The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.We spoke in our previous tracker of stainless steel prices ending 2020 on a high. That trend has continued during early 2021 and, in fact, the upward rally in prices has increased its momentum.Compared with the monthly price increase of some 5% seen at the end of 2020, prices for grade-304 stainless steel in al...Read More
European hot-rolled coil producers have remained in control of domestic prices despite mixed sentiment among buyers, market sources told Fastmarkets on Wednesday June 2.Tight supply and long lead times from European mills combined with limited access to overseas coil have been supporting the domestic prices. A majority of European producers were reported to be sold out of third-quarter-rolling coi...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.By William Tankard, Principal Analyst and Hun Hao Chuah, Senior Research Analyst. Driven by a growing list of stakeholder requirements and an explosion in creative solutions, we expect the mining industry to accelerate its adopti...Read More
Nickel and zinc's three-month prices were the main metals to register small rises on June 2, while aluminium and copper futures contracts fell on a day of low volumes on the London Metal Exchange with the complex still finding its direction following a strong end to May. LME nickel's three-month price rose slightly to $18,236 per tonne on Wednesday from $18,130 per tonne on Tuesday, despite hittin...Read More
RAPAPORT... The trade group that supports India's domestic jewelry industry has asked the government and the central bank for urgent help amid the "major financial stress" resulting from the Covid-19 crisis.Companies in the sector have been forced to close and have lost out on revenue during the country's latest coronavirus wave, the All India Gem and Jewellery Domestic Council (GJC) stressed...Read More
The stainless steel scrap market in the United States firmed over the past week, with prices narrowing or strengthening across the board amid robust demand and continued tight supply."We are going to be cautious adjusting our buying prices to the upside until we get a feeling of how the processors are going to respond to the current market conditions," one dealer said.The intrinsic values for stai...Read More
Prices of lead scrap items in the Unites States did not display any significant week-on-week change, with the market trading in a narrow range amid limited spot activity.But price ranges widened upward on several assessments in response to volatility on the London Metal Exchange lead contract, rising freight costs and physical supply constraints."Smelters are running at capacity, and imports...Read More
RAPAPORT... India is experiencing a shortage of diamonds as rough supply has dropped and polished goods remain stuck at the Gemological Institute of America (GIA).Traders are struggling to source rough, and face rising prices when buying from miners and at tenders, Indian manufacturers told Rapaport News this week. This has made it hard to meet strong demand from the US and China."[Buying] ro...Read More
Major non-ferrous scrap products such as insulated copper wire (ICW) and zorba will not be able to enter Malaysia under a newly proposed import guideline, an industry body said at the Bureau of International Recycling (BIR) Convention 2021 on Wednesday June 2."Existing secondary investment will go down the drain if this guideline comes into force," Eric Tan, president of the Malaysia Non-Ferrous M...Read More
Chilean copper output fell 1.98% in April, compared to the same month of 2020, due to volume decreases from major producers like Codelco, Escondida and Los Pelambres, according to data published by the country's copper commission, Cochilco, on Wednesday June 2.The country produced 461,200 tonnes of copper in April, down from 470,500 tonnes a year before. Production also fell 5.63% from 488,700 ton...Read More
(IDEX Online) - Banks that lost money in a $770m gold and diamonds loan scam in India in 2013 have won a legal victory in their bid to trace the missing cash.A British judge yesterday restored four UK shell companies suspected of having laundered money lent to Indian-based Winsome Diamonds.The move may enable Standard Chartered Bank and other lenders to trace the assets of an Indian gold and diamo...Read More
(IDEX Online) - Hundreds of traders crowded the Israel Diamond Exchange (IDE) for the first Blue and White fair since lockdown restrictions were imposed more than a year ago.Among the 50 industry leaders exhibiting on the trading hall at Ramat Gan were Tache, Lili Diamonds, S. Schnitzer and Andre Messika.Almost all coronavirus restrictions have now been lifted in Israel after a vaccination program...Read More
Nickel premiums in the US rose while premiums in Europe and Asia were stable, sources told Fastmarkets.US briquette premium rises 9%Demand continues to bolster European premiumClosed arbitrage in Asia keeps premium flatStrong fundamentals boost seaborne sulfate premiumPremiums rise as higher offers gain traction Nickel premiums in the United States rose, with the premium for nickel briquette up by...Read More
Hot-rolled coil prices in the United States remained supported by lean supply and robust demand, with Fastmarkets' daily HRC index once again inching closer to the $81-per-hundredweight ($1,620-per-short-ton) mark.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $80.63 per cwt ($1,612.60 per ton) on Wednesday June 2, up by 0.69% from $80.08 per cwt on Tuesday June 1 bu...Read More
Turkish prices for flat steel products increased during May 2021, but the direction of price movements in June will depend on global price trends, especially in China, sources told Fastmarkets on Wednesday June 2.Market participants did not expect any price decreases, though. Steel prices in China did decrease from April until May 27, but they then started to rise again.Hot-rolled coil export pric...Read More
Prices for steel hollow sections in Europe rose on Wednesday June 2 after a rise in demand led to mills struggling to keep up, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,320-1340 ($1,614-1,638) per tonne on June 2, up from ?,?1,250-1,320 per tonne on May 26.Hollow section producers had less material to offer cust...Read More
European steel H-beam prices moved up again on Wednesday June 2, with producers achieving continuous price increases with little resistance from customers, sources told Fastmarkets. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?940-970 ($1,149-1,186) per tonne on Wednesday, up from ?,?900-920 per tonne one week earlier. Some mills have steppe...Read More
Iranian billet producers turned quiet in the week to Wednesday June 2, waiting for a clearer trend after the recovery of billet and rebar prices in the domestic market in China - one of the key destinations for semi-finished steel from Iran.Last week, domestic billet prices in China dropped to 4,780 yuan ($749.36) per tonne on Friday, down by 140 yuan ($21.95) per tonne since the start of last wee...Read More