Domestic prices for hot-rolled coil in Northern Europe increased further day on day on Tuesday November 17, due to low availability of domestic material and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?529.58 ($627.27) per tonne on Tuesday, up by ?,?0.83 per tonne from ?,?528.75 per tonne on Mon...Read More
The copper and lead spot markets in the United States have diverged, with the premium for copper cathodes declining amid low liquidity while the 99.97% lead ingot premium has risen due to strong demand from automotive battery makers.Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 7-7.5 cents per lb on Tuesday 17 November, narrowing down from 7-8 cents per lb previously,...Read More
Premiums for duty-paid aluminium in Rotterdam rose on Tuesday November 17, with a wider contango on the London Metal Exchange and improved demand supporting the increase. Premiums were flat elsewhere in the world.Rotterdam duty-paid premium returns to levels seen at the end of October United States premiums steady with market fundamentals supportive Main Japanese ports (MJP) premium flat with mark...Read More
The London Metal Exchange base metals prices stabilized in morning trading on Tuesday November 17 after a euphoric trading session on Monday, when the markets were boosted by Chinese economic data and news of another successful Covid-19 vaccine trial. Copper, aluminium, zinc and tin all had gains of 1% or more on Monday morning, while on Tuesday morning there were no gains above 0.8%. Vaccine news...Read More
Markets were generally buoyant this morning, Tuesday November 17, following news that a second coronavirus vaccine is showing good results, which is underpinning many equity indices at or near record highs, although the base metals on the London Metal Exchange were consolidating. Asian Pacific equities were mainly higher, following gains on major western equity indices on Monday......but major wes...Read More
Alvance, the aluminium division of GFG Alliance, is proposing to invest in a new recycling and casting facility that will almost double output at its Fort William, Scotland, plant and continue its growth as a low-carbon production hub. The proposed ?94 million ($124.1 million) investment replaces a previously-approved alloy wheels factory due to a significant decline in the UK automotive sector....Read More
Italian plantmaker Danieli will supply a new wire rod line and slab caster automation and control system to Turkish long steel and flat steel producer Habas, Danieli said on Monday November 16.The new wire rod mill will be installed in the Aliaga steelmaking plant with capacity to produce steel grades including low- and medium-carbon steel, welding wire, high-carbon and PC wire, and reinforcement...Read More
Steel billet producers in the Commonwealth of Independent States (CIS) have become increasingly bullish due to a strong international raw materials market, despite buying activity remaining limited, sources told Fastmarkets on Tuesday November 17.Offers for CIS-origin billet with January shipment were heard mainly within the range of $445-450 per tonne fob Black Sea, but some suppliers were trying...Read More
Steel billet and rebar prices in the United Arab Emirates increased this week, despite only moderate demand, sources said on Tuesday November 17.Domestic rebarThe country's biggest steel producer Emirates Steel was offering rebar at 1,984 dirhams ($540) per tonne ex-works for orders to be produced in December, up from the previous price of 1,936 dirhams ($527) per tonne ex-works for orders to be p...Read More
The price uptrend in the Commonwealth of Independent States (CIS) export market for flat steel continued over the week to Monday November 16 due to a remaining material shortage, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS was $520-530 per tonne on November 16, up by $5 per tonne from $515-525 per tonne a week earlier.Most market activity...Read More
Ferrous scrap prices in the Mexican domestic market soared in central Baj?-o region during the week ended Friday November 13, while remaining stable in the north of the country, amid strong demand for steel.At least two steelmakers in the Baj?-o region were heard increasing prices, as customers were competing to secure supply of the steelmaking raw material. Fastmarkets assessed the steel scrap No...Read More
Turkish steel mills did not book any additional cargoes on the second day of the week following a recent rise in prices, sources told Fastmarkets on Tuesday November 17.The mills steered clear of deep sea scrap cargo purchases again on Tuesday, with some backing away from the market on concerns that prices had become too high after the recent jump."Some people are cautious because prices have...Read More
Seaborne premium hard coking coal prices were relatively flat on Tuesday November 17 due to lack of trading during the day.Fastmarkets indicesPremium hard coking coal, fob DBCT: $100.38 per tonne, unchanged Premium hard coking coal, cfr Jingtang: $154.33 per tonne, up $0.01 per tonneHard coking coal, fob DBCT: $95.50 per tonne, down $0.30 per tonneHard coking...Read More
Iron ore prices increased further in both the futures and seaborne markets on Tuesday November 17, supported by hot-rolled coil and rebar futures prices that hit new annual highs, although physical prices at ports remained stable. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $125.44 per tonne, up $1.37 per tonne 62% Fe low-alumina fines, cfr Qingdao: $125.99 per tonne, up $1.64 per tonn...Read More
China's hot-rolled coil prices rose to their highest since late October 2018 on Tuesday November 17 amid a strong futures market, sources said.DomesticEastern China (Shanghai): 4,100-4,130 yuan ($623-627) per tonne, up 50 yuan per tonneRallying futures throughout the day led sellers to issue higher offers for HRC during the trading session.A Shanghai-based trader said that sentiment had improved d...Read More
China's domestic rebar prices moved up further on Tuesday November 17 on strong demand to reach their highest since November 2018.DomesticEastern China (Shanghai): 4,130-4,160 yuan ($627-632) per tonne, up by 50 yuan per tonneBuyers raised their procurement rates amid a strengthening futures market during the day, which pushed up rebar prices.Sellers' rebar stock is also decreasing on good end-use...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More
The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.* Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday...* ...but major western equity indices are weaker this morning, suggesting some concern about...Read More
Lowe's (LOW), an S&P 100 stock moved below $151.37 completing a modified Head & Shoulders pattern. Regeneron (REGN), a NASDAQ 100 stock moved below $533.23 extending an intermediate downtrend.Selected Canadian "gassy" stocks are breaking out. Freehold Royalties moved above $4.70 extending an intermediate uptrend. PrairieSky Royalties moved above $9.82.Pre-opening Comments for Wednesday Nov...Read More