ArcelorMittal has increased its offer price for hot-rolled coil (HRC) in Europe with immediate effect, sources told Fastmarkets on Friday January 10.The steelmaker was now offering HRC at ?,?500 ($555) per tonne ex-works in Northern Europe and ?,?480 per tonne ex-works in Southern and Central Europe.This compared with Fastmarkets' daily calculation of the steel HRC index, domestic, ex-works...Read More
Fastmarkets' index for domestic hot-rolled coil in Northern Europe increased on Friday January 10, with sources expecting prices to continue to rise.Fastmarkets' daily calculation of the steel hot-rolled coil index, domestic, ex-works Northern Europe, rose slightly to ?,?442.43 ($491.51) per tonne on Friday, from ?,?441.15 per tonne on January 9.The index was based on deals and achievable prices h...Read More
The inter-merchant spot market for light iron scrap in the UK was unmoved in the week ended Friday January 10, while there was an increase in business from Europe to traditional export markets in Turkey and the Indian subcontinent.The UK steel scrap market is preparing for the settlement of monthly delivery contracts to domestic steelmakers, with some industry sources suggesting a rollover may be...Read More
The price of ferrous scrap imported into India increased again this week as positive sentiment in the market continues to boost trading activity, sources told Fastmarkets.Fastmarkets' assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, was $317.35 per tonne on Friday January 10, up from $312.17 per tonne a week earlier.Prices have continued to move up on a weekly basis since Nove...Read More
The price of austenitic alloy steel scrap in Europe has moved up slightly over the past week on an uptick in demand for January tonnages and improved market sentiment, sources told Fastmarkets on Friday January 10.Fastmarkets' price assessment for stainless steel scrap 316 solids, domestic, delivered merchants UK, was ?1,170-1,200 ($1,530-1,569) per tonne on Friday, up by ?20 per tonne from the...Read More
Turkish steel producers ended the week with only one deep-sea cargo for February shipment, leaving prices fairly stable, sources said on Friday January 10.A steel mill in the Marmara region booked the European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25), 10,000 tonnes of shredded and 15,000 tonnes of bonus at an average price of $300 per tonne cfr late on Wednesday January...Read More
Iron ore prices were rangebound on Friday January 10, although two fixed-price deals implied better risk appetite in the market, sources said.62% Fe fines, cfr Qingdao: $93.92 per tonne, down $0.45 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $92.96 per tonne, down $0.50 per tonne.62% Fe low-alumina fines, cfr Qingdao: $95.03 per tonne, down $0.19 per tonne.58% Fe fines high-p...Read More
Seaborne coking coal prices moved up sharply on Friday January 10 as Chinese participants continued to drive buying activity.Fastmarkets indicesPremium hard coking coal, fob DBCT: $153.53 per tonne, up $5.23 per tonnePremium hard coking coal, cfr Jingtang: $158.10 per tonne, up $0.75 per tonne Hard coking coal, fob DBCT: $122.33 per...Read More
Bulk scrap purchasing in the Bangladesh import market is under pressure, largely due to inflated inventories of material and high offer prices, market sources told Fastmarkets on January 10."In the past three to four months, when nobody else in the Indian subcontinent was buying much, Bangladesh bought. But now, after this purchasing, everyone has high stocks on hand," one mill source in the count...Read More
Higher Kanto Tetsugen auction prices have bolstered sentiment in Asia for Japanese scrap, but demand for deep-sea cargoes from the United States' West Coast has faltered in both Vietnam and Taiwan.VietnamFastmarkets' price assessment for bulk cargoes of steel scrap HMS 1&2 (80:20), cfr Vietnam was $300 per tonne cfr on Friday January 10, narrowing downwards $5 per tonne from last week.There were t...Read More
The three-month aluminium price on the London Metal Exchange was little moved during morning trading on Friday January 10 and consolidated around $1,800 per tonne despite a fresh cancelation of some 17,650 tonnes. Aluminium's outright price on the LME was recently at $1,803.50 per tonne this morning, unchanged from its closing price on Thursday, while volumes traded in the metal were thin at less...Read More
Base metals on the Shanghai Futures Exchange were mixed but confined to narrow ranges during morning trading on Friday January 10, with participants staying fairly cautious ahead of key employment data out of the United States later.While tensions between the US and Iran continue to ease, markets are switching focus back to the global economic outlook and the next major indicator of that, the US'...Read More
Key data from the January 10 pricing session in London.Key drivers- Cobalt prices continue to become firmer in the second half of the week ended Friday January 10, with market participants reporting a mix of trader, fund and consumer inquiries, to which sellers have gradually increased their offer prices.- Producers were believed to be comfortably sold,...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 10.Europe The ferro-manganese and silico-manganese markets rose following a steady increase in manganese ore prices in recent weeks. Alloy producers were keen to pass on the increased cost of ore to their customers, although consumers in the steel sector have been slow to show much buying in...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The price of stainless steel in Europe decreased this week on lower monthly alloy surcharges for January, sources told Fastmarkets on Friday January 10. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304 transaction domestic, delivered North Europe was ?,?2,050-2,100 ($2,277-2,333) per tonne on January 3, down by ?,?40-50 per tonne...Read More
The United States' ferrous scrap market appears to have peaked, with buyers and sellers concurring that there is no further upside left for prices in February, but participants were mixed on where the market will head next month. "For this cycle, for sure it feels like the market has peaked. The only question, in my mind, is how soon does the market start to give back some of the gains from the la...Read More
Premiums for primary foundry alloy in the United States and Europe were unchanged on Friday January 10 in an illiquid global market.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US at 7-10 cents per lb on Friday, unchanged from the previous monthly assessment and holding at an all-time low. With limited spot opportunities and abunda...Read More
Base metals prices on the London Metal Exchange consolidated higher at the close of trading on Friday January 10, edging slightly upward on moderately low turnover, while volatility in the aluminium complex saw strong stock moves make little change to its outright price.Aluminium's underlying price settled at $1,806 per tonne in the afternoon, a climb of just 0.1% over the day, while the total vol...Read More
An overview of the battery raw materialsmarkets and their price moves from the pastweek.Read More