There is no short-term fix for the container shortage that has sent freight cost to record highs, nor is there a need for regulatory authorities to put a lid on freight rates, Lars Jensen, chief executive officer of SeaIntelligence Consulting, said in an interview with Fastmarkets. "We are now seeing the consequences of carrier cancellations several months ago that led to a shortage of empty conta...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 8 that are worth another look.There is no short-term fix for the container shortage that has sent freight cost to record highs, nor is there a need for regulatory authorities to put a lid on freight rates, Lars...Read More
Ferrous scrap prices in Mexico's main markets continued to rise in the week ended Friday December 4, with both regions assessed by Fastmarkets registering increases after clients accepted higher offers in order to maintain supply.Market participants reported price increases in a wide range of 50-600 pesos per tonne ($2-30 per tonne), depending on the customer.Fastmarkets assessed the steel sc...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 8.Please click...Read More
The price of domestic hot-rolled coil in Northern Europe inched further upward day-on-day on Tuesday December 8, due to scarce supply from both domestic and overseas producers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?577.50 ($700.04) per tonne on Tuesday, up by ?,?0.83 per tonne from ?,?576.67 per tonne on December...Read More
Here are five Fastmarkets stories you might have missed on Tuesday December 8 that are worth another look.There is no short-term fix for the container shortage that has sent freight cost to record highs, nor is there a need for regulatory authorities to put a lid on freight rates, Lars...Read More
Glencore chairman Tony Hayward was not understating matters when he described the company's succession transition as coming "at a time of huge change." Glencore's share price has risen 3% since its announcement on Friday December 4 that 18-year chief executive officer Ivan Glasenberg would be retiring from his role next year and coal assets head Gary Nagle would stepping up to the plate. The...Read More
The base metals complex on the London Metal Exchange showed mixed fortunes at the 5pm close on Tuesday December 8, with zinc, lead and nickel holding on to gains while aluminium fell below the $2,000 per tonne psychological mark.Lead showed the biggest increase of the day, rising by 0.98% to $2,099.50 per tonne by the close from Monday's price of $2,076 per tonne.Sister metal zinc also showed a sm...Read More
Seaborne coking coal prices across the board were flat day on day on Tuesday December 8 due to a lack of transactions, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.08 per tonne, up $0.01 per tonnePremium hard coking coal, cfr Jingtang: $169.52 per tonne, unchangedHard coking coal, fob DBCT: $92.68 per tonne, unchangedHard coking coal, cfr Jingtang: $154.11 per tonne, un...Read More
The base metals remain upbeat this morning, Tuesday December 8, and the underlying story remains the same, infrastructure spending, economic recovery, a mass of liquidity and the potential for more US stimulus.Although there are some potential headwinds - political tensions between the United States and China, a no-deal Brexit and a correction in equity prices as harder lockdowns are forced on pop...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese domestic and export flat steel prices surged in November 2020, with the export hot-rolled coil index rising to $592 per tonne during the month from $519 per tonne previously, and the monthly average increasing by 7.5% over October.Economic activity in China continued to expand, with manufacturing output rising by 7.5...Read More
The base metals complex on the London Metal Exchange showed mixed fortunes at the 5pm close on Tuesday December 8, with zinc, lead and nickel holding on to gains while aluminium fell below the $2,000 per tonne psychological mark.Lead showed the biggest increase of the day, rising by 0.98% to $2,099.50 per tonne by the close from Monday's price of $2,076 per tonne.Sister metal zinc also showed a sm...Read More
Monthly Chinese custom data compiled by Fastmarkets showed lithium carbonate imports in China for October were at their highest level in at least seven years.The spike in Chinese imports of lithium carbonate reflected the uptrend in the country's spot market as well as stock building by key suppliers in the country in preparation for a price recovery and increased demand, Fastmarkets understands....Read More
Peruvian mine output went up on an annual basis of comparison in October, with copper, zinc and tin recovering to pre-pandemic levels and production units aiming for higher capacity usage, data from the country's ministry of energy and mines, Minem, showed on Monday December 7.The country produced 207,034 tonnes of copper during October, a 1.4% year-on-year increase from 204,139 tonnes. But in the...Read More
Hindalco plans to build a 34,000-tonne-per-year aluminium extrusion plant in Silvassa, India, it said on Monday December 7. The company, which expects commercial production at the plant to start in 24 months, said the new plant will be part of the company's long-term downstream value-added product (VAP) strategy. Hindalco plans to build a larger VAP portfolio over the next few years. "We are seein...Read More
Glencore chairman Tony Hayward was not understating matters when he described the company's succession transition as coming "at a time of huge change." Glencore's share price has risen 3% since its announcement on Friday December 4 that 18-year chief executive officer Ivan Glasenberg would be retiring from his role next year and coal assets head Gary Nagle would stepping up to the plate. The...Read More
Three-month prices on the London Metal Exchange were broadly unchanged from Monday's prices and remained around their peaks on Tuesday December 8 morning.Nickel was back to high ground after dipping slightly on Monday, with its three-month price at $16,415 per tonne at 9:05am - rising to $16,440 per tonne shortly after - up 0.25% from Monday's 5pm close. Nickel declined slightly also, do...Read More
Aluminium Bahrain (Alba) has signed a Memorandum of Understanding (MoU) with China-based alumina producer Hangzhou Jinjiang Group (HJJ) in hope of securing an alumina supply. The MoU serves as a framework to form a strategic potential collaboration between both entities to secure Alba's alumina requirements. The agreement will remain in effect for three years and can be extended upon mutual agreem...Read More
Chinese exports of unwrought aluminium and aluminium products rose slightly in November from the month prior but still declined on a year-on-year basis, customs data released on Monday December 7 shows.China exported 424,000 tonnes of unwrought aluminium and...Read More
European distributors of flat steel products have reported a 3.3% year-on-year rise in shipment volumes during October 2020, regional steel industry association Eurometal said on Tuesday December 8.Over the first 10 months of 2020, however, flat steel distributors' shipments dropped by 14.0% year-on-year.Eurometal did not disclose individual product volumes.Fastmarkets calculated its daily steel h...Read More