The inter-merchant market for light-iron steel scrap in the UK was steady for the second week in a row in the week to Friday October 1, with major processors holding their offer prices stable to ensure a steady stream of supply into their yards, sources said.Fastmarkets' weekly price assessment for steel scrap 5C loose old light domestic, delivered inter-merchant UK was ?170-190 ($229-256) p...Read More
Turkish steel mills ended the working week with additional deep-sea cargo deals for November shipments, market participants told Fastmarkets on Friday October 1.A steel mill in the Izmir region booked a US cargo comprising HMS 1&2 (80:20) at $443 per tonne and shredded and bonus at $458 per tonne cfr. Although, the cargo composition was not yet confirmed, the seller source said. And a steel mill...Read More
Base metals prices were down on the morning of Friday October 1, extending the weakness that started to accelerate on Thursday, when the LME base metals closed down by an average of 2.3%, with tin dropping by 6.2%. The weakness was broad based with equities retreating, too. Asia-Pacific equities weaker this morning.Gold and the yen rallied on Thursday, and US treasury yields are weaker this mornin...Read More
The import pig-iron market in the United States was calm in the week to Friday October 1 because steel makers - the key buyers - preferred to wait and see in an unclear scrap market, which is a strong indicator for them.Fastmarkets' assessment of the price of pig iron, import, cfr Gulf of Mexico, US was $530-540 per tonne on Friday, unchanged week on week.Steelmakers, who are the key pig...Read More
Key data from Fastmarkets' pricing sessions in Europe, China and the United States on Friday October 1.China The ferro-silicon price in China went very bullish following the news that Qinghai, a major ferro-silicon production hub in the country, may start power cuts to meet the dual control targets of energy consumption. This has made spot availability even tighter, with many producers holding off...Read More
Price for cold-rolled and galvanized steel sheet in the United States held steady after market participants perceived an emerging balance among overall supply, inventory and demand trends for the fourth quarter.Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US was unchanged at $110 per hundredweight ($2,200 per short ton) on Thursday September 30. The assessment has risen 185....Read More
Domestic prices for hot-rolled coil in Europe were fairly stable on Friday October 1 because buyers held back from making new deals, sources told Fastmarkets.Buyers have paused purchases because they anticipate that domestic mills will soon accept lower prices. In addition, the stocks of European distributors were sufficient so they felt no pressure to get additional volumes in the short run, sour...Read More
Flat steel prices continued to fall in Turkey during the week ended Friday October 1 because of weak demand, sources told Fastmarkets.Buyers wanted to prices to flatten before placing orders and end-user demand was also weak, sources said.Domestic pricesFastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $880-900 per tonne on October 1, falling from $890-920 pe...Read More
Brazilian slab export prices were stable in the week ended Friday October 1, but sources remained concerned about recent price cuts in other regions that could affect the market.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was unchanged at $780-800 per tonne on Friday.Producers tried to maintain offers at around $800 per tonne fob, but buyers were resistant.Inv...Read More
Spot interest in copper concentrate has been minimal in the week to Friday September 30, ahead of China's National Day holiday. Clean tonnages for smelter purchase were in the mid-$60s, below the Copper Smelters Purchase Team's fourth quarter pricing floor of $70 per tonne. A community blockade at MMG's Las Bambas complex in Peru, which started two weeks ago, could...Read More
Aluminium scrap prices in the United States continued to be underpinned by robust demand domestically and overseas, while futures prices on the London Metal Exchange remained high.Healthy business activity, particularly in the non-automotive side of the sector, pushed up some secondary smelter grades week on week, with the Fastmarkets assessment of 1-1-3 sows edging a penny either side to a range...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 1.Susan Zou, Yingchi Yang and...Read More
Demand for low-carbon aluminium units in Europe remains strong, especially for value-added products (VAP), market participants told Fastmarkets on Friday October 1.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $20-30 per tonne on Friday October 1, up from $15-25 per tonne on September 3.Market participants noted a clear gap between different VAP un...Read More
Base metals prices were down on the morning of Friday October 1, extending the weakness that started to accelerate on Thursday, when the LME base metals closed down by an average of 2.3%, with tin dropping by 6.2%. The weakness was broad based with equities retreating, too. Asia-Pacific equities weaker this morning.Gold and the yen rallied on Thursday, and US treasury yields are weaker this mornin...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Spot interest in copper concentrate has been minimal in the week to Friday September 30, ahead of China's National Day holiday. Clean tonnages for smelter purchase were in the mid-$60s, below the Copper Smelters Purchase Team's fourth quarter pricing floor of $70 per tonne. A community blockade at MMG's Las Bambas complex in Peru, which started two weeks ago, could...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 1.Susan Zou, Yingchi Yang and...Read More
Demand for low-carbon aluminium units in Europe remains strong, especially for value-added products (VAP), market participants told Fastmarkets on Friday October 1.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $20-30 per tonne on Friday October 1, up from $15-25 per tonne on September 3.Market participants noted a clear gap between different VAP un...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More
Since mid-September, a swathe of provincial governments in China have imposed power cuts and rationing on local industrial users, which could cast a bigger influence on downstream fabricating sectors than previous curbs, sources said.This is the second time that industrial users have received power rationing orders in the year. The first was in July, when hot weather strained the country's grid. P...Read More