Alumina prices have been trading close to their lowest level in over two years. Alice Mason and Hui Li review the market factors that drove prices down and consider the outlook.Global alumina prices have been on a rollercoaster over the past year due to extreme changes in the supply picture and the varying role of China in the market.On August 19 this year, Fastmarkets assessed the benchmark alumi...Read More
Strong gains in nickel prices since the start of the month and the expectation that this strength will persist are likely to slow the pace of nickel-rich battery adoption in the electric vehicle (EV) market in the near term, market participants told Fastmarkets.But this dynamic is unlikely to result in cobalt demand picking up significantly, they added.Following an announcement by the Indonesian g...Read More
Steel plate prices in the United States dropped for the first time since mid-July, after holding at $35.50 per hundredweight ($710 per short ton) for more than one month, following a negative performance trend across the domestic steel market.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, declined to $34.50 per cwt ($690 per ton) on Friday September 6, down...Read More
Flat steel producer ArcelorMittal Italia will continue operations at its plant in Taranto, Italy, with a new decree granting the steelmaker temporary legal immunity for breaches of environmental regulations, the company has announced.The steelmaker had previously expressed concerns that the adoption of the so-called Crescita Decree would threaten the operation of the plant.When ArcelorMittal acqui...Read More
The prices of rebar and wire rod exported from the Commonwealth of Independent States (CIS) continued to decline in the week to Monday September 9, under pressure from weak demand in the major sales outlets as well as growing competition with Turkish suppliers.Indications of offers from CIS mills, particularly from Belarus, were reported at $420 per tonne fob Black Sea.But bids for CIS rebar from...Read More
Import prices for steel slab in Southeast Asia and East Asia have fallen for a third consecutive week amid a downturn in the global steel markets that has damped buying interest for slab, market sources told Fastmarkets on Monday September 9.Buyers were likely to take a wait-and-see approach amid expectations that prices will fall, a trader in Indonesia said.Fastmarkets' weekly price assessment fo...Read More
Turkish rebar is set to become more competitive in the Singapore import market again due to falling scrap prices.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $460-470 per tonne for the week to Monday September 9, falling by $5 per tonne from a week earlier.Mark...Read More
The price trend for hot-rolled coil in Asia remains uncertain for many market participants given price rebounds in China but continued bearish sentiment in the key import market of Vietnam.Fastmarkets' steel HRC import, cfr Vietnam assessment, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $457-465 per tonne cfr for the week ending M...Read More
Domestic scrap prices in the Turkish market have gone down over the past week amid falling imported scrap values, sources said on Monday September 9.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,445-1,650 ($252-288) per tonne on Monday, down from last week's TRY1,520-1,770 per tonne.This downward movement in the weekly assessment came...Read More
The Turkish steel mills held back from the deep-sea scrap markets at the beginning of the week, expecting further prices decreases, sources said on Monday September 9.Four deep-sea bookings were made last week, at prices which pushed down the daily scrap indices by more than $18 per tonne.Three bookings on September 3 lowered prices by $12.30 per tonne day on day. On September 5, prices dropped by...Read More
Seaborne iron ore prices rose strongly above $90 per tonne cfr China on Monday September 9, reflecting gains in the futures and steel markets after the Chinese government boosted liquidity in the commercial banking sector.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $92.97 per tonne, up $3.92 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.36 per tonne, up $3.92 per tonn...Read More
Seaborne coking coal prices were largely unchanged on Monday September 9, with buyers and sellers adopting a wait-and-see approach to the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.20 per tonne, up $0.77 per tonne Premium hard coking coal, cfr Jingtang: $169.07 per tonne, up $0.06 per tonneHard coking coal, fob DBCT: $134.01 per tonne, unchangedHard coking coal, cfr Jingtan...Read More
Seaborne iron ore concentrate prices rallied last week in line with the general market rebound, while pellet prices underperformed amid increasing spot supplies.ConcentrateThe weekly Fastmarkets index for iron ore 66% Fe concentrate, cfr Qingdao stood at $95.06 per tonne last Friday September 6, up by $5.81 per tonne week on week.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines,...Read More
Billet prices in most markets around the world tumbled to set fresh year-to-date lows last week amid sluggish demand in the downstream long steel markets. The downturn in the Turkish ferrous scrap market also contributed to bearish sentiment. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $244.15 per tonne last Friday September 6, its lowest sinc...Read More
China's hot-rolled coil prices strengthened on Monday September 9, with sentiment lifted by the central bank's announcement of a rate cut last Friday.DomesticEastern China (Shanghai): 3,690-3,710 yuan ($518-521) per tonne, up 40 yuan per tonneNorthern China (Tangshan): 3,620-3,630 yuan per tonne, up 20 yuan per tonneSpot prices gained amid surging futures, which responded to the People's Bank of C...Read More
China's rebar prices increased in both the domestic and export markets on Monday September 9 after the country's central bank unveiled plans ahead of the weekend to increase liquidity to shore up the Chinese economy. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($512-516) per tonne, up 30 yuan per tonneNorthern China (Beijing): 3,650-3,680 yuan per tonne, up 20 per tonneThe People's Bank of...Read More
The three-month aluminium price on the London Metal Exchange was higher during morning trading on Monday September 9, with a 0.6% gain against continued outflows in LME stocks, while spread tightness in nickel futures has been a key factor in reduced buying. The light metal's three-month price began the day trading at around $1,777.50 per tonne, before a 1.3% climb led the metal to breach nearby r...Read More
Base metals prices on the Shanghai Futures Exchange were broadly down during morning trading on Monday September 9 with weak data from the United States and China last week weighing on the complex.US job growth slowed more than expected in August, with data released on Friday showing total non-farm employment rising by 130,000 - missing the forecast gain of 163,000. This was followed on Sunday by...Read More
Key data from the pricing sessions in Asia and Europe during the week ended Friday September 6.ChinaKey drivers The price for antimony, MMTA standard grade II, ddp China, narrowed upward by 500 yuan per tonne to 36,500-37,000 yuan ($5,135-5,205) per tonne in the latest assessment on September 4, amid improved market sentiment as a result of the successful auction of the entire stock of antimony he...Read More
Key data from the pricing sessions in London and Shanghai in the week ended Friday September 6. China Key drivers The China silicon price stabilized over the past week following a series of increases in the previous pricing sessions. Support for more price increases has been waning after restocking from downstream secondary aluminium alloy producers...Read More