New bookings of Commonwealth of Independent States (CIS)-origin billet to Turkey and Southeast Asia were heard at higher prices this week, with suppliers continuing to push for increases.Market participants in other regions retained their wait-and-see stance, sources told Fastmarkets on Thursday December 3.Billet offers were heard at $510-520 per tonne fob Black Sea from a few Russian suppliers; h...Read More
Turkish steel billet prices have increased over the past week thanks to stronger scrap costs and despite slowing demand, market sources said on Thursday December 3.Suppliers in the Commonwealth of Independent States (CIS) region continued to raise their offers despite low bids, because they were mostly fully booked until the end of the year.Offers from the CIS region were heard around $520-530 per...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 3 that are worth another look.China's domestic prices for stainless cold-rolled coil dropped slightly over the week ended Wednesday December 2 on reduced demand and a weaker nickel market.The...Read More
Global silico-manganese production grew by 3.1% month on month to around 1.54 million tonnes in October on higher output in all regions except Europe, the latest data from the International Manganese Institute (IMnI) shows. The October output, following consecutive month-on-month gains of 3.3% and 0.6% in September and August respectively, also registered a fall of 1.3% year on year, the IMnI data...Read More
World manganese ore output registered a month-on-month rise of 3.4% to around 1.97 million tonnes of manganese units in October, partly due to the evident increase in supply from such regions as Asia and Oceania, the Americas and Europe, the latest data from the International Manganese Institute (IMnI) shows.World ore supply in October, after month-on-month declines of 1% and 2.5% in September and...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 3 that are worth another look.China's domestic prices for stainless cold-rolled coil dropped slightly over the week ended Wednesday December 2 on reduced demand and a weaker nickel market.The...Read More
Three-month base-metals prices on the London Metal Exchange were mixed at the 5pm close of trading on Thursday December 3, with nickel and aluminium showing drops of more than 1% but tin gaining by nearly $100 per tonne day-on-day.Nickel's price fell to $15,954 per tonne at Thursday's close, down by 0.3% from $16,000 per tonne on Wednesday, which in turn was down by 1.7% from Tuesday's three-month...Read More
Norway-based silicon and ferro-silicon producer Elkem has opened a new production workshop in Shanghai, China to manufacture specialized silicones for hybrid and electric vehicles (EVs), the company said on Wednesday November 2. Silicones are high-performance polymers made up of silicon, oxygen and other elements that can include carbon and hydrogen. They are used in the assembly, electrical integ...Read More
Turkish steel producers continued their deep-sea scrap bookings at escalating prices despite weakening demand in the finished steel markets, sources said on Thursday December 3. A steel mill in northern Turkey booked a Baltic Sea cargo - comprising 15,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap, 15,000 tonnes of shredded and 3,000 tonnes of bonus - at average price of $365 per to...Read More
Here are five Fastmarkets stories you might have missed on Thursday December 3 that are worth another look.China's domestic prices for stainless cold-rolled coil dropped slightly over the week ended Wednesday December 2 on reduced demand and a weaker nickel market.The...Read More
Three-month base-metals prices on the London Metal Exchange were mixed at the 5pm close of trading on Thursday December 3, with nickel and aluminium showing drops of more than 1% but tin gaining by nearly $100 per tonne day-on-day.Nickel's price fell to $15,954 per tonne at Thursday's close, down by 0.3% from $16,000 per tonne on Wednesday, which in turn was down by 1.7% from Tuesday's three-month...Read More
Seaborne premium hard coking coal prices in both fob and cfr markets continued their uptrend on Thursday December 3, following an active trading day in the fob market the day before. Fastmarkets indices Premium hard coking coal, fob DBCT: $103.08 per tonne, up $0.75 per tonne Premium hard coking coal, cfr Jingtang: $168.78 per tonne, up $1.52 per tonne Hard coking coal, fob DBCT: $90.80 per tonne,...Read More
The London Metal Exchange aluminium price increased by 9.8% over November but the high price continues to tighten the forward curve.It hit a fresh year-to-date high of $2,080 per tonne on December 2, 12% higher than the start of November when the price was just $1,844.50 per tonne and up 46% from the 2020 low of $1,424.50 per tonne in April.The recent November rally was the first time the LME thre...Read More
New bookings of Commonwealth of Independent States (CIS)-origin billet to Turkey and Southeast Asia were heard at higher prices this week, with suppliers continuing to push for increases.Market participants in other regions retained their wait-and-see stance, sources told Fastmarkets on Thursday December 3.Billet offers were heard at $510-520 per tonne fob Black Sea from a few Russian suppliers; h...Read More
The domestic price for hot-rolled coil in Northern Europe moved up again day-on-day on Thursday December 3 due to a materials shortage in the market, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?570.00 ($688.49) per tonne on Thursday, up by ?,?4.23 per tonne from ?,?565.77 per tonne on December 2.The index was up by ?,?...Read More
Fastmarkets will amend the settlement criteria for its MB-AL-0001 aluminium P1020A (MJP) quarterly premium, cif Japan, $ per tonne.Following the end of a six-week consultation, Fastmarkets has decided to change the criteria for settling the quarterly premium to the following: A minimum total quarterly transaction volume of 30,000 tonnes reported to Fastmarkets MB. Confirmed deals from multipl...Read More
The London Metal Exchange aluminium price increased by 9.8% over November but the high price continues to tighten the forward curve.It hit a fresh year-to-date high of $2,080 per tonne on December 2, 12% higher than the start of November when the price was just $1,844.50 per tonne and up 46% from the 2020 low of $1,424.50 per tonne in April.The recent November rally was the first time the LME thre...Read More
The recent surge in copper prices might not lead to swathes of scrap being suddenly released into the market, as happened after a similar situation nearly a decade ago, sources told Fastmarkets this week. With the copper price recently reaching a multi-year high, all eyes are on whether scrap collectors will release a massive amount of secondary material into the rising market. In 2...Read More
The three-month base metals were range trading on the morning of Thursday December 3 on the London Metal Exchange amid a dollar index that continues to dip and support the overall high prices, although aluminium bucked the trend by falling by 1.1%. The three-month aluminium price was recently at $2,032 per tonne, having reached a $2,010 per tonne low during early trading compared with $2,055 per t...Read More
China's domestic prices for stainless cold-rolled coil dropped slightly over the week ended Wednesday December 2 on reduced demand and a weaker nickel market.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $15,906 per tonne, down by $122 per tonne $16,028 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (...Read More