Hot-rolled coil prices in the United States have soared above $72 per hundredweight ($1,440 per short ton), setting another historic high, with market participants expecting additional price increases due to continuing tight spot supply.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $72.67 per cwt ($1,453.40 per ton) on Monday April 26, up by 1.37% from $71.69 per cw...Read More
Liberty Steel Dudelange-Liege has been canceling orders and shipments to customers that had agreed deals for cold-rolled coil and hot-dipped galvanized coil, sources have told Fastmarkets.Liberty Dudelange-Liege comprises three production sites - at Fl?(C)malle and Tilleur in Belgium and at Dudelange in Luxembourg - each producing cold-rolled coil, HDG and tinplate."[Liberty Steel] has canceled or...Read More
The Commonwealth of Independent States (CIS) export rebar and wire rod prices increased over the week to Monday April 26 after customers accepted higher levels in recent sales, sources said.A strong domestic market in Russia rendered support to local producers, which, therefore, increased their asking prices for long steel products abroad, Fastmarkets heard.In the middle of last week, one Russia-b...Read More
German steelmaker Salzgitter has upwardly revised its full-year forecast for 2021 after posting positive preliminary results for the first quarter due to improving steel market fundamentals.In its preliminary first-quarter report, published on Friday April 23, Salzgitter said it expected pre-tax profits of ?,?117.30 ($141.90) million, "thereby exceeding current market expectations" - a signif...Read More
Algerian Qatari Steel (AQS) is planning to export 300,000 tonnes of steel billet by the end of the third quarter of 2021, a source from the company told Fastmarkets on Monday April 26.The company loaded 10,000 tonnes of billet to be exported to Syria earlier this week and will load another cargo of around 10,000 tonnes next week to be exported to Europe,...Read More
The Turkish deep-sea scrap import market was quiet on Monday April 26, with sources reporting there were still suppliers with cargoes available for June shipments.The most recent deep-sea transactions were heard on Wednesday April 21, when two Baltic Sea suppliers secured bookings at $426-427 per tonne cfr on a heavy melting scrap 1&2 (80:20) basis, while a European supplier sold a mixed cargo at...Read More
Turkish domestic scrap prices have remained fairly stable over the past seven days, with most mills keeping their buy prices unchanged week on week, market participants said on Monday April 26.Long steel producers in the Izmir region continued to buy domestic auto bundle and ship scrap at stable prices over the past seven days.Only two mills in the Marmara region cut...Read More
A cargo of 62% Fe Brazilian Blend iron ore fines was traded on Monday April 26 at a price of $194.40 per tonne cfr China on a trading platform, a record high since Fastmarkets' index for 62% Fe low-alumina fines, cfr Qingdao, was introduced in August 2018.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $193.58 per tonne, up by $7.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $194.40 pe...Read More
As the current surge in coronavirus cases in India takes hold, Fastmarkets looks at the possibility that the steel industry could lose its impressive growth.New cases of coronavirus in India have surpassed 350,000 per day and steel plants in the country have been supplying liquid medical oxygen (LMO) to hospitals because of the ongoing shortage of available oxygen. Diverting supplies of oxygen awa...Read More
Seaborne premium hard coking coal prices climbed up in both the cfr and fob markets on April 26 Monday, with Fastmarkets' premium hard coking coal index at a three-year high point of $221.61 per tonne cfr Jingtang, China on April 26, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.78 per tonne, up $0.64 per tonnePremium hard coking coal, cfr Jingtang: $221.61 per tonne, up...Read More
Prices for seaborne iron ore pellets and concentrate surged in the week ended Friday April 23 due to strong demand for high-grade products amid ongoing measures to cut emissions in China and supply concerns due to India's deteriorating Covid-19 situation.Fastmarkets iron ore indices65% Fe blast furnace pellet, cfr Qingdao: $252.38 per tonne, up $21.26 per tonne.66% Fe concentrate, cfr Qingdao: $21...Read More
China's domestic hot-rolled coil prices surged on Monday April 26 to reach their highest since July 2008, after local authorities in Tangshan, the country's steelmaking hub in the northern region, ordered steelmakers to limit production rates to curb emissions until Tuesday.DomesticEastern China (Shanghai): 5,740-5,780 yuan ($884-890) per tonne, up 150-170 yuan per tonneSeveral Shanghai-based trad...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 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.Read More
China's magnesium prices increased by about 9% in both the domestic and export markets in the week to Friday April 23, with producers raising their offers amid low inventories, market sources told Fastmakets.In the domestic market, Fastmarkets' weekly price assessment for magnesium 99.9%,exw China was 17,000-17,100 yuan ($2,617-2,632) per tonne on Friday April 23, an increase of 1,400 yuan per ton...Read More
Key data from Fastmarkets' pricing session in China on Friday April 23.Key drivers China's cobalt metal price slumps amid weakness in local futures; buyers sent more inquiries, but were still cautious in buying on expectations that prices could fall further. Chinese cobalt tetroxide price narrowed downward on subdued demand; buyers were unwilling to accept higher...Read More
Metal companies transporting material in containers are facing fresh disruption to shipping following the blockage of the Suez Canal last month, sources told Fastmarkets. The main immediate legacy of March's Suez Canal obstruction has been worsening congestion at several global ports following major disruptions to vessel scheduling. These delays to shipping times have also exacerbated shortag...Read More
Copper is once again pushing ahead with its advance toward $10,000 per tonne this morning, Tuesday April 27, and such is the upward momentum now across most of the complex that it has woken nickel up from its two-month slumber in low ground.* Market focused on economies that are recovering...* ...less so on the areas where Covid-19 is ragingBase metalsMost of the LME three-month base metals prices...Read More
Splunk (SPLK), a NASDAQ 100 stock moved below $130.55 extending an intermediate downtrend.Pre-opening Comments for Tuesday April 27thU.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Tesla (TSLA) dropped $16.00 to $722.20 despite reporting higher than consensus first quarter revenues and earnings. NXP Semiconductors (NXPI) added $3.10 to...Read More
Here are five Fastmarkets stories you might have missed on Friday April 23 that are worth another look.Global aluminium manufacturer and recycler Novelis has achieved Aluminium Stewardship Initiative (ASI) Performance Standard certification at seven of its European sites, ASI reported on Thursday April 22.Brazil's...Read More