Hot-rolled coil markets across Europe remained quiet on Monday September 6, with sentiment was increasingly bearish because of the decline in demand from the automotive sector, sources told Fastmarkets.Opinions differed between mills and buyers on the future direction of HRC prices, with trading activity in both Northern Europe and Italy remaining slow on Monday.Buyers were expecting prices to dro...Read More
Export rebar and wire rod prices from the Commonwealth of Independent States (CIS) region continued to decrease in the week to Monday September 6, pressured by competition with Turkish mills, sources told Fastmarkets.Offers of Turkey-origin rebar for foreign customers have slid $10-20 per tonne over the past two weeks, to $670-675 per tonne fob Black Sea.Wire rod was available at $770-790 per tonn...Read More
Continued low demand for aluminium in Japan, unchanged since August, has weighed on fourth-quarter negotiations for the main Japanese ports (MJP) aluminium premium, which started around August 24.Multiple sources reported on Monday September 6 that the first producer to extend the offer of $230 per tonne has put back its quarterly negotiation deadline by one week to September 10, but it will not l...Read More
Surging primary aluminium premiums are heightening the risks for consumers and suppliers, producers and market analysts said at Fastmarkets' virtual International Aluminium Conference last week.Representatives from Vedanta, Rusal and McKinsey joined a discussion panel on Thursday September 2 to debate market drivers, high premiums and sustainability, among other topics. Billet premiums have r...Read More
The union representing 300 workers at the Caserones copper mine in Chile and its operating company Minera Lumina Copper Chile reached an agreement on a three-year labor contract on Saturday September 4, bringing to an end a four-week strike.The agreement was made when 98% of the union's members approved the latest offer presented by the company, which was also signed on Saturday, Minera Lumina sai...Read More
Aluminium's three-month price set a new year-to-date high of $2,775.50 per tonne during early trading on Monday September 6, with political turmoil in Guinea - the world's top bauxite exporter - lending further supply-side support to the metal.The metal's three-month price was $2,755 per tonne on Monday morning, a 1% rise on the previous Friday's closing price of $2,727 per tonne, with more than d...Read More
Base metals prices on the London Metal Exchange were on divergent paths on the morning of Monday September 6, after a weaker-than-expected US jobs report on Friday sent out mixed signals.But base metals prices on the Shanghai Futures Exchange were generally stronger this morning while they tracked the gains seen on the LME on Friday, which came despite the disappointing data from the United States...Read More
Domestic prices for hot-rolled coil in Northern Europe and Italy were broadly flat during the week ended Friday September 3 amid subdued trading activity, with buyers holding back from making deals and mills refusing to accept lower prices, Fastmarkets has learnt.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,138.38 ($1,352.19) per tonne on Fri...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in August 2021.The case list below includes only updates. For other continuing cases this year, see the updates for January, February, March, April,...Read More
Domestic hot-rolled coil prices in China extended their gains on Monday September 6, with the latest data showing a further drop in supply despite the advent of the September-October peak demand season.DomesticEastern China (Shanghai): 5,800-5,850 yuan ($899-906) per tonne, up by 40-50 yuan per tonneThe China Iron & Steel Association said on Saturday that the daily crude steel output of its member...Read More
Import prices for rebar in Singapore continued to trend downward in the week to Monday September 6 amid ample spot supply and weak demand among buyers.A trader offered a position cargo of Indian rebar at $720 per tonne cfr Singapore on a theoretical weight basis during the week.Turkish rebar was offered at $720-725 per tonne cfr Singapore on a theoretical weight basis following a recent drop in sc...Read More
China's domestic rebar prices continued to rise on Monday September 6 following the release of data from the China Iron & Steel Association (Cisa) showing a drop in steel production rates in the country.DomesticEastern China (Shanghai): 5,280-5,310 yuan ($818-823) per tonne, up by 10 yuan per tonneCisa reported that its member mills' daily crude steel output over August 21-31 was 2.05 million tonn...Read More
Turkish steelmakers made no new deep-sea bookings on the first day of the working week, but two deals made last week came to light on Monday September 6.Overall demand for deep-sea scrap remains limited and finished steel sales are still sluggish, according to market sources."I don't expect demand for scrap to recover this week. Finished steel sales are still limited in the domestic and export mar...Read More
Turkish domestic scrap prices dropped over the past week amid weakening imported scrap values, market participants told Fastmarkets on Monday September 6.Turkish mills continued their deep-sea scrap purchases last week, albeit at a slow pace.Fastmarkets' index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $ 440.25 per tonne on Friday September 3,...Read More
Seaborne coking coal prices across the board in both fob and cfr markets jumped on Monday September 6 on sustained tight supply and good overseas demand, reaching new highs since Fastmarkets established its coking coal indices. And the ninth round of Chinese domestic coke price hikes since the start of August was fully executed.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $450.61 per...Read More
Seaborne iron ore prices fell on Monday September 6, due to Chinese authorities taking a stricter stance against steelmakers on steel production curbs and the start of sintering restrictions, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.38 per tonne, down $12.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.02 per tonne, down $12.28 per tonne58% Fe fines high-gra...Read More
China aims to increase domestic iron ore concentrate output by 100 million tonnes during the 14th five-year plan ending 2025, the China Iron and Steel Association (Cisa) said on Saturday September 4.Cisa vice chairman Luo Tiejun also said China aims to intensify exploration of overseas iron ore resources and drive the development of high-quality iron ore projects such as the Simandou project in Af...Read More
Prices for seaborne iron ore concentrate fell, while pellet prices increased in the week to Friday September 3, but demand weakened over concerns about further steel production cuts in more provinces in China, sources said.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $164 per tonne, down $1.97 per tonne.Iron ore pellet premium over 65% Fe fines, cfr China: $33.70 per tonne, down $0...Read More
A summary of Belgian antimony chemicals producer and lead recycler Campine's financial results in the first half of 2021, published Thursday September 2.In briefCampine attributed the increased sales and profit to the global post-pandemic recovery and increasing raw material prices - particularly antimony, the key metal in Campine's specialty chemicals division.Campine's revenue amounted to ?,?106...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...Read More