Base metals prices on the London Metal Exchange were down across the board at the 5pm close of trading on Tuesday October 26.The three-month aluminium price lost more ground, closing 1.6% lower, at $2,829 per tonne.Aluminium was the most-traded metal on LMESelect throughout the day, with 23,151 lots traded by 5:30pm, compared with just 9,243 lots of copper."In line with our expectations, discussed...Read More
Hot-rolled coil prices in the United States rebounded on Tuesday October 26, with buyers still finding mills unwilling to budge on higher price levels despite reports of softness.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.43 per hundredweight ($1,908.60 per ton) on Tuesday October 26, up by 2.12% from $93.45 per cwt on Monday October 25 but down by 0.50% from...Read More
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...Read More
Sales volumes from Brazilian flat-rolled steel distributors decreased by 27.69% in September, compared with the corresponding month last year, national distributor association Inda said on Tuesday October 26.There was a much stronger base of comparison this year compared with 2020, when the market was rapidly recovering from lows caused by the Covid-19 pandemic.Sales totaled 291,500 tonnes in Sept...Read More
Seaborne iron ore prices rose on Tuesday October 26 amid some short-term positivity in demand for iron ore, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $122.30 per tonne, up $3.22 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.11 per tonne, up $3.63 per tonne58% Fe fines high-grade premium, cfr Qingdao: $94.41 per tonne, up $3.44 per tonne65% Fe Brazil-ori...Read More
China's imports of billet and slab increased in September from a month earlier but volumes were down year on year, according to the latest customs data.Billet imports totaled 1.13 million tonnes in September, up by 33% from 847,126 tonnes in August but down by 18% from September 2020.Fastmarkets' price assessment for steel billet, import, cfr China averaged $700 per tonne in July and $686 per tonn...Read More
Silicon prices in the United States continued to rise, chasing earlier increases in other regions. The US price hit an all-time high for the fifth week in a row, although prices in Europe and China were flat to down in the week to Friday October 22.The US price moved sharply during the assessment week, with range widening to a $1.25-per-lb spread and a high end hit $5 per lb for a commodity that w...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 26 that are worth another look.A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau...Read More
Chinese nickel products producer Lygend Mining has started trialing its second autoclave for mixed hydroxide precipitate (MHP) at its Halmahera Persada Lygend (HPAL) project in Indonesia, it said on Sunday October 24. The move is part of the project's first phase of operations, which has a target capacity of 36,000 tonnes of MHP. The first autoclave has been in production since May.A second phase,...Read More
Flat steel import prices into the United Arab Emirates and Saudi Arabia decreased or were unchanged during the week ended Tuesday October 26, with only one deal heard, sources told Fastmarkets.Offer prices decreased from India during the week, and Saudi Arabia also offered hot-rolled coil at reduced prices to the UAE."Everyone is in wait-and-see mode," one trader said. "With the Chinese futures ma...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...Read More
International cobalt spot metal prices have trended upward since the beginning of September, with sellers keeping the material in tight hands and offering aggressively, sources said. Meanwhile, the "mating season" is in full swing and talks about long-term contract renewals are ongoing amid an improved demand outlook for the coming year.Fastmarkets' benchmark price assessment for cobalt standard g...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
A decision by the European Union on the future of the bloc's scrap metal export trade, which is worth billions of euros per year, could come as early as December this year, the Bureau of International Recycling (BIR) conference in Brussels heard on Tuesday October 26.The recycling industry is facing tremendous challenges, panelists said. The EU has proposed restrictions on the export of "waste" ma...Read More
Mexican ferrous scrap prices declined again over the past week, with lower prices becoming more widespread among buyers in the country's two main markets, sources told Fastmarkets.But market participants believe prices are close to reaching a bottom, with some buyers having difficulty securing deals at lower prices."We continued to see low prices, but it seems that prices are reaching a minim...Read More
Base metals prices on the London Metal Exchange were down across the board at the 5pm close of trading on Tuesday October 26.The three-month aluminium price lost more ground, closing 1.6% lower, at $2,829 per tonne.Aluminium was the most-traded metal on LMESelect throughout the day, with 23,151 lots traded by 5:30pm, compared with just 9,243 lots of copper."In line with our expectations, discussed...Read More
Uncertainty about steel product prices in the United Arab Emirates continued even after the country's biggest producer, Emirates Steel, announced a new rebar price on October 24, sources told Fastmarkets on Tuesday October 26.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne ex-works since October 24, rising from the previous 2,406 dirhams per tonne ex-works.But the price in...Read More
Mexican ferrous scrap prices declined again over the past week, with lower prices becoming more widespread among buyers in the country's two main markets, sources told Fastmarkets.But market participants believe prices are close to reaching a bottom, with some buyers having difficulty securing deals at lower prices."We continued to see low prices, but it seems that prices are reaching a minim...Read More
China imported 20,519 tonnes of ferrous scrap in September, a 49.39% drop compared with August's 40,540 tonnes, according to the latest Chinese customs data.Of the total, 11,750 tonnes, or 57.27%, originated in Japan.South Korea remained China's second-largest scrap supplier in September, accounting for 2,170 tonnes (10.58%) of imports.Canada with 1,621 tonnes, or 7.90% of the total, and Taiwan wi...Read More
U.S. equity index futures were mixed this morning. S&P 500 Index were unchanged in pre-opening trade.The Canadian Dollar was quiet at US80.62 cents prior to an economic update to be released by the Bank of Canada at 10:00 AM EDT. A conference call following the update is scheduled at 11:00 AM EDT. Consensus calls for no change in the Bank of Canada's overnight lending rate to major Canadian ba...Read More