The prevailing backwardation of London Metal Exchange tin prices continued to encourage lower offer prices in Europe and the United States, with premiums falling stateside on November 2, while premiums in Taiwan were steady despite the ongoing destocking of LME inventories. In-warehouse premiums in Rotterdam and Baltimore drop slightly amid more supply and lower offersLME stocks at 645 tonnes...Read More
Turkish steel producers have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Wednesday November 3.A steel mill in the Marmara region booked a Baltic Sea cargo of HMS 1&2 (80:20) at $490 per tonne cfr - although the volume was not clear at the time of...Read More
Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association said on Monday November 1.The US authorities made theannouncement, on Saturday October 30."We welcome the announcement of the agreement which could be the starting point of a ne...Read More
Europe's domestic prices for heavy plate rose sharply in the week to Wednesday November 3 due to strong demand and surging production costs, sources told Fastmarkets.Energy prices have increased substantially across Europe, adding pressure on steel prices. A number of producers that have long-term agreements for electricity will have to renegotiate new contracts starting in January 2022, sources s...Read More
China's domestic rebar prices tumbled further on Wednesday November 3, which stimulated demand. Domestic Eastern China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, down by 130 yuan per tonneRebar sellers lowered their offers in the morning on a weak futures market, a trader in Shanghai said. The January rebar futures contract on the Shanghai Futures Exchange was lower...Read More
Export prices for steel billet and slab from Iran have decreased in the latest deals during the week ended Wednesday November 3.The country's semi-finished steel product export market was slow last week because of decreasing prices in China.Some 40,000 tonnes of slab was sold to Southeast Asian buyers...Read More
Seaborne coking coal prices across the board in both cfr and fob markets were relatively flat on Wednesday November 3.Fastmarkets indices Premium hard coking coal, cfr Jingtang: $600.88 per tonne, up $0.63 per tonne Hard coking coal, cfr Jingtang: $525.23 per tonne, unchanged Premium hard coking coal, fob DBCT: $403.57 per tonne, unchanged Hard coking coal, fob DBCT: $339.59 per tonne, unchang...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 3.Please click...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
Nickel premiums remained steady in the United States, China and Europe in the week to November 3, although tight supplies and growing production disruptions are keeping prices high in the US. US nickel premiums hold at historic highsChinese premiums also stable with increased full plate imports into ChinaPremiums unchanged in Europe, with market focusing on contracts for 2022US premiums still at h...Read More
Prices in the market for steel billet exports from the Commonwealth of Independent States region reduced on Wednesday November 3 due to cautious buyers, sources told to Fastmarkets.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS was $646 per tonne, down by $7 day on day."Scrap prices in Turkey [the...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More
Steel scrap buyers in Taiwan were bearish about the containerized scrap market, expecting to book cargoes at lower prices in the short term, market sources told Fastmarkets on Wednesday November 3. Taiwan secures lower-priced cargoesVietnam reports lower offersChina prices continue downtrend amid bearish sentiment in local marketTaiwanTaiwanese buyers have secured containerized heavy melting scrap...Read More
Seaborne coking coal prices across the board in both cfr and fob markets were relatively flat on Wednesday November 3.Fastmarkets indices Premium hard coking coal, cfr Jingtang: $600.88 per tonne, up $0.63 per tonne Hard coking coal, cfr Jingtang: $525.23 per tonne, unchanged Premium hard coking coal, fob DBCT: $403.57 per tonne, unchanged Hard coking coal, fob DBCT: $339.59 per tonne, unchang...Read More
Prices for Japanese bulk shredded scrap have tumbled over the last week amid a drop in intake from a major Japanese blast furnace (BF)-based mill and discounted sales to South Korea.In late September, sources told Fastmarkets that shredded demand at BF-based mills had benefitted greatly from the tight supply of Shindachi prime scrap, but a reduction in shredded purchase volumes in recent weeks has...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More
Chilean copper production decreased by 6.75% in September, compared to the same month in 2020, with all major mines in the country reporting lower figures, copper commission Cochilco said on Wednesday November 3.In September, some Chilean producers like Codelco faced workers' strikes, while a few also had drought issues and reported lower content in mined ore. These caused lower output during the...Read More
Turkish steel producers have continued their deep-sea scrap purchases at fairly stable prices, market participants told Fastmarkets on Wednesday November 3.A steel mill in the Marmara region booked a Baltic Sea cargo of HMS 1&2 (80:20) at $490 per tonne cfr - although the volume was not clear at the time of...Read More
Replacing Section 232 tariffs on European aluminium products with tariff-rate quotas will result in even more trade distortions and create additional market instability for companies in both Europe and the United States, the head of industry association European Aluminium has said.The United States and the European Union (EU) reached an agreement over the weekend to replace the 10% tariff on...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More