The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loa...Read More
The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loa...Read More
Fastmarkets has corrected its chromium price, in warehouse Rotterdam, which was incorrectly published on Friday October 29 due to an editing error.The price was also published 13 minutes later than its publication time of 3pm London time.Fastmarkets' weekly price assessment for MB-CR-0001 chromium alumino-thermic 99% min, in-whs Rotterdam, on Friday has been changed to $10,500-12,000 per tonne aft...Read More
Brazilian pig iron sellers are more optimistic amid increased demand in global markets, but no deals have been heard in the country's main producing regions.Sellers have been closely watching the improvement in prices of scrap in Turkey and expect further upside. Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-510 per tonne on Friday October 2...Read More
Copper smelters returned to the spot market this week with treatment and refining charges (TC/RC) relatively stable.For smelter purchases, clean tonnages for shipment in the fourth quarter and in January were seen with TCs in the low $60s. One extra clean cargo sold in the high $50s, while a lower-grade cargo of...Read More
A summary of production figures and financial results from Brazilian steelmaker Usiminas for the third quarter of 2021, as shown in its earnings report published on Friday October 29.In brief?EUR?Usiminas' strategy of buying third-party steel slab to be rolled at the Cubat??o mill was maintained, with a significant increase in purchases year-on-year in the third quarter to 502,000 tonnes, from 240...Read More
Base metals prices on the London Metal Exchange closed lower on a week-on-week basis on Friday October 29, after Chinese state planners intervened to cool surging thermal coal prices this week.The LME three-month aluminium price closed at $2,716 per tonne on October 29, down from $2,746 per tonne at Thursday's close and was down by nearly 5.3% from last Friday's $2,868 per tonne. The price is also...Read More
Base metals prices on the London Metal Exchange were broadly down on the morning of Friday October 29 following a brief rally on Thursday, however all but aluminium look set for a positive monthly close.Aluminum's three-month price was at $2,720 per tonne at 9am on Friday, down by 1% from $2,746.50 per tonne at Thursday's 5pm close. The light metal is the only LME base metal on course for a negati...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 29.Susan Zou, Yingchi Yang and...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
A summary of production figures and financial results for Chilean state-owned copper producer Codelco in the first nine months of 2021, as stated in its earnings report released on Friday October 29.In brief Higher copper content in mined ore in the year to date offset a strike at the Andina division from August through September, boosting overall copper production in the first nine months of 2021...Read More
Reduced market liquidity between monthly negotiations and lower offers from China pressured imported flat-rolled steel prices lower in South America during the week ended Friday October 29.Most customers had already satisfied their December needs during the previous week and refrained from ordering more, according to market participants. They were also again weighing the risk that would result fro...Read More
The iron ore seaborne market supply might lose 40 million tonnes in 2022 compared with 2021, the ferrous director at Brazilian mining company Vale, Marcello Spinelli, said on Friday October 29.This reduction follows from a trend that began this year of important iron ore suppliers - including Brazil, India and the Commonwealth of Independent States - focusing more on their domestic marke...Read More
Import steel billet prices into China fell again toward the end of the week, hampered by continued power shortages and efforts by traders to re-route cargoes sold to that country.Chinese trading companies have tried to divert their position billet cargoes into Southeast Asian markets during the week, a behavior that started with panic over falling prices setting in the prior week. Most of these ca...Read More
The price of UK inter-merchant light-iron steel scrap narrowed on Friday October 29 with the domestic and export markets remaining strong, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?185-195 ($255-268) per tonne on Friday, narrowing from ?175-195 per tonne the week before."It's quite busy. There is a lot...Read More
Secondary alloy prices in the United States climbed again sharply on Thursday October 28, with strong demand, low supply and soaring raw material prices, especially for silicon, combining to drive transactions higher."Silicon is expensive and supply is tight," one producer said simply. "Alloy is very firm due to [the] spike in silicon prices and increasing manufacturing cost," a second...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
Steel beam prices were flat in the United States' domestic and import markets on Thursday October 28 following three rounds of mill price increases over the summer and bringing a welcome pause to upward pressure in market that has been tightly supplied.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US was $68 per hundredweight ($1,360 per short ton) on Thursday October 28, unc...Read More