Domestic prices for steel hot-rolled coil increased in Northern Europe in the week to Friday November 6, due to good order books at European mills amid long lead times and limited offers for imported coil.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?512.53 ($608.52) per tonne on Friday, up by ?,?7.53 per tonne week on week and by ?,?16.07 per t...Read More
TradeCloud chief operating officer Matthew Botell says technology solutions are there to help commodity traders amid thinning margins and sliding credit availability, if market participants are just willing to give them a try.Botell - former Coo of Trafigura's metals and bulks division - set up the fintech company as a platform for securing commodity business in 2016 with Simon Collins who held th...Read More
Imports of standard P1020 aluminium to the United States from Canada continued to decline in September, while as demand for value-added products (VAP) has revived, US Census Bureau data shows.According to the data, imports of unalloyed, P1020 primary aluminium from Canada totalled 66,100 tonnes in September, down by 52.5% year-on-year and 48.7% compared with August. This was the thi...Read More
Metalex - an industrial aluminium recycling plant owned by Brazilian producer Companhia Brasileira de Alum?-nio (CBA) - will invest 50 million Reais ($9.3 million) to increase scrap treatment and add to its extrusion billet production capacity, CBA said.The expansion project for its plant in Ara??ariguama, a city in southeast Brazil, is divided in to two phases.First, Metalex will install a side w...Read More
Alumina exports from Brazil in October were significantly down by 32.9% year on year after both Alunorte and Alumar shipped less material, data from the ministry of economy published on Friday November 6 shows.Exports totaled 500,888 tonnes in October, down from 746,998 tonnes a year before, the ministry's data showed.The most pronounced fall came from Alunorte, the refinery owned by Norwegian com...Read More
Fastmarkets has corrected its zinc bonded stocks assessment, which was published incorrectly on Friday October 30 due to an input error.Fastmarkets' Shanghai bonded zinc stocks, tonnes assessment was incorrectly published as 66,000-73,000 tonnes, when it should have been 25,000-27,000 tonnes.Fastmarkets' price book and database has been updated to reflect this change.For more information or to pro...Read More
The three-month nickel price was the standout performer during morning trading on the London Metal Exchange on Monday November 9, with a continued fading of the United States dollar index supporting buying momentum, while US presidential candidate Joe Biden's nomination to the White House saw positive trading across the complex. Nickel's outright price on the LME was recently seen at $15,835 per t...Read More
European distributors of flat steel products reported a 3.7% year-on-year rise in shipment volumes in September, regional steel industry association Eurometal said on Monday November 9.Over the first nine months of 2020, flat steel distributors' shipments, however, dropped by 16.1% year-on-year.Eurometal did not disclose individual product volumes.Fastmarkets calculated its daily steel hot-rolled...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up slightly day on day on Monday November 9, supported by long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?513.13 ($609.23) per tonne on Monday, up by ?,?0.60 per tonne from ?,?512.53 per tonne on Frid...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were broadly stable over the seven days to Monday November 9 in a seasonally slower market, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, remained at 40,000-41,000 roubles ($516-529) per tonne including 20% VAT on Monday.In US dollar t...Read More
Slab export prices from Brazil increased in the week to Friday November 6 as buyers in the United States negotiate January-shipment batches.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, rose to $500-540 per tonne fob on Friday, up by $10-35 from $490-505 per tonne fob the previous week.Offers for Brazil-origin slab were reported as high as $540 per tonne fob.Al...Read More
Domestic flat steel prices in Russia's Central Federal District around Moscow were largely flat over the week to November 9, despite producers' attempts to push for increases and a slow secondary market demand blocking that rise, sources told Fastmarkets on Monday.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia remained at 43,000-44,000...Read More
China's hot-rolled coil exporters raised offers significantly on Monday November 9 despite thin trading, triggered by slumps in the United States dollar caused by investor expectations of monetary easing in the United States after Joe Biden's presidential election triumph.DomesticEastern China (Shanghai): 4,080-4,100 yuan ($617-620) per tonne, up 40 yuan per tonneTrading was active in the domestic...Read More
Steelmakers in Turkey stepped back from deep-sea purchases on Monday November 9, after the value of the Turkish lira increased by just under 4% in one day, sources told Fastmarkets.Turkish steelmakers booked eleven deep-sea cargoes last week.However, the Turkish currency rebounded sharply after the news of the resignation of Turkey's economy minister and the replacement of the central bank go...Read More
Turkish domestic auto bundle scrap prices have edged further upward in line with imported scrap values over the past week, while ship scrap prices were fairly stable, sources said on Monday November 9.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,210-2,455 lira ($259-288) per tonne on Monday, widening upward from 2,210-2,380 lira per ton...Read More
Iron ore prices increased in both the futures and seaborne markets on Monday November 9, sources told Fastmarkets, supported by rising steel prices and despite stronger sintering restrictions in China's steelmaking hub of Tangshan. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.75 per tonne, up $3.95 per tonne62% Fe low-alumina fines, cfr Qingdao: $122.25 per tonne, up $4.2...Read More
The seaborne hard coking coal index in the cfr market jumped to $125 per tonne on Monday November 9 due to the absence of Australian coal, while the fob market remained relatively weak, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.78 per tonne, down $0.67 per tonne Premium hard coking coal, cfr Jingtang: $144.34 per tonne, up $0.41 per tonneHard coking coal, fob DBCT: $...Read More
A summary of Vedanta Limited's report for the three months ended September 30 - the second quarter of its financial year.In briefEarnings before interest, taxes, depreciation and amortization (Ebitda) for the quarter amounted to 65.31 billion rupees ($881.96 million), up by 45% year on year and 63% higher quarter on quarter Revenues totaled 208 billion rupees - a 33% increase from its first quarte...Read More
China's iron ore imports increased by 14.9% year on year in October 2020, according to data from the General Administration of Customs of China.China's October iron ore imports reached 106.7 million tonnes, up from 92.9 million tonnes in October 2019, according to customs data released on Saturday November 7, although they edged down 1.7% from 108.5 million tonnes in SeptemberIn January-...Read More
Prices for seaborne iron ore concentrate picked up in the week ended Friday November 6 amid growing demand in China ahead of the onset of winter, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $127.66 per tonne, up $1.27 per tonne65% Fe blast furnace pellet, cfr Qingdao: $150.71 per tonne, up $0.16 per tonne Key driversA colder-than-usual winter has been fore...Read More