Producers continued to raise their offer prices for low-carbon ferro-chrome during the week to Tuesday September 14 amid tight supply, high costs and uncertain logistics.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe was $2.78-3.10 per lb Cr on Tuesday, an increase of 5 cents, or 1.7%, from $2.73-$3.05 per lb Cr one week earlier."Several of the producer...Read More
Iron ore prices went down again on Wednesday September 15 with concerns about further steel production restrictions depressing iron ore demand outlook, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.65 per tonne, down $5.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.80 per tonne, down $4.83 per tonne58% Fe fines high-grade premium, cfr Qingdao: $88.53 per tonne...Read More
Shanghai copper premiums rose in the week to Tuesday September 14 with the market becoming quieter ahead of a national holiday in China, while in the United States copper cathodes continued to trade at multi-year high prices.Chinese electro-refined (ER) cathode import premiums hit peak of $85-95 per tonne before decliningUS market continues to be strongShanghai premiums rise ahead of holidayChina'...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Negative sentiment is prevailing among European buyers of hot-rolled coil, but mills managed to keep prices fairly stable in Italy and Northern Europe on Wednesday September 15, sources told Fastmarkets.Reduced demand from the automotive sector and cheap import material booked earlier this year that has arrived in the European Union and is awaiting customs clearance have been supporting the bearis...Read More
The domestic steel wire rod market in Northern Europe was quiet in the week to Wednesday September 15, with buyers expecting prices to decline in line with weakening scrap values and lower-cost imports.Producers, however, were in no hurry to drop their offer prices, sources told Fastmarkets on Wednesday.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality) domestic, delivered Nort...Read More
Domestic prices for hot-dipped galvanized coil declined across Europe in the week to Wednesday September 15 due to weaker demand from the automotive segment, sources told Fastmarkets.The European Union automotive industry is unlikely to use as many coil products as the market expected because car manufacturers are working at reduced rates due to the global shortage of semiconductor chips for onboa...Read More
Domestic prices for heavy plate in Europe declined in the week to Wednesday September 15 due to lower slab costs, sources told Fastmarkets.Sentiment in the market remains negative despite healthy demand."Demand is still good, whereas the sentiment is a bit more negative; everybody expects price reductions and has to state approximately ?,?100 per tonne loss on prices till now," a German distributo...Read More
Following a trade of US-origin premium hard coking coal on Wednesday September 15, Fastmarkets' index for premium hard coking coal, cfr Jingtang registered its largest-ever daily increase.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $560 per tonne, up $66.83 per tonneHard coking coal, cfr Jingtang: $464.78 per tonne, up $11.91 per tonnePremium hard coking coal, fob DBCT: $358.67 per...Read More
Chinese battery materials producer Xiamen Tungsten New Energy Materials (XTC) has struck a deal with CNGR Advanced Materials Co for the supply of cobalt tetroxide and ternary precursor materials, XTC announced on Wedmesday September 15.Under the agreement, which runs from September 14, 2021, to December 31, 2023, CNGR is expected to supply to XTC with 20,000-25,000 tonnes per year of cobalt tetrox...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
German steelmakers have settled their monthly steel scrap contracts for September at lower prices, following the trend in international markets and due to the increased availability of some scrap grades in the local market, sources told Fastmarkets on Wednesday September 15.The fall in prices of new scrap grades, including E8 grade, was less pronounced due to the continued short supply of material...Read More
Turkish steel producers have continued their deep-sea scrap bookings for October shipments at fairly stable prices, market participants told Fastmarkets on Wednesday September 15.A steel mill in the Marmara region booked a United States cargo, comprising 23,000 tonnes of HMS 1&2 (80:20) at $441.50 per tonne, 5,000 tonnes of shredded and 3,000 tonnes of plate and structural (P&S) at $456.50 per ton...Read More
London Metal Exchange prices bounced back on September 15, with lead the only metal under selling pressure. Aluminium had an intraday high of $2,924 per tonne. This is its highest price since it touched $3,000 per tonne on Monday prior to the sell-off on Monday afternoon. Its closing price was lower, at $2,893 per tonne, but still 2.2% higher than Tuesday's closing price. Similarly, nickel's...Read More
The price of steel hollow sections in Europe remained flat in the week to Wednesday September 15, with trading activity slowing down ahead of the imminent renewal of quarterly European import quotas, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,400-1,430 ($1,654-1,689) per tonne on Wednesday, unchanged since...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Chinese heavy steel plate export prices edged up in the week to Tuesday September 14, despite only limited trading activity, possibly influenced by vessel shortages and higher freight fees, sources told Fastmarkets.Fastmarkets' price assessment for November-shipment steel heavy plate, export, fob China main port was $910-920 per tonne on Tuesday, up by $5-10 per tonne from a week earlier.Ying...Read More
Iron ore prices went down again on Wednesday September 15 with concerns about further steel production restrictions depressing iron ore demand outlook, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.65 per tonne, down $5.02 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.80 per tonne, down $4.83 per tonne58% Fe fines high-grade premium, cfr Qingdao: $88.53 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 15 that are worth another look....Read More