A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 26.Please click...Read More
The spot copper market was quiet for Shanghai due to the closed arbitrage window and backwardation costs remaining in place in the week to Tuesday August 25, while a dramatic African copper theft dealt a blow to consumer confidence in EQ cathodes. The London Metal Exchange copper cash/three-month spread stood at a $17.25 per tonne backwardation in the morning of Wednesday August 26. Cif Shang...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.These include an increase in our copper mine disruption estimates, upgrades to our production outlook for Indonesian nickel pig iron (NPI), a smaller refined zinc surplus, and an upgrade to our zinc price forecasts.Aluminium: Big disconnect between price and fundamentalsAluminium has extended its uptrend on the London Metal...Read More
A summary of Alumina Ltd's half-year results for the six month ended June 30, 2020. The results also include half-year results for Alcoa World Alumina & Chemicals (AWAC), 40%-owned by Alumina Ltd and 60% owned by Alcoa. In brief Alumina Ltd reported a statutory net profit after tax of $90.5 million for the six months to June 30, 2020, down from $210.9 million in the first half of 2019. Exclu...Read More
Hot-rolled coil prices in the United States have remained close to the $24.50-per-hundredweight ($490-per-short-ton) level, while domestic mills have announced a fresh round of price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $24.41 per cwt ($488.20 per ton) on Wednesday August 26, down by 0.7% from $24.58 per cwt on Tuesday August 25 but up by 2.3...Read More
Domestic prices for hot-rolled coil moved up across the EU over the week to Wednesday August 26 supported by some improvement in demand, a lack of competitive imports, reduced output and high raw materials costs, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?447.87 ($529.34) per tonne on Wednesday, up by ?,?5.04 pe...Read More
The price of hollow steel sections in Northern Europe has inched upward following a jump in feedstock costs, with the market slowly returning to work after the summer holiday period, sources told Fastmarkets on Wednesday August 26.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?540-565 ($638-668) per tonne on Wednesday, up from ?,?540-560 per...Read More
Brazilian flat steel producer Usiminas has restarted its No1 blast furnace (BF) in Ipatinga city, in the country's southeastern Minas Gerais state, it said on Wednesday August 26. Usiminas has resumed activities at the blast furnace and its No1 steelworks at the mill, both halted in April because of the impact of the Covid-19 pandemic on the Brazilian economy. "The rebound of the Brazilian economy...Read More
Steel mesh-quality wire rod prices went up over the past week on good demand, while bullish suppliers seem intent on further price increase in September citing higher feedstock costs and demand growth, Fastmarkets heard on August 26.Southern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe increased to ?,?440-450 ($519-531) per...Read More
The price of steel H-beams in Europe inched up on Wednesday August 26 with producers pushing ahead with previously announced increases, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?535-565 ($632-668) per tonne on Wednesday, up from ?,?530-560 per tonne one week before.Market participants have slowly started to return to wor...Read More
The Turkish steel producers have continued their deep-sea scrap purchases for late September and October shipments, with prices becoming firmer, sources said on Wednesday August 26.After booking three deep-sea cargoes earlier this week, three more transactions were heard on Wednesday.A steel mill in the Izmir region booked a European cargo, comprising 10,000 tonnes of HMS 1&2 (75:25), 15,000 tonne...Read More
Seaborne iron ore prices rose on Wednesday August 26 amid strong interest from steelmakers for high- and low-grade iron ore fines, trader sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.20 per tonne, up $1.22 per tonne 62% Fe low-alumina fines, cfr Qingdao: $123.65 per tonne, up $2.45 per tonne58% Fe fines high-grade premium, cfr Qingdao: $110.97 per tonne, u...Read More
The seaborne premium hard coking coal fob index continued yesterday's uptrend, with a transaction of premium hard coking coal concluded on Wednesday August 26 while in the cfr market, seaborne prices remained flat due to low liquidity, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $105.91 per tonne, up $1.50 per tonne Premium hard coking coal, cfr Jingtang: $114.77 per tonne,...Read More
Zinc premiums in China and the United States were flat in the week to Tuesday August 25, with US zinc market participants reporting an increase in spot demand after months, sources said.US spot demand for special high grade (SHG) zinc improves after months of thin demandShanghai zinc premiums were steady, although market participants anticipate a near-term riseSoutheast Asia premiums at all-time l...Read More
China's domestic rebar prices were stable on Wednesday August 26, but demand in some regions decreased as a result of Typhoon Bavi,Domestic Eastern China (Shanghai): 3,640-3,670 yuan ($527-531) per tonne, unchangedThe northern part of Zhejiang province as well as Shandong province further north experienced rain during the day that was attributed to Typhoon Bavi, which is forecast to make landfall...Read More
The LME three-month nickel price hit a year-to-date high in the morning session on Wednesday August 26, up 1% from the previous day's close, and at its highest level since November 2019, at $15,140 per tonne. London Metal Exchange nickel futures were supported by the fresh cancelation of 444 tonnes as of 9am this morning. A 378-tonne outflow of material - 354 tonnes from D...Read More
Alvance Aluminium has achieved ASI 'Performance Standard' certification for its smelting and casting operations in Dunkerque, France, the Aluminium Stewardship Initiative (ASI) announced on Wednesday August 26. Part of the GFG Alliance's aluminium division, the Dunkerque plant - which produces slab and ingot through the electrolysis of alumina - has been successfully certi...Read More
A wide contango in London Metal Exchange spreads supported aluminium premiums across the globe in the week ended Tuesday August 25, with only the premiums in Shanghai bucking the trend.Rotterdam duty-unpaid premium at highest since MarchRestocking drives up premiums in BrazilImproved sentiment in JapanUS Midwest premium holds firmShanghai arb window closes.Tight supply, wide contango spur Rotterda...Read More
Key data from Fastmarkets' pricing session in London on Wednesday August 26.Key drivers: Alloy-grade cobalt traded at a premium to standard-grade with material in tight hands. Prices for both grades were well underpinned despite thinner liquidity compared with the beginning of August. Substantial spot volumes changed...Read More
Cobalt intermediates shipments to China leapt by 84.7% month on month in July and local futures prices responded by plummeting on Tuesday August 25 after the data was released. China imported 28,087 tonnes of cobalt intermediates, which are mostly comprised of cobalt hydroxide - a key feedstock for cobalt refineries - in July, up from 15,206 tonnes in June, and also 9.2% higher year on year, accor...Read More