Seaborne coking coal prices were largely stable on Friday February 28, although some market participants in China said that a correction was likely due to rising concerns about the global macroeconomic situation given the spread of the novel coronavirus (2019-nCoV) outside China. Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.05 per tonne, unchangedPremium hard coking coal, cfr J...Read More
Seaborne iron ore prices dropped further on Friday February 28, with concerns about mills' margins emerging among Chinese buyers as global macroeconomic sentiment continued to plummet.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.96 per tonne, down $1.76 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.09 per tonne, down $1.55 per tonne.58% Fe fines high-premium, cfr Qingdao: $72....Read More
A surge in Chinese high-carbon ferro-chrome production last year led to a jump in buying interest for chrome ore, resulting in a significant build-up of ore inventories in the country that is dampening market sentiment. At the same time, the increased output among Chinese ferro-chrome smelters is exceeding demand from the downstream stainless steel sector and is putting pressure on China's market...Read More
The price of ferrous scrap imported into India was broadly stable in a lackluster market this week, due to ongoing global fears over the spread of the novel coronavirus (2019-nCoV) and the linked rise in container freight rates, sources told Fastmarkets on Friday February 28.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $305.66 per tonne on Friday, up...Read More
The price for benchmark secondary aluminium alloy A380.1 rose to its highest point in nearly seven months on Thursday February 27, with firming scrap prices encouraging loftier-priced deals in the United States' secondary ingot market.Fastmarkets' assessment of the aluminum alloy A380.1, delivered Midwest US price rose to 67-69 cents per lb on February 27, up by 1 cent from 66-68 cents per lb prev...Read More
Sentiment in the United States' aluminium scrap market was mixed this past week due to ongoing uncertainty surrounding the long-term effects of the novel Coronavirus (2019-nCoV). Generally, the supply side remained tight for those buying in the US despite slowing export demand.China's imports of aluminium scrap have slowed recently due to the Coronavirus impacting trade routes and the co...Read More
The US Midwest aluminium premium fell to its lowest point in more than two years on Friday February 28, with many sources indicating that the premium has come under downward pressure while the novel coronavirus (2019-nCoV) outbreak sours the demand outlook.Fastmarkets' aluminium P1020A premium, ddp Midwest US, fell to 13.5-14.5 cents per lb on February 28, down by 0.25 cents on the low end and dow...Read More
The aluminium extrusion billet premium in the United States declined on Friday February 28, with extruders continuing to eschew spot purchasing and billet producers competing for limited spot opportunities.Fastmarkets' assessment of the aluminium 6063 extrusion billet premium, delivered Midwest US was at 5.5-7.5 cents per lb on February 28, down by 7.1% from 6-8 cents per lb previously -...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Fastmarkets has discontinued the publication of three base metals premiums, devised via calculation, after a month-long consultation.The three premiums, calculated on a $/lb basis, are as follows:MB-AL-0232 - Aluminium P1020A premium, ddp Midwest US, $/lb (twice weekly) and the associated aluminium P1020A premium, ddp Midwest US, $/lb monthly average MB-PB-0057 - Lead 99.97% ingot premium, ddp Mid...Read More
Benchmark alumina prices climbed to a seven-month high on Friday February 28 with deals concluding above $300 per tonne. Fastmarkets calculated the daily alumina index, fob Australia at $302.50 per tonne on Thursday, up from $299.74 per tonne the previous day and $292.47 per tonne a week ago. It was now at its highest level since July 30, 2019. Key drivers: Nalco tender concluded on Fri...Read More
Prices for cold-rolled and galvanized sheet in the United States held steady after hot-rolled coil prices continued hovering in a narrow band for a two-week period.Producers responded to the rangebound hot roll by attempting to raise prices on Thursday February 27. At least four mills issued customer letters announcing increases of $40 per short ton ($2 per hundredweight). Market participants...Read More
Domestic steel beam prices in the United States remained flat in February in the face of mostly stable demand, while import beam prices widened, moving slightly lower at the midpoint.Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US held at $36.50 per hundredweight ($730 per short ton) on Thursday February 27, flat from the January 30 assessment but up by 3.5% fro...Read More
Trading activity in the Commonwealth of Independent States export billet market was limited in the week to Friday February 28, as most market participants took a wait-and-see position to assess the situation in the global market.Lack of demand for finished long steel products in the customers' markets, stabilization of import scrap prices in the bellwether Turkish market, and dampened sentiment in...Read More
Indian mills are expected to raise domestic hot-rolled coil prices by about 750-1,000 rupees ($10-14) per tonne for March sales, citing rising demand and higher export prices.Indian mills have kept domestic prices of HRC stable through February, but two mills confirmed they were considering raising prices in March.Market participants, however, said that any increase...Read More
Brazilian slab export prices increased during the week to Friday February 28, with recent deals concluded at higher levels and a seasonal pick-up in the market.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil rose to $460-475 per tonne on Friday from $450-460 per tonne a week earlier.A series of deals to the United States concluded at $470-475 per tonne fob, ac...Read More
Domestic prices for hot-rolled coil in Europe increased slightly day on day on Friday February 28, buoyed by positive sentiment in the market, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.90 ($530.95) per tonne on Friday, up by ?,?0.52 from ?,?484.38 per tonne on February 27.The index was calculated based on deals and achie...Read More
Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased again in the week to Friday February 28, amid moderate demand, sources told Fastmarkets.Sentiment in the market turned negative after at least 33 Turkish soldiers were killed and several others injured in an airstrike by the forces of Bashar al-Assad's regime in Idlib, northwestern Syria, on February 27.Fo...Read More
The inter-merchant spot market for light iron scrap in the UK was flat in the week ended Friday February 28, extending a period of price stability this month against a recovery in European export prices and with major British shredders seeking steady supplies, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More
Turkish steel producers remained out of the deep-sea scrap import market at the end of the week to avoid a further increase in prices, while escalated tension in Syria hit trade in the country, sources said on Friday February 28.After a buying spree over the past three weeks, mills stepped back from deep-sea scrap purchases at the beginning of this week.The most recent cargo was sold on Monday Feb...Read More