Prices for seaborne iron ore concentrate and pellets fell further in the week ended Friday September 24 amid thin trading caused by weak demand attributed to a public holiday in China last week.Fastmarkets iron ore indicesPellet premium over 65% Fe fines, cfr China: $37.20 per tonne, up $3.50 per tonne66% Fe concentrate, cfr Qingdao: $125.70 per tonne, down $9.84 per tonne65% Fe blast furnace pell...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued to fall toward the end of September. Mills had to make significant concessions to conclude deals in major export outlets due to the continuous weakening of finished flat-steel prices there.Fastmarkets' price assessment for steel domestic plate 8-40mm, exw Southern Europe was ?,?880-900 ($1,031-1,055) per ton...Read More
Key data from Fastmarkets' pricing session in China on Friday September 24.Key drivers There are fears that spot availability will be even tighter during the dry season - which runs from the end of October/start of November through to May - when silicon producers...Read More
Spot zinc concentrate processing charges fell in the second half of September, with Chinese smelters stocking up for winter production and power curbs expected to limit smelting operations until early October.Fastmarkets assessed the zinc spot concentrate treatment charge, cif China at $75-88 per tonne on Friday September 24, narrowing downward by $4 from $75-92 per tonne two weeks prior. Prime br...Read More
Seaborne coking coal cfr prices decreased on Monday September 27 due to market participants' expectations of lower demand in the coming months.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $594.56 per tonne, down $6.26 per tonneHard coking coal, cfr Jingtang: $529.82 per tonne, down $45.41 per tonnePremium hard coking coal, fob DBCT: $406.07 per tonne, up $0.08 per tonneHard coking co...Read More
Seaborne iron ore prices increased on Monday September 27 because pre-holiday restocking activities at China's ports boosted market sentiment after price declines in the past two weeks.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.31 per tonne, up $7.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.10 per tonne, up $7.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $...Read More
Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.The 660,000-tonnes-per-year furnace was only restarted in June after nearly 14 months out of action during the Covid-19 pandemic.Usiminas did not provide any further details of the incident, but confirmed that, depending on the natu...Read More
European long steel makers who produce via electric-arc furnaces (EAF) have expressed growing concerns over rising energy costs, which could worsen ahead of higher demand in the winter, sources told Fastmarkets.One EAF mill source in Southern Europe said that on average, energy accounts for 15% of steel production costs."The latest energy price rises will add about ?,?40-50 ($46.8-58.6) per tonne...Read More
Seaborne iron ore prices increased on Monday September 27 because pre-holiday restocking activities at China's ports boosted market sentiment after price declines in the past two weeks.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.31 per tonne, up $7.98 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.10 per tonne, up $7.32 per tonne58% Fe fines high-grade premium, cfr Qingdao: $...Read More
European long steel makers who produce via electric-arc furnaces (EAF) have expressed growing concerns over rising energy costs, which could worsen ahead of higher demand in the winter, sources told Fastmarkets.One EAF mill source in Southern Europe said that on average, energy accounts for 15% of steel production costs."The latest energy price rises will add about ?,?40-50 ($46.8-58.6) per tonne...Read More
Here are five Fastmarkets stories you might have missed on Monday September 27 that are worth another look.Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.For aluminium market participants...Read More
Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.The 660,000-tonnes-per-year furnace was only restarted in June after nearly 14 months out of action during the Covid-19 pandemic.Usiminas did not provide any further details of the incident, but confirmed that, depending on the natu...Read More
Brazil's Usiminas is halting its No2 blast furnace at Ipatinga for another 90-150 days after an incident on Friday, the flat steel producer said on Monday September 27.The 660,000-tonnes-per-year furnace was only restarted in June after nearly 14 months out of action during the Covid-19 pandemic.Usiminas did not provide any further details of the incident, but confirmed that, depending on the natu...Read More
China's domestic hot-rolled coil prices rebounded on Monday September 27, with futures charting a recovery amid news that tight electricity supply in China as well as local governments' rush to meet energy consumption targets were affecting steel production rates.DomesticEastern China (Shanghai): 5,700-5,750 yuan ($882-890) per tonne, up by 20-30 yuan per tonneThe most-traded HRC contract on the S...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 37 points in pre-opening trade. Federal Reserve Chairman Powell and Treasury Secretary Yellen are scheduled to give testimony before the Senate Banking Committee this morning. Agnico-Eagle and Kirkland Lake Gold have agreed to share exchange as a "merger of equals". Each Kirkland Lake Gold shares are to be exchanged f...Read More
Export rebar and wire rod prices from the Commonwealth of Independent States continued to slide at the end of September amid a lack of trading and competition with Turkish suppliers, sources told Fastmarkets.Rebar offers, which were coming mainly from Ukraine, were varying within the range of $690-710 per tonne fob Black Sea in the week to Monday September 27, against $710-720 per tonne fob a week...Read More
Base metals prices were mainly lower across both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday September 28, the exception was LME copper.* Oil prices extend gains; spot Brent crude approaching $80 per barrel.* US 10-year treasuries yields push through 1.5%.Base metalsThe three-month copper price on the LME was up by 0.3% at $9,376.50 per tonne and seemed buoyant this morn...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region continued to fall toward the end of September. Mills had to make significant concessions to conclude deals in major export outlets due to the continuous weakening of finished flat-steel prices there.Fastmarkets' price assessment for steel domestic plate 8-40mm, exw Southern Europe was ?,?880-900 ($1,031-1,055) per ton...Read More
For aluminium market participants globally, the global energy shortage is one of the many shortages producers of the light metal are facing.Market participants say the energy crunch, caused by a lack of incentive to produce additional supply when energy prices hit lows in 2020, will particularly be felt by producers who have large exposures to the spot energy markets, although many say that most s...Read More
Base metals prices were mainly lower on the London Metal Exchange and mixed on the Shanghai Futures Exchange on Monday September 27, while the broader markets looked more positive.Higher oil prices are adding to inflationary concerns......US 10-year treasuries yields rise to levels not seen since JulyBase metalsThree-month base metals prices on the LME were mainly weaker this morning, with the exc...Read More