Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 27EuropeThe European ferro-silicon spot price climbed almost 2% over the week, marking an over 10% jump in November while low levels of availability in Europe have met with renewed demand from steelmakers and traders.One producer reported offering around 100 tonnes of standard grade at ?,?1...Read More
With just 35 days remaining until the United Kingdom withdraws from the European Union, the country's potential departure from the EU single market could see its domestic aluminium scrap market face business-critical trade barriers that, according to market participants, would send the UK's scrap industry hurtling backwards.The EU's import duties range from 3% to 6% for aluminium products from non...Read More
The supply tightness for imported containerized ferrous scrap has led prices to continue up in the week to Friday November 27, even though buyers are increasingly balking at the high offers, market sources told Fastmarkets.Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was $317-320 per tonne on Friday November...Read More
Vietnamese scrap buyers have continued sourcing import cargoes amid supply tightness and stable demand in the week to Friday November 27, market sources told Fastmarkets. Japanese H2 cargoes were offered at $350-355 per tonne cfr Vietnam in the earlier part of the week, with a transaction heard concluded at $345 per tonne cfr Vietnam for 8,000 tonnes to south Vietnam. Bids later increased to as hi...Read More
The Chinese domestic battery-grade lithium carbonate price moved up by 2.4% on Thursday November 26, resuming the uptrend that began in mid-October as a result of resolutely high offers from producers and tight spot supply.Bullish sentiment and high offer prices push China's battery-grade lithium carbonate assessment up again. China's industrial-grade lithium carbonate prices also moved up on tigh...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 26 that are worth another look. British Steel plans...Read More
Copper's three-month price finished above $7,400 per tonne at the 5pm close of trading on Thursday November 26, taking the base-metals complex on an uptrend across the board.The red metal closed at 5pm on Thursday at $7,402.50 per tonne, the highest since January 2, 2014, when it hit $7,460 per tonne. It was seen at $7,412 per tonne during the day.The high point for copper was the result of a 2.8%...Read More
The London Metal Exchange three-month copper price reached a near seven-year high during morning trading on Thursday November 26, hitting $7,410 per tonne at one point and taking the complex on an incline with it.The LME three-month price for the red metal was at $7,372 per tonne as of 9:05am, but its high of $7,410 per tonne in early trading meant it had surpassed prices last reached in January 2...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 25. Key drivers Traders reported difficulty finding available material in both Asia and Europe amid higher offers from producers and increasing freight costs. Although demand continues to be limited in Europe, traders said it would be unprofitable...Read More
Fastmarkets proposes to change the publication day of its four China minor metals price assessments from Wednesday to Friday, 2-3pm London time. This proposed change will apply to the following price assessments:Antimony MMTA standard grade II, ddp China, yuan/tonne Gallium 99.99% Ga min, in-whs China, yuan/kg Germanium 99.999% Ge min, in-whs China, yuan/kg Indium 99.99%, exw China, yuan/kg T...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 26 that are worth another look. British Steel plans...Read More
The Turkish steelmakers have continued to make deep-sea scrap purchases at rising prices thanks to firm demand in the country's export markets for finished steel products, sources said on Thursday November 26.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $345 per tonne and 4,000 tonnes of bonus at $355 per tonne cfr.The same mill booked...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More
Markets were generally buoyant this morning, Thursday November 26, with more certainty on the horizon than of late, helped by US president-elect Joe Biden's transition to the White House and with a rollout of the vaccines now insight, if things go according to plan.Optimism pushes current economic and health problems to the backgroundUK Chancellor warns of biggest contraction in 300 yearsBase meta...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday November 25, due to a combination of low availability, good demand and higher feedstock prices, sources told Fastmarkets during the week.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?660-680 ($786-810) per tonne ex-works on Wednesday, up by ?,?30-35 per tonne fro...Read More
Domestic prices for hot-rolled coil in Northern Europe increased again day on day on Thursday November 26, due to a materials shortage, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?561.25 ($668.17) per tonne on Thursday, up by ?,?10.80 per tonne day on day from ?,?550.45 per tonne on Wednesday.The index was up by ?...Read More
China's hot-rolled coil prices continued to gain after hitting a two-year high earlier this month, triggered by inventory losses, sources told Fastmarkets on Thursday November 26.DomesticEastern China (Shanghai): 4,150-4,160 yuan ($631-632) per tonne, up 20 yuan per tonneTrading activity picked up on Thursday after buyers slowed their purchasing activity earlier this week, with some buye...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 26 that are worth another look. British Steel plans...Read More
Turkish domestic long steel prices have continued to increase over the week to Thursday November 26 on the back of rising imported scrap costs. Turkish steel mills have been booking deep-sea scrap cargoes in the past week at increasing prices to fulfil growing demand for long steel products in the export markets. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Tu...Read More
British Steel has revealed its intentions to increase capacity at its Skinningrove special steel profiles plant in the UK amid improving end-user demand, the company said on Thursday November 26.The company is looking to recruit 41 people into manufacturing roles at its business in Skinningrove to meet the increasing demand for its products, it said.New hires will also enable the company...Read More