Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Several provinces in China have been hit by power cuts in the past two months due to electricity shortages and energy controls, resulting in reduced production and price fluctuations for metals and ferro-alloys, including aluminum, zinc, silicon metal, ferro-chrome and silico-manganese. Supply of thermal power, the major method of power generation in the country, has been affected after coal price...Read More
Key data from the pricing sessions in Asia, Europe and the United States in the week to Tuesday June 8.ChinaRecent power cuts in Inner Mongolia and Guangxi provinces limited the availability of domestic ferro-chrome and supported the spot market.The spot market strength domestically and in other parts of Asia spurred positivity in the imported charge chrome market, although liquidity issues remain...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Tin was the best performer on the London Metal Exchange on June 8 due to its constrained global supply situation being set to worsen amid disruption from MSC, while the rest of the complex finished positively on afternoon US trade despite a broader consolidation.LME tin's three-month price closed at $31,223 per tonne on Tuesday, jumping up by 2.3% from Monday's closing price of $30,525 per tonne,...Read More
Strong demand and tight supply supported aluminium premiums at recent multi-year highs across the globe on Tuesday June 8, although levels for those in South Korea were unchanged for two months.End-user interest and insufficient supply offset London Metal Exchange backwardation in Rotterdam Japanese premium holds at two-year high on fresh deals South Korea stable for eight weeks amid little market...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Tin was the best performer on the London Metal Exchange on June 8 due to its constrained global supply situation being set to worsen amid disruption from MSC, while the rest of the complex finished positively on afternoon US trade despite a broader consolidation.LME tin's three-month price closed at $31,223 per tonne on Tuesday, jumping up by 2.3% from Monday's closing price of $30,525 per tonne,...Read More
The current upward momentum in pricing in the steel market should continue in the third quarter with support from short supply and solid demand, buoying an already optimistic market, the International Rebar Producers & Exporters Association (Irepas) said on June 4.EuropeRebar prices reached new highs during the second quarter of 2021 on support from long lead times, strong demand and limited impor...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More
Brazilian vehicle production rose by 348% in May 2021, compared with the corresponding period last year, when the Covid-19 pandemic led to several plant closures and resulted in output plummeting, national carmakers' association Anfavea said on Tuesday June 8.The country produced 192,843 units last month, significantly up from 43,080 units in May 2020. The May volume also represented a 1.01% incre...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...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 export prices of hot-rolled coil from the Commonwealth of Independent States fell during the week to Monday June 7 on new sales and uncertainty in the global market due to a lack of clarity on the imposition of an export tax on steel in China, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $995-1,020 per tonne on June 7, down from $1...Read More
The London Metal Exchange will enhance its off-warrant stock reporting, including limiting the warranting of metal that has not previously been disclosed in off-warrant stock reports, the exchange said on Tuesday June 8.The responses to the LME's discussion paper were generally supportive of the exchange taking a greater physical market role with respect to the off-warrant stock report, the LME sa...Read More
Domestic prices for hot-rolled coil were mostly stable across Europe on Tuesday June 8, on support from a continuing shortage of material, sources told Fastmarkets.The availability of domestic HRC has remained tight but lead times are no longer being extended, sources told Fastmarkets.Buyers have also been cautious about making new deals in fear of being left with stocks of high-priced coil if pri...Read More
Mexican ferrous scrap prices continued to increase during the week ended Friday June 4, with demand for steel and raw materials remaining strong.Some scrap buyers accepted price adjustments to their buying prices for certain grades, with sellers using higher-priced deals to leverage negotiations with buyers who insisted on lower prices. As a result, more deals were reported at higher lev...Read More
Strong demand and tight supply supported aluminium premiums at recent multi-year highs across the globe on Tuesday June 8, although levels for those in South Korea were unchanged for two months.End-user interest and insufficient supply offset London Metal Exchange backwardation in Rotterdam Japanese premium holds at two-year high on fresh deals South Korea stable for eight weeks amid little market...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
Here are five Fastmarkets stories from Tuesday June 8 that are worth another look.A rise in Covid-19 cases in China's Guangdong province in recent weeks has led to tighter controls and rigorous testing at the huge Yantian International Container Terminal (YICT), causing extended delays...Read More