The latest forecasts from Fastmarkets' team of analysts are ready to view.The recent price fall in the iron ore market signals the start of a downturn, after prices averaged at the highest level in almost a year in June. A combination of both supply-related events in Brazil and demand factors in China have put pressure on prices. Vale has received permit to resume mining operations in Itabira, whi...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
The pig iron market in the United States was soft and quiet during the week ended Friday July 3 because of the country's Independence Day holiday and expectations of lower scrap prices.Fastmarkets' weekly price assessment for pig iron, import, cfr Gulf of Mexico, US, was $320-325 per tonne on Friday, down by $5 per tonne from $325-330 per tonne a week before.Sales were heard to the US from the nor...Read More
The inter-merchant spot price for light iron scrap in the UK was steady in the week ended Friday July 3, extending a run of stability into a third week, with the market supported by relatively low volumes of scrap being delivered into yards, trade sources said.The UK market has also been supported by steady purchasing in the European steel scrap export market by traditional destinations such as Tu...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Friday July 3, falling by more than 1.2% over the afternoon against low turnover, while nickel futures slipped below nearby support levels. Copper's underlying price on the LME closed at $6,017 per tonne on Friday afternoon, down from an intraday high of $6,085 per tonne, but above a daily low of $5,987...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Aluminium billet premiums in Brazil and Thailand edged lower on Friday July 3 due to continued poor demand, while liquidity for billet across the globe remained low. Stagnant European premiums Brazil under pressure Thailand edges lower Lack of demand doesn't dampen US market European premiums mostly stable Demand in Italy for aluminium billet increased slightly as the third qua...Read More
The power supply to the Paragominas bauxite mine, in the state of Par?? in northern Brazil, has been restored, producer Hydro said on Friday July 3. With production at Paragominas now resumed, alumina refining is being ramped back up at the company's Alunorte refinery. Three power transmission towers overturned on June 20, causing a power outage at Paragominas, Fastmarkets reported earlier. "The t...Read More
The spot market remained subdued this week but buyers are picking up copper concentrates at low levels while the Chilean coronavirus situation remains precarious, sources said on Friday July 3.Fastmarkets' benchmark copper concentrate treatment and refining charge (TC/RC) index stood at $46.60 per tonne/4.66 cents per lb on Friday July 3, largely flat from 46.80 per tonne/4.68 cents per lb a week...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia, on Friday July 3. The index is at its highest since March 26, 2020, up 4.4% since the beginning of June. https://www.metalbulletin.com/My-price-book.html?Price=42047 Key drivers: Chinese demand increased following production cuts, a higher SHFE aluminium price and confirmation that Chalco is idling 1 mill...Read More
The volume of recoverable copper reserves at Rio Tinto's Oyu Tolgoi mine has dropped by 15% in the latest mine plan, according to a regulatory filing released on Friday July 3. The reductions have been significant at Oyu Tolgoi, which is one of the world's largest known copper and gold deposits. The Australia-listed miner said the estimate of recoverable copper from the Mongolian project was now 6...Read More
Domestic transaction prices for hot-rolled coil in Northern Europe were largely stable day on day on Friday July 3 after a week of increases, while steelmakers are targeting further rises, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?402.00 ($452.50) per tonne on Friday July 3, up by ?,?0.48 per tonne day on day from ?,?...Read More
CIS export billet prices fell during the week to Friday July 3, pressured by lower bids from customers amid insufficient demand, sources told Fastmarkets.Most mills took a wait-and-see position, preferring to assess the situation in the market, while those who offered indicated prices at around $370 per tonne fob Black Sea or the equivalent. This is down from $370-375 per tonne fob last week."Mill...Read More
Domestic prices for steel rebar in Poland widened in the week to Friday July 3, supported by good demand both domestically and abroad, sources told Fastmarkets.Buying in the Polish rebar market was good in June and is supposed to remain strong until the middle of July at least, they added."The vacation season is here, so even though regular activities have been interrupted by [...Read More
Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil were unchanged in the week to Friday July 3 on stable hot-rolled coil prices and moderate demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey was $430-440 per tonne on Friday, unchanged since June 26.HRC is the base material for coated coil.Domestic pricesLo...Read More
Domestic prices for hot-rolled and cold-rolled coil remained stable in Turkey during the week ended Friday July 3, with demand weak, sources have told Fastmarkets.Flat steel producers in the country were accepting orders for September.The reason for the poor demand was that buyers had already booked enough material for July and August, and wanted to wait and see if end-user consumption would incre...Read More
Pig iron exported from the Commonwealth of Independent States (CIS) declined during the week to Thursday July 2 on lower demand from China and lower iron ore and scrap prices, sources told Fastmarkets.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $305-310 per tonne on July 2, down from $311-318 per tonne with no new deals...Read More
The Turkish scrap import market moved up on Friday July 3, after a further deep-sea cargo was booked from the United States, sources told Fastmarkets.A steel mill in the Samsun region booked a US cargo comprising 17,000 tonnes of HMS 1&2 (80:20) at $260 per tonne and 13,000 tonnes of shredded at $265 per tonne.This compares with a US cargo booked earlier in the week which valued HMS 1&2 (80:20) at...Read More
The price of ferrous scrap in containers imported into India edged downward again over the past week, with demand remaining at low levels, sources told Fastmarkets on Friday July 3.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $270.18 per tonne on July 3, down from $274.28 per tonne the Friday before.Market sources reported offers of shredded material...Read More
Seaborne iron ore prices went up on Friday July 3, crossing the $100 per tonne threshold once more after falling below the mark in late June. A rise in prices in both the Chinese iron ore futures market and the 62% Fe July swaps contract on the Singapore Exchange (SGX) contributed to the increase.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $100.65 per tonne, up $1.18 per tonn...Read More