A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 22.Please click...Read More
Domestic prices for hot-rolled coil continued to decline across Europe on Wednesday September 22, mainly due to weak demand from the automotive sector and spot buyers holding sufficient stocks, sources told Fastmarkets.The reduced consumption by car manufacturers was a result of the global shortage of semiconductor chips for onboard electronics, with some volumes of flat steel being redirected to...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 22, with feedstock costs continuing to fall ahead of the renewal of European import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe, was ?,?1,350-1,400 ($1,583-1,642) per tonne on Wednesday September 22, down from ?,?1,400-1,430 per...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Brazilian iron ore and base metals producer Vale will have a new chief financial officer from November 1, because current CFO Luciano Siani Pires has been nominated to become the company's vice president of strategy and business transformation, it said on Tuesday September 21.Siani has held the role of CFO for nine years. His replacement will be Gustavo Pimenta, currently CFO at United States-base...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Seaborne iron ore prices rose sharply on Wednesday September 22 amid firmer prices traded on front-month swaps and on Chinese futures, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $108.70 per tonne, up $15.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $110.65 per tonne, up $16.69 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.25 per tonne, up $11.38 per tonn...Read More
Limited choice as China resumed business on Wednesday September 22, led to Fastmarkets' index for premium hard coking coal, cfr Jingtang reaching a record high of $600.82 per tonne, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.82 per tonne, up $35.05 per tonneHard coking coal, cfr Jingtang: $555.05 per tonne, up $63.08 per tonnePremium hard coking coal, fob DBCT: $...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 22.Janie Davies and Cristina...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Key data from Fastmarkets' pricing session in the United Kingdom on Wednesday September 22.Key drivers:Secondary aluminium ingot prices in the UK rose in the week to Wednesday September 22 on record high scrap prices that continued to increase the manufacturing costs for secondary ingots.LM6/25 prices were up by over ?70 per tonne, with most sellers pushing offers above ?2,100 per tonne and...Read More
A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed to decarbonize the shipping industry.The call to action was signed by more than 150 industry leaders and organizations representing the entire maritime value chain, including shipping, cargo, energy, finance, ports and infr...Read More
Despite holidays, Asian markets remained the hot spot for spot copper trading with improving arbitrage terms, while premiums are stable in most of the Europe and the United States.EQ Shanghai premium jumps on African delay, arbitrageAfrican shipment delays and improving arbitrage during the past two weeks have boosted premiums of EQ cathode. Fastmarkets assessed the copper EQ cathode premium,...Read More
Tin premiums in Europe and the United States remain high due to the cost of shipping tin from Asia to the two regions and a rising spread backwardation on the London Metal Exchange, although premiums have dropped from their historic highs.Shipping costs remain high, with one container from Singapore to Antwerp said to cost $10,500, with the price doubling for the journey to the US. Taiwan pre...Read More
The first producer deals for the supply of aluminium to main Japanese ports (MJP) for the fourth quarter of 2021 have been concluded at a premium of $215 and $220 per tonne cif MJP, market sources said.Fastmarkets understands that the deals were between producers and market participants, although the tonnages had yet to be confirmed at the time of publication. Multiple market sources reported a de...Read More
Hot-rolled coil prices in the United States consolidated around the $97-per-hundredweight ($1,940-per-short-ton) level on Wednesday September 22, while the market remains engaged in thrashing out annual contract negotiations.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.94 per cwt ($1,938.80 per short ton) on September 22, a decrease of 0.57% from $97.50 per cwt...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton ($2.50 per cwt) in September, to fresh record highs for both domestic and import product.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $57.50-60.50 per hundredweight ($1,150-1,210 per ton) on Tuesday September 21, up by 2.61% from $56-59 per cwt on August 1...Read More
Galvalume prices in the United States climbed to an all-time high for a ninth consecutive month, with market participants projecting that the rally might be coming to an end due to a recent upsurge in imports."Time is on our side," a distributor source said. "During the fourth quarter, imports will lead the way." Fastmarkets' monthly price assessment for steel coil Galvalume, fob mill US...Read More
Export prices for steel billet from Iran continued to strengthen in the week to Wednesday September 22, supported by demand in the Asian market.One of the country's major exporters of semi-finished steel products, Khouzestan Steel, sold a cargo of billet on Wednesday, scheduled for shipment in November, at $635 per tonne fob southern ports of Iran.Several market sources reported another billet sal...Read More
Turkish steel mills again stayed away from the deep-sea scrap market on Wednesday September 22, with their requirements seemingly met by last week's purchases, market participants told Fastmarkets.Turkish steel mills remained absent from the deep-sea scrap market on Wednesday September 22, with their requirements seemingly met by last week's purchases, market participants told Fastmarkets.Mills ha...Read More