The three-month price of copper breached the $10,000-per-tonne mark on the London Metal Exchange during trading on Thursday April 29, while zinc and aluminium also reached fresh year-to-date and multi-year highs, driven by overall bullish sentiment.Most metals set their new highs during early trading, when the US Dollar Index was around its two-month low of 90.47 on Thursday morning. But when the...Read More
ArcelorMittal has again increased its official offer prices for all steel coil products in Northern Europe by ?,?20-50 ($24-60) per tonne, sources told Fastmarkets on Thursday April 29.The steelmaker had already increased its offers three times in April.With this latest increase, offer prices for hot-rolled coil reached ?,?1,020 ($1.233) per tonne ex-works, up by ?,?20 per tonne from the most rece...Read More
Information about a new tax regime for imports of steel billet into China, to start on Saturday May 1, has added to the bullish sentiment among CIS billet exporters.On Wednesday April 28, China's ministry of finance announced that, in order to better guarantee the supply of steel resources and promote the high-quality development of the domestic steel industry, the import tariff for certain steel...Read More
Here are five Fastmarkets stories you might have missed on Thursday April 29 that are worth another look.Major Indian steelmaker JSW Steel is reducing steel production to ensure that sufficient oxygen is sent from its plants to the healthcare sector to help combat the surge in Covid-19 cases in...Read More
Prices for imported hot-rolled and cold-rolled coil in the United States climbed to new all-time highs over the past two weeks, with US consumers competing with other buyers to purchase limited material."There is not a lot of supply anywhere," a consumer said. "I'm not interested in the imports that are available because they are too expensive."Fastmarkets' assessment for steel hot-rolled coil, im...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) will increase domestic flat-rolled steel prices by 16-18% in May, following the upward trend in other global markets and in an attempt to offset raw material cost inflation, commercial executive director Luis Martinez announced during the company's first-quarter earnings call on Thursday April 29.CSN's hot-rolled coil prices will rise by 1...Read More
Fastmarkets has corrected its weekly price assessment for Aluminium ingot ADC 12, exw dp China, yuan/tonne, which was published incorrectly on Wednesday April 28 due to a reporter error.The assessment should have been 17,900-18,300 yuan per tonne, rather than 17,900-18,200 yuan per tonne, which was the previous week's range.This has now been corrected in Fastmarkets' pricing database, MinD.For mor...Read More
ADC 12 aluminium alloy prices in China rose on Wednesday April 28, due to higher production costs and reduced supplies, caused by a month of environmental inspections in Jiangxi province.China's Environmental Protection Inspection Team is conducting checks in Jiangxi until May 7 and many ADC 12 producers there have lowered their output while the checks take place."We heard that producers in Jiangx...Read More
A summary of Canada-headquartered Lundin Mining's output figures for the first quarter of 2021, as stated in its production report published on Wednesday April 28.In brief Lundin's Candelaria mine in Chile, and the Chapada mine in Brazil, increased mill throughput in the first quarter after disruptions reported in the last three months of 2020. Copper production fell year on year due to lower copp...Read More
Visible progress has been made toward network readiness and the availability of 5G telecommunications in the first quarter of 2021, after delays last year resulting from the Covid-19 pandemic, sources have told Fastmarkets.There has been already a significant ramping-up of the uptake of 5G devices so far this year. The Global Mobile Suppliers Association (GSA), in its 5G devices summary for March...Read More
The demand for nickel and cobalt as battery materials for electric vehicles (EV) will keep their long-term bullish fundamentals intact, according to Canadian miner Sherritt International.Over the past six months, numerous carmakers and governments have announced plans for significant investments to expand EV production capacity to meet growing demand, the company said.Sherritt produces nickel plus...Read More
Continued problems with the sourcing of semiconductor chips could start to affect the revenues of Kaiser Aluminum's automotive unit in the second half of the year, the semi-fabricated speciality aluminium producer has warned.The United States-based company has experienced slight delays in some automotive application programs in the first quarter of the year, it said on Thursday April 29, mainly du...Read More
Turkish steelmakers took a break from deep-sea scrap purchases to monitor conditions in the finished steel markets on Thursday April 29, ahead of a 17-day coronavirus lockdown, sources told Fastmarkets.The most recent deep-sea trade was recorded on Wednesday April 28, when a steel mill in northern Turkey was heard booking 22,000 tonnes of HMS 1&2 (80:20) from the Baltic Sea at $432 per tonne cfr.T...Read More
Fastmarkets' daily indices for domestic hot-rolled coil were broadly flat on Thursday April 29 due to lack of actual offers while producers held back volumes for the spot market, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?988.33 ($1,194.67) per tonne on Thursday, up by just ?,?0.83 per tonne from ?,?987.50 per ton...Read More
Export prices for scrap from Japan were largely stable over the past week due to the country's upcoming "Golden Week" holiday, sources told Fastmarkets this week.The holiday runs from April 29 to May 5 this year, with market participants not fully in the spot market during the period.Key market participants said many Japanese shippers were keeping offers unchanged ahead of the holiday and not enga...Read More
Seaborne iron ore prices decreased on Thursday April 29 due to the depressed market sentiment following China's steel export rebate rates cut and less trading activity before the Labor Day holiday in China from May 1-5, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $191.60 per tonne, down $0.92 per tonne62% Fe low-alumina fines, cfr Qingdao: $193.43 per tonne, down $0.80 per...Read More
Sentiment in China's imported ferrous scrap market turned bullish on Thursday April 29, after the country's Ministry of Finance officially announced that the new tax regime for ferrous raw materials would start on Saturday May 1.According to the document published by the Ministry of Finance, there will be no import tariffs for steelmaking raw materials such as recycled steel, pig iron, crude steel...Read More
Seaborne premium hard coking coal prices were largely stable in both the cfr and fob markets on Thursday April 29, with the cfr market in tight supply of seaborne coking coal amid limited buying interest in the fob market due to the Covid-19 spread in India, market sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $112.78 per tonne, up $0.57 per tonnePremium hard coki...Read More
A summary of production figures and financial results from Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) in the first quarter of 2021, as stated in its earnings report published on Wednesday April 28.In brief Production from the No2 blast furnace (BF), which was reignited in November last year, normalized throughout the quarter and boosted steel slab output, the company said. Sales to...Read More
Demand for steel rebar in Egypt should increase soon after the new construction regulations come into effect on May 1, sources told Fastmarkets on Thursday April 29.The Egyptian Ministry of Local Development announced that it will allow new building permits from May 1 onward, sources told Fastmarkets.The permits will be provided until June 30 as part of a trial period and after the trial, the mini...Read More