The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Flat product prices in the US moved largely in line with our expectations in October, posting impressive gains across the product range, and slightly exceeding our forecasts for coil products.Domestic hot-rolled coil prices averaged $722 per tonne in October, exceeding our forecast of $705 per tonne forecast price.Although w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Approaching the end of the calendar year, steelmakers and consumers enter a busy period of contract negotiations for supply for 2021 or at least the first quarter or half year.With the sharp increases in spot market steel prices during recent months, steelmakers are understandably looking to take advantage and secure higher c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US ERW OCTG edges higher, seamless could followRising substrate costs helped support US ERW OCTG prices this month, especially at the upper end of the range of offers. Seamless OCTG and linepipe prices, meanwhile, held firm compared with September prices. The fundamentals remain weak, with rig counts going up...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for most ferro-alloys maintained their upward momentum into October, solidifying previous gains and reflecting the improved demand from steelmakers, the rebuilding of depleted inventories, and the supply-side concerns following both planned and unplanned outages. Gains were noted for ferro-silicon, silicon metal, mang...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloys forecast highlights:Prices across most ore and alloy markets trended higher in September, buoyed by improving demand from steelmakers with the end of the summer holiday season in Europe and the United States, as well as maintained demand from Chinese steel mills. Tightening of alloy inventories...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore remains the most bullish commodity of the year, with prices fuelled by Chinese demand and supply disruptions in Brazil, along with bullish sentiment. But prices are expected to come down because Brazilian exports have begun to recover, and have reached their highest level since the Brumadinho dam disaster in 2019. W...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.We do not consider the average iron ore fines price for September so far above $125 per tonne cfr Qingdao to be sustainable. The bullishness is not likely to last in the long term as we expect Chinese demand growth to slow down. A key factor boosting Chinese steel demand so far has been the stimulus policies from the authori...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More
Domestic prices for steel hot-rolled coil increased in Northern Europe in the week to Friday November 13, due to good order books at European mills amid long lead times and limited offers of imported coil.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?525.10 ($621.33) per tonne on November 13, up by ?,?12.57 per tonne week on week and by ?,?31.35...Read More
The London Metal Exchange copper three-month price continued to break records on Monday November 16, with more than 30,000 lots of the metal exchanged by 5pm, a volume last reached in March 2020.Copper's three-month price opened at $7,142.50 per tonne on Monday, its highest since June 2018. The red metal's three-month price at the end of the day was $7,108.50 per tonne, a 1.8% increase from Friday...Read More
Fifteen countries signed up to the Regional Comprehensive Economic Partnership at the annual summit of the Association of Southeast Asian Nations (Asean) on Sunday November 15.The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 members of Asean plus Australia, China, Japan, New Zealand and South Korea. Together, the participating nations account for about 30% of global gross do...Read More
The International Aluminium Institute (IAI) has launched a roadmap to maximize alternative uses for bauxite residue to significantly reduce the waste material's social, environmental and economic impact, it said.Bauxite residue, also known as bauxite tailings or red mud, is a highly alkaline waste product composed mainly of iron oxide generated in the production of alumina. According to the IAI, b...Read More
The London Metal Exchange three-month copper price rose the most across the complex on Monday November 16 amid news of China's industrial output rising by 6.9% year on year. Copper's three month price rose by 2.4% on Monday morning compared with Friday's 5pm close, reaching $7,142.50 per tonne as of 9am. There was a staggering 16,000 lots traded in the morning session alone, although some analysts...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses exhibited mixed movements in the week to Friday November 13, with lead topping the gains in percentage terms while copper led the declines.SHFE lead stocks increased to 33,957 tonnes as of Friday, up by 7,396 tonnes (27.8%) from 26,561 tonnes a week prior. The largest inflow of the heavy metal this past week occurred a...Read More
A strong recovery in end demand for copper products in the third quarter of 2020 has boosted the copper industry in the United States, though the escalating number of coronavirus cases remains the biggest risk for the financial health of the world's largest economy.The Covid-19 pandemic, which continues to ravage the country, poses unique challenges, but has also opened new avenues for demand grow...Read More
The beginning of registration of hot-rolled flat steel imports from Turkey into the EU will make it possible to "avoid opportunistic import surges ahead of the imposition of later duties," European steel association Eurofer said on Monday November 16.The European Commission (EC) on November 13 made imports of HR flat steel from Turkey subject to registration upon arrival into the EU, allowing Euro...Read More