A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 17.Please click...Read More
Seaborne iron ore prices weakened on Wednesday June 17 amid concerns over the demand outlook for steel products.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.09 per tonne, down $0.76 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $106.43 per tonne, down $1.37 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $92.78 per tonne, down $1.23 per tonne. 65% Fe Brazil-o...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Demand outlook revisedWe are not surprised to see aluminium prices retreat from last week's high after flagging up in recent reports that they had become overbought. 'Sell-the-rally' traders will be targeting the April high now, down at $1,534 per tonne. This week we have reviewed our aluminium demand forecasts fo...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.US prices continue to hold Seamless oil country tubular goods (OCTG) and line pipe prices remained unchanged for the third straight month in June, and we expect them to remain stable through the summer before edging higher on the back of a measured rise in drilling rates.The lack of price movement in recent months does not i...Read More
The price for steel H-beams in Europe moved down Wednesday June 17, after feedstock costs in the region were settled lower than expected, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?520-550 ($587-621) per tonne on Wednesday, down from ?,?530-550 per tonne a week earlier."The [beam] price is slightly lower this week due...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday June 17.Please click...Read More
Global tin premiums were broadly static in the fortnight to Tuesday June 16, with a narrowing import arbitrage window for shipment into China doing little to sway weak demand conditions, and forward spreads continue to deter business elsewhere. Shanghai buying appetite reduces amid narrowed arbitrage. US premiums remain flat but weakening demand, widening backwardation expected to hit premiu...Read More
European Aluminium has called on the European Commission (EC) to address the distorting effects of foreign subsidies in the European Union (EU) single market and said the region's aluminium industry is buckling under the pressure of subsidized excess capacity from China.The EC can help create a level playing field for the industry in Europe and must rapidly translate the ambitions of its recently...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Aluminium: Demand outlook revisedWe are not surprised to see aluminium prices retreat from last week's high after flagging up in recent reports that they had become overbought. 'Sell-the-rally' traders will be targeting the April high now, down at $1,534 per tonne. This week we have reviewed our aluminium demand forecasts fo...Read More
Global nickel premiums were flat in the week to Tuesday June 17, with lackluster demand for physical nickel affecting all regional markets and tempering premiums as a result. Widening arbitrage loss suppresses China buying interest European sentiment mixed in subdued trading conditions US trade rangebound in oversupplied market European sentiment mixed in uncertain marketLackluster physical demand...Read More
The 99.99% cif Taiwan lead ingot premium dropped in the week to Tuesday June 16 after more material came on to the spot market, while premiums for zinc globally were stable to weaker in quiet trading conditions. Supply from India hits Taiwan primary lead premium. Zinc premiums dip in Shanghai after import arbitrage closes. Consumers are starting to resume contractual deliveries, with lit...Read More
European buyers of hot-rolled coil are anticipating price increases from domestic steelmakers after definitive safeguard measures come into force, sources told Fastmarkets on Wednesday June 17.Activity in the European HRC market has remained slow this week due to ample stocks among distributors and persistently weak demand from end consumers.Fastmarkets' daily steel HRC index, domestic, exw Northe...Read More
European domestic prices for cold-rolled coil declined over the past week due to limited trading activity, sources told Fastmarkets on Wednesday June 17.Fastmarkets' weekly price assessment for steel cold-rolled coil, domestic, exw Northern Europe, was ?,?480-490 ($542-554) per tonne on June 17, down by ?,?5 per tonne week on week from ?,?485-495 per tonne ex-works.The assessment was based on achi...Read More
Slovakia's US Steel Kosice has restarted its blast furnace No1 and a hot strip mill idled in late May due to maintenance, the company said in a second-quarter report.In the second half of May the subsidiary of US Steel idled blast furnace No1 (1.2 million tonnes of pig iron per year) to adjust output due to maintenance at its hot-strip mill (4.2 million tpy), which was originally schedul...Read More
Domestic prices for heavy steel place in Europe have been fairly stable over the week, but some mills have started to increase offers due to higher production costs, sources told Fastmarkets on Wednesday June 17.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?410-430 ($463-486) per tonne on June 17, widening up from ?,?410-425 per tonne a week ear...Read More
Wire rod prices in the United States were stable after rising lastmonth, but downward pressure has been mounting with Covid-19 pandemic-related uncertainty continuing to cast a pall over buying activity in the domestic market. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $30-31 per hundredweight ($600-620 per short ton) on Tuesday June 16,...Read More
Prices for steel mesh-quality wire rod were broadly stable in the south with Italian producers considering increases, while in the north of Europe prices declined slightly on thin trading, sources told Fastmarkets on Wednesday June 17Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe was ?,?420-440 ($475-497) per tonne on Wednesday June 17,...Read More
Most stainless scrap prices in the United States have moved lower week on week, with the market losing its upward momentum amid concerns over a possible second wave of Covid-19, the seasonal summer slowdown, limited supply and weakening demand."There has been no change in supply or demand conditions, and the London Metal Exchange cash nickel has not changed significantly from last week to warrant...Read More
Turkish steel producers continued to book deep-sea scrap for July shipment at steady prices on Wednesday June 17, sources told Fastmarkets.A steel mill in the Iskenderun region booked a US cargo, comprising 17,000 tonnes of HMS 1&2 (80:20) at $267 per tonne cfr and 15,000 tonnes of shredded at $272 per tonne cfr.Following the news of the US transaction, the change in the daily scrap indices was on...Read More
Seaborne coking coal prices were relatively stable on Wednesday June 17 and Chinese market participants believe prices will remain flat for the near term. Fastmarkets indices Premium hard coking coal, fob DBCT: $108.18 per tonne, down $0.18 per tonne Premium hard coking coal, cfr Jingtang: $117.34 per tonne, down $0.01 per tonne Hard coking coal, fob DBCT: $89.41 per tonne, unchanged Hard coking c...Read More