Aluminium premiums in the United States and Europe fell in the week to Tuesday October 13, with a narrowing cash/three-month contango on the London Metal Exchange and a backwardation on the December/three-month spread incentivizing market participants to sell off metal.Narrow LME spreads bring Rotterdam premium down 10% week on week.US Midwest premium also drops on narrowing contango.Main Japanese...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 13.Please click...Read More
An overview of the chrome ore and alloy markets and their latest price moves. China The spot domestic ferro-chrome price was supported at current levels by active demand on post-Golden Week restocking. Positive market sentiment for the charge chrome market stayed intact following the release of October ferro-chrome tender prices. Chinese leading stainless steelmakers Taiyuan...Read More
Customs officials in southern China have impounded just under 10,000 tonnes of copper 'concentrates' after it turned out to be smelting waste, which is prohibited from entering the country.Customs inspectors at Fangchenggang, in Guangxi province in southern China, said the cargo was reported by a Shanghai-based company as copper concentrates - a feedstock used by copper smelters for making refined...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 13 that are worth another look.The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for...Read More
The Turkish steel mills have purchased further deep-sea scrap material at firmer prices, market sources said on Tuesday October 13.A steel mill in the Izmir region booked a US cargo consisting of HMS 1&2 (80:20) at $285 per tonne and bonus at $295 per tonne cfr.The supplier did not wish to disclose the composition of the cargo when contacted.This compared with the previous US cargo sold on October...Read More
Customs officials in southern China have impounded just under 10,000 tonnes of copper 'concentrates' after it turned out to be smelting waste, which is prohibited from entering the country.Customs inspectors at Fangchenggang, in Guangxi province in southern China, said the cargo was reported by a Shanghai-based company as copper concentrates - a feedstock used by copper smelters for making refined...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Tuesday October 13, while those on the Shanghai Futures Exchange were either unchanged or firmer, as were equities. Equities seem to be maneuvering for a United States democratic presidency and all the extra stimulus that might bring. But LME metals are not following equities this morning. Base metalsTh...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 13 that are worth another look.The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday October 13 because buyers were staying in "wait-and-see" mode until the price trend became clear, sources have told Fastmarkets.The mills, however, continued to push for higher prices because they had good order books. The majority of Northern European steelmakers claimed to be sold out for December rol...Read More
China's hot-rolled coil prices weakened on Tuesday October 13, allowing some exporters to cover their short positions and take profits.DomesticEastern China (Shanghai): 3,920-3,940 yuan ($583-586) yuan per tonne, narrowing downward by 10 yuan per tonneSeveral Shanghai-based traders said trading activity had weakened there on Tuesday, which dampened prices slightly.One trader said it...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 13 that are worth another look.The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
The Turkish steel mills have purchased further deep-sea scrap material at firmer prices, market sources said on Tuesday October 13.A steel mill in the Izmir region booked a US cargo consisting of HMS 1&2 (80:20) at $285 per tonne and bonus at $295 per tonne cfr.The supplier did not wish to disclose the composition of the cargo when contacted.This compared with the previous US cargo sold on October...Read More
Seaborne iron ore prices buckled on Tuesday October 13, amid soaring port inventories in China and weakened demand for finished steel, according to trade sources.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $121.15 per tonne, down $3.08 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.30 per tonne, down $3.14 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112...Read More
The domestic United Arab Emirates rebar price broke the steady streak held since mid-September this week after the low end of the range fell on weak demand, sources said on Tuesday October 13.Domestic rebar The country's biggest steel producer, Emirates Steel, continued to offer rebar at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, stable since September 15. Fellow...Read More
Traders in China have returned from the country's Golden Week holiday hungry for steel imports although there are significant gaps between bids and offers for major products, market participants have told Fastmarkets.Climbing Chinese steel prices, bullish sentiment over market conditions in the months ahead and production cuts in China's steelmaking hub of Tangshan are the main reasons given for C...Read More
Liberty Steel UK has started producing "green" rebar at its Rotherham mill, targeting domestic infrastructure projects, it said on Thursday October 8.The site has an electric arc furnace (EAF) and rolling mill that last week started to make what the company says is "sustainably produced" reinforcing bar that will be used to support concrete structures in major construction and infrastructure proje...Read More
The numbers of cases of Covid-19 infection have begun to grow once more across Europe, and Fastmarkets has heard the fears of various market participants about the consequences that any new restrictions or lockdowns could have for the steel sector.Earlier this year, when the Covid-19 pandemic first took hold across Europe, many countries brought in strict nationwide lockdowns, which had the effect...Read More