Export prices for steel billet from Iran continued to strengthen in the week to Wednesday September 22, supported by demand in the Asian market.One of the country's major exporters of semi-finished steel products, Khouzestan Steel, sold a cargo of billet on Wednesday, scheduled for shipment in November, at $635 per tonne fob southern ports of Iran.Several market sources reported another billet sal...Read More
Low-carbon wire rod prices in the United States rose by $30 per short ton ($2.50 per cwt) in September, to fresh record highs for both domestic and import product.Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US was $57.50-60.50 per hundredweight ($1,150-1,210 per ton) on Tuesday September 21, up by 2.61% from $56-59 per cwt on August 1...Read More
Dip buying and the resumption of trading in Asia gave a boost to most metals on the LME on the morning of Wednesday September 22, with tin rising the most while lead was the only metal still trending to the downside. Tin's futures contract was up 5% on Wednesday at 9am to $35,500 per tonne, compared with Tuesday's $33,820 per tonne, with the metal also hitting $35,680 per tonne during early tradin...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 22, with feedstock costs continuing to fall ahead of the renewal of European import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe, was ?,?1,350-1,400 ($1,583-1,642) per tonne on Wednesday September 22, down from ?,?1,400-1,430 per...Read More
Seaborne iron ore prices rose sharply on Wednesday September 22 amid firmer prices traded on front-month swaps and on Chinese futures, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $108.70 per tonne, up $15.67 per tonne62% Fe low-alumina fines, cfr Qingdao: $110.65 per tonne, up $16.69 per tonne58% Fe fines high-grade premium, cfr Qingdao: $76.25 per tonne, up $11.38 per tonn...Read More
Hot-rolled coil prices in the United States consolidated around the $97-per-hundredweight ($1,940-per-short-ton) level on Wednesday September 22, while the market remains engaged in thrashing out annual contract negotiations.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.94 per cwt ($1,938.80 per short ton) on September 22, a decrease of 0.57% from $97.50 per cwt...Read More
The price of steel hollow sections in Europe softened in the week to Wednesday September 22, with feedstock costs continuing to fall ahead of the renewal of European import quotas, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe, was ?,?1,350-1,400 ($1,583-1,642) per tonne on Wednesday September 22, down from ?,?1,400-1,430 per...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Limited choice as China resumed business on Wednesday September 22, led to Fastmarkets' index for premium hard coking coal, cfr Jingtang reaching a record high of $600.82 per tonne, sources said. Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $600.82 per tonne, up $35.05 per tonneHard coking coal, cfr Jingtang: $555.05 per tonne, up $63.08 per tonnePremium hard coking coal, fob DBCT: $...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 22.Please click...Read More
Brazilian iron ore and base metals producer Vale will have a new chief financial officer from November 1, because current CFO Luciano Siani Pires has been nominated to become the company's vice president of strategy and business transformation, it said on Tuesday September 21.Siani has held the role of CFO for nine years. His replacement will be Gustavo Pimenta, currently CFO at United States-base...Read More
Copper's three-month price was steadily above $9,000 per tonne, and tin was up by 3.4% with most prices on the London Metal Exchange rebounding above their psychological levels amid dip-buying and a softer dollar on the afternoon of Wednesday September 22. Copper's closing price on Wednesday was at $9,286 per tonne, a 3.5% increase on Tuesday's price. The red metal had touched $8,810 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 22 that are worth another look.A group including Anglo American, BHP, Rio Tinto and Trafigura has called on governments to work together with the private sector to deliver the policies and investments needed...Read More
Seaborne iron ore prices were largely flat on Tuesday September 21 with limited trading activity in the physical market taking place amid a Chinese holiday. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $93.03 per tonne, up $0.05 per tonne62% Fe low-alumina fines, cfr Qingdao: $93.96 per tonne, down $0.11 per tonne58% Fe fines high-grade premium, cfr Qingdao: $64.87 per tonne, up $0.14 p...Read More
Flat steel buyers in the United Arab Emirates and Saudi Arabia preferred to wait for prices to stop coming down before they placed any new orders, sources told Fastmarkets on Tuesday September 21.Most imported flat steel prices to the two countries have decreased during the past week, because of lower offer prices. End-user demand remained weak because of the lack of big new projects, sources adde...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 21 and their latest price moves.China The imported charge chrome market rose strongly on supply tightness in China, due to falling domestic production following electricity restrictions. The UG2 chrome ore market stayed stable, with cost support holding prices in balance against falling consu...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.In the iron ore market, supply issues including heavy rains at the start of the year, followed by staffing problems during the Covid-19 pandemic, have affected exports from Brazil. This has helped Australia gain a larger market share, but since June, Brazilian export volumes have returned to levels last seen before the...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:?EUR? US sheet prices hit record highs again in May, with upward momentum persisting into June. Actual US hot-rolled coil prices averaged $1,553 per ton in May, largely in line with our forecast of $1,540 per ton. Prices remain supported by strong underlying sup...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
En+ Group is eyeing a partnership with the manufacturer of an electric vehicle to produce aluminium with low-carbon greenhouse gas emissions, its executive chairman told Fastmarkets.Speaking in an interview on Tuesday September 21, Lord Gregory Barker said that partnerships of this kind would "absolutely" become more common as the group scaled up its inert anode technology, which generates direct...Read More