Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday February 19.China Low-grade seaborne manganese ore prices inched higher on a cif basis amid improved supplier sentiment due to rising logistics costs and the stronger South African rand, which reduces miners' netback in local currency.A steep rise in freight rates widened the gap between...Read More
Copper traders are starting to place bets that the metal will hit $12,000 per tonne by December but market makers say bullishly positioned options are dragging the metal's price higher sooner than that. Targeting March expiry, traders have placed 1,970 lots of call options at $9,000 per tonne on the London Metal Exchange, giving the holder the right to buy the metal if that level is hit; a further...Read More
An overview of the aerospace materials markets and their latest price moves.Ewa Manthey and Michael Greenfield in...Read More
An overview of the new energy materials markets and their latest price moves. Susan Zou and Sybil Pan...Read More
Ferrous scrap prices in the key global markets have gone up in the week to Friday February 19 with stronger steel demand following the return of market participants from China's Lunar New Year holiday.Turkish steel mills resumed their deep-sea scrap purchases at higher pricesUS ferrous scrap exporters seek higher pricesPost-holiday rebound in steel trade drives up scrap import prices in VietnamUpt...Read More
The cost of austenitic alloy steel scrap in the UK and Europe increased again over the past week on higher nickel costs, sources told Fastmarkets on Friday February 19.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,150-1,200 ($1,601-1,670) per tonne on Friday, an increase of ?20 per tonne week on...Read More
Prices for shredded steel scrap imported into India and Pakistan continued to move upward in the week to Friday February 19 on tight supply and challenging shipping conditions, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $430.86 per tonne on Friday, up from $415.11 per tonne one week earlier.Two deals were heard this wee...Read More
A summary of Canadian base metals miner Hudbay Minerals' results for the fourth quarter and full year of 2020. Summary: The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for 2020 decreased by 14.4% to $306.7 million from 2019's full year figure of $358.5 million. This was despite adjusted Ebitda in the fourth quarter growing by 30% year on y...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds - namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic response a...Read More
New structures to lithium contracts will provide more flexibility to raise prices in response to improving market conditions, United States-based lithium producer Albemarle said during an earnings call on Thursday February 18.The call followed the release of the company's full-year and fourth-quarter financial results for 2020.Eric Norris, the company's president of lithium operations, said that n...Read More
China's domestic lithium carbonate price increased by 4.4% over the week to Thursday February 18 supported by tight supply in the spot market, while the Asian seaborne lithium hydroxide market moved up for the first time in five months influenced by China's price upturn.China's domestic battery-grade lithium carbonate market continued its uptrend supported by spot material shortage, although buyin...Read More
Mexican integrated steelmaker Altos Hornos de M?(C)xico (Ahmsa) said it was able to partially resume operations on Friday February 19 after being forced to stop output at its steel unit and its coal and iron ore mines due to a shortage of fuel and energy. Ahmsa secured most of the energy supply needed by its mining and steel units and was able to re-establish gas supply at 50% of the normal p...Read More
Hot-dipped galvanized (HDG) coil producers in Turkey increased their prices during the week to Friday February 19 on strong demand, sources told Fastmarkets.The main reason for the increasing prices was that high level of demand, but there were also rising prices for hot-rolled coil base material.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey, was $750-770 per...Read More
The domestic steel rebar market in Poland has been "frozen" over the past week due to a slowdown in end-user demand amid bad weather conditions, but with a rebound expected in March, sources told Fastmarkets on Friday February 19.Construction activity in Poland has been very slow over the past fortnight due to the weather, and this has had the expected negative effect on rebar demand, sources said...Read More
China's domestic rebar prices rose further on Friday February 19 albeit at a slower pace amid low trading activity. DomesticEastern China (Shanghai): 4,470-4,500 yuan ($692-696) per tonne, up by 20 per tonne Northern China (Beijing) - weekly assessment: 4,330-4,370 yuan per tonne, up by 210-220 per tonne from February 5 More sellers returned to work during the day, but end users are still on holid...Read More
Ferrous scrap prices in the key global markets have gone up in the week to Friday February 19 with stronger steel demand following the return of market participants from China's Lunar New Year holiday.Turkish steel mills resumed their deep-sea scrap purchases at higher pricesUS ferrous scrap exporters seek higher pricesPost-holiday rebound in steel trade drives up scrap import prices in VietnamUpt...Read More
The cost of austenitic alloy steel scrap in the UK and Europe increased again over the past week on higher nickel costs, sources told Fastmarkets on Friday February 19.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,150-1,200 ($1,601-1,670) per tonne on Friday, an increase of ?20 per tonne week on...Read More
The pig iron import market in the United States improved during the week to Friday February 19 on a bullish attitude among suppliers.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $510-520 per tonne on Friday, widening upward from $510 per tonne a week earlier.One large pig iron buyer purchased a cargo for April shipment from...Read More
Prices for secondary steel billet in India surged by 3,600 rupees ($49) per tonne in the week to Friday February 19 on increased demand across the country and the likely continuation of power shortages in central India's major hubs for secondary steelmaking.Fastmarkets' price assessment for steel billet, domestic, ex-works India, was up on Friday to 37,400-37,600 rupees ($514-517) per tonne compar...Read More
Export offers for billet from the Commonwealth of Independent States picked up again by the end of the week amid positive sentiment in the market. Import scrap prices in Turkey have continued to grow, and - along with an expected rise in semi-finished and long steel prices in China after the Lunar New Year holidays - was the main factor for the optimistic mood of CIS suppliers. Fastmarkets' daily...Read More