The price of secondary steel billet in the Indian local market rose by 1,000 rupees ($14) per tonne in the week to Friday May 14 on rising raw material prices and an increase in export opportunities for secondary billet made through the induction furnace (IF) route."Prices of raw materials such as direct-reduction iron [DRI] have increased because most kilns have reduced production, while opportun...Read More

Copper's price on the London Metal Exchange ended the week lower despite hitting an all-time record high on Monday May 10, with the rest of the complex was also down on the week despite slight rises day on day on Friday. The three-month copper price was down at $10,240 per tonne on Friday May 14 at the close, which is some 1% lower than Thursday's 5pm price of $10,342 per tonne. Copper traded at...Read More

Primary aluminium foundry alloy (PFA) premiums in Europe and the United States remained well-supported at historical high levels on Friday May 14.Premiums for PFA in Europe were little changed month-on-month at an all-time high, underpinned by expensive regional upstream P1020 premiums.Fastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Eastern Europe, at $440-50...Read More

Fastmarkets' copper concentrates treatment charge/refining charge (TC/RC) index rose marginally in the week to May 14.Deals to smelters were reported in the mid $30s per tonne while bids came in at the high $30s to low $40s, with major Chinese smelters still carrying out...Read More

Treatment charges for spot zinc concentrate continued to trend higher in the two weeks to Friday May 14, with miners responding to soaring prices by increasing production. Small increase in traded terms for spot concentrate Several tenders out from mining companies Freight rates rising from South America Fastmarkets assessed the zinc spot concentrate TC, cif China at $68-85 per ton...Read More

London-based investment firm Appian Capital Advisory is selling the mining royalty for the Chilean Caserones copper mine to Nomad Royalty, a Canadian-based gold mining company, it said on Friday May 14. "The royalty interest is highly cash generative and represents an effective 0.28% net smelter return royalty over the Caserones mine in Atacama, Chile, owned by Minera Lumina Copper Chile," Appian...Read More

Africa-origin copper shipments were facing delays as long as two months amid a lack of vessel space and increased numbers of stoppages of port operations, industry sources told Fastmarkets on Friday May 14.Three sources with copper shipments departing Zambia and Democratic Republic of Congo said that the arrival dates of their cargoes at destinations across Asia and Europe have been postponed from...Read More

London-based commodities, energy and financial markets brokerage firm Marex plans to list on the main segment of the London Stock Exchange, it said on Friday May 14. Marex announced its intention to float on Friday, in the midst of a broad-based commodity price rally that has taken copper and iron ore prices to all-time highs. It is one of nine Category I members on the London Metal Exchange,...Read More

Indian steel producer JSW has reported a 5% drop month-on-month in crude steel production in April 2021, as a result of diverting oxygen supplies to hospitals to help treat coronavirus infections, the company has said in an announcement via the Bombay Stock Exchange.Capacity utilization was lower month-on-month in April due to prioritizing supplies of liquid oxygen for medical purposes over steel...Read More

Base metals prices on both the LME and SHFE were mainly weaker this morning, Friday May 14, and seem to have got some downward momentum, even though broader markets have seen a buy-the-dip mentality emerge.* Asia-Pacific equities rebounded on Friday* US treasury yields eased as United States Federal Reserve officials stuck to their view that inflationary pressures will be transitory* Metals could...Read More

Domestic prices for hot-rolled coil in Europe were largely stable on Friday May 14 after a substantial rise the previous day, but sentiment in the market remained bullish, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,088.75 ($1,315.04) per tonne on Friday, down by just ?,?1.96 from ?,?1,090.71 per tonne on Thursday.The...Read More

The price paid to export steel billet from the Commonwealth of Independent States (CIS) fell by Friday May 14 after bids from customers in China declined on pressure from falling rebar futures, sources said.The most-traded October rebar futures contract closed at 5,641 yuan ($873.95) per tonne on Friday, down by 274 yuan per tonne from a day earlier.Falling future prices influenced current domesti...Read More

Steel rebar prices in Poland jumped during the week to Friday May 14, supported by strong end-user demand and limited supply, with the uptrend expected to sustain in the short-term, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 3,220-3,350 zloty ($856-891) per tonne on Friday, up from 2,970-3,020 zloty per tonne last week....Read More

Steel wire rod producers in Poland were largely staying away from the market and holding back new offers, while secondary-market prices skyrocketed, pushed by limited supply, good demand and a general European uptrend, Fastmarkets heard on Friday May 14.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 3,250-3,400 zloty ($864-904) per tonne...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.Equity index futures moved lower following release of April Retail Sales at 8:30 AM EDT. Consensus was an increase of 1.0% versus a gain of 9.7% in March. Actual was unchanged. Excluding auto sales, consensus was an increase of 0.9% versus a gain of 0.6% in March. Actual was down 0.8%.Wal...Read More

Brazilian consumption of ferrous scrap has been higher in the first half of 2021 and is expected to maintain similar levels until the end of the year, Clineu Alvarenga, president of national ferrous scrap association Inesfa, told Fastmarkets on Thursday May 13.Long steel producers have their order books into the second half and positive prospects until December, Alvarenga said. Those steelmakers u...Read More

The pig iron export market in Brazil remained strong during the week to Friday May 14, but its growth was restricted by fluctuations in the price of iron ore, according to sources.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $590-610 per tonne on Friday, up $15-20 from $575-590 per tonne last week.Offers from the south of Brazil increased to $620-630 per...Read More

Prices for inter-merchant light iron scrap in the UK increased to a nine-year peak over the week ended Friday May 14, driven by tight supplies and strong domestic and export demand, sources have told Fastmarkets. Fastmarkets' latest price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?160-175 ($225-246) per tonne on Friday, compared with ?150-165 per...Read More

Turkish steel mills remained absent from the deep-sea market on Friday May 14 as a result of the post-Ramadan Eid al-Fitr holiday, sources told Fastmarkets.Turkey began the religious holiday on the afternoon of May 12 and it will continue until May 15, with market activity expected to resume on Monday May 17.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Tu...Read More

Prices for shredded steel scrap imported into South Asia jumped in the week to Friday May 14 following a large increase on the international scrap market, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $510.55 per tonne on Friday, up from $478.96 per tonne one week earlier.Just one deal was heard at $510 per tonne this...Read More