European steel H-beam prices remained unchanged on Wednesday September 1, with market participants mulling the potential for a change in direction following a drop in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,240-1,275) per tonne on Wednesday, unchanged week on week.After returning to w...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 1.Key driversThe spot price range for ferro-titanium widened higher in the week to Wednesday September 1, with some suppliers reporting deals above $8.00 per kg for the first time since April 14.Suppliers reported signs of increased buying interest for the fourth quarter and first quarter of 2022, but only slim interest fo...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...Read More
The low-carbon ferro-chrome market in Europe surged to a new multi-year high in the week ended Tuesday August 31, with export taxes and tight supply driving up prices.Fastmarkets' price assessment for ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe, rose to $2.73-3.05 per lb Cr on Tuesday, up by 15-35 cents per lb (9.5%) from $2.38-2.90 per lb Cr on August 17."The low-carbon ferro-chrome...Read More
Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More
Fastmarkets has corrected its daily indices for steel scrap, HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, and steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, which were published incorrectly on Tuesday August 31 due to a calculation error.Fastmarkets' calculation of the index for MB-STE-0416 steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was published on Tuesda...Read More
Seaborne coking coal prices were up in both the cfr and fob markets on Wednesday September 1, although sources at two major mills in China said they did not want to buy at such high prices.Domestic first-tier coking coal prices in China, meanwhile, increased in fourth-quarter long-term contracts and coke prices increased for the eighth round since the start of August, sources said. Fastmarket...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 1.Fola Malomo, Cristina Belda and...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
China's domestic rebar prices continued on a downward trend on Wednesday September 1, following a weaker performance in the futures market.DomesticEastern China (Shanghai): 5,190-5,230 yuan ($803-810) per tonne, down by 30 yuan per tonneThe drop in iron ore futures pushed down ferrous futures more widely during the day, an industry analyst said. The most-traded January iron ore futures contract on...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
Prices for steel hollow sections in Europe remained steady on Wednesday September 1, and trading remained thin ahead of a possible downward trend, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,654-1,690) per tonne on Wednesday, unchanged week on week.With market participants returning after the sum...Read More
The export slab price from Iran decreased in the week to Wednesday September 1 after a fresh booking was heard at a lower level.Khouzestan steel, one of the country's largest slab exporters, finalized a tender for 40,000 tonnes of material to be shipped in mid-September at $680 per tonne fob southern ports, sources told Fastmarkets.Read More
Shanghai bonded aluminium stocks rose significantly in August after numerous cargoes were sent to China during the month amid expectations that China's arbitrage window will reopen soon.Fastmarkets assessed Shanghai bonded aluminium stocks at 105,000-106,000 tonnes on Tuesday August 31, a 63.6% increase from 64,000-65,000 tonnes on July 30 and more than 13 times higher than the year-ago stock leve...Read More
Brazilian iron ore export volumes increased by 11.68% year on year in August, according to figures released by the country's economy ministry on Wednesday September 1.Volumes exported came to 34.84 million tonnes last month, compared with 31.19 million tonnes a year earlier. Brazil-based mining company Vale has been...Read More
China's domestic rebar prices continued on a downward trend on Wednesday September 1, following a weaker performance in the futures market.DomesticEastern China (Shanghai): 5,190-5,230 yuan ($803-810) per tonne, down by 30 yuan per tonneThe drop in iron ore futures pushed down ferrous futures more widely during the day, an industry analyst said. The most-traded January iron ore futures contract on...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
Most base metals traded lower in the morning session on the London Metal Exchange on Wednesday September 1, following the release of manufacturing data from the United States and China that point to cooling economies, particularly China.The Chicago manufacturing purchasing managers' index (PMI) fell to 66.8 in August from 73.4 in July, while China's Caixin manufacturing PMI fell to 49.2 in August,...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 1.Fola Malomo, Cristina Belda and...Read More