Novolipietsk Steel (NLMK) - the largest steel producer in Russia - will start the rolling mill modernization at its Belgian subsidiary NLMK Clabecq, the company said on Tuesday October 20.A ?,?30 million ($35 million) plate rolling mill upgrade will include the installation of a new descaling system with two new descalers and the modernization of the four-stand finishing mill, NLMK said.Despite th...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated $33.57 per cwt ($671.40 per ton) on Wednesday October...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
Low demand for heavy steel plate in Europe did not allow steelmakers to achieve their targeted price increases and threatened instead to drag prices downward, sources told Fastmarkets on Wednesday October 21.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged at ?,?460-470 ($543-555) per tonne on October 21.The assessment reflected achievable p...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
Iron ore futures gained again on Wednesday October 21, following an uptrend in steel futures amid a drop in steel inventories, with the seaborne market remaining stable on limited trading activity, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $120.49 per tonne, up $0.88 per tonne62% Fe low-alumina fines, cfr Qingdao: $120.64 per tonne, up $0.59 per tonne58% Fe fi...Read More
Domestic prices for steel cold-rolled coil in Europe were fairly stable in the week to Wednesday October 21 with buyers continuing to monitor the market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?570-590 ($673-696) per tonne on October 21, compared with ?,?570-580 per tonne a week earlier.The assessment reflected "workable" p...Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
A summary of W Resources third-quarter results at its La Parilla, tungsten and tin project in the Extremadura region of Spain, according to a quarterly production report released on Wednesday October 21.In brief: Tungsten and tin concentrate production totaled 77.6 tonnes during the quarter, down by 13% on a like-for-like basis and up by 104% on a pro-rata basis (third-quarter 2020 production was...Read More
A climbing London Metal Exchange tin price and continued contango were at odds with dim physical demand in the United States and Europe in the week to Tuesday October 20. US tin demand continued to be weak but higher freight costs capped the slide in the delivered price. European trading activity was absent this week. There were few imports to China, keeping premiums stagnant. Tin premiu...Read More
Premiums for lead in the United States inched up on Tuesday October 20 on returning demand from the automotive sector, which is adding to seasonal stockpiling to prepare for battery replacements. US lead premiums rise on automotive battery demand. European zinc premiums firm with buying seen from diecasters and galvanizers. Shanghai zinc markets were flat on worsening import arbitrage. U...Read More
London copper futures broke above $7,000 per tonne for the first time since early 2018 on Wednesday October 21, with the wire-making metal's green credentials being touted as bullish for future demand at the virtual LME Week forum.The London Metal Exchange's three-month copper contract traded at a high of $7,027 per tonne in afternoon trading on Wednesday October 21, its highest level since J...Read More
Spot copper cathode premiums increased in the United States and East Asia in the week to Tuesday October 20, with additional rates being paid for prompt material and specific brands, while annual contract negotiations are under way, with producers rolling over offers into Europe for next year.Producers offer rollovers into Europe for 2021 supply Extra premiums on top brands for Asia buyers US cons...Read More
Wire rod prices in the United States have inched slightly higher month on month due to increasing demand while imported wire rod prices again remained flat.Fastmarkets' monthly price assessment for steel wire rod (low carbon) industrial quality, fob mill US rose by 0.8% to $31.25-32.25 per hundredweight ($625-645 per short ton) on Tuesday October 20 from $31-32 per cwt previously.Fastmarkets' pric...Read More
ArcelorMittal Europe has increased the price of hot-rolled coil (HRC) in long-term contracts with steel distributors and service centers in the north of the EU, sources told Fastmarkets on Wednesday October 21.The new offer price was ?,?550 ($649) per tonne ex-works, up by roughly ?,?80 per tonne compared with previous contracts, according to market participants' estimates.Market sources also said...Read More
European buyers expected steelmakers to announce domestic price increases because they have good order books at a time of tight supply, market sources told Fastmarkets on Wednesday October 21.Prices have either been stable or have moved slightly upward over the past week with buyers taking a watchful stance, according to market participants."The market is a bit quiet at the moment, because many ar...Read More
The price of hollow steel sections in Europe increased sharply this week while mills continue to push for and achieve higher prices, market sources told Fastmarkets on Wednesday October 21.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?630-650 ($744-767)per tonne on Wednesday, up from?,?600-630 per tonne one week previous. "Demand is okay, the...Read More