The latest forecasts from Fastmarkets' team of analysts are ready to view.Key ferro-alloy forecast highlights for the coming months:?EUR? A strong recovery in both bulk and noble alloys is expected in 2021 but the markets are unlikely to return to the levels seen before the outbreak of the Covid-19 pandemic. We have seen a quicker-than-expected recovery across various regions amid the economic fal...Read More
Ferrous scrap prices in the main Mexican domestic markets increased in the week ended Friday November 27, with some companies applying increases in order to secure supply amid low availability and steady demand.Early last week, at least one company in the region near the northern city of Monterrey applied price increases, and afterwards some scrap sellers were able to achieve higher deals with oth...Read More
Turkish steel producers have continued to hold back from further deep-sea scrap purchases because of increasing prices, sources said on Tuesday December 1.The mills booked at least 10 deep-sea cargoes last week, and have since stepped back from the deep-sea markets.But market participants still expected them to book more cargoes, thanks to good demand for finished steel and billet, and improving p...Read More
A number of Chinese dealers and business entities are taking over Japanese scrapyards, or setting up scrap businesses in Japan, to secure sufficient supply of the steelmaking raw material for steel mills in China, market sources told Fastmarkets this week."Their main aim is to secure ferrous scrap supply for Chinese buyers when [China's] import ban is lifted and ferrous scrap is allowed to be impo...Read More
Canada's Lundin Mining anticipates higher copper and zinc output over the next three years, with growth expected at its operations in Chile (Candelaria), Brazil (Chapada) and Portugal (Neves-Corvo) in particular. In its three-year production outlook, published on Monday November 30, Lundin's full-year 2021 copper production guidance was set at 275,000-299,000 tonnes, jumping to 281,000-305,00...Read More
Base metals prices on the London Metal Exchange were once again mainly stronger this morning, Tuesday December 1, helped by strong Chinese Caixin manufacturing purchasing managers' index (PMI) data, but Shanghai Futures Exchange prices were more polarized.Chinese Caixin manufacturing PMI climbed to 54.9 in November, up from 53.6 in OctoberJapan's manufacturing PMI climbed to 49 in November, up fro...Read More
Spodumene producers have welcomed the Western Australia government's decision to temporarily grant royalty relief assistance for spodumene mines operating in the state as of Tuesday December 1.The government's relief scheme will be provided to Altura Mining, Galaxy Resources and Pilbara Minerals for up to 12 months or until the average realized price of spodumene concentrate is greater than or equ...Read More
Cobalt sulfate prices in China softened in the first half of last week but a firm cobalt raw materials market helped to limit the downturn.Fastmarkets' assessment for cobalt sulfate, 20.5% Co basis, exw China, was at 53,500-54,500 yuan ($8,129-8,281) per tonne on Friday November 27, unchanged from two days earlier, when it fell by 500 yuan per tonne (0.9%) from 54,000-55,000 yuan per tonne on Nove...Read More
Hot-rolled coil prices in the United States climbed over $40 per hundredweight ($800 per short ton) for the first time since 2018 after more buyers chased fewer spot tons at the domestic mills. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $40.44 per cwt ($808.80 per ton) on Tuesday December 1, up by 1.53% from $39.83 per cwt on Monday November 30 and an increase of...Read More
Domestic hot-rolled coil prices in Northern Europe went up day on day on Tuesday December 1, due to a shortage of material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?563.75 ($671.26) per tonne on Tuesday, up by ?,?2.60 per tonne from ?,?561.15 per tonne on November 30.The index was up by ?,?18.70 per tonne week o...Read More
Flat steel import prices in the United Arab Emirates (UAE) and Saudi Arabia have increased over the past week because of globally strong demand, although this was moderated in the UAE because of a holiday, sources said on November 30 and December 1.The UAE has a national holiday on December 1-3, so the number of working days were limited in the country this week.UAEOffer prices for hot-rolled coil...Read More
Brazilian steelmaker Gerdau has concluded its acquisition of Sider??rgica Latino-Americana (Silat), a long steel producer located in the northeastern state of Cear??, after gaining approval from anti-trust regulator Cade, the company said on Tuesday December 1.Silat has capacity for 600,000 tonnes per year of long steel products, mainly rebar and wire rod. Gerdau had first reached an agreement in...Read More
Steel billet and rebar prices in the United Arab Emirates increased over the week to November 30 while demand was strong, sources told Fastmarkets.Domestic rebarThe country's steel producers were offering rebar at 1,984-1,985 dirhams ($540) per tonne ex-works orders to be produced in December, but only few producers had allocation for December production.Deals were heard made at around 1,950...Read More
The export market for long steel products from the Commonwealth of Independent States increased again in the week to Monday November 30 supported by long lead times and a global steel market uptrend. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), export, fob Black Sea, CIS was $540 per tonne on Monday, up from $490 per tonne fob a week earlier. Offers for Russia-origi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 1 that are worth another look.The mining industry must apply the correct cultural mindset to its operating principles in order to avoid any repeat of tragic events such as the destruction of one of Australia's...Read More
Ferrous scrap prices in the main Mexican domestic markets increased in the week ended Friday November 27, with some companies applying increases in order to secure supply amid low availability and steady demand.Early last week, at least one company in the region near the northern city of Monterrey applied price increases, and afterwards some scrap sellers were able to achieve higher deals with oth...Read More
No changes were reported in the premium for direct-reduced (DR) iron ore pellet for the fourth quarter of 2020, although sources told Fastmarkets they expect growth in the first quarter of 2021 on strong demand.Fastmarkets' iron ore DR-grade pellet premium to 65% Fe fines index, Middle East reference was $24 per tonne on Monday November 30, unchanged month on month.Fastmarkets' index for iron ore,...Read More
The export price for steel slab from the Commonwealth of Independent States (CIS) increased again during the week to Monday November 30, mainly because of the continued uptrend in the hot-rolled coil market, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel slab, export, fob Black Sea, CIS, was $525-535 per tonne on November 30, up from $485-495 per tonne a week earlier.Slab off...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Key ferro-alloy forecast highlights for the coming months:?EUR? A strong recovery in both bulk and noble alloys is expected in 2021 but the markets are unlikely to return to the levels seen before the outbreak of the Covid-19 pandemic. We have seen a quicker-than-expected recovery across various regions amid the economic fal...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 26 that are worth another look.Italian steel unions have expressed growing concerns over the future of the Taranto steel plant and jobs in the city, with ArcelorMittal Italia expected to soon agree to a deal that would...Read More