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
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
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
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
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
Secondary aluminium alloy prices in the United States have soared due to sharp gains in silicon prices, and tight availability of the metal crucial to alloy production. "It's already having a huge impact on us," one US alloy producer said. Tightness in silicon markets has already led to alloy price spikes in Europe. The price rise is pushing up costs, but could also potentially significa...Read More
Alcoa Corp has announced plans to enter the high-purity alumina (HPA) market with the signing of a binding term sheet between Alcoa of Australia (AoA) and Western Australia-based FYI Resources.In a news release, Pittsburgh, Pennsylvania-based Alcoa said it intends to enter the HPA market "to address increasing demand for sustainable products through a joint development project."According to the te...Read More
Base metals prices on the London Metal Exchange were mixed at the close on Friday October 1, but the copper price was the star performer closing 2.1% higher.The three-month copper price closed at $9,128 per tonne, recovering from Thursday's dip when it closed at $8,936.50 per tonne. It hit a high of $9,143 per tonne earlier in the day."Thursday's sell-off [for copper] could be either due to invest...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
The liquidation of Zambia's Konkola Copper Mines (KCM) will continue after the high-profile arrest of the provisional liquidator appointed by former president Edgar Chagwa Lungu.Milingo Lungu, the lawyer appointed to run Zambia's biggest integrated copper producer, has been arrested and charged with money laundering, according to a statement from the Zambian government on Wednesday September 29.&n...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
Due to a technical error, the September monthly averages for the following prices were noted as being for October rather than September.MB-STE-0009 - Steel galvanized coil 1mm export, fob main port China, $/tonneMB-STE-0141 - Steel billet import, cfr Manila, $/tonneMB-STE-0144 - Steel hot-rolled coil index export, fob main port China, $/tonneMB-STE-0145 - Steel cold-rolled coil export, fob China m...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
Demand for coated steel coil in Turkey was very weak during the week to Friday October 1, with prices decreasing further, sources told Fastmarkets.Stock levels for the product were enough for buyers to wait and see how low prices would go, sources said.Hot-rolled coil prices kept decreasing as well, so buyers continued toexpect more price cuts for coated coil.Fastmarkets' weekly price assessment f...Read More
Poland's steel wire rod producers decreased their offers for October due to weak buying activity and cheaper imports, sources told Fastmarkets.Offers from local producers for October material were heard at 3,800-3,900 zloty ($953-978) per tonne delivered, down sharply from the initial September rolling offers of 4,100-4,230 zloty per tonne.The domestic wire rod market has been downbeat in Septembe...Read More
The market for pig iron exports from Brazil was stable during the week to Friday October 1 because suppliers have full order books until late December-January.Fastmarkets' price assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $480 per tonne on Friday, stable week on week."We are sold out till January, so right now we are not...Read More
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