Global steel prices were likely to soften further at the end of 2021 because of lower raw material prices and uncertain market sentiment, panelists said on Monday November 15 during Fastmarkets' International Ferro-alloys Conference in Prague.In the middle of 2021, global steel prices reached a level not seen since the global financial crisis in 2008, after which there was a long-lasting downtrend...Read More
China's domestic rebar market resumed its downtrend on Wednesday November 17 on lower procurement rates among buyers. Domestic Eastern China (Shanghai): 4,660-4,690 yuan ($729-734) per tonne, down by 40 yuan per tonneBuyers sought to buy at lower prices amid falling raw materials prices, which suggest a recovery in mills' profits.For instance, Fastmarkets' index for iron ore 62% Fe fines,...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 17 due to ongoing weak demand, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,130- 1,170 ($1,283-1,329)per tonne on Wednesday, compared with ?,?1,150-1,250 per tonne one week previously.Hollow section prices have remained weak due to lower f...Read More
A summary of London Metal Exchange warrant premiums for the week to Wednesday November 17.Please click...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 29.00-29.90 on Wednesday November 17, 2021....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 17.Key drivers European ferro-titanium spot prices were unchanged for the fifth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco was settled in the current spot price range, according to sources. There were no reported spot trades over the week to Wednesday November 17. Ferro-titanium s...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook in...Read More
Regional cooperation, public planning and funding capacity for new technologies will be key for the Latin American steel industry to deliver reduced greenhouse gas (GHG) emissions in the long term, top executives and experts said in an event on Wednesday November 17.Steel companies have accepted the need to change their production models, but several challenges are in the way of reducing the indus...Read More
Aluminium market participants in Europe have reported growing concerns over the possible implications for the production of secondary aluminium ingot DIN226 after a recent fire at the Befesa salt slag treatment plant in Hanover, Germany, on November 5.A fire broke out at the plant in Brinker Hafen on that date, and was reported to have caused millions of euros-worth of damage."We are working acros...Read More
European domestic prices for heavy steel plate moved upward slightly in the week to Wednesday November 17, supported by healthy demand, sources have told Fastmarkets.Some Italian re-rollers said that prices would continue to increase due to an expected steel slab price rise. Buyers, however, questioned the validity of such claims.At the beginning of November, domestic plate prices had already jump...Read More
Base metals futures on the London Metal Exchange were largely lower at the 5pm close on Wednesday November 17, succumbing to a strong US dollar index and other headwinds.The US dollar index remained at its highest since July 2020, touching 96.27 during early trading before stepping back to 95.83 at the close."It seems that the upside momentum has stalled in several markets over the last 24 ho...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade.U.S. equity index futures were quiet prior to release of the November Philly Fed Index at 8:30 AM EST. Consensus is a decline to 22.0 from 23.8 in October.Nvidia advanced $14.69 to $307.30 after the company reported higher than consensus quarterly sales and earnings. Cisco dropped $2.81 t...Read More
The European Commission (EC) has proposed a revamp of the EU waste shipment rules under which the export of its metal scrap to nations not belonging to the Organisation for Economic Co-operation and Development (OECD) group would face significant restrictions, it said on Wednesday November 17.Wednesday's proposed shake-up will need to pass through the EU's lawmaking process, including both the Eur...Read More
Base metals futures on the London Metal Exchange were largely lower at the 5pm close on Wednesday November 17, succumbing to a strong US dollar index and other headwinds.The US dollar index remained at its highest since July 2020, touching 96.27 during early trading before stepping back to 95.83 at the close."It seems that the upside momentum has stalled in several markets over the last 24 ho...Read More
Silicon prices rose to a global record high in the July-September quarter of 2021 but Ferroglobe, the Western world's biggest silicon producer, lost money over the three-month period.A $90.8 million debt repayment offset the higher prices imposed for all of Ferroglobe's products, contributing to a $97.6 million loss in the third quarter, according to a company results statement released on Wednesd...Read More
Domestic stainless steel prices in China maintained their downward trend for the week ended Wednesday November 17 due to soft demand.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 18,800-19,000 ($2,942-2,974) per tonne, down by 500 yuan per tonne from a week earlier.Downstream industries performed poorly, leading to lower stainless steel demand.Market sentiment became bear...Read More
The spot ferro-chrome market in China continued to weaken on Tuesday November 16 amid suppliers' efforts to destock, with prices now back to a level last seen in mid-July.Fastmarkets' weekly assessment of ferro-chrome spot 6-8% C, basis 50% Cr, ddp China was 9,600-10,200 yuan ($1,503-1,597) per tonne on Tuesday, down by 400-700 yuan per tonne from 10,300-10,600 yuan per tonne a week earlier. The l...Read More
The price of Galvalume in the United States fell for the second month in a row in November - this time sharply - with competitively priced imports being felt in the market."Due to the massive volume of imported Galvalume and the low pricing for that material, we were successful the last two months in having our domestic prices come down fairly significantly," one distributor said. Galvalume "trave...Read More
Chinese metals production and processing group Daye Nonferrous will postpone the start of operations at its new double-flash copper smelter for six months because of a lack of essential buiding components that have been sourced from overseas, Fastmarkets has learnt.The 400,000 tonnes per year project in Huangshi, close to Wuhan, was scheduled to come online by the end of this year, but commissioni...Read More