The three-month nickel and tin prices on the London Metal Exchange were the standout performers at the close of trading on Wednesday August 26, with an 11.2% uptick in US durable goods orders supporting the base-metals complex.Meanwhile, steady buying in LME copper futures saw the metal's outright price approach key resistance at $6,600 per tonne.Nickel's underlying price on the LME closed at $15,...Read More
The seaborne premium hard coking coal fob index continued yesterday's uptrend, with a transaction of premium hard coking coal concluded on Wednesday August 26 while in the cfr market, seaborne prices remained flat due to low liquidity, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.91 per tonne, up $1.50 per tonne Premium hard coking coal, cfr Jingtang: $114.77 per tonne,...Read More
The LME three-month nickel price hit a year-to-date high in the morning session on Wednesday August 26, up 1% from the previous day's close, and at its highest level since November 2019, at $15,140 per tonne. London Metal Exchange nickel futures were supported by the fresh cancelation of 444 tonnes as of 9am this morning. A 378-tonne outflow of material - 354 tonnes from D...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.August 2020 has seen the prices of most steel products move up in tandem around the world, in contrast to recent months when steel prices have moved in different directions depending on the market.This dynamic has been seen in most coated steel markets as well, with the prices for hot-dipped galvanized coil (HDG), pre-painted...Read More
The three-month nickel and tin prices on the London Metal Exchange were the standout performers at the close of trading on Wednesday August 26, with an 11.2% uptick in US durable goods orders supporting the base-metals complex.Meanwhile, steady buying in LME copper futures saw the metal's outright price approach key resistance at $6,600 per tonne.Nickel's underlying price on the LME closed at $15,...Read More
UK secondary aluminium prices continued to rise on Wednesday August 26, with a regional supply squeeze pushing LM24 ingot prices above the levels seen before the Covid-19 pandemic began.The UK secondary aluminium market has suffered considerably as a result of Covid-19 and its associated industrial lockdown.All related UK industry effectively ground to a halt in March when carmakers, the main cons...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 26.Please click...Read More
The spot copper market was quiet for Shanghai due to the closed arbitrage window and backwardation costs remaining in place in the week to Tuesday August 25, while a dramatic African copper theft dealt a blow to consumer confidence in EQ cathodes. The London Metal Exchange copper cash/three-month spread stood at a $17.25 per tonne backwardation in the morning of Wednesday August 26. Cif Shang...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More
A summary of Alumina Ltd's half-year results for the six month ended June 30, 2020. The results also include half-year results for Alcoa World Alumina & Chemicals (AWAC), 40%-owned by Alumina Ltd and 60% owned by Alcoa. In brief Alumina Ltd reported a statutory net profit after tax of $90.5 million for the six months to June 30, 2020, down from $210.9 million in the first half of 2019. Exclu...Read More
Hot-rolled coil prices in the United States have remained close to the $24.50-per-hundredweight ($490-per-short-ton) level, while domestic mills have announced a fresh round of price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.41 per cwt ($488.20 per ton) on Wednesday August 26, down by 0.7% from $24.58 per cwt on Tuesday August 25 but up by 2.3...Read More
Domestic prices for hot-rolled coil moved up across the EU over the week to Wednesday August 26 supported by some improvement in demand, a lack of competitive imports, reduced output and high raw materials costs, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?447.87 ($529.34) per tonne on Wednesday, up by ?,?5.04 pe...Read More
The price of hollow steel sections in Northern Europe has inched upward following a jump in feedstock costs, with the market slowly returning to work after the summer holiday period, sources told Fastmarkets on Wednesday August 26.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-565 ($638-668) per tonne on Wednesday, up from ?,?540-560 per...Read More
Brazilian flat steel producer Usiminas has restarted its No1 blast furnace (BF) in Ipatinga city, in the country's southeastern Minas Gerais state, it said on Wednesday August 26. Usiminas has resumed activities at the blast furnace and its No1 steelworks at the mill, both halted in April because of the impact of the Covid-19 pandemic on the Brazilian economy. "The rebound of the Brazilian economy...Read More
Steel mesh-quality wire rod prices went up over the past week on good demand, while bullish suppliers seem intent on further price increase in September citing higher feedstock costs and demand growth, Fastmarkets heard on August 26.Southern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?440-450 ($519-531) per...Read More
The price of steel H-beams in Europe inched up on Wednesday August 26 with producers pushing ahead with previously announced increases, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($632-668) per tonne on Wednesday, up from ?,?530-560 per tonne one week before.Market participants have slowly started to return to wor...Read More
The Turkish steel producers have continued their deep-sea scrap purchases for late September and October shipments, with prices becoming firmer, sources said on Wednesday August 26.After booking three deep-sea cargoes earlier this week, three more transactions were heard on Wednesday.A steel mill in the Izmir region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 15,000 tonne...Read More
Seaborne iron ore prices rose on Wednesday August 26 amid strong interest from steelmakers for high- and low-grade iron ore fines, trader sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.20 per tonne, up $1.22 per tonne 62% Fe low-alumina fines, cfr Qingdao: $123.65 per tonne, up $2.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.97 per tonne, u...Read More
The seaborne premium hard coking coal fob index continued yesterday's uptrend, with a transaction of premium hard coking coal concluded on Wednesday August 26 while in the cfr market, seaborne prices remained flat due to low liquidity, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.91 per tonne, up $1.50 per tonne Premium hard coking coal, cfr Jingtang: $114.77 per tonne,...Read More