Domestic prices for steel hot-rolled coil increased again across Europe in the week to Friday November 27, due to tight supply from both domestic and overseas suppliers.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?560.00 ($669.88) per tonne on Friday, up by ?,?18.75 per tonne week on week and by ?,?61.67 per tonne month on month.Friday's index...Read More
Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday's closing price of $7,499.50 per tonne and setting a new year-to-date high.The red metal also went up to $7,708....Read More
Here are five Fastmarkets stories you might have missed on Monday November 30 that are worth another look.Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on November 30.The first deal for...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
Copper and aluminium prices reached new year-to-date highs at the close of trading on the London Metal Exchange on Monday November 30, while the rest of the base-metals complex showed dips in their three-month prices.Copper rose to $7,580 per tonne at 5pm on Monday, up by 1% from Friday's closing price of $7,499.50 per tonne and setting a new year-to-date high.The red metal also went up to $7,708....Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
The London Metal Exchange has appointed a new head to its LME Clear platform after Richard Thornhill stepped down from the position, Fastmarkets understands.Marco Strimer was appointed as Chairman of the LME Clear Limited Board on Monday November 30 following Richard Thornhill's retirement after seven years at the role. Strimer has been a member of the LME Clear Board since December 2013 and...Read More
European ferro-titanium prices could hit multi-year highs in the coming weeks against strengthening demand from steelmakers and increasingly tight supplies of scrap, alloy suppliers in Europe told Fastmarkets. Delivered duty-paid prices in Europe will set a new annual peak if prices increase at all from the top end of the current range, and the market will equal a more than six-year high if prices...Read More
The first deal for the supply of aluminium to main Japanese ports (MJP) for the first quarter of 2021 has concluded at a premium of $125 per tonne cif MJP, multiple sources told Fastmarkets on Monday November 30. The deal was for 6,000-9,000 tonnes of aluminium ingot in total for January-March delivery, with 2,000-3,000 tonnes to be delivered each month, and is on top of the London Metal Exchange...Read More
The London Metal Exchange copper price rose by 1.8% in morning trading on Monday November 30, continuing the bullish trend from the previous week and boosted by positive Chinese economic data and a weak dollar index, but nickel was the laggard. Copper's three-month price, which last Friday leapt to numbers not seen since April 2013, rose to $7,636.50 per tonne at 9am with over 14,000 lots exchange...Read More
Base metals prices were mainly stronger this morning, Monday November 30, helped by strong Chinese manufacturing purchasing managers' index (PMI) data and a weaker dollar, but some of the metals are starting to look tired.Chinese manufacturing PMI climbed to 52.1 in November, up from 51.4 in OctoberChinese non-manufacturing PMI climbed to 56.41 in November, up from 56.2 in OctoberBase metals The t...Read More
The price of hot-rolled coil in the United States has reached its highest level in over two years, Fastmarkets has learned. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $39.83 per hundredweight ($796.60 per ton) on Monday November 30, up 2.1% from $39 per cwt on Wednesday November 25 and an increase of 2.7% from $38.80 per cwt one week earlier. Inputs were received...Read More
Brazilian steelmakers will raise the domestic price for long steel products such as rebar by an average of 12% in December, market participants have told Fastmarkets.This will make it the sixth consecutive month of higher prices in Brazil, because of the quick demand recovery from 2020 lows caused by the Covid-19 pandemic. Long steel producers increased prices by around 10% in November.Fastmarkets...Read More
Italian authorities will finalize their takeover of a share in flat steel producer ArcelorMittal Italia on December 10, trade unions Fiom-Cgil and Uilm said on Monday November 30."Negotiations are continuing between the Italian government and ArcelorMittal and a further 10 days are needed [before they] sign the final agreement, after a letter of intent [was] signed today," Fiom-Cgil said."Today wa...Read More
The Brazilian steel sector expects to negotiate exemptions for its exports from the Section 232 measures imposed by the United States once President-Elect Joe Biden takes office next January, according to national steel association A??o Brasil."With the new administration [in the US], we expect to have some room to negotiate again the exemption of [Brazil-origin] steel products from the Section 23...Read More
Turkey's imports of flat steel products decreased by 9.08% year-on-year in October 2020, according to figures from the Turkish Statistical Institute (TUIK).The country imported 545,533 tonnes of flat steel in the month, compared with 600,015 tonnes in the corresponding month of 2019, the statistics published on Monday November 30 showed.Most of the imports delivered to Turkey in October...Read More
Steel slab export prices from Brazil remained stable in the week ended Friday November 27, with few volumes available and buyers adopting a wait-and-see stance after recent price increases.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil, was $515-540 per tonne on November 27, unchanged from the previous week.Offers of slab to the United States were reported around...Read More
Turkish domestic scrap prices continued to increase over the past week because of the rising costs for imported scrap, sources said on Monday November 30.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,600-2,645 lira ($330-336) per tonne on Monday, up from the 2,250-2,545 lira per tonne of last week.Long and flat steelmaker ??olakoglu and...Read More