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
Turkish steel producers made no new scrap bookings on Tuesday August 31, however a deal from the previous Friday came to light, which lowered prices, market participants said.The Baltic-sea cargo was heard late on Friday August 27, past the closing of the daily indices, and was followed by a public holiday in both Turkey and the United Kingdom on Monday August 30. The cargo was booked by a steel m...Read More
Aluminium premiums increased on Tuesday August 31 across the globe, with tight supply, an opened arbitrage window in China, and overall bullish sentiment providing market tailwinds and supporting all-time highs.Premiums up in Rotterdam on insufficient supplyUS Midwest premium stable at record highPremiums rise in Shanghai amid wide arbitrage profitsImproved market sentiment drives MJP premiums upw...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
Mexican steel scrap prices continued to decrease in the week ended on Friday August 27, as most steelmakers applied price cuts because of competition from imported material.Scrap consumers have been pushing through a series of weekly price cuts due to pressure from lower international prices.Fastmarkets' assessment of the steel scrap No1 busheling, consumer buying price, delivered mill Monterrey&n...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
China's domestic rebar prices edged down slightly on Tuesday August 31, but less so than futures due to strong end-user demand.DomesticEastern China (Shanghai): 5,220-5,260 yuan ($807-813) per tonne, widening downward by 10 yuan per tonne.The most-traded January rebar futures contract briefly dropped to today's low of 5,287 yuan per tonne before recovering...Read More
Base metals prices on the London Metal Exchange were mainly firmer on the morning of Tuesday August 31, while those on the Shanghai Futures Exchange were more mixed.This comes despite the release of some weaker-than-expected Chinese manufacturing numbers. The US dollar index was, however, weaker. China's manufacturing purchasing managers index (PMI) fell to 50.1 in August from 50.4 in July. China'...Read More
The London Metal Exchange's new digital register for physical metals data, LMEpassport, will launch on October 1, starting with aluminium, the exchange announced on Tuesday August 31.LMEpassport will store electronic Certificates of Analysis (CoAs), which are specification and quality assurance documents that must accompany shipments of LME metals into and out of warehouses.It will also store sust...Read More
Flat steel imports into the United Arab Emirates and Saudi Arabia were mostly at decreased offer prices during the week ended Tuesday August 31, while the uncertainty about the direction of prices continued, sources have told Fastmarkets.The uncertainty came because China has still not announced the level of an expected export duty to be applied to hot-rolled coil.Some buyers believed that new dut...Read More
Firmer Chinese steel markets have been supporting sentiment in the Chinese scrap market, keeping buyers optimistic about September and October, sources told Fastmarkets on Tuesday August 31.Prices in China inch up amid buyer optimismTaiwanese buyers could start paying moreChinaSpot prices for steel scrap imported into China edged up on Tuesday August 31 amid improving sentiment in the steel market...Read More
Seaborne coking coal prices increased across the board in both the cfr and fob markets on Tuesday August 31 amid ongoing tight supply, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $421.85 per tonne, up by $7.30 per tonneHard coking coal, cfr Jingtang: $392.81 per tonne, up by $2.60 per tonnePremium hard coking coal, fob DBCT: $255.70 per tonne, up by ...Read More
Seaborne iron ore prices were down on Tuesday August 31 amid suggestions in the local media that steel production cuts would be imposed in China's Guangxi province, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $153.67 per tonne, down by $2.99 per tonne62% Fe low-alumina fines, cfr Qingdao: $154.44 per tonne, down by $2.75 per tonne58% Fe fines high-grade premium,...Read More
Volatility in steel markets continues to build into the last four months of 2021, with the recent plunges in iron ore prices affecting the wider ferrous supply chain.Uncertainty about the outlook for the ferrous supply chain continues to build in the Asia-Pacific region, with a number of key determinants still appearing clouded and inconclusive. What are they and how will they affect the ferrous m...Read More
China's domestic rebar prices edged down slightly on Tuesday August 31, but less so than futures due to strong end-user demand.DomesticEastern China (Shanghai): 5,220-5,260 yuan ($807-813) per tonne, widening downward by 10 yuan per tonne.The most-traded January rebar futures contract briefly dropped to today's low of 5,287 yuan per tonne before recovering...Read More
With Italian steelmaker AFV Beltrame Group's recently announced investment in a new green steel plant in Romania, chief executive Carlo Beltrame is looking to futureproof the company ahead of the upcoming green steel revolution. In discussion with Fastmarkets' Carrie Bone, he outlined the changes and challenges anticipated for decarbonizing the steel industry."Why green? Because when we started on...Read More
European prices for ferro-silicon were likely to set more record highs in the near term, with the market already at levels not seen since Fastmarkets started to assess the market in the late 1990s.A combination of firm fundamentals, an acute container shortage, record high freight rates, and production and transportation issues were all set to boost the metals markets at least through December and...Read More
London Metal Exchange prices were mixed on the morning of Tuesday August 31, with aluminium and nickel leading on the upside due to tightening fundamentals but lead's three-month price under pressure. Aluminium's three-month price reached a peak of $2,726.50 per tonne on Tuesday morning, its highest since May 2011, when the metal reached $2,746 per tonne. It was down slightly to $2,697.50 per...Read More
Export slab prices from the Commonwealth of Independent States (CIS) region decreased in the week to Tuesday August 31 pressured by multiple negative factors.Lower CIS finished flat steel prices both in the domestic markets and for foreign customers was one of the reasons for the decline in slab segment.Fastmarkets' weekly assessment of the price for steel hot-rolled coil, export, fob Black Sea, C...Read More