The European Union is suggesting the US impose tariff-rate quotas on steel and aluminium imports in a bid to reach an agreement with the US on exempting the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel and aluminium.The then-p...Read More
Domestic prices for hot-rolled coil were fairly stable across Europe on Wednesday September 8, with both buyers and sellers following a "wait-and-see" strategy, sources told Fastmarkets.Buyers have been avoiding purchases, anticipating domestic prices for coil to drop under pressure from competitive imports, lower demand from spot buyers and additional volumes that could become available for...Read More
Brazilian automotive production fell by 21.90% in August 2021 compared with the corresponding month last year due to partial or complete stoppages across the country because of the global semiconductor chip shortage, national manufacturers' association Anfavea said on Wednesday September 8.Output amounted to 164,027 units during August, down from 210,009 units a year before and the worst August nu...Read More
Domestic cut and shredded scrap prices in the export-dependent regions of the United States' ferrous scrap market could face further drops in October, pressured by an ongoing decline in US export markets.Plunging prices for US deep-sea cargo exports to Turkey, caused by weakening demand, are reportedly dictating the direction of prices in export-influenced domestic markets, such as Philadelph...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 8.Key driversThe spot price range for ferro-titanium consolidated higher in the week to Wednesday September 8, cementing a small gain from the week prior.Suppliers reported low-key but steady buying interest from steelmakers, and there are bigger tenders to be concluded for hundreds of tonnes being delivered in the fourth...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...Read More
Hot-rolled coil prices in the United States have consolidated around the $97-per-hundredweight ($1,940-per-short-ton) level, with some buyers choosing to meet their supply needs using imported material rather than pay the steep domestic prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.90 per cwt ($1,938 per ton) on Wednesday September 8, down by 9 cents (0.0...Read More
A second lithium trade has been brokered against the CME Group's cash-settled lithium futures contract, which is settled against Fastmarkets' assessment of the spot price for battery-grade lithium hydroxide in China, Japan and South Korea. A total of five tonnes of the October contract was traded at $19.75 per kg on Tuesday September 7. The transaction follows the first such trade involving the sa...Read More
Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
Turkish steelmakers went quiet in the deep-sea ferrous scrap markets once again after booking a number of cargoes for October shipment earlier this week, market participants said on Wednesday September 8.Three steel producers did book four deep-sea cargoes from various locations on Tuesday September 7. But weak demand for Turkish long steel products in the export markets has been keeping Turk...Read More
Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
The Russian government is proposing to abolish or reduce its recently-imposed export taxes on ferro-alloys - with the exception of ferro-silicon - in a surprise decision announced on Tuesday September 7. No firm date was given for the introduction of the planned changes.The Russian government introduced duties on 340 steel and non-ferrous metals outside the Eurasian Economic Union (EAEU) in June 2...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed on the morning of Wednesday September 8. Aluminium, nickel and zinc prices on the LME were holding up well, while copper, tin and lead look more vulnerable. Federal Open Market Committee member James Bullard said the Federal Reserve should start tapering, which has lifted US treasury yields and the dollar...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesJuly 22, 2021: 5 tonnes for August 2021 at $25 per lbJuly 23: 5 tonnes for September 2021 at $25.20 per lbJuly 28: 176 tonnes (88 tonnes for August at $25.04 per lb; 88 tonnes for December at $25.40 per...Read More
The price of premium hard coking coal fob jumped on Wednesday September 8 with news of a fresh offer, while sources heard part of the tender result of Russian company Mechel.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $460.63 per tonne, up $2.82 per tonneHard coking coal, cfr Jingtang: $433.94 per tonne, up $2.52 per tonnePremium hard coking coal, fob DBCT: $300.87 per tonne, up $17...Read More
Base metals prices were mixed on the London Metal Exchange during morning trading on Wednesday September 8, with nickel leading the complex, up by 1.7%.The three-month nickel price rose to $19,380 per tonne at 9am on Wednesday, up from $19,506 per tonne at Tuesday's 5pm close. Some 1,650 tonnes of nickel were removed from LME warehouses overnight - mostly from warehouses in Kaohsing in Taiwan, Joh...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...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
A correction has been issued for this article. The update can be found here.Read More