The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday......but major western equity indices are weaker this morning, suggesting some concern about the...Read More
An overview of the consumer electronics markets and their latest price moves.Fastmarkets has reworked the market reports...Read More
Prices for hollow steel sections in Europe remained unchanged over the past week, despite the continuing feedstock shortage, sources told Fastmarkets on Wednesday November 18.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?640-660 ($759-783) per tonne on Wednesday, flat week on week.The price of the feedstock material, hot-rolled coil, has mov...Read More
Shanghai nickel premiums fell in the week to Tuesday November 17 while rates on briquette in the United States again succumbed to pressure from intense competition for business in the spot market.Chinese premiums fall as arbitrage losses worsenDeclining spot offers push US briquette premium lowerEuropean buyers see ample supply; ride out LME volatilityShanghai full-plate premiums fall, their first...Read More
US tin premiums rose in the week to Tuesday November 17, buoyed by a surge in LME prices, tight supply and resurgent spot demand. US premiums climb for first time since Sept 22 Price swings convince European market participants to adopt wait-and-see stanceChina market stagnant amid big discounts, scant import activityUS offers increaseTin premiums rose in the United States on reduced supply, a par...Read More
Alba chief executive officer Ali Al Baqali tells Fastmarkets special correspondent Andrea Hotter about his long and hard path to the top and outlines the company's strategy in the current challenging global climate for primary aluminium producers.Ali Al Baqali was fishing with his brother-in-law when he noticed a large silo structure in a terminal at a distance. He could make out a logo on the sid...Read More
Italian supercar maker Ferrari is the latest automotive producer to announce it is pushing toward a greater electrification of automobiles.Ferrari is one of the few supercar makers that has committed to producing hybrid supercars in a niche industry, which is usually dominated by roaring internal combustion engines, with its new SF90 Spider and current SF90 Stradale using a plug-in hybrid pow...Read More
The London Metal Exchange three-month zinc price rose 2% on Wednesday November 18 morning following the news of the Vedanta zinc mine collapse in Gamsberg, South Africa.The price for the galvanising metal went up to $2,744.50 per tonne at 9am on Wednesday, up from $2,689.50 per tonne on Tuesday's 5pm close. Zinc's three-month price reached a peak of $2,770 per tonne following news of the mine coll...Read More
Vedanta has suspended production at its Gamsberg zinc mine in South Africa following a collapse of the open pit there.In the early hours of Tuesday November 17 a portion of the mine's south pit wall collapsed, trapping ten workers, eight of whom have been extricated with a search and rescue mission ongoing, the company confirmed to Fastmarkets on...Read More
Galvalume prices in the United States surged to a nearly two-year high this month as a result of spiking demand outstripping supply - and that trend is expected continue through the first quarter of 2021, market participants said."The trend is scary," a producer said. "There's a shortage of Galvalume - shortage is a scary word." Fastmarkets assessed the price for steel coil Galvalume, fob mill US...Read More
The price range for steel H-beams in Europe narrowed upward over the past week, with producers' ambitions for further increases supported by a rise in feedstock costs, sources told Fastmarkets on Wednesday November 18.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?550-570 ($653-676) per tonne on Wednesday, up from ?,?540-570 per tonne one week bef...Read More
Iran's export prices for steel billet and slab kept increasing over the week to Wednesday November 18, with several billet export deals heard, Fastmarkets learned.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran was $430-438 per tonne on Wednesday November 18, against $415-420 per tonne the week before.Several cargoes of billet were reported sold at around $425-430 per...Read More
Producers of steel mesh-quality wire rod in the north of Europe achieved higher prices in the week to Wednesday November 18, with their offer prices backed by long lead times and an uptrend in the international scrap trade, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, increased to ?,?490-500 ($581-593) pe...Read More
Steel wire rod producers in the south of Europe were looking for higher prices this week amid short supply and good order books, with buyers resisting new increases, sources told Fastmarkets on Wednesday November 18.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?480-490 ($569-581) per tonne on Wednesday, however, unchanged from th...Read More
Turkish steel mills have remained out of the market for a third consecutive day this week although offer prices have now moved higher than in previous deals, sources told Fastmarkets on Wednesday November 18.Turkish steel mills extended their silence in the deep sea scrap market for a third day, but offer prices were reported to have jumped in anticipation of the next purchases....Read More
Rising demand for steel scrap in the Japanese domestic market was inflating export prices for the material, market participants told Fastmarkets on Wednesday November 18.Export deals for Japanese H2 scrap to South Korea were concluded at ?30,500 ($292) per tonne fob late last week, including one transaction for 40,000 tonnes of material.Vietnamese buyers purchased H2 at $328 per tonne cfr late la...Read More
Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More
Seaborne premium hard coking coal fob and cfr prices diverged on Wednesday November 18 due to the ongoing restriction on Australian coking coal, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $98.87 per tonne, down $1.51 per tonnePremium hard coking coal, cfr Jingtang: $156.23 per tonne, up $1.90 per tonneHard coking coal, fob DBCT: $91.78 per tonne, down $3.72 per tonneHard c...Read More
China's domestic rebar prices lost upward momentum on Wednesday November 18, reflecting losses in futures ahead of the revision of regulations on the Shanghai Futures Exchange (SHFE) relating to limits on price fluctuations.DomesticEastern China (Shanghai): 4,130-4,160 yuan ($629-634) per tonne, unchangedThe SHFE will lower the fluctuation limit on its rebar contracts to 5% from 6% previously from...Read More
China's hot-rolled coil prices were largely stable on Wednesday November 18, having strengthened continually in the first two days of this week. Several producers are reported to be operating at close to capacity to capitalize on the bullish market.DomesticEastern China (Shanghai): 4,110-4,120 yuan ($626-627) per tonne, narrowed by 10 yuan on both endsSellers kept prices high despite a weakening o...Read More