Aluminium producer Aludium has appointed Lionel Chapis as the company's new chief executive officer, effective March 1. Prior to joining Aludium, Chapis was a managing director for automotive solutions at Constellium with more than 20 years of experience in the aluminium...Read More
A weak US aluminium market kept market participants away from undertaking arbitrage activities between Southeast Asia and the United States despite plummeting freight rates. Sustained pressure on aluminium premiums in the US was one of the main factors preventing viable aluminium arbitrage opportunities between London Metal Exchange sheds in Southeast Asia to the US Midwest. Fastmarkets assessed t...Read More
The Chinese government has announced the third round of metal scrap import quotas, which importers must apply for to bring scrap material into China. The latest round granted quotas for an extra 4,620 tonnes of copper scrap, 1,440 tonnes of aluminium scrap and 2,670 tonnes of ferrous scrap, according to the release from the China Solid Waste &...Read More
The coronavirus outbreak has not yet affected buying demand in China for imported alumina, with material from Western Australia still being shipped to China and fresh deals concluded, market participants told Fastmarkets. A deal was concluded on Tuesday February 4 for 30,000 tonnes of Western Australian alumina at $299.50 per tonne on a cif China basis.The cargo is for March loading and to either...Read More
China's copper smelters face limited scope to slash production even as diminished demand on virus-related lockdowns raises concerns refined inventories could grow. Daye Nonferrous, based in Huangshi at the heart of the novel coronavirus outbreak in Hubei province, plans to operate at just a moderately reduced rate of 70-80% of capacity for the first quarter, a company source said. A market source...Read More
Hot-rolled coil prices in the United States remained soft after buyers expressed bearish outlooks for the near-term market on falling domestic ferrous scrap prices, soft demand from certain end-user markets and uncertainty generated by the Wuhan coronavirus.Fastmarkets' daily steel hot-rolled coil index, fob mill US ended Wednesday February 5 at $29.67 per hundredweight ($593.40 per shor...Read More
The price of steel rebar in Europe moved downward this week following a continued decrease in the price of feedstock materials, sources told Fastmarkets on Wednesday February 5.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?480-490 ($530-541) per tonne on Wednesday, down from ?,?490-500 per tonne one week earlier."Prices are goin...Read More
Prices for steel mesh-quality wire rod in Europe were flat this week although feedstock costs continued to fall, sources told Fastmarkets on Wednesday February 5.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, remained at ?,?460-470 ($508-519) per tonne on February 5, the third consecutive week of stability.Feedstock prices rose sharply...Read More
The price of hollow steel sections prices in Europe remained flat this week, with many waiting for the import quotas to be exhausted which will support the domestic market, sources told Fastmarkets on Wednesday February 5. Fastmarkets' weekly price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?620-640 ($685-707) per tonne on Wednesday, unchanged week on week. F...Read More
The price of steel H-beams in Northern Europe moved down on Wednesday February 5 following a sharp drop in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540 - 570 per tonne ($597-630) per tonne on Wednesday, down from ?,?550-580 per tonne a week earlier.Producers had been pushing for price increases for H...Read More
Iranian export steel billet and slab prices increased in the week to Wednesday February 5, but no new deals have been heard.In the wider market in the region, the steel billet index, export, fob Black Sea, CIS, has slipped by $1 per tonne over the week, and was calculated at $392 per tonne on February 4 amid weakening scrap prices.And Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix),...Read More
The ferrous scrap export market in the United States is facing more downside with East Coast docks continuing to adjust their buying prices downward in anticipation that the next sale will be lower.Late last month, an East Coast exporter sold 15,000 tonnes of an 80:20 mix of No1 and No2 heavy melting scrap at $267.50 per tonne and 15,000 tonnes of shredded scrap at $272.50 to Turkey - and the next...Read More
Stainless steel scrap prices in the United States have stabilized due to serious shortages of scrap."With nickel about the same, the tight supply situation is creating a very slight uptick in 300-series stainless prices," one dealer source said."The lack of supply is the leading force of prices remaining firm to up slightly," a second dealer said.While demand has not really improved at the steel m...Read More
Turkish deep-sea scrap markets went quiet on Wednesday February 5 after cargoes from the United States and the Baltic Sea sent prices down by about $10 per tonne, sources told Fastmarkets.News of two fresh cargoes on Tuesday February 4, caused a $10.38-10.54 per tonne drop in Fastmarkets' daily scrap indices. The drop in prices was expected by market participants because of wea...Read More
Seaborne iron ore prices retreated on Wednesday February 5 while the market reacted to high steel inventories.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $81.31 per tonne, down $2.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $80.15 per tonne, down $2.45 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $82.54 per tonne, down $2.56 per tonne.58% Fe fines high-premium, cfr Qingda...Read More
The seaborne coking coal market regained some strength on Wednesday February 5, with a cargo of premium mid-vol hard coking coal fetching a higher price than a day earlier.Fastmarkets indicesPremium hard coking coal, fob DBCT: $150.69 per tonne, up $2.80 per tonnePremium hard coking coal, cfr Jingtang: $159.06 per tonne, down $1.07 per tonne Hard coking coal, fob DBCT: $127.01 per tonne, unchanged...Read More
The Asian scrap market is resting in a mid-week slump on Wednesday February 5 on the back of a string of Wuhan coronavirus-related fears.Shippers are now awaiting more announcements of mandatory quarantine periods - of up to 14 days - for vessels inbound to discharge ports.Key northern Vietnam port Hai Phong has stipulated that any vessels that have visited Chinese ports (excluding Hong Kong) in t...Read More
Global copper premiums were mostly unchanged in the week to Tuesday February 4, with broad illiquidity and macroeconomic risk-aversion a key headwind for spot demand, while an 11% drop in the London Metal Exchange copper price did not spark fresh buying interest.China's spot market barren amid logistics clamp Tenders are a key factor behind higher Southeast Asian premiums Strong availability tempe...Read More
Fears over a possible price slump for Chinese hot-rolled coil have led some traders to issue export offers that are significantly lower than those of mills.DomesticEastern China (Shanghai): 3,600 yuan ($514) per tonne, unchangedNorthern China (Tangshan): 3,270-3,300 yuan per tonne, widening downward by 30 yuan per tonneSellers in Shanghai kept their offers stable on Wednesday February 5, with trad...Read More
China's rebar prices held steady on Wednesday February 5 after several mills announced plans to cut production.Eastern China (Shanghai): 3,360-3,400 yuan ($480-486) per tonne, unchangedNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedAt least seven rebar producers in eastern China's Shandong province have started maintenance on their equipment due to manpower shortages and subdued de...Read More