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
Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Under the new structure, Tata Steel Europe will no longer exist as an operational organization; Tata Steel Netherlands and Tata Steel UK will operate as two independent companies.Tata Steel started national-level consultations t...Read More
Stainless steel prices continue to register new highs around the end of the first half of 2021 and steelmakers continue to enjoy outsized margins.They have responded in recent months by increasing their output, which has now pushed above pre-pandemic levels and will eventually restore balance to the market.For now, though, supply gaps are still being filled and buyers find themselves competing aga...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 29 that are worth another look....Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
The suspension of activity in the vicinity of the Xingu dam in Vale's Mariana iron ore complex has been partially revoked, allowing the associated railway to resume activities, the Brazilian company said on Thursday September 30.The Regional Labor Superintendence (SRT) had issued an order to partly reverse the suspension of operations to allow the resumption of transportation along the Vit??ria-Mi...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...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 Cobalt standard...Read More
Rising demand led to higher ferrous scrap prices for material imported into Turkey in the week to Friday October 1, while prices in most other markets were comparatively lackluster. Turkish mills were increasingly active in the market over the week, leading to an uptick in regional import prices United States sellers were able to sell at higher levels amid an increased appetite for scrap in Turkey...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 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
Five key global lithium producers SQM, Ganfeng Lithium, AMG Brazil, Orocobre and Pilbara Minerals have announced the setup of the International Lithium Association (ILiA), which aims to provide a central voice for lithium producers and to promote the sustainable development of a global battery value chain.The founding members account for over half of current global lithium production, according to...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
Rising demand led to higher ferrous scrap prices for material imported into Turkey in the week to Friday October 1, while prices in most other markets were comparatively lackluster. Turkish mills were increasingly active in the market over the week, leading to an uptick in regional import prices United States sellers were able to sell at higher levels amid an increased appetite for scrap in Turkey...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 rally in Chinese lithium prices paused in the week to Thursday September 30, with sentiment turning slightly more cautious owing to power restrictions being implemented in some battery materials production hubs.Chinese lithium prices stabilize; hydroxide trades still active ahead of week-long National Day holiday (October 1-7).Seaborne Asian lithium market also stable, but spot activity thins....Read More
Trading activity was limited in the seaborne market on Friday October 1 during the start of the Chinese holiday.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $115.79 per tonne, down $3.44 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.54 per tonne, down $3.40 per tonne58% Fe fines high-grade premium, cfr Qingdao: $88.06 per tonne, down $3 per tonne65% Fe Brazil-origin fines, cfr Qin...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 1.ChinaHebei Iron & Steel Group (HBIS) hiked its October tender price for silico-manganese to 12,800 yuan ($1,979) per tonne, up by 4,150 yuan per tonne (48%) from that for September-delivery.The sharp increase was attributed to lingering production restrictions among smelters caused by the...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