LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More
Most prices for flat-rolled steel products imported into South America were down during the week ended Friday October 15, with Brazilian mills lowering their offers, Russian sellers pressuring the market downward and Chinese material still scarce in the region.While some offers from China emerged at higher levels, following a week-long holiday in the Asian country, reduced export availability to S...Read More
The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board. Zinc reached its highest prices in over a decade while tin climbed to new all-time highs. Copper's benchmark cash/three-month spread on LMESelect - the Exchange's electronic platform - touched a $350-per-tonne b...Read More
The major car-manufacturing countries in Europe recorded double-digit percentage drops in sales volumes in September 2021 due to the continuing global semiconductor shortage, the European Automotive Manufacturers Association (ACEA) said on Friday October 15.EU passenger car registrations decreased by 23.07% year-on-year to 718,598 units in September, the lowest number of registrations for a Septem...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
Prices in the United States' pig iron import market went up during the week to Friday October 15 amid an improved global market mood, sources told Fastmarkets. Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $545-550 per tonne on Friday, up from $540 per tonne a week earlier.Offers of Russia-origin...Read More
Prices for shredded steel scrap imported into Pakistan and India increased further on Friday October 15, with trading reported throughout the week, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $546.22 per tonne on Friday October 15, up from 535.07 per tonne one week prior.Deals were heard at $535 per tonne, $54...Read More
Record-high coking coal prices have been pressuring steelmakers in the Commonwealth of Independent States (CIS), mainly in Ukraine, because of a dependence on imports, sources told Fastmarkets.Global coking coal prices have been trending upward since October 2020, when the Chinese government imposed a ban on Australian materials.Fastmarkets' index for premium hard coking coal, cfr Jingtang -...Read More
An oversupply of emissions trading credits in China by more than 1.5 billion tonnes of carbon dioxide will likely cap carbon prices in the country, TransitionZero carbon analyst Matt Gray told Fastmarkets in an interview.China kicked off an emissions trading scheme (ETS) on July 16, with the first phase of its carbon experiment centered on thermal coal-fired power plants. Other heavy industries su...Read More
The three-month zinc price on the London Metal Exchange reached a 14-year high of $3,750 per tonne on Friday October 15, with prices and premiums spiking amid concerns over supply in Europe and the United States.Friday's price represents its highest level since 2007 and a 16.4% increase from the start of the week, with the contract closing at $3,222 per tonne on Monday. "The threat of further prod...Read More
Seaborne coking coal prices stayed largely stable in the cfr China market but decreased in the fob market on Friday October 15, amid weak offers and bids.Prices for seaborne pulverized coal injection (PCI) increased in both the cfr China and fob Australia market in the week to October 15 due to supply tightness in both markets, market sources said on Friday.Fastmarkets indicesPremium hard coking c...Read More
Record-high coking coal prices have been pressuring steelmakers in the Commonwealth of Independent States (CIS), mainly in Ukraine, because of a dependence on imports, sources told Fastmarkets.Global coking coal prices have been trending upward since October 2020, when the Chinese government imposed a ban on Australian materials.Fastmarkets' index for premium hard coking coal, cfr Jingtang -...Read More
Less stringent restrictions on power supply in some areas of China have led to a boost in steel production levels and ferrous scrap demand at some mills in recent days, sources told Fastmarkets on Friday October 15.?EUR?Less strict power rationing helps support China scrap prices?EUR?Import prices in China inch up amid higher bids from buyers?EUR?South Korea buys high-grade Japanese scrap.ChinaThe...Read More
Japanese steelmaker Nippon Steel is suing compatriot automaker Toyota and Chinese mill Baosteel on claims that the two had infringed on its patent for non-oriented electrical steel sheet. In its suit filed at the Tokyo district court on Thursday October 14, Nippon Steel is also seeking an injunction to prohibit Toyota from manufacturing and selling motor-driven vehicles equipped with motors using...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 15.Jessica Long, Zihao Li and Ruby...Read More
The export pig iron market from the Commonwealth of Independent States improved in the week to Thursday October 14, with new sales to Italy and a bullish mood among suppliers.Fastmarkets' price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $500-520 per tonne on Thursday, up by $10 from $490-510 per tonne the previous week.Several sales of Ukraine-origin pig iron...Read More
Poland's steel rebar market remained flat in the week to October 15, but sources expect producers to seek higher prices due to high energy costs, sources told Fastmarkets on Friday.Rebar offers from local mills were at 3,600-3,700 zloty ($913-938) per tonne ex-works, but some had already finished October sales and are yet to return with November offers."ArcelorMittal is expected to announce new pr...Read More
Japanese steelmaker Nippon Steel is suing compatriot automaker Toyota and Chinese mill Baosteel on claims that the two had infringed on its patent for non-oriented electrical steel sheet. In its suit filed at the Tokyo district court on Thursday October 14, Nippon Steel is also seeking an injunction to prohibit Toyota from manufacturing and selling motor-driven vehicles equipped with motors using...Read More
The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board. Zinc reached its highest prices in over a decade while tin climbed to new all-time highs. Copper's benchmark cash/three-month spread on LMESelect - the Exchange's electronic platform - touched a $350-per-tonne b...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More