The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
LMEpassport, a new digital register for physical metals data, is to be rolled out by the London Metal Exchange in 2021, starting with aluminium and gradually phasing in other metals over the next three years.The digital register - part of a sustainability package that includes a spot trading platform and new contracts - is designed to provide a centralized transparency source, the data from which...Read More
Seaborne iron ore prices rose on Wednesday December 16 after the most-traded May iron ore futures contract on the Dalian Commodity Exchange (DCE) crossed the 1,000 yuan-mark ($153) to close the afternoon trading session, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $156.45 per tonne, up $1.38 per tonne62% Fe low-alumina fines, cfr Qingdao: $156.71 per tonne, up...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US flat product prices maintained momentum through November, with increases accelerating in early December in response to supply shortfalls, rising scrap prices, and improving demand.While we correctly forecast further pricing gains in November, actual prices surpasse...Read More
Turkish deep-sea scrap import prices continued to climb on Wednesday December 16, with fresh bookings heard from Europe and the Baltic Sea regions, sources told Fastmarkets.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising HMS 1&2 (80:20) at $435 per tonne and bonus at $445 per tonne cfr. The cargo composition could not be verified at the time of publication.Another steel...Read More
The London Metal Exchange tin price was the biggest riser on Wednesday December 16, coming close to the $20,000 per tonne mark and setting a new year-to-date high, spurring most of the complex along with it while market participants eyed a congressional deal for a coronavirus stimulus package in the United States. Tin's three-month price rose by 1.1% to $19,925 per tonne on Wednesday at 5pm agains...Read More
The lead and zinc scrap markets in the United States remained strong heading into the final weeks of 2020 while increased demand for scrap from foreign buyers as well as demand for new, replacement car batteries kept market sentiment firm."New battery demand is still heavy and expected to continue until March with a harsh winter forecast," one consumer said. "A lot has changed in a short period. E...Read More
A collaboration between metals and mining companies including Anglo American, Glencore and Tata Steel have released a proof of concept carbon tracing platform to trace emissions across the value chain using distributed ledger technology. The venture - a collaboration between the World Economic Forum and seven global companies that make up its Mining and Metals Blockchain Initiative (MMBI) - aims t...Read More
Chilean copper producer Codelco renewed its labor agreement with the workers' unions representing employees at the Ventanas division located in the country's central Valpara?-so region, the state-owned miner said on Tuesday December 15.The new contracts will be effective for 36 months from February 1, 2021 for Union No.1 and from May 1 for the Turnados Union, Codelco said. Similar to the deal...Read More
Elysis has completed construction of its Qu?(C)bec, Canada research and development facility, taking the joint-venture between Alcoa and Rio Tinto one step closer to commercializing carbon-free aluminium. The technology, which was first developed at the Alcoa Technical Center near Pittsburgh in the United States, eliminates all direct greenhouse gases from the aluminium smelting process, instead p...Read More
Global nickel premiums were largely unchanged in the week to Tuesday December 16, while in China, prices for nickel pig iron (NPI) and nickel sulfate responded positively to improved buying interest and strong nickel prices on the LME. European and US premiums both steady in thin marketChina's NPI and nickel sulfate prices up; plate premiums static LME price spike keeps European premiums firm desp...Read More
Wire rod prices in the United States have jumped higher in response to significant scrap price increases, with mills passing those costs along to consumers, as well as a falling dollar, which has pushed import prices even higher - making them less competitive against domestic supply, Fastmarkets has learned.Fastmarkets' monthly price assessment for steel wire rod (low carbon) industrial quality, f...Read More
Galvalume prices in the United States have climbed to their highest in more than two years due to demand outstripping supply - a situation that likely will not be remedied in early 2021, market participants said."Not everyone who buys Galvalume can get what they need," a producer said. "I see Galvalume rising further."Fastmarkets assessed the price for steel coil Galvalume, fob mill US at $48 per...Read More
Domestic European prices for hot-dipped galvanized coil increased over the week to Wednesday December 16 due to low availability and an increase in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe was ?,?730-750 ($887-911) per tonne on December 16, up by ?,?20-50 per tonne from ?,?680-730 per tonne a week earlier.The assess...Read More
Domestic cold-rolled coil prices in Europe jumped in the week to Wednesday December 16 due to a shortage of material and a rise in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?720-750 ($875-911) per tonne on December 16 compared with ?,?650-680 per tonne a week earlier.Fastmarkets' weekly price assessment fo...Read More
Rising hollow section prices in Europe this week reflected the struggle mills are facing to source feedstock material amid an ongoing shortage, sources told Fastmarkets on Wednesday December 16. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?740-750 ($899-911) per tonne on Wednesday, up from ?,?700-720 per tonne a week earlier. The availa...Read More
Brazilian pellet producer Samarco, a 50:50 joint venture between Vale and BHP, resumed some of its operations on Friday December 11 after being halted for more than five years due to a deadly tailings dam disaster.Samarco has started operations at one of its three iron ore concentrating plants and at its new waste processing facility, both at its Germano complex in Mariana city, in the country's s...Read More
International ferrous scrap sales to Turkey have hit $435 per tonne, but export deals from the United States' East Coast remain closely guarded secrets.The US export market is very opaque at the moment. One export source reported that sales were being conducted, but the destinations and prices were protected by confidentiality agreements to prevent export dock prices from overheating.The export so...Read More
The stainless steel scrap market in the United States has strengthened as the year-end approaches, with market participants noting that the stainless and ferrous scrap price jumps this month are very unusual for this time of year, when consuming mills usually reduce their inventories for year-end financials. "I am shocked with all the pricing. This has been one crazy year!" one large dealer said."...Read More
Renewed buying interest from consumers in South Korea and Taiwan has allowed another increase in Japanese export scrap prices over the past week, market participants told Fastmarkets on Wednesday December 16. Prices had already surged last week on the back of a leap in December's Kanto steel scrap auction and robust domestic buy prices, but greater demand from key Asian buyers allowed another...Read More