The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased in the week to Wednesday October 14, supported by reduced availability of the material in the spot market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?590-600 ($694-706) per tonne ex-works on October 14, up by ?,?5-10 per tonne from ?,?580-595 per tonne ex...Read More
Iranian export prices for steel billet increased slightly in the week to Wednesday October 14, with traders accepting higher prices in the latest round of bookings.Last week, most Iranian producers finally returned to the market, placing fresh tenders for cargoes to be shipped in October and December. Mills were waiting for China to return from a week-long national holiday to see the market trend....Read More
Key data from Fastmarkets' pricing session on Wednesday October 14 for the daily alumina index.Fastmarkets' alumina index, fob Australia, was calculated at $272.83 per tonne on Wednesday, its highest since September 9. This was up by 3% week-on-week from $264.42 on October 7.Key drivers The latest deal was concluded at $274 per tonne fob Western Australia on Tuesday. The deal was for 30,000 tonnes...Read More
The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More
Fastmarkets is updating market participants on its initiative to price the physical low-carbon aluminium market. Due to feedback received already, Fastmarkets has narrowed down the possible options for a pricing mechanism and streamlined the consultation. This update is part of the original consultation that launched on September 1 and is due to close on December 1. Low-carbon differential Fa...Read More
Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More
The Shanghai zinc premium was unchanged in the week to Tuesday October 13 despite rising arbitrage opportunities, while spot interest for both European zinc ingots and secondary lead from Indian buyers bolstered respective premiums.China's return to the market sees arbitrage opportunities emergeIndian lead market gets battery-demand boostEuropean spot demand gathers momentumUnited States lead and...Read More
Copper premiums across Asia, Europe and the United States were unchanged in the week to Tuesday October 13, with market participants turning their attentions to the benchmark negotiations for 2021 supply at next week's annual LME gathering. Rotterdam premiums hold ahead of annual contract talks coming next week. Asia spot market remains weak amid close arbitrage window. Absence of spot...Read More
Brazilian imports of flat and long steel dropped in September, with lower import volumes from China partially compensated for by higher volumes from Russia.Imports of flat-steel products fell 9.9% year on year in September, to 79,715 tonnes from 88,498 tonnes the year before, according to figures released last week by the Brazilian economy ministry.Shipments, however, increased 20% from...Read More
Brazilian steel scrap exports soared in September both year on year and compared with the previous month due to an unusually significant volume shipped to China by a shipyard under bankruptcy protection, according to national ferrous scrap association Inesfa.Exports totaled 97,312 tonnes in September, up by 19.7% from 81,295 tonnes in the same month last year and by 75.7% from 55,377 tonnes in Aug...Read More
The price of hollow steel sections in Europe moved up again this week with mills continuing to push for increases, market sources told Fastmarkets on Wednesday October 14.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($706-742) per tonne on Wednesday, up from ?,?590-620 per tonne one week before.The price of hot-rolled coil, the feed...Read More
European producers were planning to increase their official offer prices for domestic hot-rolled coil despite buyers taking a watchful stance until the price trend became clear, sources told Fastmarkets on Wednesday October 14.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.00 ($582.64) per tonne on Wednesday, up by ?,?1.25 per tonne from ?,?4...Read More
Turkish steel producers have continued their deep-sea scrap imports at firm prices thanks to improving demand for long steel products in the country's export markets, sources said on Wednesday October 14.A steel mill in the Iskenderun region booked a US cargo, comprising 6,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 17,000 tonnes of bonus at $297...Read More
Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More
Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More
China will release new standards for steel scrap imports by the end of 2020, the National Standard Formation Committee said at a recycled raw materials conference in Shanghai.The new standards will support the rising demand for ferrous scrap in China and will introduce the nationwide classification and regulation of high-quality scrap, according to the China Metallurgical Information & Standardiza...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 14.Read More
China's domestic rebar prices continued to slide on Wednesday October 14 amid high stock levels of mills and the spot market. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($550-555) per tonne, down by 10 yuan per tonneMajor steel mills had 13.59 million tonnes of finished steel inventory in early October, up by 17.22% from late September, while stock levels in the spot market amounted to 12....Read More
London Metal Exchange three-month base metals prices were broadly trading up on the previous day's close during the morning session on Wednesday October 14, with a weaker US dollar index boosting trade over the period.The US dollar index was down by a marginal 0.04% at around 93.51 on Wednesday morning, adding additional price support to LME futures prices amid the dip buying interest that has eme...Read More