The London Metal Exchange's base metals prices were robust at the close of trading on Thursday July 29, supported in part by a US Dollar Index that reached its lowest since June 29 and fundamental factors affecting the metals themselves.The dollar index bottomed at 91.87 on Thursday, having reached a year-to-date high of 93.19 on June 21, following the US Federal Reserve bank's renewed dovish stat...Read More
Iron ore prices fell on Thursday July 29 amid thin liquidity and soft market sentiments, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $196.06 per tonne, down $6.62 per tonne62% Fe low-alumina fines, cfr Qingdao: $197.46 per tonne, down $5.62 per tonne58% Fe fines high-grade premium, cfr Qingdao: $160.87 per tonne, down $7.36 per tonne65% Fe Brazil-origin fines, cfr Qingdao:...Read More
China's domestic rebar prices picked up on Thursday July 29 following futures gains on expectations of tight supply caused by a new power pricing method, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,300-5,330 yuan ($820-825) per tonne, up by 30 yuan per tonneThe National Development and Reform Commission now requires local governments to change peak-valley power prices for industri...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
The latest forecasts from Fastmarkets' team of analysts is ready to view.As we approach the end of the first half of 2021, steel markets in Europe and the United States continue to heat up. This six-month period is largely unprecedented, with both steel prices and steelmakers' margins hitting a number of new record highs throughout.The rally is likely nearing its end, however, with global steel ou...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Global welded pipe prices surged in May as strong demand and still-insufficient supply lifted flat steel prices.The biggest jumps were seen in China, which was hit by the unexpected announcement of the elimination of export rebates on welded pipes in April. Chinese seaborne prices reached $1,570 per tonne fob for longitudina...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Bulk ferro-alloy prices have shown impressive gains again this month, with ferro-silicon, silicon metal and manganese alloy prices all making significant increases. Noble alloy markets also enjoyed upward momentum, with both vanadium and molybdenum prices rising sharply.Recovering demand from steelmakers globally, together w...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
Inner Mongolia, China's ferro-chrome production heartland, has imposed restrictions on its metallurgical sector in a move that has fueled the high-carbon ferro-chrome markets in China and Europe, and although this may ease off, the gains were unlikely to be lost while alloy ramp-ups continue, sources have told Fastmarkets.The decision to restrict energy consumption in Inner Mongolia since December...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR?In a strong start to the year, January saw ore and alloy pricing gains across all markets priced by Fastmarkets - with the exception of Chinese silicon metal export prices, which retreated slightly last month after posting impressive gains in December 2020.The combination...Read More
The latest forecasts and analysis of the ferrous scrap and iron metallics market from the Fastmarkets research team are ready to be viewed.Stifled automotive output this year, driven by a supply shortage of semiconductor chips used in vehicles, has tightened prime scrap availability and widened the spreads between this grade of steelmaking raw material and obsolete scrap.While wide prime-over-obso...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices and margins for stainless steel producers have risen notably over the past few months in both Europe and the United States, but there are now signs that the rally is petering out.A clear reason for the halt to rising prices comes from the near 20% drop in nickel prices seen in late February/early March,...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Domestic hot-rolled coil prices in Europe held fairly firm on Thursday July 29 despite a higher number of competitive import offers, market sources told Fastmarkets.Demand in Northern Europe has been weak due to the seasonal summer-holiday slowdown across the EU.The number of offers from European mills has been limited anyway. Suppliers in Germany were reported to be holding back from making new o...Read More
The London Metal Exchange's base metals prices were robust at the close of trading on Thursday July 29, supported in part by a US Dollar Index that reached its lowest since June 29 and fundamental factors affecting the metals themselves.The dollar index bottomed at 91.87 on Thursday, having reached a year-to-date high of 93.19 on June 21, following the US Federal Reserve bank's renewed dovish stat...Read More
Chinese importers have been buying double the copper scrap from overseas under the category of 'recyclable copper material', yet its growth in secondary copper production is relatively modest. The country's import volume of copper scrap (HS code: 7404) almost doubled in the first half of 2021 to 821,376 tonnes. It is up 90.8% year on year from a base number affected by outbreak of Covid-19 in 2020...Read More