The latest forecasts from Fastmarkets' team of analysts are ready to view. A look at stainless steel price movements through August reveals the ongoing battle being faced by stainless steelmakers in Europe and the United States while they try to pass on rising costs to consumers. In these regions, prices on most grades of stainless steel are little changed from July, rising by around 2% at most -...Read More
China's domestic stainless steel prices have risen for a tenth week amid a strengthening nickel market and good downstream demand.The three-month nickel contract on the London Metal Exchange ended Wednesday September 2's official trading session at $15,671 per tonne, up by $594 per tonne (3.9%) from $15,077 per tonne a week earlier.Fastmarkets' weekly price assessment for nickel pig iron, high-gra...Read More
London Metal Exchange base metals prices were firmer this morning, Friday September 4, but this appears to be early bargain-hunting/consolidation after Thursday’s 1.5% average decline. Asian equities and base metals prices were weaker while they followed yesterday’s weakness in western markets.We wait to see if this weakness was the result of some book squaring ahead of the much-watched...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 4 points in pre-opening trade.Index futures recovered slightly following release of the U.S. August Employment Report at 8:30 AM EDT. Consensus for August Non-farm Payrolls was 1.400 million versus revised 1.743 million in July. Actual was 1.371 million. Consensus for August Unemployment Rate was 9.8% versus 10.2% in...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 2 that are worth another look.The premium for direct-reduced (DR) iron ore pellet for the third quarter of 2020 fell by 12.9% due to lower demand in the period, and market participants said the premium could fall...Read More
The three-month price of aluminium on the London Metal Exchange failed to breach nearby resistance at the close of trading on Wednesday September 2, despite reaching its highest price since January in the afternoon session, while a sharp decline in lead futures saw the metal lose 1.8% of its underlying price.Aluminium's outright price on the LME closed at $1,786 per tonne, a decline of more than 1...Read More
The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28,...Read More
Prices for high-carbon and low-carbon ferro-chrome delivered in Europe have inched upward over the week ended Tuesday September 1, with participants returning to the market after the summer holiday break.Fastmarkets' weekly assessment of the price for ferro-chrome, high carbon, 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, rose by $0.01 per lb Cr or 1.1% to $0.81-0.95 per lb Cr on Tues...Read More
An overview of the noble alloys markets and the reasons for any price movesRead More
The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28,...Read More
The Turkish steel producers have resumed their deep-sea scrap purchases for September shipments at higher prices, market sources told Fastmarkets on Wednesday September 2.After booking six deep-sea cargoes totaling around 220,000 tonnes last week, the mills in Turkey stopped their scrap purchases on August 26.But two steel mills came to the market and paid higher prices for fresh deep-sea cargoes...Read More
The spread between copper scrap and refined copper continued to widen in August amid the copper price rally and minimal buying interest from the Chinese due to logistics and customs clearance worries in the coming months.Fastmarkets assessed the price of copper scrap No 2 copper (birch/cliff) imported into China 94-96% LME/Comex discount, cif China basis at 32-36 cents per lb on Friday August 28,...Read More
Prices for cargoes of H2-grade heavy scrap exported from Japan hit a ceiling over the past week amid static levels of demand from South Korea and Taiwan, sources told Fastmarkets on Wednesday September 2.Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan, was ?27,500-28,500 ($260-269) per tonne on Wednesday, unchanged week on week. But it followed two weeks of consecuti...Read More
Markets were mixed this morning, Wednesday September 2, with base metals prices on the London Metal Exchange little changed, the dollar was firmer and Asian-Pacific equities, as well as pre-market major western equity index futures, were stronger too. The main supporting factor seems to be Tuesday's manufacturing purchasing managers' index (PMI) data that for the most part showed robust recoveries...Read More
Domestic prices for hot-rolled coil continued to rise in all parts of Europe over the week to Wednesday September 2, and were expected to increase further, market sources have told Fastmarkets.The upswing in domestic prices had support from a combination of a degree of seasonal demand improvement, reduced output from domestic mills resulting in longer lead times, a lack of competitive import offer...Read More
Turkey exported 511,188 tonnes of flat steel products in July 2020, according to the Turkish Statistical Institute (TUIK), up by 10.36% year-on-year from 463,220 tonnes exported in July 2019.The main reason for the increase was the rise in tonnages of cold-rolled coil and coated coil exports in July.Turkey made several export deals for hot-dipped galvanized coil in May and June, which were deliver...Read More
Turkey imported 659,179 tonnes of flat steel in July 2020, up by 8.24% from 608,982 tonnes in July 2019, Turkish Statistical Institute (TUIK) said this week.The reason for the increase in imports was strong buying in May, when orders to be delivered in June were placed, Fastmarkets understands.Demand for flat steel is currently moderate in Turkey but prices have been increasing in line with rising...Read More
The price of hollow steel sections in the Northern European domestic market went up this week because of the current price surge in raw materials, market sources told Fastmarkets on Wednesday September 2.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?550-570 ($658-681) per tonne on Wednesday, up from ?,?540-565 per tonne one week earlier.The...Read More
The price of steel H-beams in the European domestic market has been largely stable over the past week following modest increases in the previous seven days, with further gains depending on demand in the weeks ahead, sources told Fastmarkets on Wednesday September 2.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($640-675) per tonne on Wedn...Read More
Producers of steel mesh quality wire rod in the south of Europe push for higher prices on increased feedstock costs and a demand recovery, while in the north prices were flat after an increase last week, source told Fastmarkets on Wednesday September 2. Southern Europe Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?4...Read More