Brazilian aluminium maker Companhia Brasileira de Alum?-nio (CBA) expects demand for extrusion billet, its most important primary product, to remain steady - at least - during 2022, after significant growth was reported in 2021, head of primary aluminium division Alexandre Vianna said on Friday November 19.A surge in the country's billet consumption came alongside heated construction market, which...Read More
Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $560.18 per tonne on Friday, compared with $564.21 per tonne a week earlier.Deals were heard at $563-565 per tonne this we...Read More
Domestic hot-rolled coil prices in Northern Europe and Italy were stable on Friday November 19 due to slow trading activity, sources have told Fastmarkets.Northern European steelmakers continued to give discounts for fourth-quarter-rolling HRC. Coil for prompt shipment became available in the spot market at lower prices because it was originally intended for shipment to automotive sector buyers.De...Read More
Although sentiment in the US carbon steel plate market has grown less decidedly bullish in recent weeks, the price has held steady at its all-time high - surpassing hot-rolled coil for the first time in more than a year.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US held at $90 per hundredweight ($1,800 per short ton) on Friday November 19, unchanged for two...Read More
Hot-rolled coil prices in the United States continued their descent on Friday November 19, closing in on $88 per hundredweight ($1,760 per short ton) amid slowing demand while the end of the year approaches.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $88.42 per cwt ($1,768.40 per ton) on Friday, down by 1.82% from $90.06 per cwt on Thursday November 18 and down by...Read More
Most base metals futures prices continued to rise in early trading on the London Metal Exchange on Friday November 19, following a strong performance at the close on Thursday."A weaker [United States] dollar and constructive US macro data provided some support [to base metal prices]," ED&F Man commodity research head Edward Meir said.The three-month aluminium price led the complex, increasing by 2...Read More
European automotive producers are driving the demand for steel grades involving reduced generation of carbon dioxide, in their attempts to reduce supply-chain emissions, and are teaming-up with steelmakers to explore the emerging green steel prototypes.Pressure to meet climate targetsAn estimated 20% of the automotive industry's emissions come from the manufacturing stage, according to CDP - forme...Read More
Base metals prices on the London Metal Exchange were mixed, but largely up at the 5pm close on Friday November 19, after a week of choppy trading."We seem to be following a similar pattern to last week," Marex LME desk analyst Alastair Munro said."Macro-inspired weakness during the first part of the week has given way to a bout of short-covering [activity] into the weekend," he added.The three-mon...Read More
The risks that the Chinese government will introduce export duties on steel products will increase if export volumes surge when prices stabilize again after the recent decline, market sources told Fastmarkets over the week to Friday November 19."A sharp rebound in export volumes will draw attention from the central authorities," a Shanghai-based trader said.Fears have emerged that the Chinese gove...Read More
Eastern China's rebar prices increased slightly on Friday November 19 following futures' gains due to heightened market expectations that banks will loosen loans to housing companies.Domestic Eastern China (Shanghai): 4,670-4,710 yuan ($732-738) per tonne, up by 10-20 yuan per tonneNorthern China (Beijing) weekly assessment: 4,440-4,480 yuan per tonne, down by 80-120 yuan per tonneMarket participa...Read More
Brazilian apparent steel consumption fell by 5.95% in October, from the same month in 2020, largely influenced by lower domestic shipments of flat steel from mills, according to data published by the steelmakers' association, Instituto A??o Brasil, on Friday November 19.Apparent consumption totaled 1.96 million tonnes during the month, down from 2.09 million tonnes a year before, A??o Brasil said....Read More
Yunnan Aluminium Co has suspended operations at its aluminium smelter in Wenshan city, Yunnan province, following an explosion late on Thursday November 18, sources told Fastmarkets.The company has not yet disclosed when it expects to resume production at the facility, which has capacity of about 330,000 tonnes per year, according to sources.Yunnan Aluminium had not responded to Fastmarkets' reque...Read More
Turkish steel scrap import prices recovered with a fresh European cargo deal heard at the end of the week, market participants told Fastmarkets on Friday November 19.A steel mill in the Marmara region booked a European cargo comprising HMS 1&2 (75:25) at $486 per tonne and bonus at $506 per tonne cfr. The cargo composition was not clear at the time of publication. The previous deep-sea deal was he...Read More
Aluminium billet premiums were steady across the globe on Friday November 19, remaining close to all-time highs.EuropeEuropean billet premiums are unchanged this week at record highs but liquidity is low, with most buyers covered until the end of the year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,450-1,500 per tonne on November 19, unch...Read More
An overview of the new energy materials markets and their price moves in the week to Friday November 19.Susan Zou, Yingchi Yang and...Read More
The price of stainless steel in the European domestic market remained unchanged this week, but ongoing tightness could see prices move up before the end of the year, sources told Fastmarkets on Friday November 19.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet 2mm grade 304 base price domestic, delivered Northern Europe was unchanged week on week at ?,?1,850-1,900 ($2,09...Read More
The United Kingdom inter-merchant light iron steel scrap spot price was steady for the third consecutive week on Friday November 19, but strong demand is expected to push up prices by the end of the month against relatively tight supply, trade sources said.The UK market is at its highest level so far this year and any move up to ?200 ($270) per tonne would be the first time the British market has...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
Aluminium billet premiums were steady across the globe on Friday November 19, remaining close to all-time highs.EuropeEuropean billet premiums are unchanged this week at record highs but liquidity is low, with most buyers covered until the end of the year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,450-1,500 per tonne on November 19, unch...Read More
China's nickel pig iron (NPI) prices declined in the week to Friday November 19 amid bearish sentiment in the domestic stainless steel market, though those for nickel ore held steady.Fastmarkets assessed prices for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,460-1,490 yuan ($229-233) per tonne on Friday, down by 10-20 yuan per tonne from 1,480-1,500 yuan per tonne a week...Read More