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
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
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
Increasing expectations of tighter production curbs in China have put pressure on scrap demand from steel mills in the country, weighing down imported scrap prices, sources told Fastmarkets on Wednesday September 22. Sentiment in China sours because buyers expect tighter production curbsTaiwanese buyers keep bids stableShredded import prices rangebound in IndiaChinaBids for import cargoes of steel...Read More
Domestic hot-rolled coil prices in China were largely stable but in a wider range on Wednesday September 22, even as futures prices in the ferrous complex jumped on the first trading day after a three-day holiday for the Mid-Autumn Festival.DomesticEastern China (Shanghai): 5,720-5,800 yuan ($885-897) per tonne, widening by 10-20 yuan per tonneAfter oscillating in negative territory for most of th...Read More
Dip buying and the resumption of trading in Asia gave a boost to most metals on the LME on the morning of Wednesday September 22, with tin rising the most while lead was the only metal still trending to the downside. Tin's futures contract was up 5% on Wednesday at 9am to $35,500 per tonne, compared with Tuesday's $33,820 per tonne, with the metal also hitting $35,680 per tonne during early tradin...Read More
China's domestic rebar prices moved up sharply on Wednesday September 22 on market participants' expectation of supply cuts in the remaining months of 2021. Domestic Eastern China (Shanghai): 5,800-5,840 yuan ($897-903) per tonne, up by 220 yuan per tonne China produced 20.12 million tonnes of rebar in August, down by 16.1% from a year earlier and 4.26% lower than in July, according to data...Read More
Base metals prices on the LME were mainly rebounding on Wednesday September 22, after dip buyers took advantage of Tuesday's price weakness, while metals in Shanghai were mixed but mainly down in response to the downturn in London this week.Risk-off sentiment eased slightly as Chinese property giant Evergrande said it would pay some of the interest on its bonds, due Thursday, but the market is als...Read More
Antimony prices have been forced up to a fresh twelve-month high after water contamination concerns sparked mine closures in China, exacerbating logistics-related supply constraints.Fastmarkets' latest price assessment for antimony, max 100 ppm Bi, in-whs Rotterdam rose to $12,700-13,150 per tonne on Wednesday September 22, compared with $12,500-13,100 in the previous session and $11,700-12,100 on...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Jon Stibss,...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 22.Key driversFerro-titanium and titanium scrap markets held steady for the third consecutive week in the seven days to Wednesday September 22, with suppliers expecting new tenders from steelmakers around the end of the month and into October. A few deals were reported at around $7 per kg, although they contained more alum...Read More
Stainless steel scrap 304 prices hit a wall on Tuesday September 21, due to the London Metal Exchange cash nickel price plummeting 52 cents per lb since September 17 when it was $9.10 per lb."Quite a drop [in the LME cash nickel price], and market prices for stainless steel scrap are already too high relative to mill pricing, so we are pulling back," one processor said.Stainless processors are alr...Read More