A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 15.Please click...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
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
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:Bulk and noble alloys both moved largely in line with our price forecasts globally over the past month, though several markets surprised to the upside, exceeding our forecast gains. Stronger-than-forecast pricing momentum was primarily triggered by supply shortages in numerous...Read More
China's domestic spot market for high-carbon ferro-chrome went up in the week to Tuesday September 14, reflecting tight availability and an expectation of good consumer demand.Fastmarkets' weekly price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, rose by 100-200 yuan per tonne to 10,000-10,300 yuan ($1,553-1,599) per tonne on Tuesday, from 9,800-10,200 yuan per tonne previou...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
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...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
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Janie Davies...Read More
Export billet prices from Iran continued to increase in the week to Wednesday September 15, supported by demand from Chinese customers.Severe production cuts, which are currently planned to last until October but may continue through December and even into early 2022, were the main reason behind the increased interest in import semis in China last week and early this week.These circumstances allow...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
Export prices for Japanese ferrous scrap received a boost after key local buyer Tokyo Steel said it would pay more for the steelmaking raw material, sources told Fastmarkets on Wednesday September 15.fob Japan scrap market participants expect further price increasesChina buyers remain wary amid production cutsJapanese H1&H2 scrap (50:50) loses appeal in TaiwanJapanTokyo Steel, Japan's largest oper...Read More
Base metals prices on the London Metal Exchange largely edged up on the morning of Wednesday September 15 after a day of weakness, but those on the Shanghai Futures Exchange were weaker because they followed movements in London on Tuesday and reacted to weaker Chinese economic data.China retail sales rose by just 2.5% in August after a 8.5% rise in JulyChinese industrial production climbed 5.3% in...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
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
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
Nickel premiums were steady globally, with bullish sentiment supporting premiums at their current levels, sources told Fastmarkets.Tight supply in China supports nickel premiums despite closed arbitrage windowUS nickel premiums hold steady, shrugging off backwardationEuropean premiums flat with stock outflows continuingChina's nickel cif premiums stable amid closed arbitrage windowNickel cif premi...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
China's domestic spot market for high-carbon ferro-chrome went up in the week to Tuesday September 14, reflecting tight availability and an expectation of good consumer demand.Fastmarkets' weekly price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, rose by 100-200 yuan per tonne to 10,000-10,300 yuan ($1,553-1,599) per tonne on Tuesday, from 9,800-10,200 yuan per tonne previou...Read More