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
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
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
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
Domestic prices for European heavy steel plate increased further in the week to Wednesday May 12, supported by good demand and material availability becoming limited, sources have told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?980-1,020 ($1,191-1,239) per tonne on May 12, up by ?,?30-40 per tonne week on week from ?,?950-980 per tonne.T...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Domestic prices for hot-rolled coil continued to rise across Europe on Wednesday May 12, with producers having few volumes to offer in the spot market and there being a lack of import alternatives, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?1,058.13 ($1,285.71) per tonne on May 12, up by ?,?15.63 per tonne from ?,?1,0...Read More
Here are five Fastmarkets stories you might have missed on Wednesday May 12 that are worth another look.The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the...Read More
The differential between duty-paid and duty-unpaid aluminium premiums in Rotterdam has been trading far below the traditional 3% duty delta for well over the past year and market participants are questioning if this is a new norm. Fastmarkets assessed the aluminium P1020A premium, in-whs dp Rotterdam at $225-240 per tonne on Tuesday May 11. On the same day, Fastmarkets assessed the aluminium P1020...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
Futures prices on the London Metal Exchange were down across the board at the close of trading on Wednesday May 12, after higher-than-expected inflation indicators in the United States pushed the dollar up to its highest figure this week.Lead was the metal most badly affected by the inflation numbers released earlier on Wednesday, with its price down by 1.6% to $2,187 per tonne, from $2,222 per to...Read More
Iron ore prices rose on Wednesday May 12 because of the strong price performance for steel products, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $237.57 per tonne, up $8.64 per tonne 62% Fe low-alumina fines, cfr Qingdao: $240.00 per tonne, up $10.19 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $207.22 per tonne, up $7.15 per tonne 65% Fe Brazil-origin fines, c...Read More
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
Iranian export prices for steel billet and slab went through several rounds of increases over the week to Wednesday May 12, supported by demand from China.China's domestic rebar prices surged on May 10 and set a new high after the October futures contract on the Shanghai Futures Exchange hit the daily limit within 10 minutes of the start of trading.Fastmarkets' assessment of the price for steel re...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 12.Please click...Read More
Futures prices on the London Metal Exchange were down across the board at the close of trading on Wednesday May 12, after higher-than-expected inflation indicators in the United States pushed the dollar up to its highest figure this week.Lead was the metal most badly affected by the inflation numbers released earlier on Wednesday, with its price down by 1.6% to $2,187 per tonne, from $2,222 per to...Read More
The total amount of metal held outside of the London Metal Exchange network fell by 40% in March 2021 to 1.25 million tonnes from just over 2 million tonnes in February, the latest data from the Exchange shows.The LME's latest off-warrant stock report showed a decrease of 841,034 tonnes over March, down from February's reading of 2,093,017 tonnes. There was a decrease in every metal held off warra...Read More
The differential between duty-paid and duty-unpaid aluminium premiums in Rotterdam has been trading far below the traditional 3% duty delta for well over the past year and market participants are questioning if this is a new norm. Fastmarkets assessed the aluminium P1020A premium, in-whs dp Rotterdam at $225-240 per tonne on Tuesday May 11. On the same day, Fastmarkets assessed the aluminium P1020...Read More
Zinc premiums in the United States and Europe rose during the week to Tuesday May 11, with the import arbitrage loss keeping Chinese premiums stable. The surge of Covid-19 cases in India, meanwhile, has led to freight cost rises for imports into the country.Fervent zinc demand has been noted in the US and northern Europe, leading to a rise in premiums in those regions. London Metal Exchange prices...Read More
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