 30,000 tonnes...Read More
A reminder of Fastmarkets base metals pricing and coverage during the Christmas period. Fastmarkets base metals price assessments are published in accordance with the London Metal Exchange holiday calendar, which reflects holidays in England and Wales. This means base metals prices will be assessed on every LME business day, including between Christmas and New Year, but are not published or rolled...Read More