If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
After a one-month consultation period, Fastmarkets will amend the timing specifications for its assessment of the China import steel billet price from Tuesday September 28.The frequency of the assessments, which are currently weekly, will move to a twice-weekly basis after the next assessment date on Friday September 24.The change would have been due to take place on Tuesday September 21, as per t...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Fastmarkets analysts were invited to present our outlook for the coking coal market at Coaltrans Asia, held online on November 23-25. One of the key topics at the event was the trade tensions between China and Australia, which overtook Mongolia to become the largest coking coal exporter to China this year...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday September 21 with uncertainty related to Chinese construction company Evergrande continuing to cast a shadow over the market."This week's sell-off was triggered by a sharp negative turn in global risk sentiment, with the world keeping a close eye on the collapse of Chinese property developer Evergrande and trader...Read More
Teck Resources has trimmed its 2021 production guidance figures for refined zinc and concentrate and said that its copper concentrate shipment timing had been affected by wildfires and logistics disruptions in its home region of British Columbia, Canada.The company now expects its Trail operations to produce 285,000-290,000 tonnes of refined zinc in 2021, down from 290,000-300,000 tonnes previousl...Read More
Seaborne iron ore prices were largely flat on Tuesday September 21 with limited trading activity in the physical market taking place amid a Chinese holiday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.03 per tonne, up $0.05 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.96 per tonne, down $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.87 per tonne, up $0.14 p...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 21 and their latest price moves.China The imported charge chrome market rose strongly on supply tightness in China, due to falling domestic production following electricity restrictions. The UG2 chrome ore market stayed stable, with cost support holding prices in balance against falling consu...Read More
Manganese semi-carbonate prices have risen in the past week on renewed liquidity, although inventories continued to weigh heavily on the market, limiting any potential gains.Fastmarkets' latest calculation of the manganese ore index, 37% Mn, cif Tianjin, was $4.56 per dry metric tonne unit (dmtu) on Friday September 17, up by 8 cents per dmtu (1.79%) from $4.48 per dmtu the previous week.Fresh liq...Read More
Seaborne coking coal prices in the fob market on Tuesday September 21 continued to climb from the previous day amid firm demand, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $565.77 per tonne, unchangedHard coking coal, cfr Jingtang: $491.97 per tonne, unchangedPremium hard coking coal, fob DBCT: $399.29 per tonne, up by $13.18 per tonne ...Read More
Base metals prices on the London Metal Exchange were down across the board on Tuesday September 21 with uncertainty related to Chinese construction company Evergrande continuing to cast a shadow over the market."This week's sell-off was triggered by a sharp negative turn in global risk sentiment, with the world keeping a close eye on the collapse of Chinese property developer Evergrande and trader...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
Seaborne iron ore prices were largely flat on Tuesday September 21 with limited trading activity in the physical market taking place amid a Chinese holiday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.03 per tonne, up $0.05 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.96 per tonne, down $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.87 per tonne, up $0.14 p...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
Activity in the Asian import markets for steel billet has been stifled over the past few days amid continued weak demand in the Philippines market and China's Mid-Autumn Festival holiday, sources told Fastmarkets on Tuesday September 21.Offers from traders for 125mm 5sp-grade billet, made of steel from electric-arc furnaces (EAFs) and originating from Russia's Far East province, were heard at $700...Read More
Mexican ferrous scrap prices posted widespread declines in the week ended on Friday September 17 despite steady demand in the country.Almost all scrap buyers reduced their prices during the week, with most reductions ranging from 300-500 pesos ($15-25) per tonne, market participants said.The movement was believed to be a lagged response to lower ferrous scrap prices in the United States due t...Read More
Indonesian state-owned steelmaker Krakatau Steel is aiming to increase the capacity of its new No2 hot strip mill to 4 million tonnes per year from 1.5 million tpy currently, it said on Tuesday September 21 at the mill's inauguration ceremony.The No2 hot strip mill is aimed at supplying the automotive industry with substrate for the production of electric cars, reducing steel imports.It expects it...Read More
The Malaysia Smelting Corporation, one of the largest tin producers in the world, is currently operating its main smelter with 80% of its staff present, one company representative confirmed to Fastmarkets on September 21. MSC declared force majeure in early June after the third wave of Covid-19 cases began to rapidly affect the country. The spokesperson for the company noted that the force ma...Read More
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
Mexican ferrous scrap prices posted widespread declines in the week ended on Friday September 17 despite steady demand in the country.Almost all scrap buyers reduced their prices during the week, with most reductions ranging from 300-500 pesos ($15-25) per tonne, market participants said.The movement was believed to be a lagged response to lower ferrous scrap prices in the United States due t...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More