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
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
The price of steel H-beams in Europe moved down in the week to Wednesday September 22 after mills conceded a softening in prices following weeks of stability, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,030-1,050 ($1,208-1,232)per tonne on Wednesday September 22, down from ?,?1,050-1,080 per tonne from one week previou...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
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
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
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
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
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
U.S. equity index futures were higher this morning. S&P 500 futures were up 23 points in pre-opening trade.The Canadian Dollar was quiet at US78.93 cents prior to release of the July Canadian Retail Sales Report at 8:30 AM EDT. Consensus is an increase of 4.4% versus a gain of 4.2% in June.BlackBerry added $0.89 to US$10.45 after reporting higher than consensus second quarter revenues.KB Homes...Read More
CIS billet exporters saw some signs of support from China as the country's long-steel market opened stronger after the Mid-Autumn Festival ended on September 21.China's domestic rebar prices moved up sharply on Wednesday September 22 on market participants' expectations of supply cuts in the remaining months of 2021.Fastmarkets' daily price assessment for steel reinforcing bar (rebar) domesti...Read More
Base metals prices were mixed on both the LME and SHFE on Thursday September 23, with the broader markets welcoming the news that Chinese property giant Evergrande has avoided imploding, for now, and not spooked by the US Federal Reserve's more hawkish outlook.* Chairman Jerome Powell says the United States Federal Reserve could “easily move ahead” with its decision about when to taper*...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
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
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
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
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
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
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
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