Alongside Fastmarkets' annual global ranking of steelmakers by crude steel output in 2020, our correspondents around the world review developments in their regional steel sectors.The year 2020 will forever be remembered as the one in which the Covid-19 pandemic spread globally, impacting every area of life and business. The world's steel industry was no exception, with many of the largest steelmak...Read More

Keen selling was seen across the London Metal Exchange and throughout the day on Tuesday June 15, which took the price of copper to its lowest level since late April this year.Copper's three-month closing price was $9,569 per tonne, showing a 4% decrease from Monday's closing price of $9,971.50 per tonne.Its intraday low of $9,511 per tonne was the lowest price for copper since April 23, while the...Read More

Seaborne iron ore prices mostly edged upward on Tuesday June 15 despite limited liquidity and the downtrend in the financial markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $221.87 per tonne, up by $1.10 per tonne62% Fe low-alumina fines, cfr Qingdao: $223.09 per tonne, up by $1.47 per tonne58% Fe fines high-grade premium, cfr Qingdao: $194.60 per tonne, down by $0.62 per tonne65% F...Read More

Weakness was evident across the base metals in London and Shanghai on the morning of Tuesday June 15 despite pre-market Western equity index futures driving higher and high volumes traded on the London Metal Exchange.14,205 lots had been traded on the LME by 5.52am London time compared with typical volume of 6,000 lots at this timeMarkets seem to be nervous about the measures China's authorities m...Read More

Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More

The latest forecasts from Fastmarkets' team of base metals analysts are ready to view, including an upgrade to our aluminium price forecasts.Aluminium: Price forecasts raisedWe correctly expected the macro reflationary theme to raise the prices for all base metals but, with it being the base metal with by far the weakest fundamentals, we had expected the price of aluminium to underperform relative...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR?  US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?  Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Iron ore remains the most bullish commodity of the year, with prices fuelled by Chinese demand and supply disruptions in Brazil, along with bullish sentiment. But prices are expected to come down because Brazilian exports have begun to recover, and have reached their highest level since the Brumadinho dam disaster in 2019. W...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...Read More

Some steel rebar and billet prices in the United Arab Emirates decreased during the week ended Tuesday June 15, although demand was better because of low stock levels, sources have told Fastmarkets.Local rebar producers kept their prices unchanged during the week, but gave some discounts.Domestic rebarThe country's biggest producer, Emirates Steel, was offering rebar at 3,067 dirhams ($835) per to...Read More

Keen selling was seen across the London Metal Exchange and throughout the day on Tuesday June 15, which took the price of copper to its lowest level since late April this year.Copper's three-month closing price was $9,569 per tonne, showing a 4% decrease from Monday's closing price of $9,971.50 per tonne.Its intraday low of $9,511 per tonne was the lowest price for copper since April 23, while the...Read More

RAPAPORT... Hong Kong jeweler Chow Tai Fook has joined the World Jewellery Confederation (CIBJO) in what the organization hails as a "giant milestone" for the industry.Chow Tai Fook will "provide [the] confederation with a considerably broader perspective, not only in what are several of the fastest-growing markets in the global jewelry trade, but also in the online environment, which is consuming...Read More