The Brazilian steel institute A??o Brasil increased its forecast for apparent steel consumption in 2021, predicting a growth of 24.10% from the previous year.Apparent steel use is now estimated to reach 26.61 million tonnes this year, compared with 21.45 million tonnes in 2020, the association said on Thursday July 22. The figure is also higher than May's forecast of 24.66 million tonnes.Main stee...Read More
Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 22, but have generally recovered from Monday's weakness, suggesting the dip-buying mentality still dominates. Lead prices at fresh highs as German lead producer Berzelius declared force majeure on supply after severe flooding forced it to suspend operations at its Stolberg smelter. United States 10-year treasury yie...Read More
United States copper producer Freeport-McMoRan reiterated its 2021 consolidated sales target of around 3.85 billion lbs (1.75 million tonnes) of copper while its ramp-up to underground mining at its Grasberg mine in Indonesia continues.This is an increase from 3.2 billion lbs - or 1.4 million tonnes - in 2020, and comes after the company reported lower second quarter copper sales than previously e...Read More
Iron ore prices fell on Thursday July 22 amid a weak short-term demand outlook, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $202.63 per tonne, down $12.16 per tonne62% Fe low-alumina fines, cfr Qingdao: $204.62 per tonne, down $11.55 per tonne58% Fe fines high-grade premium, cfr Qingdao: $166.88 per tonne, down $9.56 per tonne65% Fe Brazil-origin fines, cfr Qin...Read More
A large-scale expansion at Freeport-McMoRan's El Abra copper mine in Chile is still being evaluated, although potential changes to the country's fiscal regime could lead to its deferment, the US copper producer said.The expansion would see the plant in northern Chile process additional sulfide material and achieve higher levels of copper recovery. According to Freeport, El Abra's large sulfide res...Read More
Fastmarkets has corrected its alumina index, fob Australia, which was published incorrectly on Tuesday July 20 and Wednesday July 21 due to an index calculation error.On July 20, the alumina index, fob Australia, should have been $289.74 per tonne but was incorrectly published as $289.62 per tonne.On July 21, the alumina index, fob Australia, should have been $291.11 per tonne but was incorrectly...Read More
The European market for steel hot-rolled coil remained quiet on Thursday July 22, with most producers holding back offers amid seasonally slow trading, sources told Fastmarkets.Sentiment turned negative in Northern Europe after severe flooding in Germany and parts of Belgium reduced trading activity to close to zero, with buyers and sellers assessing the consequences for the market.Even though the...Read More
Increasing supplies of H2-grade steel scrap have allowed South Korean buyers to obtain the material at lower prices in the week to Thursday July 22, sources told Fastmarkets.Summer maintenance rounds at various Japanese steelmakers have reduced consumption of material in that local market, but the tighter supply and strong demand seen in higher grades such as Shindachi busheling have kept prices f...Read More
China's domestic hot-rolled coil prices edged lower on Thursday July 22 after market participants reacted to Beijing's latest efforts to stabilize commodity prices.DomesticEastern China (Shanghai): 5,800-5,900 yuan ($897-912) per tonne, widening by 20-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange touched an intraday low of 5,802 yuan per tonne in early afternoon tr...Read More
Export billet prices from the Commonwealth of Independent States increased toward the end of the week after several bookings done at higher prices came to light, sources told Fastmarkets.The Middle East-North Africa (Mena) region including Turkey and the Gulf Cooperation Council (GCC) were not present in the market in the week to Thursday July 22 due to celebrations for the Eid Al-Adha Islami...Read More
Export billet prices from the Commonwealth of Independent States increased toward the end of the week after several bookings done at higher prices came to light, sources told Fastmarkets.The Middle East-North Africa (Mena) region including Turkey and the Gulf Cooperation Council (GCC) were not present in the market in the week to Thursday July 22 due to celebrations for the Eid Al-Adha Islami...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 22 that are worth another look.Production of steel will be halted for at least two weeks in the key Bangladesh market when the country's latest Covid-19-related lockdown starts on Friday July 23, sources have told Fastmarkets.Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Declan...Read More
Domestic prices for ferro-chrome in the spot market in China surged in the week ended Tuesday July 20 following production cuts in the province of Inner Mongolia.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, jumped by 17.3% to 10,000-10,300 yuan ($1,541-1,587) per tonne on Tuesday, from 8,500-8,800 yuan per tonne one week earlier, and was now at its highest...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 21 that are worth another look.Flat steel sales from Brazilian distributors increased by 3.3% year on year in June; volumes began to stabilize after strong growth in the first half of 2021, flat steel distributors...Read More
European lead smelter Berzelius Metall has declared force majeure on supply contracts after floods that have caused chaos in northern Germany and Belgium forced the closure of its Stolberg smelter.Fastmarkets' calls to Berzelius were not answered, while an email to parent company EcoBat Technologies was not responded to by the time of publication.But sources in the lead market confirmed to Fa...Read More
Base metals prices on the London Metal Exchange were broadly stable on Wednesday July 21, with minimal reaction to China's announcement to sell more state reserve metal during the day. The three-month zinc price closed 1.1% lower than the previous day at $2,929 per tonne, while the three-month aluminium price was down 0.5% to close at $2,453.5 per tonne from a day ago,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday July 21 that are worth another look.Flat steel sales from Brazilian distributors increased by 3.3% year on year in June; volumes began to stabilize after strong growth in the first half of 2021, flat steel distributors...Read More
Fastmarkets' Asia ferro-silicon prices were published early today due to an editor error.These prices were published at 10.35 GMT instead of 14.00-15.00 GMT. The pricing session took place as normal and the data appears as intended.The affected prices are:Ferro-silicon 75% Si min, cif Japan, $/tonneFerro-silicon 75% Si min, in-whs China, yuan/tonneFerro-silicon 75% Si min export, fob China, $/tonn...Read More
European lead smelter Berzelius Metall has declared force majeure on supply contracts after floods that have caused chaos in northern Germany and Belgium forced the closure of its Stolberg smelter.Fastmarkets' calls to Berzelius were not answered, while an email to parent company EcoBat Technologies was not responded to by the time of publication.But sources in the lead market confirmed to Fa...Read More