Here are five Fastmarkets stories you might have missed on Tuesday November 10 that are worth another look.Prices for steel billet imported to Southeast Asia have been heavily inflated amid bullish Chinese steel markets this week, market participants told Fastmarkets on November 10.The licenses for an additional 30,000...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 10. Please click...Read More
Steel scrap prices in Mexico rose again in all regions of the country during the week ended Friday November 6 amid strong demand and limited supply, with special interest from buyers in the obsolete grades like plate and structural scrap, turnings and shredded scrap.Prices were stronger in Mexico's central Baj?-o region, where buyers in San Luis Potos?- state were avidly seeking material and payin...Read More
Tin was the LME outlier on Tuesday November 10, with its price down 0.02% from Monday's close - when markets were boosted by Joe Biden's success in the US election and news of an effective vaccine against Covid-19 emerged. All other LME base metals closed up on the previous day's afternoon kerb on Tuesday, with most prices across the complex rangebound following a rally the previous day.But the ca...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 10 that are worth another look.Prices for steel billet imported to Southeast Asia have been heavily inflated amid bullish Chinese steel markets this week, market participants told Fastmarkets on November 10.The licenses for an additional 30,000...Read More
The European titanium markets look set to remain buoyant through 2021 and well into 2022, with a shortage of titanium scrap underpinning both feedstock and alloy prices, according to industry sources.The titanium scrap market may be in deficit until at least early 2022, sources said, and aerospace - a key supply sector - is expected to struggle to recover output after the Covid-19 p...Read More
There are tremendous opportunities for manganese and vanadium in the global trend of electrifications, and the battery sector will outpace the steel industry in terms of boosting demand growth for those materials, delegates heard at Fastmarkets' International Ferro-alloys virtual conference on Tuesday November 10. Competitive cost and comparatively diverse supply are likely to dictate the shift in...Read More
Tin was the LME outlier on Tuesday November 10, with its price down 0.02% from Monday's close - when markets were boosted by Joe Biden's success in the US election and news of an effective vaccine against Covid-19 emerged. All other LME base metals closed up on the previous day's afternoon kerb on Tuesday, with most prices across the complex rangebound following a rally the previous day.But the ca...Read More
Seaborne premium hard coking coal prices in the fob market edged up on Tuesday November 10 on active trading, while cfr hard coking coal prices jumped because of Chinese restrictions on Australian coal.Fastmarkets indicesPremium hard coking coal, fob DBCT: $108.09 per tonne, up $1.31 per tonne Premium hard coking coal, cfr Jingtang: $146.70 per tonne, up $2.36 per tonneHard coking coal,...Read More
Seaborne iron ore prices were up on Tuesday November 10 amid strong demand for rebar in China, but some market participants told Fastmarkets that the long-term outlook is not looking so positive.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.27 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.74 per tonne, up $0.49 per tonne58% Fe fines high-grade pr...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More
Steady fundamentals kept aluminium premiums unchanged in most regions on Tuesday November 10, with premiums in the United States Midwest, Rotterdam and Japan remaining stable and those in Italy and South Korea moving lower.US Midwest premium holds amid tight supplyRotterdam premiums steady on supportive contangoMJP premium flat in quiet marketUS Midwest premium holds after presidential election re...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? Flat steel product prices in the United States moved largely in line with our expectations in October, although the increases slightly outpaced our projections. US hot-rolled coil prices averaged $655 per ton in October, exceeding our forecast price of $640 per...Read More
The licenses for an additional 30,000 tonnes of duty-free aluminium imports that were added to the annual quota by the authorities in Brazil have already been completely used by the industry, Fastmarkets heard on Tuesday November 10."The additional 30,000-tonne quota is, indeed, exhausted for new import licenses at the moment," a spokesperson for the foreign trade and international affairs secreta...Read More
Aluminium stocks at Shanghai-bonded warehouses surged by over 200% year on year in October on a profitable import arbitrage, while copper inventories grew on both annually and quarterly comparisons.Open arb window, good demand support aluminium stocks increaseFastmarkets assessed Shanghai-bonded aluminium stocks at 30,000-30,500 tonnes on Friday October 30, up by 203% from 9,500-10,500 tonnes in t...Read More
Huasheng alumina refinery in Guangxi province, southern China, has started operations on its second production line that will add 1 million tonnes per year of alumina capacity to an already oversupplied market, sources told Fastmarkets on Monday November 9. "I heard their second operation line was ready for production and they began putting raw material into the newly-built operation line in late...Read More
LME three-month base metals prices held slim gains in the morning session on Tuesday November 10, buoyed by bullish sentiment arising from Joe Biden's US presidential win and Pfizer's Covid-19 vaccine announcement on Monday.However, some industry analysts were not optimistic that the recent rally across London Metal Exchange base metals prices was sustainable, and suggested that prices have b...Read More
Domestic prices for hot-rolled coil in Northern Europe increased day on day on Tuesday November 10, due to long lead times for domestic material and lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?521.67 ($618.77) per tonne on Tuesday, up by ?,?8.54 per tonne from ?,?513.13 per tonne on Monday.The in...Read More
Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil, sources said on Tuesday November 10.Local demand was strong for flat steel in India and China, the main exporters of flat steel to the UAE and Saudi Arabia, so only China made a limited quantity of offers at high prices.UAEOffer prices for HRC from Chinese supplier...Read More
The recovery of demand for imports of steel billet into China that started last week, and pushed up the prices in the wider Asian region, has played to the advantage of CIS exporters.CIS mills were already almost sold out for December-shipment volumes and were now hoping for higher prices for January-shipment cargoes. Late last week, billet from the CIS region was available within the range of $42...Read More