Steel wire rod prices in Northern Europe were broadly flat in the week to Wednesday October 13, with trading activity limited, but demand is expected to recover soon, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh quality), domestic, delivered Northern Europe was ?,?800-820 ($924-948) per tonne on Wednesday, same as seven days earlier.Daily demand for wire r...Read More
Seaborne iron ore prices continued to fall on Wednesday October 13, after a formal announcement on upcoming winter restrictions by China's Ministry of Industry & Information Technology (MIIT).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $124.17 per tonne, down $4.83 per tonne62% Fe low-alumina fines, cfr Qingdao: $125.09 per tonne, down $5.08 per tonne58% Fe fines high-grade premium, cfr...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 13.Key drivers The European ferro-titanium price range widened higher in the week to Wednesday October 13 after new deals were reported, although overall trading activity was slow amid muted consumer buying interest. There was industry talk of some lower-priced deals, although sources said these were outliers to typical trad...Read More
Domestic and imported steel reinforcing bar prices in the United States were sideways on Wednesday October 13, and market participants expect it to stay that way for a few more weeks at least.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday October 13, unchanged since August 11 but up by 65.55% from $29.75 per cwt...Read More
Higher electricity prices have added to the production costs of chrome alloy, especially low-carbon ferro-chrome, during the week to Tuesday October 12, at a time when the market was already short of material with prices at multi-year highs.Fastmarkets assessed ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe at $3.05-3.25 per lb Cr on Tuesday, up 7-15 cents (+3.6%) from $2.90-3.18 per lb...Read More
Spot premiums for P1020 aluminium ingot into main Japanese Ports (MJP) have struggled to find clear direction since the settlement of fourth-quarter MJP premiums on Tuesday October 5, despite quarterly negotiations ending on a strong note.A combination of slow buying, poor LME spreads and a closed arbitrage into China capped the rise in spot premiums since the settlement.Fastmarkets reported a fou...Read More
Turkish steel producers continued to pay higher prices for deep-sea scrap cargoes on Wednesday October 13, market participants told Fastmarkets.Late on Tuesday October 12, a steel mill in the Marmara region booked a Baltic Sea cargo comprising 12,000 tonnes of HMS 1&2 (80:20) at $470 per tonne and 18,000 tonnes of shredded at $490 per tonne cfr.On Wednesday, a steel mill in the Izmir region paid $...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing...Read More
The rise in October's Kanto Tetsugen auction boosted sentiment in the Japanese scrap market and supported export offers from Japan, sources told Fastmarkets on Wednesday October 13. Japan local market pushes export offers higher Vietnam buyers increase bids Chinese buyers in wait-and-see mode due to losses in futuresJapan Offer prices for bulk cargoes of steel scrap from Japan rose again on Wedn...Read More
Steel mills announced price increases for November-delivery hot-rolled sheet and heavy plate in Russia's Central District around Moscow on Monday October 11, but are likely to face stiff opposition from buyers, sources told Fastmarkets this week.Market participants said they doubted that such fast rates of increase could be absorbed by the market, especially considering the onset of the off season...Read More
A price gap between spot and tender prices developed in China's ferro-chrome market in early October after sellers in the spot market raised their prices because of supply tightness, while major stainless steel mills decided to keep their tender prices flat from the previous month.Offers heard in the spot market continued to rise after China's National Day holiday on October 1-7, due to limited av...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 13.Key drivers The European ferro-titanium price range widened higher in the week to Wednesday October 13 after new deals were reported, although overall trading activity was slow amid muted consumer buying interest. There was industry talk of some lower-priced deals, although sources said these were outliers to typical trad...Read More
The rise in October's Kanto Tetsugen auction boosted sentiment in the Japanese scrap market and supported export offers from Japan, sources told Fastmarkets on Wednesday October 13. Japan local market pushes export offers higher Vietnam buyers increase bids Chinese buyers in wait-and-see mode due to losses in futuresJapan Offer prices for bulk cargoes of steel scrap from Japan rose again on Wedn...Read More
Domestic and imported steel reinforcing bar prices in the United States were sideways on Wednesday October 13, and market participants expect it to stay that way for a few more weeks at least.Fastmarkets' assessment for steel reinforcing bar (rebar), fob mill US was $49.25 per hundredweight ($985 per short ton) on Wednesday October 13, unchanged since August 11 but up by 65.55% from $29.75 per cwt...Read More
Higher or more volatile prices for critical minerals such as lithium, cobalt, nickel, copper and rare earth elements could slow global progress toward a clean-energy future or make it more costly, according to the International Energy Agency (IEA).In its World Energy Outlook report released on Wednesday October 13, the IEA said that price rallies for key minerals in 2021 could increase the costs o...Read More
Europe now has the world's most expensive silicon, with prices there and in the United States reaching new all-time highs just as prices have begun to trend down in China - where a silicon shortage started the global uptrend.The West and China moved in opposite directions in Fastmarkets assessments for the week to Friday October 8, with Europe's price for standard silicon at its highest level sinc...Read More
Seaborne coking coal prices in the cfr China market were broadly stable on Wednesday October 13, while fob prices inched lower amid limited buying interest due to high offers, market sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $608.85 per tonne, down $0.10 per tonne Hard coking coal, cfr Jingtang: $559.46 per tonne, up $1.16 per tonnePremium hard coking coal, fob DBCT:...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 13 that are worth another look.Pipe producer Vallourec and Brazilian tube, bar and stainless steel distributor Grupo A??otubo announced a joint venture to supply steel tubes and pipes to industrial clients.Major zinc producer Nyrstar will cut production...Read More
Hot-rolled coil prices in the United States dipped slightly once again - remaining under $97 per hundredweight ($1,940 per short ton) for the fourth consecutive business day - while spot tonnages remained scarce and contract negotiations for 2022 supply were said to be in the final stretch.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.79 per cwt ($1,935.80 per t...Read More