Prices for domestic steel hot-rolled coil increased in Europe in the week ended Friday January 15, due to limited availability of the material.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?716.00 ($864.56) per tonne on Friday, up by ?,?48.50 per tonne week on week and by ?,?79.75 per tonne month on month.The calculation of the index was based on...Read More
The London Metal Exchange aluminium forward price was dented by almost 1% by a sizeable delivery of material to registered warehouses, while tin recorded the biggest increase at the 5pm close on Monday January 18. Tin's three-month price was up 0.6% on Monday at 5pm to $21,245 per tonne. The metal has rebounded from this year's low of $20,525 per tonne on January 11, and is edging closer to the Ja...Read More
Here are five Fastmarkets stories you might have missed on Monday January 18 that are worth another look.The prices of ferro-chrome imported into both Japan and South Korea have surprised the market by jumping to two-year highs because of a recent surge in spot prices in China, the largest importer of the...Read More
After a rapid rise of domestic steel prices across Europe in the second half of 2020, market sources have been voicing concerns that the situation will echo the scenario in 2008 of a price spike quickly followed by a sharp fall. Fastmarkets takes a look at the differences and similarities in the market situations of 2008 and 2020. Domestic prices for both flat and long steel products increased dra...Read More
The London Metal Exchange aluminium forward price was dented by almost 1% by a sizeable delivery of material to registered warehouses, while tin recorded the biggest increase at the 5pm close on Monday January 18. Tin's three-month price was up 0.6% on Monday at 5pm to $21,245 per tonne. The metal has rebounded from this year's low of $20,525 per tonne on January 11, and is edging closer to the Ja...Read More
The seaborne fob market moved up slightly for premium hard coking coal prices on Monday January 18 on firm demand and a limited number of cargoes on offer in the market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.15 per tonne, up $0.24 per tonnePremium hard coking coal, cfr Jingtang: $208.69 per tonne, unchangedHard coking coal, fob DBCT: $101.54 per tonne, unchangedH...Read More
Iron ore prices increased on Monday January 18, supported by a news of a record-high GDP in China for 2020 and supply concerns after a fire at Vale's Ponta da Madeira terminal in northern Brazil.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $174.07 per tonne, up $0.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $174.66 per tonne, up $0.53 per tonne58% Fe fines high-grade pr...Read More
The European spot ferro-silicon price, which widened up to ?,?1,300-1,200 per tonne on Friday January 15, should now be supported against any prompt demand from steelmakers that have agreed their first-quarter delivery settlements, sources said this week.They told Fastmarkets that the last time the price was this high was in November 2018. The market should also get support from suppliers kee...Read More
Mining at Vedanta Zinc International's South African zinc mine in Gamsberg has resumed after a two-month shutdown following a landfall at the project in November. Mining activity was stopped at Gamsberg on November 17 following the incident, which left 10 workers trapped in the landfall and one miner still missing. Vedanta, which acquired the Gamsberg mine in 2011 from Anglo American and operates...Read More
Treatment charges for spot market zinc concentrates were flat from one assessment to the next at low levels in the first half of January, with smelters and traders weighing seemingly limited short-term availability against expectations of a mined abundance later this year.Vedanta restarts mining at Gamsberg after fatal collapseTrevali to bring back Caribou after high price hedgesMiners offering bi...Read More
Britannia Global Markets' application to become a category 2 broking member of the London Metal Exchange has been approved by the exchange, its parent company said on Monday January 18.The admission will take place in the first week of February, according to Britannia Financial Group, which has several investment and banking arms including Britannia Global Markets.Britannia Global Markets was prev...Read More
A delivery of over 100,000 tonnes of aluminium into warehouses across the London Metal Exchange network should be supportive of wider contangos and higher premiums, market participants told Fastmarkets.A total of 112,400 tonnes was delivered into LME warehouses across Asia on January 18. The biggest delivery was in Gwangyang, South Korea where 62,500 tonnes were delivered in. This is the first-tim...Read More
Holman Head retired from his role as president and chief operating officer of O'Neal Industries (ONI) at the end of September. He recalls the substantial growth of the business during his 40-year career with the company and discusses likely future trends with Fastmarkets' Bette Kovach.In reflecting on his 40-year career with ONI of Birmingham, Alabama, Head thought about all the changes that metal...Read More
LME base metals prices had a mixed start on the morning of January 18, despite positive economic data coming out of China, with copper and nickel rising but zinc falling, capped by a high US Dollar Index. Copper's three-month price on the London Metal Exchange was up by 0.5% to $7,990 per tonne on Monday at 9:30am, compared with Friday's 5pm closing price of $7,949 per tonne. Copper ...Read More
The base metals on the London Metal Exchange were mainly stronger this morning, Monday January 18, aided by some strong economic data in China, including gross domestic product (GDP) that showed growth of 6.5% year on year in the fourth quarter, which was stronger than the 6.2% expected and up from 4.9% in the third quarter. Metals prices firmer despite stronger US dollarBase metals Three-month ba...Read More
Steel tube and pipe producer Tenaris has signed a letter of intent to work with energy operator Edison and gas transmission network company Snam on trials of steelmaking with 'green' hydrogen at the Dalmine mill in Italy, the companies announced recently.The companies will collaborate to identify and implement the most suitable solutions for the production, distribution and use of green hydrogen a...Read More
European distributors of flat steel products have reported an 8.9% year-on-year rise in shipment volumes during November 2020, regional steel industry association Eurometal said on Monday January 18.Over the first 11 months of 2020, however, flat steel distributors' shipments dropped by 12.00% year-on-year.Eurometal did not disclose individual product volumes.Fastmarkets calculated its daily steel...Read More
The domestic price for hot-rolled coil in Northern Europe inched up day on day on Monday January 18 due to the reduced availability of material, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?721.25 ($870.86) per tonne on Monday January 18, up by ?,?5.25 per tonne day on day from ?,?716.00 per tonne on Friday.The index was...Read More
The European Commission has started an investigation review of existing anti-dumping measures for hot-rolled coil produced by Russian steelmaker Severstal. The investigation was opened after the European steel association lodged a request, according to a notice published in the Official Journal of the European Union on Monday January 18. In October 2017, the EC imposed fixed charges in the ra...Read More
Apparent steel consumption in Brazil grew by 30.2% year on year in December and finished the year up by 1.2% overall, the country's steel association, Instituto A??o Brasil, said on Monday January 18.According to A??o Brasil data, December consumption totaled 2.03 million tonnes, up from 1.56 million tonnes a year before.Flat-rolled steel demand reached 1.23 million tonnes in December, up 31.5% fr...Read More