Italian re-rollers had to increase their official offer prices for heavy steel plate over the week to Wednesday November 25 due to a sharp rise in imported slab costs, sources have told Fastmarkets.Official offers for domestic heavy plate in Italy were heard at ?,?540-550 ($641-653) per tonne ex-works, about ?,?40-50 per tonne higher than the offers heard in the market."Italy now is [expecting to...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 25 that are worth another look.Russian steelmaker Metalloinvest, which is the largest global supplier of hot-briquetted iron (HBI), may increase its shipments of the material by 10% by early 2023.Global copper scrap metal suppliers are now hesitant to...Read More
The London Metal Exchange three-month copper price continued its quest for record numbers on Wednesday November 24,while zinc suffered a dip in fortunes.Copper came closer to its June 2018 high of $7,304 when it reached $7,300 at the 5pm close, a rise of 0.09% from Tuesday's closing price of $7,293. During morning trading on Wednesday, however, copper's three-month price had already surpassed...Read More
A high nickel price, among other factors, has subdued the nickel briquette premium in the United States while nickel premiums in China and Europe hold steady amid scant spot trade, sources told Fastmarkets on Tuesday November 24.Low producer offers reportedly sent US briquette premiums down againChinese premiums steady with a lack of trading activity Thin trading leaves European premiums unmoved a...Read More
Spot lead premiums rose in the United States this week while lead premiums are coming under pressure in India following a surge in the commodity price, sources told Fastmarkets on Tuesday November 24. London Metal Exchange on-warrant zinc stock in Singapore sheds dropped by 6,900 tonnes from a week ago to 67,525 tonnes on November 24. Overall "live" stock is down by 7,550 tonnes in the past one we...Read More
Domestic prices for hot-rolled coil in Europe moved up again in the week to Wednesday November 25, due to a materials shortage, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?550.45 ($653.19) per tonne on Wednesday, up by ?,?5.40 per tonne day on day from ?,?545.05 per tonne on Tuesday.The index was up by ?,?12.53 pe...Read More
The price for steel H-beams in Europe moved up this week when producers' ambitions for price increases were supported by a recent rise in feedstock costs, sources told Fastmarkets on Wednesday November 25.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-580 ($653-688) per tonne on Wednesday, up from ?,?550-570 per tonne one week before.A more re...Read More
The US government rejected a permit application for Northern Dynasty's Pebble Mine on Wednesday November 25, a move which it was said would probably scuttle the controversial project in Alaska.The US Army Corps of Engineers said that it "determined that the applicant's plan for the discharge of fill material does not comply with Clean Water Act guidelines, and concluded that the proposed project.....Read More
Canada's Hudbay Minerals has resumed full production at its 777 copper-zinc mine at Flin Flon, Manitoba, the company said on Wednesday November 25. Operations were halted in early October after a skip-hoist incident damaged the mineshaft. No one was injured in the incident on October 9 and Hudbay temporarily reassigned staff to its Lalor mine, near Snow Lake, more than 200 ...Read More
A high nickel price, among other factors, has subdued the nickel briquette premium in the United States while nickel premiums in China and Europe hold steady amid scant spot trade, sources told Fastmarkets on Tuesday November 24.Low producer offers reportedly sent US briquette premiums down againChinese premiums steady with a lack of trading activity Thin trading leaves European premiums unmoved a...Read More
Aluminium producer Norsk Hydro's Husnes plant in Norway is on its way back to full production for the first time in more than 10 years, after production resumed at the Husnes B line on Tuesday November 24.Hydro Husnes produces about 95,000 tonnes per year of aluminium via the A line. This will gradually increase to around 195,000 tpy with the 200 electrolysis cells in the one-kilometer-long B line...Read More
Spot lead premiums rose in the United States this week while lead premiums are coming under pressure in India following a surge in the commodity price, sources told Fastmarkets on Tuesday November 24. London Metal Exchange on-warrant zinc stock in Singapore sheds dropped by 6,900 tonnes from a week ago to 67,525 tonnes on November 24. Overall "live" stock is down by 7,550 tonnes in the past one we...Read More
Hot-rolled coil prices in the United States have remained broadly steady ahead of the national Thanksgiving holiday, although market participants anticipated further increases given recent mill announcements and supply concerns headed into 2021.Fastmarkets daily steel hot-rolled coil index, fob mill US was calculated at $39 per hundredweight ($780 per short ton) on Wednesday November 25, nearly fl...Read More
Iskenderun Demir Celik (Isdemir), a subsidiary of Turkey's biggest steel producing group Erdemir Group, has started planned maintenance at its blast furnace no 2. The maintenance will last 44 days starting from Tuesday November 24 and is not expected to have a major effect on the company's output, Isdemir said. Isdemir produces steel billet, slab, wire rod and hot-rolled coil at its facility in Is...Read More
Prices for hollow steel sections in Europe moved up this week following a continued rise in feedstock costs and a lack of imports, sources told Fastmarkets on Wednesday November 25.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?660-680 ($783-807) per tonne on Wednesday, up from ?,?640-660 per tonne one week previous.The availability of hot rol...Read More
The price rise in the CIS steel billet export market has temporarily stopped because sentiment in Asia has subsided, although mills have kept their offer prices high, sources told Fastmarkets on Wednesday November 25.Offers of steel billet from Russian and Ukrainian mills were heard within the range of $470-500 per tonne fob on Wednesday this week, little changed from Tuesday.Most mills were offer...Read More
Iran's export prices for steel billet and slab continued to rise over the week to Wednesday November 25, and new deals were expected to be made soon, Fastmarkets has learnt.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $440-445 per tonne on November 25, rising from $430-438 per tonne on November 18.Last week, billet was sold at $425-438 per tonne fob Iran.No de...Read More
CME Group's busheling futures contract traded a total of 198 lots (3,960 tons) on Tuesday November 24.The front-month December contract was unchanged from the previous session at $352 per ton but traded three lots at $350 per ton, one lot at $351 per ton and one lot at $352 per...Read More
Stainless steel scrap prices in the United States have maintained their upward momentum, with processors and dealers reporting that they were thankful for rising prices - despite continued tight supply - ahead of the US Thanksgiving holiday, celebrated Thursday November 26."Even with higher prices, we are having trouble keeping the flow of scrap into the yard. What is out there is being fought har...Read More
Export appetite for US deep-sea ferrous scrap cargoes was muted in the week to Wednesday November 25 despite a spate of activity at the beginning of the month.Still, market sources were quick to point out underlying market strength, with reported container shortages and rising ocean freight rates expected to bolster the export market in the near future. No cargo sales booked from the US East Coast...Read More