The European ferro-tungsten market rose over the week to Thursday July 8, with offer prices increasing rapidly on reduced spot availability in Europe and the prospect of Russia imposing an export tax from August 1.Fastmarkets assessed the price of ferro-tungsten, basis 75% W, in-whs dup Rotterdam, at $37.75-38.50 per kg on July 7, up from the previous assessment of $35.60-37.00 per kg. The market...Read More
Ferro-chrome prices in Asia and Europe have been trending upward since mid-May amid strong demand, with tightened supply from India fueling the bullish sentiment further in those markets, according to industry sources.India - ranked as the world's fourth-largest producer of ferro-chrome - produced around 1.28 million tonnes of the ferro-alloy in 2019, but last year it produced just 970,000 tonnes...Read More
Base metals prices on the London Metal Exchange showed mixed directions at the 5pm close of trading on Thursday July 8, with copper and aluminium down on a slowing Chinese economy and talks of tapering from the United States."The takeaway from last night's FOMC [meeting] appears to be that this month... should see the ramping-up of more formal talks on tapering, with the line that the conditions f...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 8 that are worth another look.Iran's steel output will be negatively affected by severe power shortages that started in June and still remain an issue, market participants said.Kamoa Copper's 3.8-million-tonne-per-year concentrator in the...Read More
Ferro-chrome prices in Asia and Europe have been trending upward since mid-May amid strong demand, with tightened supply from India fueling the bullish sentiment further in those markets, according to industry sources.India - ranked as the world's fourth-largest producer of ferro-chrome - produced around 1.28 million tonnes of the ferro-alloy in 2019, but last year it produced just 970,000 tonnes...Read More
Base metals prices on the London Metal Exchange showed mixed directions at the 5pm close of trading on Thursday July 8, with copper and aluminium down on a slowing Chinese economy and talks of tapering from the United States."The takeaway from last night's FOMC [meeting] appears to be that this month... should see the ramping-up of more formal talks on tapering, with the line that the conditions f...Read More
Seaborne iron ore prices dropped across the board on Thursday July 8, due to a weakening demand outlook caused by the growing potential for steel production cuts in the second half of the year, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $218.04 per tonne, down $4.35 per tonne62% Fe low-alumina fines, cfr Qingdao: $222.00 per tonne, down $3.70 per tonne58% Fe fines high-gr...Read More
Coking coal prices were largely stable on Thursday July 8, with sellers and buyers in China's cfr market assessing the potential impact of the government's desire to limit steel production.Fastmarkets indicesPremium hard coking coal, fob DBCT: $202.33 per tonne, up $0.08 per tonnePremium hard coking coal, cfr Jingtang: $308 per tonne, down $0.35 per tonneHard coking coal, fob DBCT: $173.58 per ton...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
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 7.Please click...Read More
Turkish steel mills continued to book deep-sea scrap for August shipment at slightly higher prices, market sources said on Thursday July 8.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (90:10) at $498 per tonne, shredded and plate & structural (P&S) at $516. The composition of the cargo was not shared by the parties involved. This compares with deep-sea bookings heard...Read More
Alcoa will supply low-carbon primary aluminium to WKW Extrusion's Erbsl??h Aluminium for its new brand of semi-finished extrusion alloys, the US producer said.Germany-based Erbsl??h Aluminium will use Alcoa's low-carbon EcoLum for its own Newtral brand of alloys. According to Alcoa, the new brand is designed with a specific focus on reducing carbon dioxide (CO2) emissions for customers in the auto...Read More
Base metals prices on the London Metal Exchange were down across the board on the morning of Thursday July 8, after a period of dip-buying activity saw prices rise on Wednesday."We are seeing strong selling pressure in the London Metal Exchange base metals complex today," Fastmarkets analyst Andy Farida said this morning. "Judging by the price action of all the base metals, the rebound seen on Wed...Read More
Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 8, after the United States Federal Reserve's latest minutes showed a slight pick-up in hawkishness.China is looking to cut the bank reserve requirement ratio (RRR), suggesting the authorities think the economy needs supportBase metalsLondon Metal Exchange three-month base metals prices were mixed on Thursday July 8,...Read More
China's domestic stainless steel prices softened over the week to Wednesday July 7 on losses in the nickel market and a drop in demand, though participants expected this to be temporary.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday at $18,317 per tonne, down by $123 per tonne from $18,440 per tonne a week earlier.DomesticStainless stee...Read More
Hot-rolled coil prices in the United States fell a day after surging above $90 per hundredweight ($1,8080 per short ton) for the first time, with market participants predicting that any declines will be temporary.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $89.47 per hundredweight ($1,789.40 per short ton) on Thursday July 8, down 1.23% from $90.58 per cwt on Wedn...Read More
Steel reinforcing bar prices in the United States' domestic market were steady again this week, with market sentiment mixed regarding what might come next.Fastmarkets' weekly assessment for steel rebar, fob mill US was at $48 per hundredweight ($960 per short ton) on Wednesday July 7, unchanged since June 16 but up by 9.09%% from $44 per cwt on June 2.US marketSupply remains tight, marke...Read More
US flat steel import prices have again climbed to record highs, with buyers in the United States competing with those in other countries to purchase material in a tight global market."Imports are getting more and more attention, but there is not a lot of availability," an East Coast distributor said.Fastmarkets' assessment for steel hot-rolled coil, import, ddp Houston was at $1,650-1,700 per shor...Read More
There was little activity in Egypt's steel rebar and billet markets in the week to Thursday, July 8, with market participants awaiting confirmation of changes to the country's import duties, sources told Fastmarkets.Egypt's Ministry of Trade & Industry is currently considering whether to remove or reduce import duties on steel because of the current high prices for long steel products and a shorta...Read More
European hot-rolled coil prices edged up on Thursday July 8, despite slow trading activity, supported by still-limited supplies, sources told Fastmarkets.Sufficient stocks at distributors, as well as full credit lines, were the main reasons behind the lack of trading activity, sources said. Buying interest remained subdued, with customer largely holding back and making only hand-to-mouth bookings...Read More