A summary of base metals premiums from across the globe for the week to Tuesday April 27.Please click...Read More
Chinese importers have been competing for the best-quality copper scrap, citing concerns over future rises in the procurement cost of raw materials while the price rally continues, Fastmarkets has learnt.Suppliers of top-grade copper scrap in the Asia-Pacific region were selling candy and berry at thin discounts to the price of refined copper, as traded on the London Metal Exchange over the past m...Read More
Here are five Fastmarkets stories you might have missed on Tuesday April 27 that are worth another look.Brazilian iron ore producer Vale expected to see higher premiums for iron ore pellet in the third quarter of this year, after steep increases were applied in both the first and second...Read More
Ferrous prices in Asia are rising at a steady pace and look likely to surpass 2008's high levels as early as next month, industry sources told Fastmarkets this week.Coking coal and cokeSupply tightness in both the domestic and import markets for high-quality, low-sulfur hard coking coal should continue to support prices in May, sources said.Since the start of April, domestic supply shortages have...Read More
Chinese steel mills are likely to import more pig iron, hot-briquetted iron (HBI) and steel scrap to feed basic oxygen furnaces in 2021 due to the stringent restrictions imposed on blast furnaces in China, market participants told Fastmarkets recently.The China Iron & Steel Association (Cisa) is actively advocating more cuts to the country's pig iron production to achieve this year's goal of reduc...Read More
Chinese importers have been competing for the best-quality copper scrap, citing concerns over future rises in the procurement cost of raw materials while the price rally continues, Fastmarkets has learnt.Suppliers of top-grade copper scrap in the Asia-Pacific region were selling candy and berry at thin discounts to the price of refined copper, as traded on the London Metal Exchange over the past m...Read More
The price of nickel on the London Metal Exchange was some $40 per tonne short of the $17,000 per tonne mark at the close of trading on Tuesday April 27, while most other base metals' prices also finished higher day on day, boosted by a recent rise for copper.Nickel's three-month price was up by 1.8% to $16,963 per tonne on Tuesday, after rising by roughly $300 per tonne each day since last Thursda...Read More
Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao, rose to a new record high on Tuesday April 27 with iron ore prices all going up further. The 62% Fe index has been above the previous high of $183.59 per tonne, set in January 2011, since April 20.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $195.31 per tonne, up by $1.73 per tonne62% Fe low-alumina fines, cfr Qingdao: $196.35 pe...Read More
The price of nickel on the London Metal Exchange was some $40 per tonne short of the $17,000 per tonne mark at the close of trading on Tuesday April 27, while most other base metals' prices also finished higher day on day, boosted by a recent rise for copper.Nickel's three-month price was up by 1.8% to $16,963 per tonne on Tuesday, after rising by roughly $300 per tonne each day since last Thursda...Read More
Fastmarkets' daily indices for domestic hot-rolled coil inched further up on Tuesday April 27 due to the continuing shortage in Europe combined with strong demand, sources have told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?973.33 ($1,176.99) per tonne on April 27, up by ?,?2.08 per tonne from ?,?971.25 per tonne on Monday.The in...Read More
Due to a reviewer error, the publication of Fastmarkets' aluminium P1020A premium, ddp Midwest US was delayed on Tuesday April 27.Specifications for the affected price are as follows:MB-AL-0020 Aluminium P1020A premium, ddp Midwest US, US cents/lbQuality: London Metal Exchange specification P1020A or 99.7% minimum Al purity (silicon 0.10% max, iron 0.20% max, zinc 0.03%, gallium 0.04%, vanadium 0....Read More
A summary of Brazilian miner Vale's results for the first quarter of 2021, as stated in its earnings report published on Monday April 26.In brief Vale's realized price for iron ore - considering transactions in both a fob and a cfr basis - increased on rising indices and higher-quality premiums, but was offset by marking prices at lower levels for the quarter and a larger amount of sales on a fob...Read More
A summary of Swedish metals producer Boliden's financial and production results for the first quarter of 2021, as released on Tuesday April 27.In brief Boliden's total operating profit for the first quarter of 2021 was 2,779 million Swedish krona ($331.5 million), down from 3,077 million krona in the last quarter of 2020. In a year-on-year comparison, however, operating profits increased by 1...Read More
Prices for hot-rolled coil in the United States attained a new all-time high for a third consecutive day after market participants said that domestic mills were expected to increase offer prices for what little spot material they will ship in June. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $72.83 per hundredweight ($1,456.60 per short ton) on Tuesday April 27, a...Read More
Politicians in the UK have launched an inquiry into Liberty Steel and the broader steel industry, Fastmarkets has learnt.The Business, Energy and Industrial Strategy Committee, a cross-party group of Members of Parliament (MPs), opened the inquiry on Tuesday April 27.The development came with Liberty Steel's owner, GFG Alliance, still under financial pressure due...Read More
The flat steel import market in the United Arab Emirates and Saudi Arabia was slow in the week to Tuesday, April 27, with some prices edging down while others nudged up, sources told Fastmarkets.The weak demand was due working hours being reduced in both countries during the Islamic holy month of Ramadan, which started on the evening of April 12.In addition, most buyers said the current price leve...Read More
Prices for steel billet and rebar were mostly stable in the United Arab Emirates during the week to Tuesday April 27 because of weak demand during the Islamic holy month of Ramadan, sources told Fastmarkets.Working hours are reduced during Ramadan and the month is traditionally a period of low trading activity for the Middle East region, Fastmarkets understands.Rebar producers in the UAE...Read More
Ferrous prices in Asia are rising at a steady pace and look likely to surpass 2008's high levels as early as next month, industry sources told Fastmarkets this week.Coking coal and cokeSupply tightness in both the domestic and import markets for high-quality, low-sulfur hard coking coal should continue to support prices in May, sources said.Since the start of April, domestic supply shortages have...Read More
China's domestic rebar prices stopped rising on Tuesday April 27 because buying interest dropped after Monday's price hike, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,200-5,230 yuan ($802-806) per tonne, unchangedEnd users felt it was difficult to keep high procurement rates at their current prices and they bid lower, a trader in Shanghai said. Sellers maintained prices because t...Read More
China's domestic hot-rolled coil prices edged closer to record highs last seen in July 2008 on Tuesday April 27 amid sustained measures to control emissions in the country's northern region.DomesticEastern China (Shanghai): 5,760-5,800 yuan ($888-894) per tonne, up 20 yuan per tonneSpot sellers in Shanghai offered cargoes at 5,780-5,800 yuan per tonne in the morning but lowered these to 5,760-5,78...Read More