Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More
There was a surge in buying activity in the Chinese copper scrap market in the second half of October after the release of a long-awaited announcement that the purchase of high-purity scrap will be permitted as a recyclable copper material from next month. "Everyone has returned to the market to buy [non-ferrous scrap] since the announcement," a trader source said. With overseas copper scrap more...Read More
Fastmarkets' research team took the number one spot on the base metals predictions leaderboard for the third quarter of 2020 with a 98.83% accuracy score while ED&F Man Capital Markets' Edward Meir clinched the top spot for precious metals predictions over the period with a 93.31% accuracy rating. For steel raw materials, ABN Amro's Casper Burgering was number one with an accuracy score of 89.47%....Read More
The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26. "In terms of size, [lithium] is now at a level where it can support an actively traded...Read More
While the initial appetite to hedge exposure to volatile lithium prices came from automakers expanding their electric vehicle (EV) fleets, an appreciation for short-term pricing and risk management tools has since filtered upstream, delegates heard during Fastmarkets' virtual Lithium Supply & Markets conference on Monday October 26. "Lithium often came up [in conversations with carmakers] because...Read More
Lithium spot prices are starting to change direction upward but it will take time for a rebound across the whole lithium complex, Fastmarkets head of battery raw materials research and base metals William Adams during a panel discussion at the Lithium Supply & Markets conference on Monday October 26. "We're starting to see a move up [for spot prices] and by the end of next year will start to see a...Read More
Hot-rolled coil prices in the United States climbed for the eighth consecutive business day while tight supply continued to bump up against rising demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.10 per hundredweight ($682 per short ton) on Monday October 26, up by 1% from $33.76 per cwt on Friday October 23 and 2.1% higher than $33.39 per cwt a week ago on...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
Domestic prices for steel hot-rolled coil across Europe were fairly stable over the week to Friday October 23, but the mills were expected to increase their spot-market offer prices soon.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?496.67 ($588.80) per tonne on Friday, up by ?,?0.84 per tonne week on week and by ?,?9.06 per tonne month on month...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow remained broadly stable this week, despite producer attempts to raise prices for November deliveries, sources told Fastmarkets on Monday, October 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 40,000-41,000 roubles ($526-539) per tonne on October 26, incl...Read More
China's domestic rebar prices dropped slightly on Monday October 26 on high, but declining, inventories. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($554-558) per tonne, down by 10 yuan per tonneChina Iron & Steel Association reported that rebar stock in China's major markets was about 6.33 million tonnes in mid-October, down by 6.2% from earlier in the month...Read More
Singapore-based rebar buyers bought fresh quantities of Turkish rebar in the week to Monday October 26 on returning spot demand, sources told Fastmarkets.A group of buyers had to purchase 50,000 tonnes of January-shipment Turkish rebar from a producer located in Izmir, sources said, although this could not be directly confirmed by some of the counterparties heard to be involved in the transaction...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More
Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week. "The higher production and shipments from Australian miners over [the fourth quarter] is pretty normal as seen over the years. It is their way of pushing to meet their half-year targets for the financial year...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
CIS-based suppliers of steel billet continued to increase their offer prices for foreign customers at the end of October with support from reduced availability of material scheduled for shipment in December.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was calculated at $410 per tonne on Monday October 26, up by $4 per tonne day on day.The recent uptick in import scrap prices...Read More
China's domestic rebar prices dropped slightly on Monday October 26 on high, but declining, inventories. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($554-558) per tonne, down by 10 yuan per tonneChina Iron & Steel Association reported that rebar stock in China's major markets was about 6.33 million tonnes in mid-October, down by 6.2% from earlier in the month...Read More
Portside prices for low- and high-grade manganese ore in China fell for the sixth consecutive week in the week to Friday October 23, partly as a result of traders lowering their offer prices to secure deals with domestic alloy smelters, market participants told Fastmarkets. Both prices are at their lowest levels since November 8, 2019, when the low- and high-grade ore stood at 31.70 yuan ($4.73) p...Read More