Fastmarkets opened a consultation on October 1, 2020, inviting feedback on its non-ferrous materials methodology in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore markets continue to reflect the physical market. This i...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 11 that are worth another look.There were no expectations of material changes to the US steel market to arise in the short term as a result of Joe Biden taking office as United States president in 2021, Gerdau...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
A radical shake-up of the European Union's waste shipment regulations could lead to a total ban or the implementation of controls on scrap metal exports from the territory, Fastmarkets understands.The European Commission is reviewing EU rules on waste shipments to encourage more recycling within the EU and is exploring ways to reduce the exports of such materials.EU lawmakers have been m...Read More
Iron ore prices increased further in both the futures and seaborne markets on Wednesday November 11, sources told Fastmarkets, on support from decreasing steel inventories but physical prices at ports remained stable.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.56 per tonne, up $2.29 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.00 per tonne, up $2.26 per tonne58% Fe fines h...Read More
The London Metal Exchange three-month prices for copper, zinc and lead were on the rise on Wednesday morning while the market continues to sway between expectations of a Covid-19 vaccine, a Joe Biden presidency and the prospect of an economic downturn in Europe due to new lockdowns.The LME three-month lead price made the most significant gains over the morning from Tuesday's 5pm close with its pri...Read More
The waiting time for aluminium at Istim's warehouse in Port Klang, Malaysia rose to 71 days at the end of October, according to the London Metal Exchange's latest queue report.The queue is up from 61 days at the end of September at LME-approved Istim warehouses.There has been a queue for aluminium at Istim warehouses in Port Klang every month so far in 2020.Queues for aluminium continue to build i...Read More
Domestic prices for hot-rolled coil in Europe increased again in the week to Wednesday November 11, supported by tight supplies, sources told Fastmarkets."There is a shortage of HRC in the market," an Italian distributor told Fastmarkets. "Buyers are struggling to get material from either domestic or overseas mills and, naturally, [then] have to accept higher prices."Fastmarkets cal...Read More
Prices for hollow steel sections in Europe moved up this week following a prolonged upward trend in the cost of the hot-rolled coil used as feedstock, sources told Fastmarkets on Wednesday November 11.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?640-660 ($756-780) per tonne on Wednesday, up from ?,?630-650 per tonne one week earlier.The pri...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 11.Please click...Read More
Global zinc premiums were unchanged in the week to Tuesday November 10, with spot lead premiums also seeing only minimal trading activity.Zinc and lead premiums in the United States firmly supported by trucking costs Asian lead premiums stable with small trading volume European premiums flat ahead of 2021 contract negotiations US zinc, lead terms hold; high trucking costs support premiumsIn t...Read More
Base metals prices on the London Metal Exchange remained relatively flat over the trading day on Wednesday November 11, with the notable exception being lead, which increased by 1.3%.LME prices improved marginally over the day after holding up following Monday's news of a prospective Covid-19 vaccine from pharmaceutical company Pfizer. The LME lead price increased to $1,874.50 per tonne from...Read More
Premiums for nickel in the United States fell during the week to Tuesday November 10 amid a competitive spot market and bearish 2021 long-term contract talks, while premiums in Asia and Europe were flat.Intense spot market competition drags US briquette premium lowerNickel premiums in Shanghai unchanged while closed arb keeps long-term contracts cappedStrong London Metal Exchange nickel price dete...Read More
China's zinc smelters could follow their copper peers in forming a group to negotiate supply deals with international counterparts, after an increasingly volatile market for concentrates this year.Several smelter sources, speaking to Fastmarkets on condition of anonymity, said that talks were at a preliminary stage, but that discussions had started during the annual meeting of China's zinc and lea...Read More
The London Metal Exchange three-month prices for copper, zinc and lead were on the rise on Wednesday morning while the market continues to sway between expectations of a Covid-19 vaccine, a Joe Biden presidency and the prospect of an economic downturn in Europe due to new lockdowns.The LME three-month lead price made the most significant gains over the morning from Tuesday's 5pm close with its pri...Read More
There were no expectations of material changes to the US steel market to arise in the short term as a result of Joe Biden taking office as United States president in 2021, Gerdau chief executive officer Gustavo Werneck said on Wednesday November 11.Werneck also expected a metal spread recovery in the fourth quarter of this year, boosted in particular by steel beams, and he forecast stability for 2...Read More
Domestic prices for heavy steel plate fell again in Southern Europe in the week to Wednesday November 11,due to continuing poor demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?440-450 ($520-532) per tonne on November 11, down by ?,?5 per tonne week on week from ?,?445-455 per tonne.The assessment reflects achievabl...Read More
The improvement seen over the past week in demand for semi-finished steel products in Asia, and particularly in China, helped Iranian mills to achieve higher prices in recent billet and slab tenders, Fastmarkets has learnt.Fastmarkets' weekly price assessment for steel billet, export, fob ports Iran, was $415-420 per tonne on Wednesday November 11, against $407-411 per tonne the week before.Severa...Read More
The price of Europe-origin steel H-beams remained stable again this week following market jitters due to the progress of the Covid-19 pandemic on the continent, sources told Fastmarkets on Wednesday November 11.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-570 ($638-674) per tonne on Wednesday, unchanged since late September.Prices remained s...Read More
Turkish steel mills resumed their deep-sea scrap buying at higher prices, having secured more finished long steel and billet sales, sources said on Wednesday November 11.A steel mill in the Iskenderun region broke the silence in the deep-sea market late on November 10 with two fresh cargoes.The mill booked a Baltic Sea cargo, comprising 30,000 tonnes of HMS 1&2 (80:20) at $305 per tonne and 5,000...Read More