The latest forecast from Fastmarkets' team of analysts is ready to view.As we enter the summer season across the northern hemisphere, almost half a year has passed since the Covid-19 pandemic began to seriously affect Europe and the United States.One would not really be able to tell that such a dramatic event had occurred by looking at stainless steel prices, however, because they are more or less...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Stainless steel prices are relatively stable this month, showing little change since our previous tracker. Such stability masks growing issues for stainless steelmakers, however, who are increasingly unable to pass on rising costs to consumers and are, thus, facing cuts to their margins.In general, this is due to an excess of...Read More
Turkish domestic scrap prices increased over the past week in line with strengthening domestic finished steel prices and imported scrap costs, sources said on Monday August 17.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey was 1,890-2,115 lira ($257-288) per tonne on Monday, up from 1,720-2,045 lira per tonne last week.A number of steel mills ra...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Monday August 17, after a gradual increase last week, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?419.17 ($496.32) per tonne on Monday August 17, unchanged from August 14.The index was, however, up by ?,?5.00 per tonne week on wee...Read More
AMAG Austria Metall Ag will acquire a 70% stake in German aerospace and aviation components manufacturer Aircraft Philipp Gruppe (ACP), the Austrian aluminium cast and flat rolled products company said. The deal is expected to be concluded in late autumn, with ACP to be retained as an entity which will operate and be managed as an independent company. ACP current owner Rolf Philipp will retain a 3...Read More
The aluminium premium at main Japanese ports (MJP) in the fourth quarter of 2020 was unlikely to rise from its level in the third quarter even though the gradual recovery of demand in the country has improved market sentiment in recent weeks, sources have told Fastmarkets.Last week was part of the summer break for the majority of end-users in Japan, but participants said that the MJP market has be...Read More
The three-month zinc price on the London Metal Exchange was the standout performer during morning trading on Monday August 17, pushing past the $2,400-per-tonne resistance level despite continued stock inflows, while nickel futures continued their ascent against a wide forward curve.Zinc's outright price on the LME was recently trading at $2,426 per tonne, up 2.5% from $2,367.50 per tonne at the c...Read More
Metal prices were mostly firmer on both the London Metals Exchange and the Shanghai Futures Exchange on Monday August 17, the exception was the SHFE September aluminium contract that was down by 0.3% while the rest of the metals on both exchanges were up by an average of 1.1%. United States/China trade talks over the weekend were postponed. Japan's preliminary gross domestic product fell by 7.8%...Read More
Domestic flat steel suppliers to Russia's Central Federal District around Moscow are keen to increase prices from September, supported by stronger exports, although buyers doubt they will stick, sources told Fastmarkets on Monday, August 17.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia was unchanged at 41,000-42,000 roubles ($563-576)...Read More
Prices for rebar in Russia's Central Federal District around Moscow remained flat over the week to August 17, while sentiment in the market remained bullish on good demand from construction, sources said.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 35,000 roubles ($480) per tonne on Monday, including 20% VAT, flat with the week before and...Read More
The domestic steel rebar price in Brazil increased for the second consecutive month in August, after steelmakers' attempts to raise it in July were successful, market participants said.Fastmarkets' monthly assessment of steel reinforcing bar (rebar) domestic, delivered Brazil was 2,510-2,620 Reais ($463-483) per tonne on Friday August 14, up from 2,410-2,530 Reais per tonne on July 10.As well as r...Read More
Egypt consumed 439,000 tonnes of rebar in July 2020, 33.48% less than the 660,000 tonnes it consumed in July 2019, Egyptian sources told Fastmarkets.This was up from 312,000 tonnes of rebar consumed in May 2020, but down from 658,000 tonnes of rebar in June 2020, sources added.The reasons behind Egypt's falling rebar consumption were the Eid al-Adha holidays at the end of July as well as the const...Read More
The Brazilian ferrous scrap sector has renewed its efforts to secure supply deals on longer-term contracts with the country's two top steelmakers, ArcelorMittal and Gerdau, which currently buy in the spot market, according to scrap materials association Inesfa.Other producers which use scrap as input - such as Grupo Simec, Companhia Sider??rgica Nacional (CSN) and Ternium - already engage in contr...Read More
The Turkish steel mills went through the first working day of the week making no deep-sea scrap bookings, adding to a week-long silence in the deep-sea markets, Fastmarkets heard on Monday August 17.Turkish steel mills paused their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) reached $285 per tonne cfr for US- and Baltic Sea-origin material.Market participants expected the mil...Read More
The board of directors of Brazil-based miner Vale has approve a project to expand capacity in the miner's Serra Sul iron ore site, in the country's northern Caraj??s region, by 20 million tonnes to 120 million tonnes per year. The Serra Sul 120 project will expand the production capacity of Vale's S11D mine and plant, which is the main unit in the Caraj??s region, with start-up expected to the fir...Read More
The seaborne premium hard coking coal fob price dropped on Monday August 17 following recent transactions, while participants said that the ex-China markets are now more active than the cfr market. Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.55 per tonne, down $1.29 per tonne Premium hard coking coal, cfr Jingtang: $115.02 per tonne, down $0.07 per tonneHard coking coal, fob DBCT:...Read More
Iron ore fines prices held steady in the physical market on active trading on Monday August 17, largely due to low mid-grade fines port inventories in China and despite a decrease in Dalian Commodity Exchange futures values, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $122.44 per tonne, down $0.50 per tonne62% Fe low-alumina fines, cfr Qingdao: $121.50 pe...Read More
Prices for seaborne iron ore pellets strengthened in the week ended Friday August 14 while those for concentrate edged up.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $125.47 per tonne, up $0.78 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $134.14 per tonne, up $3.10 per tonne.Key driversSeveral traders noted that offers for several cargoes of pellets issued last week were h...Read More
Chinese lithium producer Tianqi has announced that company president Vivian Wu submitted a written letter of resignation on August 12, according to a filing to the Shenzhen stock exchange on Friday August 14.Wu's term of office was scheduled to end in 2023. She cited "personal reasons" for her decision.Tianqi chairman Jiang...Read More
China's hot-rolled coil prices gained some strength on Monday August 17 after buyers stepped up on restocking amid rising futures.DomesticEastern China (Shanghai): 4,060-4,080 yuan ($584-587) per tonne, up 20 yuan per tonneSeveral Shanghai-based traders said trading activity had picked up on Monday compared with the last few working days of last week, which pushed prices upward.Market sentiment wa...Read More