The Turkish deep-sea scrap import market remained quiet on Wednesday June 24, with mills continuing to push for lower prices due to weakening finished long steel demand, sources told Fastmarkets.Seel producers in the country have been staying away from deep-sea scrap purchases since the beginning of last week, when demand for rebar, especially in the local market, started to weaken.Prices for...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More
Domestic prices for heavy steel plate in Northern Europe have moved down over the past week due to limited demand, sources told Fastmarkets on Wednesday June 24.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Northern Europe, was ?,?450-470 ($508-531) per tonne on June 24, down by ?,?20 per tonne week on week from ?,?470-490 per tonne. The assessment was based on deals,...Read More
The price of steel hollow sections in Europe continued to move downward on Wednesday June 24 with the market remaining weak, sources have told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?535-550 ($604-621) per tonne on Wednesday, down from ?,?540-560 per tonne tonne a week earlier."Prices are slightly lower but demand is pickin...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
European producers of hot-rolled coil have raised their domestic prices despite trading activity remaining scarce, sources told Fastmarkets on Wednesday June 24.Some market sources questioned the success of the increase because demand levels do not support a price recovery. Others, however, believed that buyers will have to accept slightly higher prices due to high raw material costs and a lack of...Read More
Nickel premiums in all regions traded flat in the week ended Tuesday June 23, with demand for the metal being weak in all global markets.Negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange kept China trade subduedUptick in European briquette inquiries on SHFE deliverability from October failed to result in higher premiumSubdued spot trade steadied US nickel premiums....Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More
Here are five Fastmarkets stories you might have missed on Wednesday June 24 that are worth another look.The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise.The Materials Services trading arm of...Read More
The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More
Three-month base metals prices on the LME were mostly lower at the close of trading on Wednesday June 24, with thin turnover a key sign that investor sentiment remains fragile. Nickel's outright price on the London Metal Exchange was worse off this afternoon, falling by 1.26% to close at $12,547 per tonne, its lowest closing price since May 29, while turnover was at just 3,931 lots by th...Read More
Spot lead demand in Southeast Asia is still lackluster despite lockdown easing across Vietnam, Malaysia and Indonesia, while interest in spot zinc units was minimal in all regions, which left premiums unchanged in the week to Tuesday June 23. A backlog of uncleared lead cargoes sit in Indian ports in the fourth week of June, a time that typically would have been a peak production period for batter...Read More
Cost pressures kept China's domestic rebar prices from falling further on Wednesday June 24 despite a pessimistic outlook for demand in the next two months amid high production rates.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($504-508) per tonne, unchangedGross profits for rebar producers that operate blast furnaces have fallen to around 100 yuan per tonne of gross profit, 50 yuan per to...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Poised for a technical breakoutFears over a second wave of Covid-19 continue to grow, forcing prices of aluminium and the other base metals to take a pause. Our base-case scenario is that countries will respond more efficiently to contain the virus spread, so economic activity and metal demand should continue to r...Read More
Three-month base metals prices on the LME were mostly lower at the close of trading on Wednesday June 24, with thin turnover a key sign that investor sentiment remains fragile. Nickel's outright price on the London Metal Exchange was worse off this afternoon, falling by 1.26% to close at $12,547 per tonne, its lowest closing price since May 29, while turnover was at just 3,931 lots by th...Read More
The threat of Section 232 tariffs on aluminium imports from Canada into the United States has, like the great white shark following the Brody family in the universally panned film, 'Jaws: The Revenge,' returned - akin to a truly awful horror movie franchise. And that's how Neil Herrington, senior vice president for the Americas, US Chamber of Commerce, views reports that the US administration is c...Read More
Chinese copper premiums continued their uptrend in the week to Tuesday June 23, with market participants noting brand-dependent demand as a driver for the latest increases, while US and European premiums were unchanged in illiquid markets. Brand-dependent, near-term demand strengthens Shanghai premium Sellers continue to dominate in Europe Sluggish US spot market hinders premium moveme...Read More
Netherlands-based aluminium producer Aldel has signed a partnership with solar park operator Ecorus to help accelerate the development of solar power infrastructure in the region, the producer announced on Tuesday June 23.Ecorus is developing a solar power park on a site near to Aldel's smelter at Delfzijl, and the partnership will allow it to feed the entire peak output of 4.5MW from the site int...Read More
Crude steel production in Germany fell by 27% year-on-year in May 2020, following a 24% drop in April due to output adjustments made by mills to address the Covid-19-driven deterioration in steel demand, German steel federation WV Stahl said on Wednesday June 24.Germany's mills produced 2.56 million tonnes of crude steel in May, down from 3.51 million tonnes in the corresponding period of 2019, WV...Read More