The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More
Vitcoin and baccines may have stolen the headlines this week faster than the election was stolen, but with silver, it's blink now and have fun chasing...(by Half Dollar) I'd like to write write about a few different topics today.BITCOINHonestly, I pay no mind to Bitcoin, or at least I pay it as little mind as possible.If you want to gamble in a rigged casino, then by all means, go have at it, but...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese domestic and export flat steel prices surged in November 2020, with the export hot-rolled coil index rising to $592 per tonne during the month from $519 per tonne previously, and the monthly average increasing by 7.5% over October.Economic activity in China continued to expand, with manufacturing output rising by 7.5...Read More
New rounds of price increases during the week ended Friday December 18 fueled the uptrend in South America's flat steel import market that has been seen throughout the fourth quarter, market participants told Fastmarkets.Chinese mills were no longer offering cargoes to the region for February shipment, and some had even denied orders for March and were awaiting the new year to offer cargo for Apri...Read More
Aluminium billet premiums in the United States, Europe and Asia rose on Friday December 18, with strong fundamentals supporting the increases.Low stocks propel US premium higher European spot market tight; participants focused on Q2 negotiations Bullish Q1 MJP P1020 negotiations pull Thailand premium upUnited StatesFastmarkets assessed the aluminium 6063 extrusion billet premium, delivered Midwest...Read More
Copper and tin set further year-to-date highs during trading on Friday December 18, with the LME base metals complex in high ground in anticipation of a US economic stimulus package. The red metal's three-month price reached a new 2020 high of $8,028 per tonne during early trading on Friday, settling at $7,985 per tonne at the 5pm close - a 0.8% rise from Thursday's $7,920 per tonne close.&nb...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou, Sybil Pan, and Sally...Read More
Spot market copper concentrate treatment and refining charges were largely unchanged while the market began to conclude annual benchmark-related supply contracts, Fastmarkets heard in the week to December 18.United States mining company Freeport-McMoRan agreed 2021 copper concentrate TC/RCs with its Chinese smelter counterparts at $59.50 per tonne / 5.95 cents per lb, their lowest since 2011.Short...Read More
Rusal has strongly denied claims that it violated the terms of its agreement with the US Office of Foreign Assets Control (OFAC) to reduce Russian billionaire Oleg Deripaska's influence over the aluminium producer.A Bloomberg News article on Thursday December 17 claimed that European officials passed on information to the US government accusing Deripaska of violating conditions that - when they we...Read More
Ulas Alkan has joined VTB Capital, where he will trade a range of commodities in the base metals space, Fastmarkets understands.Alkan joins from fellow Zug merchants Cliveden where he specialized in zinc and lead, prior...Read More
Slab export prices from Brazil were unchanged in the week ended Friday December 18, with the market adapting to the price level reached after two weeks of strong increases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was flat at $650-670 per tonne on December 18. But the price is up by $130-135 from $515-540 on November 27.Offers were reported near the top of t...Read More
Prices for cold-rolled and galvanized steel sheet have jumped again in the United States, and buyers who need spot material anticipate no near-term relief from domestic mills, where lead times ultimately may be stretching out to the spring of 2021. Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US jumped to $53.50 per hundredweight ($1,070 per short ton) on Thursday Dece...Read More
Coated coil prices hit at least $1,000 per tonne ex-works in the Turkish domestic and export markets in the week to Friday December 18 while supply remained limited, sources told Fastmarkets.Some coated coil producers sold a limited quantity of product during the week before closing their orderbooks.The reason for the limited supply is low stock of hot-rolled coil, the base product for coated coil...Read More
Flat steel prices in the Turkish market continued to rise in the week to Friday December 18, although buyers were reluctant to book material because orders placed now will be delivered in April at the earliest. Domestic prices Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $760-760 per tonne on December 18, rising from $730-750 per tonne on December 1...Read More
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Sentiment in the Commonwealth of Independent States (CIS) export steel billet market remained upbeat due to tight availability of material and surging feedstock prices, sources told Fastmarkets on Friday December 18.Billet offers from two Russian suppliers scheduled for February shipment were heard in the range of $580-600 per tonne fob on Friday, unchanged from Thursday with the majority of CIS m...Read More
Indian steel mills increased their domestic hot rolled coil prices for December sales by 1,250-2,000 rupees ($17-27) per tonne in the week to Friday December 18, marking the third increase in as many weeks. According to an official from an Indian mill, the price increase was necessary to balance the increase in production costs mainly on account of rising domestic iron ore...Read More
Steel scrap prices have risen again across all major consumer markets over the past week, driven by solid demand and constrained supplies.Turkish import scrap prices hit an eight-year high after new bookings confirmed Recent US export scrap sales shrouded in secrecy Vietnamese scrap prices buoyed by strong Japan market Taiwanese import market hits historical high India prices jump on difficult mar...Read More
The price of pig iron exports from Brazil increased again during the week to Friday December 18, reflecting further sales to the United States at higher levels.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $480-500 per tonne on Friday, up from $445-450 per tonne a week earlier. Two sales to the United States were done at $480 per tonne fob for February and...Read More
The price of austenitic alloy steel scrap in Europe and the UK edged higher this week, reflecting further rises in the cost of nickel and Brexit fears, sources told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK widened upwards to ?980-1,050 ($1,330-1,425) per tonne on Friday December 18, up by ?10 per tonne at the high en...Read More