Prices in the market for steel billet exports from the Commonwealth of Independent States region reduced on Wednesday November 3 due to cautious buyers, sources told to Fastmarkets.Fastmarkets' calculation of its daily steel billet index, export, fob Black Sea, CIS was $646 per tonne, down by $7 day on day."Scrap prices in Turkey [the...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
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
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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 28.00-28.60...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
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it...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
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
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
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
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Dalila Ouerghi...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
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
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
Most base metals on the London Metal Exchange traded higher during Wednesday's morning session, bouncing back above the previous day's closing prices aided by well-supported coal prices in Asia.Three-month aluminium traded at $2,733.50 per tonne on Wednesday morning, compared with its close on Tuesday of $2,692 per tonne. Market analysts said well-supported coal prices helped push the light metal...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Alex Cook, Dalila Ouerghi...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
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.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...Read More
Prices for steel scrap imported into China decreased sharply due to the continued drop in both spot and futures prices for finished steel products in the country on Tuesday November 2, sources told Fastmarkets.China import price tumbles amid bearish sentiment dominating the steel marketsChinese mills cut domestic scrap buy prices againTaiwan secures containerized scrap cargoes at $475 per tonne cf...Read More