Global ferrous scrap prices increased in the week ended October 8 in response to improving downstream demand for billet and rebar.Turkish mills pay higher prices on improving downstream demandUnited States sells a bulk cargo to Turkey at a $5-per-tonne increaseVietnamese buyers opt for bulk HMS 1&2 (80:20) cargoes from US, AustraliaTaiwanese buyers continue to purchase containerized cargoesIndian...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board on the morning of Friday October 8, while those on the London Metal Exchange were for the most part stronger, as were Asia-Pacific equities.Today's focus will be on the US employment report.Market participants relieved that US Senate agreed to lift debt limit ceiling until December.Oil prices and US treasury yields rise f...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
The ferro-chrome market is facing growing pressure to decarbonize from downstream, with the need to cut carbon emissions becoming increasingly accepted among producers, traders and consumers.Alloys are not currently included in the Carbon Border Adjustment Mechanism (CBAM) - the European Commission's flagship policy to lower carbon emissions and defend domestic industries such as steel from extern...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
Deliverable base metals stocks in Shanghai Futures Exchange-registered warehouses all increased in the week to Friday October 8, according to the exchange's weekly report.Due to China's National Day holiday on October 1-7, there was just one trade day this week.Tin, nickel, and copper stocks all increased significantly, with tin climbing the most in percentage terms.On Friday, the tin stockpile me...Read More
Prices for shredded steel scrap imported into Pakistan and India took a sharp upturn in the week to Friday October 8, on a pick-up in demand, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $ 535.07 per tonne on Friday, up from $508.69 per tonne one week previous.Deals were initially heard at $530-535 per tonne be...Read More
Brazilian slab export prices decreased in the week ended Friday October 8 amid continuing weak buying activity and strong competition from other regions.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was down to $760-780 per tonne on Friday, down by $20 from $780-800 per tonne on October 1.Bids for Brazilian material were heard close to $720 per tonne fob in...Read More
The zinc concentrate market was broadly stable in the fortnight to Friday October 8, with Chinese buyers mostly away for the National Day holidays.Fastmarkets assessed the zinc spot concentrate treatment charge (TC), cif China at $75-88 per tonne on Friday, unchanged from two weeks prior.An offer of Antamina material was reported at low-to-mid $60s per tonne, with suppliers citing the seasonal pro...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 process it applies.Fastmarkets assessed Cobalt...Read More
Carbon steel plate prices in the United States were stable on Friday October 8, unchanged from the record high reached the previous week following the latest round of mill price hikes.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US was at $89 per hundredweight ($1,780 per short ton) on Friday, steady week on week but more than triple the $29 per cwt recorded o...Read More
Brazil's domestic price for steel reinforcing bar fell in October due to more balanced supply-demand fundamentals and a broader global downtrend.On the other hand, Turkish prices had rebounded in the week to Friday October 8, and market participants saw room for price increases in Brazil.Brazilian mills usually follow international trends, aiming for an average 10% premium in domestic prices over...Read More
Indian domestic secondary billet prices fell by 300 rupees ($4) per tonne week on week, despite the price of other key raw materials such as direct-reduced iron (DRI) continuing to rise.Fastmarkets' price assessment for steel billet domestic, ex-works India was down by 300 rupees per tonneat 46,300-46,500 rupees ($619-623) per tonne, compared with last week's 46,600-46,800 rupees per tonne ex...Read More
The Brazilian automotive association, Anfavea, has cut its forecast for production and sales in 2021, due to a shortage of semiconductors and logistics issues.Vehicle production is now expected to reach between 2.13-2.22 million units this year, an increase of 6-10% from the 2.01 million units produced in 2020, the association said on Wednesday October 6.The new forecast is 10-13% lower than the a...Read More
Renault Group, a leading automotive maker in both the electric vehicle (EV) and non-EV sectors has signed a Memorandum of Understanding (MoU) with Finland's Terrafame for the future supply of nickel sulfate, according to a statement on October 8. Terrafame owns and operates a nickel, zinc, cobalt and copper mine at Sotkamo in eastern Finland and earlier this year brought online a nickel sulfate pl...Read More
Hot-rolled coil prices decreased in Turkey during the week ended Friday October 8, while buyers were uncertain about the direction of prices, sources told Fastmarkets.Buyers were uncertain because China returned back to business after its National Day holidays with higher prices.Furthermore, sources expect higher energy costs to increase the cost of steel production and to push up prices, alt...Read More
Seaborne coking coal prices mostly increased after the National Day holiday in China, while China's coking coal-producing hub Shanxi province was hit by heavy rains, causing production halts at mines.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $609.79 per tonne, up $6.51 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, down $0.08 per tonnePremium hard coking coal, fob DBC...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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 process it applies.Fastmarkets assessed...Read More
Trading activity in the United States' pig iron import market was low in the week to Friday October 8 due to uncertainty about the direction of prices.Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $540 per tonne on Friday, narrowing upward by $10 from $530-540 per tonne a week earlier. The only deal in the...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More