Brazilian slab and hot-rolled coil producer ArcelorMittal Tubar??o expects to resume operations at its hot-strip mill this week, after the equipment was put under maintenance on Monday March 8."ArcelorMittal Tubar??o informs a stoppage occurred in its hot-strip mill on March 8, 2021, with no impact on safety. The equipment is under maintenance, aiming to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 16.Read More
Prices for No1 busheling steel scrap in Mexican main markets increased in the week ended on Friday March 12, while upward pressures grew for other grades as well.Buyers continued to increase prices for prime scrap to secure volumes. In rare cases, the material was heard trading above 10,000 pesos ($473) after the second consecutive week of strong buying activity.Prices of obsolete grades, suc...Read More
Domestic prices for hot-rolled coil in Northern Europe have been supported by a material shortage in the market, sources told Fastmarkets on Tuesday March 16.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?792.50 ($943.31) per tonne on March 16, up by just ?,?1.25 per tonne from ?,?791.25 per tonne on Monday March 15.The index was also up by ?,?36....Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 16 that are worth another look.Russian metallurgical coal producer Sibanthracite Group intends to ship more than 1 million tonnes of coal in Capesize-class vessels from the Black Sea port of Taman in 2021, it said on March 15.Treatment and refining...Read More
When considering the prospects for the new Shanghai International Energy Exchange (INE) copper contract, a senior executive at one of the world's largest metals trading companies quoted Hamlet's soliloquy in the Shakespearian play of the same name."In terms of promotion of the internationalization of the renminbi and weakening of the pricing power of the [London Metal Exchange] and CME: 'To be or...Read More
Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarkets' copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time.The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks.TC/RCs, which are discount...Read More
The prices of lead, zinc and copper showed the steepest declines on the London Metal Exchange at the close of trading on Tuesday March 16, with the US Dollar Index at its highest for a week at 91.91 and the market braced for a US Federal Reserve policy announcement on Wednesday."Market attention will turn to the US Federal Reserve's two-day policy meeting, which will conclude on March 17. The gene...Read More
Cancellations of aluminium out of London Metal Exchange warehouses in Port Klang, Malaysia, have begun, after more than 600,000 tonnes was delivered over the past week.About 85,000 tonnes were shown as freshly canceled on March 16, with 83,850 tonnes of that at Port Klang and additional, small cancellations in Johor and Singapore.Market participants told Fastmarkets they believe big queues could b...Read More
Three-month base metals prices on the London Metal Exchange were down across the board during morning trading on Tuesday March 16, with tin's price falling the most to $24,630 per tonne - this after the complex mostly ended in positive territory on Monday. "A slew of macro releases out of China also buoyed sentiment [on Monday]. In this regard, China's industrial output rose 35% in the first two m...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view. This month's key North American steel forecast highlights: US hot-rolled coil prices continued to move in line with our forecasts in February, although actual prices again modestly exceeded our forecasts. Domestic HRC prices averaged $1,194 per ton in February, exceeding our forecast price of $1,150 per ton for the month. U...Read More
Export prices for steel billet in the Black Sea basin have continued to soften in mid-March amid a lack of trading activity, Fastmarkets has heard.Customers preferred to refrain from billet bookings while the costs for steel scrap and finished long steel products were falling.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $430.63 p...Read More
The prices of lead, zinc and copper showed the steepest declines on the London Metal Exchange at the close of trading on Tuesday March 16, with the US Dollar Index at its highest for a week at 91.91 and the market braced for a US Federal Reserve policy announcement on Wednesday."Market attention will turn to the US Federal Reserve's two-day policy meeting, which will conclude on March 17. The gene...Read More
Treatment and refining charges for copper concentrate fell again to new 10-year-lows in the week ended Friday March 12, with Fastmarkets' copper concentrate index dropping to less than $30 per tonne/3 cents per lb for the first time.The spot market has been in a prolonged downtrend since 2014, but a recent bout of tightness has seen terms dip by 27% in the past two weeks.TC/RCs, which are discount...Read More
Fastmarkets has amended the frequency of its assessment of two lead ingot premiums for Southeast Asia.After a month-long consultation, which ended on March 12, Fastmarkets has altered the frequency of assessment of the two premiums from bi-weekly to monthly.Monthly assessment of these prices will start from Tuesday March 16, 2021. The assessments affected are:MB-PB-0107 Lead 99.97% ingot premium,...Read More
The world's largest producer of high-grade nickel expects to restore full capacity at its flooded mines in Siberia in the next 3-4 months but revised its metal production volumes to reflect the mining halt, it said on March 16.Nornickel's Oktyabrsky and Taimyrsky mines have been closed since February 24 following an inflow of groundwater into the two mines. The nickel production shortfall should b...Read More
Cancellations of aluminium out of London Metal Exchange warehouses in Port Klang, Malaysia, have begun, after more than 600,000 tonnes was delivered over the past week.About 85,000 tonnes were shown as freshly canceled on March 16, with 83,850 tonnes of that at Port Klang and additional, small cancellations in Johor and Singapore.Market participants told Fastmarkets they believe big queues could b...Read More
A summary of Antofagasta's financial results for the full year of 2020, as stated in its preliminary results, and its production guidance for 2020, as per a company report published on Tuesday March 16.Financial results - in brief: Antofagasta's revenue in 2020 was $5.1 billion, an increase of 3.3% from 2019, which the company attributed to "increases in copper and gold realised prices, partially...Read More
Flat steel import prices to the United Arab Emirates and Saudi Arabia continued to increase sharply while buyers were hesitant to make bookings because they were uncertain if prices would stay high, sources told Fastmarkets on Tuesday March 16."The market is not absorbing the price increases until now but if the increases continue like this, there would be no other option than to accept," one trad...Read More