The London Metal Exchange three-month nickel price made significant gains in the morning session on Wednesday October 28, rising 2.5% from the previous day's close to hit an intraday high of $16,310 per tonne - a fresh year-to-date high. LME nickel futures bucked the complex's current sideways trading trend, in which most metals continue to wax and wane in line with the US equities markets, on Wed...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Approaching the end of the calendar year, steelmakers and consumers enter a busy period of contract negotiations for supply for 2021 or at least the first quarter or half year.With the sharp increases in spot market steel prices during recent months, steelmakers are understandably looking to take advantage and secure higher c...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for most ferro-alloys maintained their upward momentum into October, solidifying previous gains and reflecting the improved demand from steelmakers, the rebuilding of depleted inventories, and the supply-side concerns following both planned and unplanned outages. Gains were noted for ferro-silicon, silicon metal, mang...Read More
Domestic prices for hot-dipped galvanized coil in Northern Europe increased in the week to Wednesday October 28, supported by reduced availability of the material in the spot market and strong demand from the automotive sector, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?600-620 ($709-733) per tonne ex-works on October 28,...Read More
An overview of the consumers electronics markets and their latest price moves.Read More
Copper miner KAZ Minerals is set to be taken into private ownership after its largest shareholders, including Vladimir Kim, offered $2.47 billion to buy out the rest of the company's stakeholders.The bid of 640 pence ( ?6.40, $8.34) per share is being led by the company's chairman, Oleg Novachuk, and Kim, Kazakhstan's richest man. Kim was a non-executive director and chairman of the company when i...Read More
The three-month nickel price on the LME was weaker at the close of trading on Wednesday October 28, down by more than 1% against spread tightness and selling pressure, in addition to a steady rise in the US dollar index.London Metal Exchange lead futures, meanwhile, bucked the downward trend to end the day as the only positive close. Nickel's outright price on th...Read More
Nickel premiums in all global regions were static in the week to Tuesday October 27 due to a high London nickel price and low arbitrage opportunities. China sees minimal trade with importing incentive still low. European trade inhibited by higher London Metal Exchange prices and lower contango. Spot trade subsides in the United States after a burst last week. Wider arb loss limits Chi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 28.Please click...Read More
A summary of the third-quarter results for 2020 from Eramet published on Wednesday October 28. Eramet sales fell in the third quarter of 2020 due to a sharp decline in raw materials sales prices, with manganese ore prices falling by 26% and ferro-nickel prices down 17%.Nickel ore prices, meanwhile, were up 35%.Manganese alloy production and sales fell by 1.6% to...Read More
US President Donald Trump has signed a proclamation ending the 10% duties on Canadian aluminium entering the country, under the condition imports do not surge in the coming months. The proclamation on Tuesday October 27 follows an announcement from the US Trade Representative (USTR) on September 15 ending Section 232 tariffs on Canada which had just been reimposed in August. Similarly to that...Read More
Brazilian flat and long steel producer Gerdau is optimistic about the country's steel demand in 2021, chief executive officer Gustavo Werneck said on Wednesday October 28."We are foreseeing a growth of steel demand somewhere between 6-8% [in 2021] compared with 2020," Werneck said. Brazilian apparent steel consumption is expected to fall by 4.7% this year, to 20 million tonnes from 20.98 million t...Read More
The steel industry must innovate further and look to other sectors for solutions, Tata Steel chief executive TV Narendran said during Fastmarkets' Steel Success Strategies 2020 virtual conference on Wednesday October 28.Traditionally, the industry has been more focused on continuous improvement than on innovation, Narendran said, having pushed for efficiency improvements and incremental performanc...Read More
Domestic prices for heavy steel plate went down in Europe in the week to Wednesday October 28 due to poor demand, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?450-465 ($532-549) per tonne on October 28, down by ?,?5-10 per tonne from ?,?460-470 per tonne.The assessment reflected offers and achievable prices heard i...Read More
Domestic prices for hot-rolled coil in Northern Europe have increased both day on day and week on week, supported by good order books among the region's steelmakers and a lack of overseas alternatives, market sources told Fastmarkets on Wednesday October 28.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.00 ($596.70) per tonne on Wednesday, up...Read More
The price of mesh-quality steel wire rod has been broadly stable in Southern Europe over the past week, despite reduced buying activity caused by growing uncertainty over further Covid-19 lockdowns in the region. Short supplies and good producer order books were supporting prices, sources told Fastmarkets on Wednesday October 28.Fastmarkets' weekly price assessment for steel wire rod (mesh-qu...Read More
Prices in the stainless steel scrap market in the United States were little-changed this week due to dealers and processors moving cautiously in the market."It seems like both the mills and the processors have decided to drop anchor at these levels for awhile," one dealer said. "I doubt there will be any significant changes as we head toward the end of the year, given the tremendous amount of...Read More
A Turkish steel mill booked a mixed Baltic Sea scrap cargo at higher prices late on Tuesday October 27, confirming this week's upward price trend, sources told Fastmarkets on Wednesday.The Baltic Sea cargo, booked late on Tuesday evening, comprised 9,000 tonnes of HMS 1&2 (80:20) at $292.50 per tonne, 8,000 tonnes of shredded at $297.50 per tonne and 4,000 tonnes of bonus at $302.50 per tonne...Read More
India will miss its forecast steel targets in 2030, but the sector should continue to grow on increased government spending, Tata Steel chief executive T.V. Narendran said during Fastmarkets Steel Success Strategies 2020 virtual conference on October 26-28During a Q&A session Narendran was asked to comment on the future of the Indian steel market and production as well as the sustainable growth ra...Read More
Seaborne iron ore prices were up on Wednesday October 28 amid an uptrend in the futures market, which was prompted by low steel reinforcing bar (rebar) inventories, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.87 per tonne, up $1.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.10 per tonne, up $1.09 per tonne58% Fe fines high-grade premium, cfr Qing...Read More