Export prices for Brazil-origin slab have increased amid high offers to the United States, where demand for the semi-finished steel is strong and flat steel prices are near record highs.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $850-870 per tonne on Friday April 9, up by 8.18% from $780-810 per tonne the previous week. Early in the week, compan...Read More
Major global steel scrap markets have started to level off in recent days following sharp increases in the preceding few weeks.High supply hits Turkish import market again US export prices rise in sales to Turkey Vietnamese import prices keep rising despite calmer steel markets Chinese buyers re-enter market for bulk cargoes at higher prices Taiwan import prices stabilize following recent rises In...Read More
Aluminium primary foundry alloy (PFA) premiums in Europe surpassed their all-time highs on Friday April 9, while the US premium soared to its highest level in nearly 21 months.EuropePremiums for aluminium primary foundry alloy hit their highest levels since Fastmarkets started tracking the market in 2015, bolstered by rising P1020 premiums and logistical complications that have forced growing numb...Read More
Base metal futures prices roundly dropped day on day on Friday trading in London but ended largely higher than the week while markets continue to digest mixed news out of China and the United States.At $2,264 per tonne, the three-month aluminium price was down by 0.94% against Thursday's 5pm close but was up 1% against Tuesday's market open of $2,240 per tonne.The three-month copper price closed a...Read More
KAZ Minerals will be taken private after acquirer Nova Resources received enough shareholder votes to accept its $5.6 billion offer for the company.As of 1pm on April 9, Nova Resources - a vehicle backed by KAZ Minerals chief executive officer Oleg Novachuk and Kazakhstan's richest man, Vladimir Kim -owned or had had offer acceptances for shares representing 89.17% of the company at 850 pence ($11...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
Copper smelters were still looking for May and June shipments this week, while traders were also actively acquiring copper concentrate in the tightly supplied market, sources told Fastmarkets on Friday April 9.Fastmarkets' copper concentrates treatment charge/ refining charge(TC/RC) index, cif Asia Pacific, dropped to low $20s/2 cents this week for the first time.Smelters in China have been b...Read More
Base metals prices on the London Metal Exchange edged lower during morning trading on Friday April 9 in low-volume trading conditions. The three-month copper price dropped back below $9,000 per tonne this morning, down by $60.50 per tonne to $8,947.50 per tonne.The red metal hit a two-week high of $9,104 on Monday but there have been steady deliveries of copper into LME warehouses over the past fe...Read More
Base metal stocks in Shanghai Futures Exchange-registered warehouses continued to diverge in the week to Friday April 9, with lead inventories rising the most with a 14% increase, while the rest were little changed, according to the exchange's latest stocks report.Lead stocks totaled 52,752 tonnes on Friday, an increase of 6,491 tonnes from 46,261 tonnes a week earlier.Zhejiang Tianchuan warehouse...Read More
Hot-dipped galvanized and pre-painted galvanized iron, or color coated coil, prices in Turkey increased further in the week to Friday April 9, on continuing strong demand in both the domestic and export markets, sources told Fastmarkets.Demand is strong for HDG exports especially in Europe, sources said.Prices for hot-rolled coil - the base product for coated coil - have also been rising.Fastmarke...Read More
Indian mills have increased domestic hot-rolled coil prices for April sales by 3,500-4,500 rupees ($47-60) per tonne on rising international prices of the commodity and tight supply in the domestic market."Mills are not supplying the required quantity to the trade segment which is leading to further increases in HRC prices in the spot market," one market participant said. Fastmarkets assessed ste...Read More
Hot-rolled coil producers in Turkey have started to accept orders for August production this week at increased prices, sources told Fastmarkets on Friday April 9. Prices have increased by at least $30-40 per tonne for hot-rolled coil and $60 per tonne for cold-rolled coil. Market participants said they do not expect price decreases any time soon because producers have already made booking for the...Read More
Automotive manufacturer Volvo Group and Swedish steelmaker SSAB have signed a collaboration agreement for the research, development, serial production and commercialization of the world's first vehicles to be made of fossil-free steel, the companies said on Thursday April 8. Volvo plans to start the production of concept vehicles and components produced from steel made by SSAB using hydrogen this...Read More
A shortage of domestic hot-rolled coil while supply is limited and the prices of overseas material are high are keeping sentiment bullish in the European market, sources told Fastmarkets on Friday April 9.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?896.67 ($1,066.13) per tonne on April 9, up by ?,?1.67 per tonne from ?,?895 per tonne on April 8....Read More
Pig iron export prices from the south of Brazil increased due to new sales during the week to Friday April 9.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $520-525 per tonne on Friday, up by $10-20 from $500-515 per tonne the previous week.One sale...Read More
The United States' pig iron import market remained slow, with booking heard only from Brazil while a stand-off between buyers and suppliers from the Commonwealth of Independent States continued during the week to Friday April 9.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $560-570 per tonne on Thursday, up by $5 per tonne from $555-565 per tonne the previous we...Read More
The price for UK light iron scrap narrowed upward in the week to Friday April 9 as a result of the rising international market in key export destinations, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?145-155 ($199-213) per tonne on Friday, up by ?5 per tonne on the low end of the range from ?140-155 per t...Read More
Prices for shredded steel scrap imported into India and Pakistan rose in the week to Friday April 9 as a result of higher finished steel prices, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $456.38per tonne on Friday, up from $443.30 per tonne on April 1.Deals were heard at $445-450 per tonne and $455 per tonne this week,...Read More
Turkish steel producers continued to book deep-sea scrap cargoes for May shipment on Friday April 9, market sources said.A steel mill in the Iskenderun region booked a Canadian cargo comprising 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded at an average price of $436 per tonne cfr.This compares with a United States cargo sold a day earlier at $438 per tonne cfr on shredded basis.As...Read More
Iron ore prices were mostly stable on Friday April 9 due to weak liquidity in the seaborne market and a downtrend in steel prices, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $173.54 per tonne, up $0.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.01 per tonne, up $0.30 per tonne58% Fe fines high-grade premium, cfr Qingdao: $154.47 per tonne, down $0.31 per tonne65...Read More