United States nickel briquette premiums surged upward by over 34% this week after mine strikes continued to tighten supply, while Chinese premiums rose on the open arbitrage window between London and Shanghai and European premiums remained flat, sources told Fastmarkets.US briquette premiums gained 34.8% this week after Vale's strike added to the existing material shortageThe open arbitrage window...Read More

Tin continued to be unaffected by global macroeconomic pressures and reached a new year-to-date peak of $32,775 per tonne on the afternoon of Wednesday July 14, while other base metals traded on the London Metal Exchange ended the day's session with lower prices.The three-month price for tin closed 0.8% higher on Wednesday at $32,661 per tonne compared with Tuesday's 5pm price, with its all-time h...Read More

South Korea's Public Procurement Service (PPS) has awarded a 3,000-tonne aluminium tender at a premium of $168.5 per tonne, 10.1% higher than the premium it had awarded for another aluminium tender two weeks ago.The latest tender for London Metal Exchange-registered brands of high-grade primary aluminium ingot from a western origin - except those from China, India, Russia and Egypt - was awarded t...Read More

Hot-rolled coil prices in the United States crossed the $91-per-hundredweight ($1,820-per-short-ton) barrier for the first time on Wednesday July 14, reaching an all-time high since Fastmarkets started assessing the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.33 per cwt ($1,826.60 per ton) on July 14, an increase of 1.55% from $89.94 per cwt on...Read More

Steel H-beam prices in Europe increased on Wednesday July 14 after mills raised their offer prices because they have full order books, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,050-1,080 ($1,242-1,277) per tonne on July 14, widening upward by ?,?10 per tonne from ?,?1,050-1,070 per tonne on July 7."The mills ha...Read More

The steel rebar market in the south of Europe was quiet in the week to Wednesday July 14, with prices broadly flat, although market sources told Fastmarkets that producers were considering price rises.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?780-820 ($922-970) per tonne on Wednesday, compared with ?,?760-830 per tonne one w...Read More

Domestic prices for steel wire rod in the south of Europe were stable or slightly lower in the week to Wednesday July 14, while trading activity was rather cool because buyers were abstaining from bookings, expecting prices to correct downward in August, Fastmarkets has heard.Producers, meanwhile, were in no rush to reduce their prices, citing good order books, high feedstock costs and reduced ava...Read More

Proudfoot Global CEO Pamela Hackett talks wrestling chaos with industry leadersSPONSOREDproudfootYandal building on discovery successSPONSOREDyandal resourcesEmerging producer Horizon Minerals eyes mid-tierSPONSOREDhorizon mineralsRumble growing with Earaheedy discoverySPONSOREDrumble resourcesReverse circulation drilling has intercepted broad zones of enriched and primary copper mineralisation wi...Read More

Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were generally weaker this morning, Wednesday July 14, after stronger-than-expected inflation data from the United States on Tuesday raised concerns.* US consumer price index (CPI) climbed by 0.9% month on month in June, after a 0.6% rise in May* US 10-year treasury yields rebound to 1.4%, after a low of 1.25% last...Read More

High inventories and falling domestic prices encouraged Brazilian suppliers to turn to export markets in June, following months of declining shipments, according to the national ferrous scrap association, Inesfa.Stronger demand for long steel in Brazil led mills to seek more scrap not only domestically, but also via imports, Inesfa's president, Clineu Alvarenga, told Fastmarkets on Tuesday July 13...Read More

The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures were quiet prior to testimony by Federal Reserve Chairman Powell before the House Financial Committee this morning.Index futures moved higher following release the U.S. June Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.6% versus a gain of 0.7% in May....Read More

The global push to decarbonize the steel industry means innovation is becoming increasingly important, according to speakers at the Singapore Steel Forum 2021 on Wednesday July 14.While sharing his outlook for the steel industry in Japan, the principal of JFE Steel's Overseas Business Planning Department, Kazuo Mike Fujisawa, said that "in the context of decarbonization, innovation is becoming cri...Read More

Turkish steel producers were quiet in the deep-sea scrap import markets on Wednesday July 14 ahead of holiday periods in the country, market participants told Fastmarkets.The most recent deep-sea trades were recorded on Tuesday, when a steel mill in the Marmara region booked two United States cargoes at $485 per tonne cfr on a heavy melting scrap 1&2 (80:20) basis.Those deals caused...Read More

China opened two railways at the start of this week to ensure the movement of coal from Shanxi province in the north to coal-consuming provinces across the country, China Railway Zhengzhou Group said on Monday July 12.The two main railways for coal transportation from Shanxi province were disrupted earlier this year by extreme weather, with heavy rains and high temperatures. Local governments and...Read More

Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More

Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...Read More

Coking coal market in China stayed largely stable on Wednesday July 14 despite a few buying interests from end users in south China. There are also new buying activities for Australia coking coal loaded in November, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.03 per tonne, down $0.24 per tonnePremium hard coking coal, cfr Jingtang: $308.32 per tonne, up $0.34 pe...Read More

Metal held outside of London Metal Exchange warehouses fell for the third month in a row to just above 1 million tonnes in May, according to data released by the LME, with the amount aluminium and copper falling by more than 10%.Across all metals, stocks fell by 140,246 tonnes through May to 1,037,379 tonnes, the latest LME off-warrant stock report shows, down from 1,177,625 tonnes in April.The bi...Read More

China's domestic rebar prices gained upward momentum on Wednesday July 14 due to a reduction in steel production in several provinces.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, up by 100-120 yuan per tonneThe China Iron & Steel Association (Cisa) reports that steel production dropped sharply in early July, posting a second consecutive 10-day...Read More