A summary of Alumina Ltd's full-year 2020 results for the period ending on December 31, 2020.The results also include the 2020 results for Alcoa World Alumina & Chemicals (AWAC), 40%-owned by Alumina Ltd and 60% owned by Alcoa.In brief Alumina Ltd recorded a net profit after tax of $146.6 million for 2020, compared with $214 million in 2019. Excluding significant items, net profit would have been...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
China's auto output and sales gained year on year in January due to the government's continuous efforts to control the Covid-19 pandemic, which helped support the prices of metal raw materials, Fastmarkets understands.The country produced 2.388 million units of vehicles in January, up by 34.6% from a year ago, China Association of Automobile Manufacturers (CAAM) data shows.China's automotive sales...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More
Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed, although copper prices on both exchanges remain strong this morning, Tuesday February 23, while tightness on the LME dominates. There are cross currents flowing through the market; sentiment is strong while people look forward to a super-charged economic recovery once vaccines allow a return to a more normal...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Hot-rolled coil prices in the United States have risen yet again to an all-time high after buyers perceived that the tight availability of spot material likely will not loosen up before domestic mills begin a series of maintenance outages.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.17 per hundredweight ($1,223.40 per short ton) on Tuesday February 23, an incre...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
The steel billet and rebar markets in the United Arab Emirates remained quiet in the week to Tuesday, February 23, with buyers expecting prices to increase, sources told Fastmarkets."If the prices will increase is not the question," a trader said, "[but rather] by how much will prices increase?" Rebar producers in the UAE are expected to announce new prices soon and buyers have been in wait-a...Read More
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Steel scrap prices in Mexico resumed their downtrend in the week ended Friday February 19, especially in obsolete grades, with deals reported at lower prices because of energy and gas shortages in the country.A wide range of price cuts were reported, depending on volumes and grades. Most market participants saw price reductions of 300-600 pesos ($15-29) per tonne during the week, while some buyers...Read More
Turkish deep-sea scrap import prices have continued to strengthen in line with increased demand and rising freight costs, market sources said on Tuesday February 23.The most recent transaction was on February 20, when a steel producer in northern Turkey booked a US cargo at prices of $440 per tonne for shredded and $445 per tonne cfr for bonus.The transaction raised the daily scrap indices by more...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 23 that are worth another look.A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on February 23.Industry association Verband Deutscher Metallh??ndler (VDM)...Read More
Export prices for steel billet from the Commonwealth of Independent States surged on Tuesday February 23, with several cargoes sold at higher prices to Turkey.Turkish customers accepted price increases for billet because of the continuing uptrend in the sector, based on import scrap and local billet prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turk...Read More
A sustained rally in oil prices has contributed to a recent spike in freight rates for bulk shipments of steel products, sources told Fastmarkets on Tuesday February 23.Brent crude oil prices have risen by 74.5% since late October 2020 and even surpassed $65 per barrel on February 22, making the fueling of a vessel an increasingly expensive task.Waning bulk vessel availability is exacerbating the...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) expects one more domestic price increase for March, after raising prices by around 15% in February, commercial director Luis Martinez said on Tuesday February 23.The expected increase will be mostly aimed at hot-rolled and cold-rolled coil, with the company remaining cautious about competition with coated steel imports. Martinez forecast a...Read More