Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...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.The outbreak of coronavirus, the oil price crash and the impending global recession present an enormous challenge for energy and natural resources. How are you keeping up with the spread of Covid-19 and its impact on your sector?We&rs...Read More
RAPAPORT... US retail sales slipped in July amid supply-chain disruptions and a shift in spending from goods to activities, the National Retail Federation (NRF) said Tuesday.Revenue fell 1.1% from the previous month, according to data it cited from the US Census Bureau. For comparison, June saw a gain of 0.7% over May. While July sales increased 16% year on year, the rise was primarily due to a fa...Read More
RAPAPORT... It's been a summer heat wave of sales. Wholesalers were using superlatives to describe their business, and reporting percentage increases that would more likely be associated with start-ups than with long-established companies. New York: Positivity reigns"We've seen good times, but not like this. It's fantastic," said Ketan Mehta, president of New York-based manufacturer and trader Div...Read More
Domestic prices for heavy steel plate in Europe were fairly stable in the week ended Wednesday August 18 due to seasonally low market activity during the August holiday period, sources told Fastmarkets.Demand was expected to recover in September, following the traditional cycle.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?940-950 ($1,104-1,116) per to...Read More
RAPAPORT... A 14.6-carat lab-grown is the largest gem-quality diamond ever made using the chemical vapor deposition (CVD) method, claims the International Gemological Institute (IGI), which recently graded the stone.The square emerald-cut gem from Mumbai-based grower Ethereal Green Diamond has F color and VS2 clarity, IGI said last week. The stone has received the name Freedom of India, a ref...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 18.Please click...Read More
(IDEX Online) - The Mir mine, closed in 2017 after a flooding accident that claimed eight lives, could re-open.Sergey Takhiev, head of Alrosa's corporate finance department, says a decision on its future will be taken in the coming months."Alrosa can decide whether to rebuild its underground Mir mine halted due to the accident in 2017 in late 2021 - early 2022," he said yesterday.Eight miners...Read More
(IDEX Online) - Tennis superstar Serena Williams has signed an exclusive deal to sell her jewelry range through US retailer Zales. The 23-time Grand-Slam winner launched Serena Williams Jewelry in November 2019, featuring gold and silver rings, bracelets, necklaces priced from $299 to $10,000.Zales, which has over 700 stores and is part of the Signet empire, says it will now be the sole retai...Read More
Copper's price fell to its lowest level since June 21 during trading on Wednesday August 18, pushing all metals on the London Metal Exchange to a decline and causing some to drop below their support levels, while backwardations spread across the complex on cash-to-three month spreads. Risk-off sentiment prevailed on the LME during trading, in part due to a United States dollar index of 93.26 on We...Read More
The United States remained the bright spot for the physical trading of lead in the week to Wednesday August 18 amid a massive backwardation, while appetite for zinc was weak in Europe and China, Fastmarkets has heard.Wide backwardation in lead spread reduces spot trading interest in Asia, USLondon Metal Exchange lead inventory at low level, while Shanghai Futures Exchange lead inventory runs highP...Read More
Copper cathode premiums are rising in China, with positive arbitrage fueling imports after months of depressed demand. Premiums in the United States remain strong with the market eyeing the progress of the country's infrastructure bill through Congress.Arbitrage driving premiums in ShanghaiSoutheast Asia market weak on pandemic shutdownsUS premiums remain elevatedShanghai premiums continue to rise...Read More
A summary of BHP's financial results for the year ended June 30, as published on Tuesday August 17. Record free cash flow of $19.4 billion generated during 2021 financial year.Return on capital employed strengthened to 32.5%. Net debt at $4.1 billion on June 30. Final dividend of $2 per share, which brought BHP's returns to shareholders...Read More
Nearby spreads for some metals continued to be tight, while London Metal Exchange prices mostly decreased on the morning of Wednesday August 18 following the sell-off on Tuesday."The LME Index (LMEX) fell 1.2% [on Tuesday] alongside United States equity markets, which suffered the biggest decline in a month, as concerns intensified that the delta variant will weigh on growth," LME Desk analyst Ann...Read More
Hot-rolled coil prices in the United States consolidated around the $96-per-hundredweight ($1,920-per-short-ton) level on Wednesday August 18, with opinion split among market sources whether the price will soon peak.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.98 per hundredweight ($1,919.60 per short ton) on August 18, rising by 0.11% from $95.87 per cwt on Tu...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton in August to a record high set in 2008, while imports slipped from a record high. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $56-59 per hundredweight ($1,120-1,180 per short ton) on Tuesday August 17, up by 2.68% from $55-57 per cwt on July 20, and up by 6.48% fro...Read More
The United States Department of Commerce ordered a final anti-dumping duty rate on sales of certain steel and alloy wire rod from Mexico shipped to US that were made at a less-than-normal value from October 1, 2018 through September 30, 2019, according to a notice in the Federal Register on Wednesday August 18.The order is a result of the agency's investigation into wire rod shipments to the US fr...Read More
Export prices for CIS-origin steel billet from the Black Sea basin continued to decrease in the week to Wednesday August 18 amid bearish sentiment in the major outlet markets.After concluding several sales to customers in Latin America late last week, mills in the Commonwealth of Independent States had covered the demand in this market, which appeared to be the highest-paying at the moment.Other m...Read More
Trading activity was close to zero in the European hot-rolled coil markets on Wednesday August 18, with buyers having mixed outlooks for September, when demand was expected to recover, sources have told Fastmarkets.Most of the region's buyers and producers have been holding back from trading so far during August, following traditional patterns of activity.Northern European buyers were already slow...Read More
The steel rebar market in Southern Europe remained quiet, with prices flat, in the week to Wednesday August 18, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe was unchanged at ?,?760-805 ($893-945) per tonne on August 18.Trading in Italy and Spain was seasonally low, with buyers and mills holding back from the ma...Read More