Indian domestic secondary billet prices increased slightly by end of the week to Friday October 29 on renewed buying interest and rising raw material prices.Fastmarkets' price assessment for steel billet domestic, ex-works India was at 46,500-46,700 rupees ($620.03-622.70) per tonne on Friday, up by 200 rupees compared with the previous week's assessment of 46,300-46,500 rupees per tonne ex-works....Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
Hot-rolled coil prices in the United States dipped for the third time in five days but still managed to end the week slightly above $95 per hundredweight ($1,900 per short ton), with sources questioning whether a "market correction" is at hand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.15 per cwt ($1,903 per ton) on Friday October 29, down by 0.45% from $95.5...Read More
The price of silicon in China has dropped several times over recent weeks, after setting a then-record price of $9,000-10,000 per tonne on September 24. Downstream demand then fell through October, clouding market confidence, and offer prices went lower and lower.Fastmarkets' weekly price assessment for silicon, export, 98.5% Si min, fob China, dropped to $5,000-5,500 per tonne on Friday October 2...Read More
A summary of production figures and financial results for Chilean state-owned copper producer Codelco in the first nine months of 2021, as stated in its earnings report released on Friday October 29.In brief Higher copper content in mined ore in the year to date offset a strike at the Andina division from August through September, boosting overall copper production in the first nine months of 2021...Read More
The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loa...Read More
Seaborne low-vol PCI prices in both the fob and cfr markets fell following the drop in thermal coal prices. And China's National Development & Reform Commission intervention, plus the news that stranded Australian coal was allowed to clear Chinese customs, have put market participants in a wait-and-see mode.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $608.12 per tonne, unchange...Read More
China's nickel sulfate price was unchanged in the week to Friday October 29, with minimal spot trading activity reported during the pricing period due to the weaker demand in the downstream precursor ternary market, Fastmarkets heard.Fastmarkets assessed the price of nickel sulfate, min 21%, max 22.5%; cobalt 10ppm max, exw China, at 35,500-36,000 yuan ($5,552-5,630) per tonne on Friday, unchanged...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Secondary alloy prices in the United States climbed again sharply on Thursday October 28, with strong demand, low supply and soaring raw material prices, especially for silicon, combining to drive transactions higher."Silicon is expensive and supply is tight," one producer said simply. "Alloy is very firm due to [the] spike in silicon prices and increasing manufacturing cost," a second...Read More
Brazilian pig iron sellers are more optimistic amid increased demand in global markets, but no deals have been heard in the country's main producing regions.Sellers have been closely watching the improvement in prices of scrap in Turkey and expect further upside. Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-510 per tonne on Friday October 2...Read More
The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
A summary of production figures and financial results for Chilean state-owned copper producer Codelco in the first nine months of 2021, as stated in its earnings report released on Friday October 29.In brief Higher copper content in mined ore in the year to date offset a strike at the Andina division from August through September, boosting overall copper production in the first nine months of 2021...Read More
Treatment charges for both zinc and lead concentrates on a cif China basis were steady over the two weeks to Friday October 29, with little trade in either market.The zinc spot concentrate TC, cif China, was assessed at $75-88 per tonne on Friday, unchanged since one month earlier.Clean cargoes were mostly sold in a narrow range of $80-85 per tonne, with prime brands remaining at the bottom of the...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 29.Susan Zou, Yingchi Yang and...Read More
The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...Read More
Base metals prices on the London Metal Exchange were broadly down on the morning of Friday October 29 following a brief rally on Thursday, however all but aluminium look set for a positive monthly close.Aluminum's three-month price was at $2,720 per tonne at 9am on Friday, down by 1% from $2,746.50 per tonne at Thursday's 5pm close. The light metal is the only LME base metal on course for a negati...Read More
Eastern China's rebar prices increased on Friday October 29 on rising end-user demand, narrowing this week's cumulative losses in comparison with those experienced last week.Domestic Eastern China (Shanghai): 5,220-5,250 yuan ($817-822) per tonne, up by 100-120 yuan per tonneNorthern China (Beijing) weekly assessment: 5,150-5,180 yuan per tonne, down by 90 yuan per tonneSpot prices in China's east...Read More
The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...Read More