The prices of hollow steel sections in Europe were unchanged this week, despite feedstock costs continuing to rise, market sources told Fastmarkets on Wednesday September 9.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($649-672) per tonne on Wednesday, as it was on September 2.The price of hot-rolled coil (HRC), the feedstock for se...Read More
The price of steel H-beams in Europe was unchanged this week, but producers were seeking further price increases, sources told Fastmarkets on Wednesday September 9.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($631-666) per tonne on Wednesday, unchanged week on week."Since July, prices have been moving up and have gained momentum against...Read More
After two months of sequential increases, ferrous scrap exports from the United States declined in July, with shipments falling by 12% overall from June levels on reduced deliveries to Canada and Turkey. US exports of ferrous scrap totaled 1.24 million tonnes in July, down from 1.41 million tonnes in June and 1.40 million tonnes in May, according to the latest figures from the US Census Bureau.Shi...Read More
Turkish steel mills have been busy in the deep-sea scrap market in recent weeks and booked four more cargoes totaling more than 150,000 tonnes on Wednesday September 9, sources told Fastmarkets.A steel mill in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $301 per tonne cfr, 12,000 tonnes of shredded at $306 per tonne and 8,000 tonnes of bonus at $311 per ton...Read More
Novolipietsk Steel (NLMK), the largest steel producer in Russia, has stopped iron ore concentrate output at its Stoilensky mining and processing plant due to an accident, which occurred on September 7, Fastmarkets understands.NLMK receives all its required iron ore concentrate from the asset, which is why both its pig iron and steel production are under threat, sources told Fastmarkets. "On Septem...Read More
Seaborne iron ore prices fell on Wednesday September 9 amid limited demand in the steelmaking hub of Tangshan, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $126.54 per tonne, down $2.58 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $126.83 per tonne, down $2.33 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $114.93 per tonne, down $0.26 per tonne....Read More
The seaborne premium hard coking coal cfr index skyrocketed on Wednesday September 9 following a transaction of premium mid-volatility hard coking coal done at $120 per tonne, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $111.65 per tonne, up $1.18 per tonne Premium hard coking coal, cfr Jingtang: $127.18 per tonne, up $11.58 per tonneHard coking coal, fob DBCT: $87.26 per t...Read More
Japanese export steel scrap prices jumped on Wednesday September 9 following a strong increase in the Kanto auction for the second month running, market sources told Fastmarkets.Japan's Kanto Tetsugen, a monthly auction between a cooperative of scrap dealers in the Tokyo region, closed at ?29,370 ($276) per tonne fas on Wednesday, up by ?2,154 per tonne from the previous month.August's auction p...Read More
Nickel premiums in China continued their ascent in the week to Tuesday September 8 after demand strengthened while premiums in the United States fell after demand weakened in the region, sources told Fastmarkets. China NPI, nickel sulfate prices rose anew amid robust demandUS nickel briquette premiums widened down with stainless demand feebleEuropean premiums held in an illiquid spot market, with...Read More
Hot-rolled coil buyers in Vietnam and Pakistan retreated from the market on Wednesday September 9 following continuous declines in Chinese prices, according to market participants.DomesticEastern China (Shanghai): 3,920-3,950 yuan ($573-578) yuan per tonne, down 60-70 yuan per tonneSellers in Shanghai were offering HRC at 3,950-3,960 yuan per tonne during the morning, but were forced to cut offers...Read More
Gains in London Metal Exchange three-month base metals prices were broadly capped during morning trading on Wednesday September 9 with futures prices failing to fully retrace gains after the previous day's plunge in US equities markets.Most notably, stocks in high-profile electric vehicle (EV) maker Tesla plummeted by a significant 21% on Tuesday, while shockwaves continue to be felt across global...Read More
United States-based electric vehicle maker Tesla's failure to be listed as an S&P 500 company led to a 20% share price fall on Tuesday September 8, that in turn led to a 4% fall in the Nasdaq index - markets are wondering whether this will be a catalyst for a broader reality check? Or just provide another dip-buying opportunity?Base metals prices on both the London Metal Exchange and Shanghai Futu...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 9.Key driversTighter titanium scrap availability persists, although is yet to manifest in pricing with current levels stable for ten consecutive weeks. Market sources expect the influence of tighter scrap availability - due to a fall in scrap generation in recent months while international economies slumped amid measures t...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 transparencyinto the markets it covers and the pricing process it applies....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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...Read More
China's State Reserve Bureau (SRB) is going to start stockpiling cobalt metal in the near future, market sources told Fastmarkets on Wednesday September 9.One producer source told Fastmarkets they had received a notice from the country's reserve authority late in the evening in China, informing them to collect a tender document the next day - Thursday September 10. It is still unknown, however, ho...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday September 9.Key drivers The continued rise in the futures market encouraged domestic suppliers to either raise offer prices again or hold back from offering before more gains ahead. The October indium contract on the Wuxi Stainless Steel Exchange, for example, closed at 1,410 yuan ($206.08) per kg on September 9, up by 13.3% from...Read More
The cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
The latest forecasts from Fastmarkets' team of base metals analysts are ready to view.Aluminium: SHFE tailwind for LME pricesAs we are entering the traditional strong demand season, we expect Chinese aluminium demand to show further recovery, and we expect demand from existing end-user sectors, new infrastructure projects and the export sector to show some increases. As a result, we believe that S...Read More