China's domestic rebar prices edged higher on Monday July 19, after power shortages increased participants' expectations of production reductions, sources said.Domestic Eastern China (Shanghai): 5,240-5,250 yuan ($809-810) per tonne, up by 10-40 yuan per tonnePower supply shortages in some regions have forced steelmakers to scale back operations, which increased participants' expectations of a pro...Read More
European steel association Eurofer is demanding stronger carbon emissions measures to guarantee a balanced approach that will enable a decarbonization of the region's steel industry, it said on Thursday July 15.On July 14, the European Commission adopted a package of proposals to make the EU's climate, energy, land use, transport and taxation policies fit to meet its greenhouse gas emissions targe...Read More
The London Metal Exchange launched new lithium and aluminium premium futures contracts on Monday July 19, which are cash-settled against Fastmarkets' assessments.The lithium contract will be cash-settled against Fastmarkets' price assessment for lithium hydroxide monohydrate, 56.5% LiOH.H2O min, battery grade, spot price, cif China, Japan & Korea. Fastmarkets' most recent assessment for this price...Read More
Three-month nickel was the only contract to trade higher in the morning session on the London Metal Exchange on Monday July 19, with most other base metals, with the exception of copper, consolidating at elevated levels.Nickel's three-month price rose to $19,155 per tonne in early trading, before easing slightly to $19,095 per tonne at 9am. The metal gained 2% throughout last week, finishing on Fr...Read More
Nornickel has not been offering spot nickel in the United States since February, which intensifies the supply shortage and rapidly rising premiums in the country since miners at Vale Canada went on strike on June 1, multiple sources told Fastmarkets.Nornickel has declined to comment but said that an update was imminent for its Taimyrsky mine - whose recent disruption, sources said, led to the halt...Read More
Alumina prices on an fob Australia basis were at a four-month high on Monday July 19 due to an increase in liquidity, with cargoes changing hands at higher prices.Fastmarkets assessed its daily alumina index, fob Australia, at $289.36 per tonne on Monday, the highest since March 19.Demand for cargoes has increased over the past week. But the rise in prices also related to concern in the market abo...Read More
Alumina prices on an fob Australia basis were at a four-month high on Monday July 19 due to an increase in liquidity, with cargoes changing hands at higher prices.Fastmarkets assessed its daily alumina index, fob Australia, at $289.36 per tonne on Monday, the highest since March 19.Demand for cargoes has increased over the past week. But the rise in prices also related to concern in the market abo...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow remained flat in the week to July 19 due to slower trading activity, sources told Fastmarkets.August rebar offer from key local suppliers to the region were broadly unchanged from July levels, despite an anticipated downward correction due toa temporary export duty on steel products in Russia starting August...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 pig iron import market in the United States was slow during the week to Friday July 16 because buyers held sufficient stocks and were waiting for prices to be reduced.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $625-645 per tonne on Friday, down from $650-655 per tonne a week before."Both Russia and Ukraine have unsold cargoes for August shipment and later....Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Monday July 19, with nickel and tin the standout performers, driven higher by supply disruptions.United States 10-year treasury yields continue to trend lower, despite inflationary pressures in the countryBase metalsLME three-month base metals prices were mixed this morning, with nickel up by...Read More
Here are five Fastmarkets stories you might have missed on Monday July 19 that are worth another look.European steel association Eurofer is demanding stronger carbon emissions measures to guarantee a balanced approach that will enable a decarbonization of the region's steel industry, it said on Thursday July 15.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...Read More
Several steelmakers in China stopped issuing export offers this week, while others sharply increased their offer prices to overseas buyers, suggesting that the Chinese government's desire to see production cuts is starting to have an impact.Steel mills, including Shandong Iron & Steel and Yingkou Medium Plate Co, have issued no export offers this week, with limited availability forcing them to pri...Read More
Inland dry ports will be constructed to facilitate bulk material transport and to improve air quality, according to a notice released by Handan Ecology and Environment Bureau (HEEB) on Monday July 19.HEEB released a notice on forwarding the Work Plan of Hebei province Atmospheric Pollution Control 2021, where the Leading Group of Hebei province Atmospheric Pollution Control proposed to construct i...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
Hot-rolled coil prices in the United States inched closer to the $91-per-hundredweight ($1,820-per-short-ton) mark again on Monday July 19, supported by strong demand for hot band amid lean supply.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $90.96 per hundredweight ($1,819.20 per short ton) on July 19, an increase of 0.23% from $90.75 per cwt on Friday July 16 and...Read More
Brazilian steel producers have accepted a reduction of 10% in import duties, and agreed to avoid raising domestic prices further, according to the country's economy minister, Paulo Guedes.The government has been in talks with representatives of steel producers, the country's construction industry and other end users. They are discussing options to normalize supply of rebar and other steel products...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