The first deal for the supply of aluminium to main Japanese ports (MJP) for the first quarter of 2021 has concluded at a premium of $125 per tonne cif MJP, multiple sources told Fastmarkets on Monday November 30. The deal was for 6,000-9,000 tonnes of aluminium ingot in total for January-March delivery, with 2,000-3,000 tonnes to be delivered each month, and is on top of the London Metal Exchange...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers' index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.Chinese manufacturing PMI climbed to 52.1 in November, up from 51.4 in OctoberChinese non-manufacturing PMI climbed to 56.41 in November, up from 56.2 in OctoberBase metals The t...Read More
The price of hot-rolled coil in the United States has reached its highest level in over two years, Fastmarkets has learned. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $39.83 per hundredweight ($796.60 per ton) on Monday November 30, up 2.1% from $39 per cwt on Wednesday November 25 and an increase of 2.7% from $38.80 per cwt one week earlier. Inputs were received...Read More
Brazilian steelmakers will raise the domestic price for long steel products such as rebar by an average of 12% in December, market participants have told Fastmarkets.This will make it the sixth consecutive month of higher prices in Brazil, because of the quick demand recovery from 2020 lows caused by the Covid-19 pandemic. Long steel producers increased prices by around 10% in November.Fastmarkets...Read More
Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on Monday November 30."Negotiations are continuing between the Italian government and ArcelorMittal and a further 10 days are needed [before they] sign the final agreement, after a letter of intent [was] signed today," Fiom-Cgil said."Today wa...Read More
The Brazilian steel sector expects to negotiate exemptions for its exports from the Section 232 measures imposed by the United States once President-Elect Joe Biden takes office next January, according to national steel association A??o Brasil."With the new administration [in the US], we expect to have some room to negotiate again the exemption of [Brazil-origin] steel products from the Section 23...Read More
Turkey's imports of flat steel products decreased by 9.08% year-on-year in October 2020, according to figures from the Turkish Statistical Institute (TUIK).The country imported 545,533 tonnes of flat steel in the month, compared with 600,015 tonnes in the corresponding month of 2019, the statistics published on Monday November 30 showed.Most of the imports delivered to Turkey in October...Read More
Steel slab export prices from Brazil remained stable in the week ended Friday November 27, with few volumes available and buyers adopting a wait-and-see stance after recent price increases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $515-540 per tonne on November 27, unchanged from the previous week.Offers of slab to the United States were reported around...Read More
Turkish domestic scrap prices continued to increase over the past week because of the rising costs for imported scrap, sources said on Monday November 30.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,600-2,645 lira ($330-336) per tonne on Monday, up from the 2,250-2,545 lira per tonne of last week.Long and flat steelmaker ??olakoglu and...Read More
Turkish steel mills made no deep-sea bookings on the first working day of the week amid increasing prices, but were still active in the billet import markets, sources said on Monday November 30.After booking at least ten deep-sea cargoes last week, the mills stepped back from the deep-sea markets. But market participants believe they will still need material given current stock levels."The Turkish...Read More
Brazilian iron ore producer Vale has been granted an installation license to resume and expand operations at the Serra Leste unit, which has been halted since January last year, the company said on Friday November 27.Serra Leste, located in Brazil's northern state of Par??, has capacity to produce 6 million tonnes per year of iron ore and reached its permitted exploration area at the beginning of...Read More
Seaborne premium hard coking coal prices in both the fob and cfr markets edged up on Monday November 30, while sources from China said that Australian coking coal cargoes in anchorage were still unable to be unloaded. Fastmarkets indicesPremium hard coking coal, fob DBCT: $101.40 per tonne, up $0.33 per tonnePremium hard coking coal, cfr Jingtang: $165.03 per tonne, up $1.03 per tonneHard coking c...Read More
Seaborne iron ore prices continued on an uptrend on Monday November 30, supported by strong demand for steel products. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $131.63 per tonne, up $2.01 per tonne 62% Fe low-alumina fines, cfr Qingdao: $131.39 per tonne, up $1.55 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $123.12 per tonne, up $1.74 per tonne 65% Fe Brazil-origin fines...Read More
Traders are getting bolder in taking rebar positions in the Singapore import market amid the continued rise in long steel prices in Asia, sources said.A transaction was concluded at $517 per tonne cfr Singapore on a theoretical weight basis for Turkish rebar by a Europe-headquartered trader, a buyer source said. The quantity for the February-shipment cargo could not be confirmed.The is in line wit...Read More
Prices for seaborne iron ore concentrate and pellets inched up in the week to Friday November 27 amid increased demand for concentrate and tightened supply of pellets, market sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $138.07 per tonne, up $0.68 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $158.77 per tonne, up $0.81 per tonne.Key driversMarket sou...Read More
The Standardization Administration of China approved on Sunday November 29 new domestic steel scrap classification standards that are expected to be rolled out by the end of this year, replacing the previous standards.The standard-making committee had released a draft of the new standards for ferrous and stainless scrap late last month.The new specifications are as follows:Heavy recycled steel mat...Read More
Key data from Fastmarkets' pricing session on Monday November 30.Key drivers Some sellers see briquettes trading at a premium to other metal products but consumers cannot accept such levels, given the additional processing costs...Read More
The tantalum concentrate market rebounded on Friday November 27, after hitting its lowest level so far in 2020 last week, due to a return of some consumer activity in the spot market. Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China at $50-55 per lb on Friday, up from the previous week's assessment of $48-50 per lb. The market is now trading at its highest in two mo...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More