Europe's domestic prices for heavy plate rose sharply in the week to Wednesday November 3 due to strong demand and surging production costs, sources told Fastmarkets.Energy prices have increased substantially across Europe, adding pressure on steel prices. A number of producers that have long-term agreements for electricity will have to renegotiate new contracts starting in January 2022, sources s...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board on Wednesday November 3, suggesting dips are once again finding support. The European Union's manufacturing purchasing managers' index (PMI) out on Tuesday at 58.3, while slightly weaker than September's 58.5, still showed strong expansion, which will be helping to counter the slowdown in China.U...Read More
Seaborne coking coal prices across the board in both cfr and fob markets were relatively flat on Wednesday November 3.Fastmarkets indices Premium hard coking coal, cfr Jingtang: $600.88 per tonne, up $0.63 per tonne Hard coking coal, cfr Jingtang: $525.23 per tonne, unchanged Premium hard coking coal, fob DBCT: $403.57 per tonne, unchanged Hard coking coal, fob DBCT: $339.59 per tonne, unchang...Read More
The mood in the European hot-rolled coil market was upbeat on Wednesday November 3 despite limited trading activity, sources told Fastmarkets.Bullish sentiment was supported by a recovery in domestic demand caused by restocking activity. Further support came from news of an agreement between the United States and the EU to replace Section 232 tariffs on steel and aluminium, imposed on the bloc's 2...Read More
Iron ore prices went up on Wednesday November 3 with support from the demand in low-grade fines, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $100.10 per tonne, up by $4.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $101.70 per tonne, up by $5.03 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.15 per tonne, up by $8.45 per tonne65% Fe Brazil-origin...Read More
The growth in Brazil's apparent steel consumption is poised to lose some steam by the end of 2021 amid a slower pace of import activity, although real demand shows very few signs of weakening, market participants have told Fastmarkets.The country is close to setting new record-high import volumes this year due to a surge in interest for foreign material and increased needs for third-party semi-fin...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 3.Key drivers?EUR?European ferro-titanium suppliers held their offer prices steady for the third consecutive week on November 3. There was low-key trading activity, and spot prices appeared to be steady ahead of the expected settlement of steelmakers' tenders for alloy and the annual Fastmarkets' international ferro-alloys...Read More
Nickel premiums remained steady in the United States, China and Europe in the week to November 3, although tight supplies and growing production disruptions are keeping prices high in the US. US nickel premiums hold at historic highsChinese premiums also stable with increased full plate imports into ChinaPremiums unchanged in Europe, with market focusing on contracts for 2022US premiums still at h...Read More
Domestic stainless steel prices in China dropped sharply over the week ended Wednesday November 3, causing exporters in the country to lower their offers as well. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 19,800-20,200 ($3,094-3,156) per tonne, down by 800-900 yuan per tonne from a week earlier Sentiment in the stainless steel futures market remained bearish over the...Read More
Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association said on Monday November 1.The US authorities made theannouncement, on Saturday October 30."We welcome the announcement of the agreement which could be the starting point of a ne...Read More
The price of steel hollow sections in Europe moved down on Wednesday November 3, with the market seeking the floor after recent price drops, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,150- 1,250 ($1,333-1,449) per tonne on Wednesday, down from ?,?1,230-1,275 per tonne one week previous.Market sources hav...Read More
Zinc's three-month price on the London Metal Exchange on Wednesday November 3 touched its lowest since October 13, with prices in the base metals complex ending the day on a mixed note ahead of the US Federal Reserve Bank's Federal Open Market Committee press conference.Zinc reached $3,263 per tonne on Wednesday, its lowest price since announcements by Nyrstar and Glencore that production in Europ...Read More
China's domestic rebar prices tumbled further on Wednesday November 3, which stimulated demand. Domestic Eastern China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, down by 130 yuan per tonneRebar sellers lowered their offers in the morning on a weak futures market, a trader in Shanghai said. The January rebar futures contract on the Shanghai Futures Exchange was lower...Read More
The prevailing backwardation of London Metal Exchange tin prices continued to encourage lower offer prices in Europe and the United States, with premiums falling stateside on November 2, while premiums in Taiwan were steady despite the ongoing destocking of LME inventories. In-warehouse premiums in Rotterdam and Baltimore drop slightly amid more supply and lower offersLME stocks at 645 tonnes...Read More
Brazilian exports of iron ore slipped by 0.84% year on year in October, the country's economy ministry said on Wednesday November 3.Iron ore exports totaled 30.86 million tonnes during the month, down from 31.12 million tonnes in October 2020.Daily average volumes totaled 1.54 million tonnes, also down by 0.84% from 1.56 million tonnes in the same comparison. October had 20 workdays in both 2020 a...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 3.Please click...Read More
A summary of Peru-based metals producer Volcan's production figures and financial results for the third quarter of 2021, as stated in its earnings report published on Tuesday November 2.In brief Volcan's zinc and lead output growth in the quarter was spearheaded by higher mined and treated ore at the Yauli mine, in the Peruvian central Jun?-n region, although this was partially offset by a decreas...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Dalila Ouerghi...Read More
Demand for low-carbon aluminium is likely to remain strong into 2022 despite tight market conditions, leading executives from Norwegian aluminium and renewable energy company Norsk Hydro said.Norsk Hydro chief executive officer Hilde Merete Aasheim and chief financial officer P??l Kildemo spoke to Fastmarkets after releasing their third-quarter results last week."Demand [for low-carbon material] i...Read More
Prices for Japanese bulk shredded scrap have tumbled over the last week amid a drop in intake from a major Japanese blast furnace (BF)-based mill and discounted sales to South Korea.In late September, sources told Fastmarkets that shredded demand at BF-based mills had benefitted greatly from the tight supply of Shindachi prime scrap, but a reduction in shredded purchase volumes in recent weeks has...Read More