Copper premiums in China and the United States have parted ways this week, though an actual shift of copper cathode to the western hemisphere has yet to take place.Shanghai premiums sink to 9-year lowChinese premiums for copper cathode imported into the country sank to their lowest level since 2012 in the week to Tuesday May 11, and trading sentiment is very low amid unfavorable import conditions....Read More
China's premium for imported nickel full-plate moved slightly lower amid minimal spot trading due to a big arbitrage loss while European premiums held flat in thin spot trading and US premiums were little moved after market-caution arose following price volatility on exchanges, sources told Fastmarkets. China nickel market premium dips after holidayPremiums unchanged in Europe and US amid thin tra...Read More
Hot-rolled coil prices in the United States set a new record for the third day in a row, passing the $77-per-hundredweight ($1,540-per-short-ton) threshold for the first time on Wednesday May 12. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $77.06 per cwt ($1,541.20 per ton) on May 12, up by 0.59% from $76.61 per cwt on Tuesday May 11 and by 4.01% from $74.09 per c...Read More
A summary of German steelmaker Salzgitter's financial results for the first quarter of 2021, running January to March.In brief A sustained steel market recovery and rising steel prices benefited the company's performance over the period. While almost all sectors reported a steady increase in their monthly results over the quarter, increased earnings for the period were especially attributable to t...Read More
ArcelorMittal has increased its official offer prices for all coil products across Europe by ?,?50 ($61) per tonne, sources told Fastmarkets on Wednesday May 12. This will be the sixth consecutive week that ArcelorMittal Europe has increased its coil offer prices. Its new offers for HRC have now reached ?,?1,100 per tonne ex-works, while prices for downstream flat steel products - cold-rolled and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...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 Cobalt standard grade, in-whs Rotterdam, $/lb at 20.00-20.50...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.Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt hydroxide...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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 Cobalt...Read More
Prices for steel wire rod in the north of Europe have jumped upward over the past week, backed by limited domestic supply, costlier scrap and increased offers from overseas suppliers, Fastmarkets heard on Wednesday May 12.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?720-750 ($875-911) per tonne on Wednesday, up from ?,?670-690...Read More
Commodity trading company Traxys has renewed a $1.33 billion revolving credit facility with 26 lenders, it said on Monday May 10, dating the completion of the deal as May 4.Lead arrangers were Rabobank, Deutsche Bank, ING, Soci?(C)t?(C) G?(C)n?(C)rale, Natixis...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
The market for the higher grade of high carbon ferro-chrome inched upward on Tuesday May 11 due to strong end-use demand, while the lower grade ticked down following lower offers for Indian material. Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 65-70% Cr, max 1.5% Si, delivered Europe price assessment widened upward by 1 cent (0.4%) to $1.20-1.49 per lb Cr on Tuesday May 11 from $1.2...Read More
Prices for steel hollow sections in Europe continued to rise on Wednesday May 12, with the rise in feedstock material costs showing no sign of slowing, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?1,190-1,220 per tonne ($1,446-1,482) per tonne on May 12, up from ?,?1,120-1,190 per tonne on May 5."I had thought...Read More
The prices paid for deep-sea scrap cargoes by Turkish steel mills continued to rise in the wake of recent changes in Chinese tax policy that have seen billet and long steel demand increase, Fastmarkets heard on Wednesday May 12.A mill in the Izmir region booked a cargo from the UK comprising 6,000 tonnes of HMS 1&2 (80:20) at $499 per tonne and 18,000 tonnes of shredded scrap at $519 per tonne.A m...Read More
The jump in Kanto Tetsugen auction prices has led to another increase in the Japanese export price for steel scrap over the past week, market sources told Fastmarkets on Wednesday May 12.Tuesday's auction by Kanto Tetsugen, which is a cooperative of scrap dealers in the Tokyo region, closed its monthly H2 grade scrap export price at an increase of ?5,899 ($54) per tonne month on month, with the h...Read More
Exports of ferrous materials from India could become more logistically challenging in the coming weeks while the country battles the Covid-19 pandemic, market participants have told Fastmarkets.The worst may still be to come for steel exports out of Covid-hit eastern India, sources said, because of a lack of available stevedores, forces majeures at ports and reduced steel output at certain plants....Read More
The export steel billet price from the Commonwealth of Independent States (CIS) region jumped again on Wednesday May 12, this time by $45 per tonne following Tuesday's $37-per-tonne increase, after customers in Latin America and China accepted higher levels in fresh deals. Fastmarkets' daily steel billet index, export, fob Black Sea, CIS rose to $725 per tonne on Wednesday, from $680 per tonn...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 11 that are worth another look....Read More