The latest forecasts from Fastmarkets' team of analysts is ready to view.Having found it easier to increase prices than their counterparts in Europe and the United States during the past few months, Asian stainless steelmakers now face a number of concerns.In the short term, Asian prices have moved down in recent weeks while those in Europe and the US are on the up. This is mostly a reflection of...Read More
London Metal Exchange three-month base metals prices continued to consolidate at the close on Tuesday October 6, with China's absence during the regional Golden Week holiday being felt, with the complex somewhat directionless as a result.LME futures prices, with the exception of aluminium and nickel, retraced previous gains in the afternoon trading session in anticipation of China's return to the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Although we correctly forecast a significant rise in hot-rolled coil (HRC) prices in the United States in September 2020, our price forecast proved too conservative.An impressive V-shaped recovery in key economic fundamentals critical to steel consumption is driving stronger demand for steel at the start of the fourth quarte...Read More
The partnership between Anheuser-Busch InBev (AB InBev) and Rio Tinto to create beer cans made from low-carbon aluminium is the inaugural step in a broad-based, long-term journey, executives at the two companies said.The venture will focus initially on the North American market and is a first for the canned beverage industry, according to Hudson Moore, global director, metal, at the global procure...Read More
Anheuser-Busch InBev (AB InBev), the world's largest brewer, has teamed up with mining company Rio Tinto in a partnership focused on creating beer cans made from responsibly produced aluminium. The two companies have signed a memorandum of understanding (MoU) committing to work with supply chain partners to bring AB InBev products to market in cans made from Rio Tinto's low-carbon aluminium. It me...Read More
The three-month nickel price on the LME was higher during morning trade on Tuesday October 6, despite thin turnover, while the fresh cancellation of nearly 70,000 tonnes of aluminium failed to push the light metal's price above nearby resistance. Nickel's outright price on the London Metal Exchange was recently seen at $14,690 per tonne, climbing more than 1% from Monday's closing price of $14,644...Read More
London-based Amalgamated Metal Trading (AMT), a category I ring-dealing member of the London Metal Exchange, has announced the opening of a new office in Singapore in an effort to develop its non-ferrous, ferrous and precious metals clientele in Southeast Asia and Australasia.The company made the announcement in a press release on Tuesday October 6.The move will see AMT's sister company, Amalgamat...Read More
Base metals prices on the London Metal Exchange were for the most part firmer this morning, Tuesday October 6, as were Asian-Pacific and pre-market major western equity index futures. US President Donald Trump's return to the White House boosts confidence.Markets have become more risk-on, although gold prices are holding up well too.Base metalsThree-month base metals prices on the LME were for the...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia showed few changes this week, with demand being soft, sources told Fastmarkets on Tuesday October 6.Most market participants preferred to wait for developments until China was back from its week-long national day holiday, because resumed demand in the East Asian nation will have an effect on the global steel industry.China will...Read More
The prices for steel rebar imported into the United Arab Emirates have decreased in the past week, with demand being only moderate and domestic prices static, market sources said on Tuesday October 6.Domestic rebarThe country's biggest producer, Emirates Steel, has been offering rebar since September 15 at 1,936 dirhams ($527) per tonne ex-works for orders to be produced in October, while Conares...Read More
Seaborne iron ore prices remained flat on Tuesday October 6 during the Chinese Golden Week holiday amid few offers in the market, however, the iron ore swaps prices gained further after an increase in steel billet prices, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $123.47 per tonne, unchanged62% Fe low-alumina fines, cfr Qingdao: $123.49 per tonne, unchanged58% Fe fines...Read More
Export prices for flat steel products from the Commonwealth of Independent States (CIS) softened again during the week to Monday October 5 because buyers remained inactive.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $470-495 per tonne on Monday, down by $15-25 per tonne from $495-510 per tonne a week earlier.Suppliers were heard to have reduced th...Read More
The Turkish steel producers have continued to hold back from the deep-sea scrap markets and to negotiate for lower prices, sources told Fastmarkets on Tuesday October 6.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap. ...Read More
Fastmarkets proposes to launch a weekly Pakistan import shredded steel scrap index to complement Fastmarkets' existing steel scrap prices in the South Asia region.Fastmarkets proposes to launch a new weekly price index for the Pakistan shredded steel scrap import market following feedback that such an index would be of value to market participants, both by itself and in conjunction with Fastmarket...Read More
Seaborne hard coking coal prices fob Australia dipped day on day on Tuesday October 6 in the run-up to the conclusion of a tender that some market participants say they expect will fetch lower prices.Fastmarkets indices Premium hard coking coal, fob DBCT: $137.46 per tonne, down $0.25 per tonne. Premium hard coking coal, cfr Jingtang: $145.10 per tonne, unchanged. Hard coking coal, fob DBCT: $113....Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Read More
The recovery in manganese alloys prices in Europe in the past week or two may have limited space to move higher in the near term due to depressed end-user steel demand in the automotive and construction sectors, according to trade sources and available industry data. Until the past week or two, manganese alloys prices in Europe had been trending downward since late April due to the effects that na...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Wednesday October 7, while equity markets were mixed.* US Federal Reserve chair Jerome Powel warned too little stimulus is worse than too much.* International Monetary Fund chief Kristalina Georgieva warns economic “calamity is far from over”.* US President Donald Trump postpones stimulus talks wit...Read More
Here are five Fastmarkets stories you might have missed on Monday October 5 that are worth another look.Tata Steel Europe has strongly denied reports that it will sell its UK-based asset to Chinese steel giant Jingye.After United States sanctions cut off supplies of microchips...Read More