Key data from the pricing sessions in Asia, Europe and the United States during the week ending Friday July 10.Europe The high-carbon market continued to soften in response to weakening demand with Europe entering the summer slowdown.The low-carbon ferro-chrome market tumbled further to a multi-year low with producers slashing offer prices to win available...Read More
The posting of 1.81 trillion yuan in new Chinese loans early in the European trading session on Friday July 10 led to a rally across all London Metal Exchange three-month base metals prices.LME base metals futures moved higher as fund positioning became less bearish, with bids moving into firmly bullish territory, and all metals, apart from tin, ended the day up compared with Thursday's close."You...Read More
A vast amount of investment will be required to achieve meaningful change in the carbon footprint of aluminium across a broad portion of the industry, and the commercial impetus is not there yet, according to the secretary general of the International Aluminium Institute (IAI). Nonetheless, the industry needs to meet the challenge of changing consumer expectations and work together to collectively...Read More
Aluminium has an opportunity to play a key role in the government-led rebuilding of economies following the Covid-19 pandemic, including in the drive to a low-carbon economy as well as developments in infrastructure, transportation and construction, the secretary general of the International Aluminium Institute (IAI) said.Miles Prosser told Fastmarkets in an interview that this opportunity wi...Read More
Caution over South American copper mining supply disruption weighed on processing charges for copper concentrate in the week to Friday July 10. This week, miner-to-trader deals were most settled in the range of the mid-$30s to low $40s per tonne, although a Carmen concentrate tender for delivery in the second half of this year was reportedly awarded at numbers below $30 per tonne / 3 cents per lb....Read More
An overview of the battery raw materials markets and their latest price moves.Read More
KSM Castings has become the second German diecaster to start administrative proceedings due to Covid-19, with the company filing for bankruptcy on July 2, sources close to the matter told Fastmarkets. Fastmarkets understands the company, based in Hildesheim, Germany, began voluntary administration proceedings at Hildesheim District Court in a bid to restructure and reposition itself in what many p...Read More
China is unlikely to dominate production growth in the aluminium market in the next two decades in the same way it has over the past 20 years, according to the secretary general of the International Aluminium Institute (IAI).There are several reasons for this, including a move by the Chinese government to shift the focus to high-value aluminium products and cap smelting capacity at around current...Read More
The domestic rebar price in Brazil increased in July, with a 10% hike successfully implemented by producers due to previous moves to reduce supplies to match falling demand and due to resilience in the construction sector amid the Covid-19 pandemic.Fastmarkets' latest price assessment for steel reinforcing bar (rebar) domestic monthly, delivered Brazil was 2,410-2,530 Reais ($451-474) per tonne on...Read More
The price range for exports of India-origin hot-rolled coil has widened, with the country's mills booking shipments to regions besides the traditional export outlets in Southeast Asia.The price of steel hot-rolled coil (commodity), export, fob main port India, was assessed by Fastmarkets at $420-435 per tonne on Friday July 10, widening downward from last week's assessment at $430-435 per tonne.Ac...Read More
Import prices of flat-rolled steel increased slightly in South America during the week to Friday July 10 because new offers for September-shipment cargoes continued the recent uptrend.Demand from the continent was also expected to recover, with Peru, Colombia and Ecuador slowly returning to the market following a long quarantine period intended to prevent the spread of Covid-19 in those countries....Read More
European steel producers have been limiting their outputs in accordance with the persistently weak levels of current demand, especially from the automotive industry, while the region recovers from Covid-19-pandemic lockdowns.Tata Steel EuropeTata Steel Europe was reported to have been working at about a 70% capacity utilization rate from April 1 to June 30, the company said in a provisional report...Read More
Domestic prices for hot-rolled coil in Northern Europe were largely stable day on day on Friday July 10, but steelmakers are pushing for price rises, sources told Fastmarkets.Domestic HRC prices across Europe have been supported by lack of workable import offers and tougher safeguard measures.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?404.00...Read More
Turkish prices for domestic and export hot-dipped galvanized coil (HDG) and color-coated coil fell in the week to Friday July 10, following a dip in feedstock prices. Hot-rolled coil is the base material for coated coil, and the Turkish price widened downward this week, having been stable for two consecutive weeks prior. Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey...Read More
The ferrous scrap market in the United States suffered a large downward correction during the July trade, and more downside might be in store for August given a supply overhang, only marginal demand and depressed pricing for finished steel products."The July trade is a reminder of how bad things really are in this country. May and June were only up on supply concerns," a shredder source said. ...Read More
Pig iron export prices from the south of Brazil showed signs growing strength in the week to Friday July 10, on a resumption of sales to China. Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $307-315 per tonne on Friday, narrowing down from $307-320 per tonne a week ago. ...Read More
Steel scrap prices in the Asian markets have recovered following the Kanto auction in Japan, while Turkish deep-sea scrap import values inched down at the end of the week due to weak demand for rebar.Turkish steel producers resumed their deep-sea scrap purchases at the end of the week at slightly lower pricesUS export markets broke silence at the end of the week with fresh cargoes to TurkeyJapanes...Read More
China bought at least 290,000 tonnes of pig iron from Brazil and Russia during the week ended Friday July 10, supporting global pig iron prices, market sources have told Fastmarkets.Suppliers in the south of Brazil sold three cargoes each of 60,000 tonnes for October shipment to international traders. The final price in the Chinese market, including the traders' margin, was $343-344 per tonne cfr...Read More
The pig iron market in the United States went up during the week ended Friday July 10 because of external factors such as low availability globally and high demand in China.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $330 per tonne on Friday, up from $320-325 per tonne a week before.One booking of pig iron from the Commonwealth of Independent States was r...Read More
The inter-merchant spot price for light iron scrap in the UK was steady for the fourth consecutive week in the week to Friday July 10, supported by relatively low volumes being delivered into yards and steady export trade, industry sources said.UK steel scrap supply has seen lower scrap generation due to the economic impact of the Covid-19 pandemic and the national lockdown which is gradually bein...Read More