Latin American crude steel output decreased by 14% year on year in October due to slower global economic growth and blast furnace outages in Brazil, regional steelmakers' association Alacero said on Tuesday December 3.Production reached approximately 4.9 million tonnes in October compared with about 5.67 million tonnes in the same month last year. Output for the first 10 months of 2019 totaled 50....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 4.Key drivers The scrap markets were down in the past week, with supply offer prices dropping against slowing demand in the run-up to year-end holidays. Metals producers typically run down their feedstocks in December, a time usually set aside for book-squaring, banking profits and settling accounts. The alloy market...Read More
Hollow steel sections prices moved up across Europe over the past week due to increases in feedstock costs, market sources told Fastmarkets on Wednesday December 4.Fastmarkets' weekly price assessment of steel sections (medium), domestic, delivered Northern Europe, was ?,?590-600 per tonne ($653-664) per tonne on Wednesday, up from ?,?580-590 per tonne a week earlier."I see some price lists coming...Read More
Brazilian iron ore exports totaled 27.25 million tonnes in November 2019, a 19.8% year-on-year decrease from 33.97 million tonnes, data from the country's ministry of economy showed on Monday December 2.Shipment volumes also fell by 18.3% in comparison with 33.35 million tonnes during October 2019, according to the ministry.Figures from October were revised upward after the foreign trade secretari...Read More
Demand for flat steel products in Turkey was strong in November because of purchases for re-stocking, market participants told Fastmarkets on Wednesday, December 4.Local producers have now filled their order books until late February, sources added, and have started to accept orders for early-March production.Local demand was weak in Turkey in October because of decreasing prices, but improved in...Read More
Turkish exports of flat steel products fell by 1.63% year on year to 477,680 tonnes in October 2019, according to the Turkish Statistical Institute (TUIK).This compares with a volume of 485,614 tonnes in October 2018, the institute said.Cold-rolled flat steel exports fell considerably and coated flat steel shipments also dropped, while hot-rolled flat steel exports increased.Orders for C...Read More
As 2019 draws to a close, Fastmarkets examines the underlying factors driving the spread between US hot-rolled coil and steel reinforcing bar prices throughout the year.Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US averaged $33.12 per hundredweight at the midpoint in January-November, while the steel hot-rolled coil index, fob mill US averaged $29.77 per cwt, creatin...Read More
Spot demand for tin diminished further in the week to Tuesday December 3, with the focus now on annual contracts and backwardation returning to the London Metal Exchange price for the metal.The 99.9% European tin premium holds at its recent lower levelThanksgiving holiday cuts into trade in the United StatesAsian premiums not buoyed by earlier production cuts.European premiums flat on ubdued deman...Read More
Brazilian iron ore exports totaled 27.25 million tonnes in November 2019, a 19.8% year-on-year decrease from 33.97 million tonnes, data from the country's ministry of economy showed on Monday December 2.Shipment volumes also fell by 18.3% in comparison with 33.35 million tonnes during October 2019, according to the ministry.Figures from October were revised upward after the foreign trade secretari...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday December 4, with upward movement in the price of the galvanizing metal supported by strong turnover, while nickel futures took a divergent path over the afternoon in a 1.6% sell-off.Zinc's underlying price on the LME closed at $2,245 per tonne in the afternoon, gaining just under 2% from Tuesday...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 4 that are worth another look.French special steelmaker Ascoval, part of the British Steel group, is to supply 140,000 tonnes per year of semi-finished products, rectangular blooms, to rail manufacturing specialist BSFR (British Steel France Rail) to be processed into rails for the SNCF R?(C)seau national train networ...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Wednesday December 4, with upward movement in the price of the galvanizing metal supported by strong turnover, while nickel futures took a divergent path over the afternoon in a 1.6% sell-off.Zinc's underlying price on the LME closed at $2,245 per tonne in the afternoon, gaining just under 2% from Tuesday...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 4.Please click...Read More
The three-month zinc price on the London Metal Exchange was higher during morning trading on Wednesday December 4, with its price action bolstered by the fresh cancelation of 2,325 tonnes in addition to a narrowing of the metal's benchmark cash/three-month spread backwardation. Zinc's outright price on the LME was recently seen trading at $2,240 per tonne, a gain of $38 per tonne against Tuesday's...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday December 4.Please click...Read More
An overview of the noble alloys markets and their latest price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday December 4 that are worth another look.French special steelmaker Ascoval, part of the British Steel group, is to supply 140,000 tonnes per year of semi-finished products, rectangular blooms, to rail manufacturing specialist BSFR (British Steel France Rail) to be processed into rails for the SNCF R?(C)seau national train networ...Read More
The Indian lead premium surged to a two-month high this week while the three-month LME price struggles but global zinc premiums held firm despite softer forward spreads.Indian secondary lead premium hits two-month high US lead premium flat; impact from Belledune smelter shutdown yet to emerge Taiwan 2020 long-term lead supply contract signed; spot premium unchanged European market steady despite s...Read More
A sharp drop in the US Midwest aluminium premium in November was the primary reason market participants turned away from any sort of arbitrage opportunity between London Metal Exchange sheds in Asia and the United States. An ongoing aluminium stock drawdown throughout November in the US and a lingering backwardation on LME spreads pushed the premium to its lowest since March 2018. "Yet further wea...Read More
Year-end destocking continues to prolong a downturn in Shanghai copper cathode premiums but US and European markets are unchanged while annual contracts are being negotiated. Shanghai cif premiums at three month low US annual contracts in focus Large-scale cancellations of European on-warrant stocksShanghai premiums drop to three-month low, bonded premiums stable Copper cathode premiums on a cif...Read More