The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
Steel rebar and billet buyers in the United Arab Emirates were waiting for new local rebar prices to be announced in the week ended Tuesday October 19; they expect a price increase of around $30 per tonne, sources told Fastmarkets.Rebar producers normally announce new prices fortnightly in the UAE, but they have not made any changes since September 29.Domestic rebarRebar producers in the UAE sold...Read More
Novelis will invest approximately $130 million to upgrade its operations in Oswego, New York, the global aluminum rolling and recycling firm said in a press release on October 18.The project will increase hot mill capacity by 124,000 tonnes at the plant, which serves the can, automotive and specialty products markets, Atlanta-based Novelis said. The investment, which will be between spring 2022 an...Read More
From supply chain disruptions to London Metal Exchange spreads, aluminium market participants discussed a wide variety of topics during LME Week, and what they could mean for the market in the months ahead.Fastmarkets breaks down the winners and losers across the various topics discussed during the week of October 11-15.Embedded supply chains - winnersWhile costs along the supply chain continue to...Read More
Base metals on the London Metal Exchange closed lower day on day on Tuesday October 19 after a strong open.The LME zinc three-month price led the decline among the base metals, closing at $3,508 per tonne - down more than 5% from $3,696 per tonne at the open."Even though we believe the LME zinc price can remain elevated...Read More
The Russian government has removed or reduced existing export duties on ferro-alloys, effective October 15, after responding to domestic industry concerns, trade sources said.Russia implemented its latest export tax changes on Friday October 15, a move which included scrapping the export taxon ferro-alloys such as ferro-titanium and ferro-tungsten.On Monday, Russia's Ministry of Economic Developme...Read More
Digitalization can provide the metals trading industry with several benefits, including access to buyers' and suppliers' networks, panellists said at an LME Week seminar in London on October 11.The primary driver for adopting digital platforms so far has been that it offers a new route to the market and growth in customer base, said John Eastwood, head of stainless-steel raw materials sales at Ang...Read More
Expectations of further volatility in the steel markets for the remainder of 2021 were influencing buying habits among some importers of steel billet in Asia, sources told Fastmarkets on Tuesday October 19.China's absence from buying on the import steel billet market continued on Tuesday, with consumers able to pay a maximum of $700-710 per tonne cfr for 3sp billet. But prices in Southeast Asia ha...Read More
Prices for flat steel imports into the United Arab Emirates and Saudi Arabia continued to increase during the week ended Tuesday October 19, but demand was not strong in either country, sources have told Fastmarkets.Energy costs have been increasing in most markets, with steel mills adding these costs to their prices.Although sources said that demand in the two Middle Eastern countries was not ver...Read More
Exporters of billet from the Commonwealth of Independent States aggressively increased offers on October 19, although no sales were heard at the higher levels.Fastmarkets' calculation of its daily steel billet index export, fob Black Sea, CIS was $650 per tonne on October 19, up by $1 per tonne...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy moved downward on Tuesday October 19 on increased supply to the spot market resulting from lower consumption by the automotive sector, sources told Fastmarkets.As a result, buyers have been cautious in their purchasing because they believed that cheaper prices would be available soon.Auto-industry output - and, consequently, steel de...Read More
Trading liquidity for Chinese steel cold-rolled coil and hot-dipped galvanized coil remained quiet in the week ended October 19 after growing fears of export policy changes ahead of the end of the year dented buying interest for Chinese material.Changes in export prices for Chinese CRC and HDG were moderate compared with the previous week, with domestic prices continuing to fluctuate amid supply r...Read More
Export prices for flat steel product from the Commonwealth of Independent States rose during the week ended Monday October 18 on a stronger local market in Turkey - the key destination for flat steel exports from Russia and Ukraine.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $820-840 per tonne on Monday, up by $20 per tonne from $800-820 per...Read More
There were no deep-sea bookings by Turkish steel mills on Tuesday October 19, but sources expect mills to book more cargoes for December amid strong demand for billet and rebar, market participants told Fastmarkets.The most recent deep-sea trade was recorded on Monday October 18, when a steel mill in the Iskenderun region booked a Baltic Sea cargo consisting of 6,500 tonnes HMS 1&2 (95:5) at $512...Read More
Seaborne coking coal prices were relatively stable on Tuesday October 19, with no trading activity heard. And the seaborne premium fob price will likely remain steady for the rest of the year, several sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $612.12 per tonne, down by $0.44 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, unchangedPremium hard coking coal,...Read More
German steelmakers have settled their monthly steel scrap contracts for October at fairly stable prices, sources told Fastmarkets on Tuesday October 19.Deals settled at the beginning of the month were at stable prices or, in some cases, slightly lower. By the middle of October, however, after international scrap prices rebounded, German suppliers refused to accept lower prices. This meant that mil...Read More
Seaborne iron ore prices inched lower on Tuesday October 19 because market participants adopted a weak outlook for iron ore demand after more news of steel production cuts in south China's Jiangsu province and iron ore logistics disruptions in north China's Tangshan, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.04 per tonne, down $0.28 per tonne62% Fe low-alumina...Read More
Tokyo Steel has increased its domestic scrap purchase prices for the fourth time in October, keeping Japan's export offers for steel scrap well supported, sources told Fastmarkets on Tuesday October 19.?EUR?Tokyo Steel raises scrap buy prices?EUR?Japanese material unaffordable to buyers in China?EUR?Taiwanese buyers bid higherJapanTokyo Steel, Japan's largest operator of electric-arc furnaces, ann...Read More
What do Toyota's automotive plant shutdowns have to do with steel scrap prices?A lot, apparently.Japan's largest automaker's on-off production schedule has been a major driving force behind some of the sharp price rises for Japanese scrap in both the domestic and seaborne markets, especially for the prime-grade material.In Japan, such scrap is referred to as Shindachi, which comprises Shindachi Ba...Read More