Zinc premiums in the United States and Taiwan rose over the week to Tuesday November 3 while in Northern Europe spot zinc premiums dropped amid a dampened outlook and new regional lockdowns, sources said.US, EU zinc premiums diverge with appetite for units stronger in the former and weaker in the latter regionTaiwanese zinc premiums hit multi-month high amid demand uptick while China zinc premiums...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Flat product prices in the US moved largely in line with our expectations in October, posting impressive gains across the product range, and slightly exceeding our forecasts for coil products.Domestic hot-rolled coil prices averaged $722 per tonne in October, exceeding our forecast of $705 per tonne forecast price.Although w...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
Three-month base metals prices on the London Metal Exchange were collectively higher at the close of trading on Wednesday November 4, with upward price movements largely supported by a steady decline in the US dollar index, while broad uncertainty over the US presidential election did little to trim standout volumes over the day.Topping complex gains over the afternoon, LME zinc's outright price c...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 4. Please click...Read More
An abundance of used lead-acid batteries in the United States weighed on product prices again over the past two weeks; meanwhile, zinc scrap prices were soft relative to the London Metal Exchange zinc price, according to market sources.Fastmarkets' assessment of the lead scrap buying price, delivered smelters US fell to 65-67 cents per lb on Tuesday November 3, down by a penny from 66-68 cent...Read More
The tightness in China's domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1."We stored some volumes of standa...Read More
The recovery in Peruvian copper output off the 2020 lows, which were caused by action taken to combat Covid-19, lost steam in September, while domestic zinc production continued to climb year year on year, the country's ministry of energy and mines, Minem, said.Peru produced 171,789 tonnes of copper in September was down by 15.7% from 203,782 tonnes a year earlier, according to Minem data on Tuesd...Read More
Global nickel premiums were broadly unchanged in the week to Tuesday November 3, with a closed import arbitrage window and muted spot interest prompting no movement in premiums, sources told Fastmarkets. Absence of import opportunities leaves nickel premium static in ChinaNo spot trade reported in United States' market European market laments London Metal Exchange price spikeChina nickel business...Read More
Prices for hollow steel sections in Europe remained static this week but mills are looking to push prices higher in the coming weeks on solid order books, sources told Fastmarkets on Wednesday November 4.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?630-650 ($736-760) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil...Read More
The price of steel H-beams in Europe was unchanged this week as a result of negative sentiment related to the resurgence of the Covid-19 pandemic, sources told Fastmarkets on Wednesday November 4.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-570 ($631-666) per tonne on Wednesday, unchanged week on week.Prices have been unchanged for the past...Read More
Steel mesh-quality wire rod prices in the north of Europe remained largely unchanged in the week to Wednesday November 4, with sentiment still optimistic despite concerns over the second wave of Covid-19 infections, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged at ?,?485-495 ($567-579) per ton...Read More
Turkey exported 415,694 tonnes of flat steel products in September 2020, an increase of 5.6% from the 393,716 tonnes exported in September 2019, according to the Turkish Statistical Institute (TUIK).Most of the orders shipped in September were booked in July, when demand for flat steel was strong in Asia and North Africa, sources told Fastmarkets.Turkey's future exports of flat steel to Europe are...Read More
Turkey imported 621,912 tonnes of flat steel in September 2020, up by 3.2% from 602,707 tonnes in the corresponding period of 2019, the Turkish Statistical Institute (TUIK) said on Tuesday November 3.Demand for flat steel was strong in July, when orders for September deliveries were placed.The Turkish market for flat steel is currently experiencing moderate demand with most prices remaining stable...Read More
Limited availability of steel wire rod and low stocks at buyers pushed the price of the commodity upward in the south of Europe in the week to Wednesday November 4, sources have told Fastmarkets.The key factor supporting the rise in wire rod prices was tight supply in the market, they said.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe,...Read More
Stainless steel scrap prices in the United States faltered slightly amid a lack of demand and an erratic nickel market, as well as uncertainty about the Covid-19 pandemic and the outcome of the US federal elections."I think everyone is just waiting out this election. Not very much demand and even less supply [of material] coming in right now," one dealer said.Most sources indicated that there was...Read More
Turkish steel producers have resumed their deep-sea scrap purchases at firm prices after a week-long break, market sources said on Wednesday November 4.A steel mill in the Iskenderun region of the country booked a US cargo comprising 18,000 tonnes of HMS 1&2 (80:20) at $296.50 per tonne, 10,000 tonnes of shredded at $301.50 per tonne and 2,000 tonnes of bonus at $306.50 per tonne cfr.Another steel...Read More
Iron ore prices in the futures and seaborne markets were relatively stable on Wednesday November 4, despite new restrictions on sintering and blast furnace stoppages, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.91 per tonne, down $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.00 per tonne, down $0.63 per tonne58% Fe fines high-grade...Read More
Seaborne coking coal prices were mixed between the fob Australia and cfr China markets on Wednesday November 4, with the market largely muted awaiting the result of the presidential election in the United States.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.80 per tonne, down $0.96 per tonne Premium hard coking coal, cfr Jingtang: $137.02 per tonne, up $2.08 per tonneHard c...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More