The import pig iron import market in the United States was firm during the week to Friday February 12 on new bookings of Russian and Brazilian material. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $510 per tonne on Friday, narrowing from $500-520 per tonne a week earlier.One large pig iron buyer purchased a...Read More
The aluminium primary foundry alloy (PFA) premium in the United States climbed to an 18-month high on Friday February 12, while the premium in Eastern Europe also firmed on tight supply despite thin liquidity.United StatesFastmarkets assessed the aluminium primary foundry alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest at 9-11 cents per lb on Friday, up by 8.1% from 8.5-10 cents...Read More
Chile-based producer Mantos Copper has secured a total of $846.6 million to finance its Mantoverde project in the South American country into production.The finance package includes $275 million in equity from Mitsuibishi Materials, in return for a 30% shareholding in the project, which is scheduled to produce 110,000 tonnes per year of copper from 2023 to 2030.Read More
An overview of the new energy materials markets and their price moves from the past week. Read More
Zinc's price rose the most in the London Metal Exchange base-metals complex in the week to Friday February 12, with all metals showing weekly increases of 2% or more, and with new year-to-date highs for copper, lead, aluminium and tin during the day.Zinc's three-month price rose by 7% throughout the week, closing at 5pm on Friday at $2,834.50 per tonne, its highest since January 8.The galvanizing...Read More
China's copper traders did not want to wait until after the week-long holidays to buy the metal.Wednesday February 10 saw a raft of orders in the London Metal Exchange overnight market, sending volumes well over regular levels as Chinese institutions and traders sought to lock positions ahead of the Lunar New Year.The injection saw copper's price trade at fresh eight-year highs over $8,300 per ton...Read More
Fastmarkets will publish inferred low-carbon midpoint calculations for some aluminium P1020A and value-added product (VAP) markets in line with the launch of the low-carbon aluminium differentials. The low-carbon aluminium differentials are being launched following a two-month market consultation. An inferred number is a calculation using existing Fastmarkets numbers. The new inferred prices will...Read More
Copper concentrate treatment and refining charges (TC/RCs) dropped further into Fastmarkets' record lows, with the market pricing spot cargoes at slimmer discounts to London Metal Exchange prices ahead of the Lunar New Year holidays. Fastmarkets' benchmark copper concentrates TC/RC index, cif Asia Pacific settled at $36.20 per tonne / 3.62 cents per lb on Friday February 12, down from $37 per...Read More
Import prices for flat-rolled steel products edged upward in South America during the week to Friday February 12 with deals settled at prices a little higher than previously, in the absence of Chinese exporters from the market.Offers from China were scarce ahead of the Lunar New Year holiday, February 11-17. But some traders were still trying to sell a remainder of April-shipment cargoes from the...Read More
Flat steel producers in Brazil have applied a new price rise to distributors of 15% on all grades of material, after earlier price increases in January, sources told Fastmarkets on Friday February 12.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, reached 5,848-5,858 Reais ($1,087-1,088) per tonne on Friday, up by 15% from 5,080-5,100 Reais per tonne...Read More
Buyers of flat steel in Turkey held back from making purchases this week, largely because of uncertainty over the direction of prices caused by rising scrap values while China is away for its New Year holiday, sources told Fastmarkets.Demand was only moderate during the week because stock levels were high. they added."The steel sector is like a bus. The driver is China, and half of the passengers...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up day on day on Friday February 12 due to good demand and long lead times, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?720.00 ($873.17) per tonne on Friday, up by ?,?3 per tonne from ?,?717 per tonne on February 11.The index was also up by ?,?10 per tonne we...Read More
Indian secondary billet prices were supported higher in the week to Friday February 12 by increased demand and a resurgence in prices of finished products. The Indian secondary billet market had been slipping since the second week of January, before rising by around $15 per tonne in the latest assessment period. Fastmarkets' price of steel billet domestic, ex-works India was up by 1,100 rupee...Read More
Global prices on the key scrap markets have rebounded in the working week to Friday February 12 after Turkey returned to the market to book cargoes at higher prices.Turkey returns to market at higher pricesUS market ends two-week dry spellTaiwanese importers look for material on market reboundIndian prices boosted by Turkey's return to market.TurkeyTurkish mills did not return to the deep-sea mark...Read More
Brazil's pig iron export market softened during the week to Friday February 12 on lower bookings from the United States.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $470 per tonne on Friday, down by $10 per tonne from $480 per tonne a week before.A new sale was heard to the US...Read More
The cost of austenitic alloy steel scrap in Europe increased during the week to Friday February 12 because of higher nickel costs and an ongoing shortness of supply, sources told Fastmarkets.Fastmarkets' weekly price assessment of stainless steel scrap 18/8 solids domestic, delivered merchants UK was ?1,130-1,180 ($1,562-1,631) per tonne on Friday, an increase of ?30 per tonne week on week from...Read More
The price of shredded steel scrap imported into India and Pakistan moved up in the week to Friday February 12 with sentiment turning positive, sources have told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $415.11 per tonne on Friday, up from $408.73 per tonne one week earlier.Several deals were heard for shredded material at the star...Read More
A summary of Swedish state-owned iron-ore producer LKAB's financial results for the fourth-quarter and the full year 2020. In brief Improved demand for both steel and for iron ore in the fourth quarter 2020 in the EU and Middle East and North Africa (MENA) had a positive effect on LKAB's deliveries to Europe.EU steelmakers have increased production and brought back idled capacity, although the ma...Read More
The price range for UK-origin light iron scrap fell for the fourth week in a row in the period to Friday February 12, with British scrap export prices having been persistently low in the past few weeks.But a market bottom may have been reached because European export prices to the key destination of Turkey recovered late in the week, sources told Fastmarkets on Friday.The consistent fall in the UK...Read More
Zinc and lead prices continued on their upward trajectories on the morning of Friday February 12, which the nickel price fell by 1.3% on a day that is likely to see little trading due to the Chinese New Year. The three-month zinc price rose to $2,795 per tonne at 9am from Thursday's closing price of $2,789.50. It rose 2.4% on Thursday from the previous day, and its weekly gain is of around 6%. It...Read More