The price of austenitic stainless steel scrap in the UK and Europe moved higher over the past seven days on the back of rising nickel costs in first half of the week, sources told Fastmarkets on Friday March 26.Nickel prices retreated in the second half of the week, however, wiping out most of the gains and halting the upward momentum in the stainless scrap market. Nonetheless, Fastmarkets' weekly...Read More
Chinese copper and zinc smelters are now finding the sulfuric-acid price hike had provided some breathing room as a key source of income while processing fees for concentrate both sank to multi-year low levels, Fastmarkets understands.The sale of sulfuric acid - a major by-product of copper and zinc smelting - has been generating more cash for smelters, with acid prices increasing substantially in...Read More
The London Metal Exchange three-month aluminium price reached a new year-to-date high of $2,301 per tonne shortly before 5pm on Friday March 26 and was the only metal to record an increase from the start of the week. A surge in aluminium trading on Friday afternoon took the price to its highest since June 12, 2018, at the height of the US trade tensions. The price hit a peak of $2,353 per tonne in...Read More
The waiting time for deliveries of aluminium from London Metal Exchange warehouses in Port Klang, Malaysia, is estimated to be as far out as to September or October after a series of large cancellations, sources told Fastmarkets on Friday March 26. Over the past two weeks, 513,000 tonnes of aluminium have been canceled at warehouses in Port Klang. including over 190,000 tonnes on single day o...Read More
Seaborne premium hard coking coal price reversed down in the cfr market and inched higher in the fob market on Friday March 26 amid a positive outlook on the demand side in the fob market, sources said.The seaborne low-volatility pulverized coal injection price increased in the fob market amid more procurement activity while falling down in the cfr market due to weak demand and sufficient local su...Read More
Domestic prices for hot-rolled coil in Europe were up day on day on Friday March 26, with ArcelorMittal further increasing its offer prices, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil (HRC) index, domestic, exw Northern Europe at ?,?835.00 ($985.09) per tonne on Friday March 26, up by ?,?13.33 per tonne from ?,?821.67 per tonne on March 25.The index was also up...Read More
The spot price for light iron steel scrap in the United Kingdom was steady during the week to Friday March 26, stabilizing losses from last week amid firm fundamentals in the domestic market, sources told Fastmarkets.A sharp fall in European steel scrap export prices seen on Thursday may be short-lived, according to sources, with a pick-up seen the next day in steel rebar buying inquiries into Sou...Read More
The London Metal Exchange three-month aluminium price reached a new year-to-date high of $2,301 per tonne shortly before 5pm on Friday March 26 and was the only metal to record an increase from the start of the week. A surge in aluminium trading on Friday afternoon took the price to its highest since June 12, 2018, at the height of the US trade tensions. The price hit a peak of $2,353 per tonne in...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
Key data from Fastmarkets' pricing sessions on Friday March 26 in the Asia-Pacific region.Fastmarkets' copper concentrates treatment charge/refining charge (TC/RC) index, cif Asia-Pacific, resumed its downtrend this week after a slight rebound in mid-March.This was the third week the TC index has remained below the level of $30 per tonne.Smelters were less...Read More
Alumina prices on an fob Australia basis declined to their lowest level since November 2020 on Friday March 26, with oversupply of units continuing to stoke bearishness.Fastmarkets' alumina index, fob Australia was calculated at $274.50 per tonne on Friday, down by $5.57 from $280.07 per tonne the previous day. The index has dropped 5.1% since the start of the week when the index was at $289.09 pe...Read More
The waiting time for deliveries of aluminium from London Metal Exchange warehouses in Port Klang, Malaysia, is estimated to be as far out as to September or October after a series of large cancellations, sources told Fastmarkets on Friday March 26. Over the past two weeks, 513,000 tonnes of aluminium have been canceled at warehouses in Port Klang. including over 190,000 tonnes on single day o...Read More
Chinese copper and zinc smelters are now finding the sulfuric-acid price hike had provided some breathing room as a key source of income while processing fees for concentrate both sank to multi-year low levels, Fastmarkets understands.The sale of sulfuric acid - a major by-product of copper and zinc smelting - has been generating more cash for smelters, with acid prices increasing substantially in...Read More
Deliverable lead stocks in Shanghai Futures Exchange-registered warehouses fell by 15.8% during the week to Friday March 26, while inventories of other base metals showed minimal movement, according to the exchange's latest stocks report.Lead stocks dropped by 7,984 tonnes to 42,672 tonnes, compared with 50,656 tonnes the previous week.The largest outflow was recorded at warehouses run by Zhejiang...Read More
Hot-rolled coil prices in the United States have held above $66 per hundredweight ($1,320 per short ton), although buyers remain wary of importing.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $66.17 per cwt ($1,323.40 per ton) on Friday March 26, up slightly from $66.12 per cwt on Thursday March 25 and 1.83% higher than $64.98 per cwt the week before.Fresh inputs w...Read More
Indian hot-rolled coil export prices have increased by $30-35 per tonne during the week to Friday March 26 on continued demand from South East Asian countries.Fastmarkets' assessment of steel hot-rolled coil (commodity) export, fob main port India was $790-800 per tonne on Friday, an increase of $30-35 per tonne from $760-765 per tonne last week.The assessment was based on indicative offers from.....Read More
Hot-dipped galvanized (HDG) and pre-painted galvanized iron, or color coated coil, prices in Turkey increased by $15-50 per tonne during the week to Friday March 26, with more increases expected, sources told Fastmarkets.Market sources expect more price increases because of strong demand in both the local and export markets, as well as increasing production costs.Prices for hot-rolled coil (HRC) -...Read More
Flat steel prices increased further on strong demand during the week to Friday March 26, even as scrap prices decreased, sources told Fastmarkets.Hot-rolled coil producers in Turkey were accepting orders to be produced in late July, and cold-rolled coil was offered for July and August.Several import deals were heard during the week from Russia.There were no new offers from China, which has been an...Read More
The domestic steel rebar market in Poland was static over the week to Friday March 26 amid slow buying, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland was 2,900-2,930 ($738-746) zloty per tonne on Friday, the same as seven days earlier.Rebar was heard traded in the secondary market at about 2,900-2,910 zloty per tonne delivered...Read More
Deep-sea scrap import prices in Turkey plunged this week but a recovery in rebar exports was expected to bring support to the market soon, while markets in Asia, apart from China, have already felt the revival.Scrap exporters in the United States, however, were lowering their buy prices during the working week from Monday March 22 to Friday March 26. Turkish import prices crash, but set to recover...Read More