Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...Read More
Turkish deep-sea scrap import prices fell sharply on the news of a fresh booking for October shipment, market participants told Fastmarkets on Monday September 13.A steel mill in the Marmara region booked a US cargo, comprising 32,000 tonnes of HMS 1&2 (80:20) at $436 per tonne and 8,000 tonnes of shredded at $451.50 per tonne cfr late on Friday September 10.Earlier on Friday, a booking from the B...Read More
Key data from Fastmarkets' pricing session in London on Friday September 10th.Key drivers: There is market talk of factory closures in Lengshuijiang, Hunan Province due to high antimony content in Zijiang River, which is located there. The central government has ordered all metal refineries in...Read More
China's leading copper producer, Jiangxi Copper, will develop the Mes Aynak copper mine in Afghanistan with Metallurgical Corp of China (MCC) when conditions allow, the company said.Due to the unstable situation in Afghanistan, there has not yet been any substantial construction at the mine, but the two companies are monitoring the situation and will push forward with the project when they...Read More
The latest data for the global manganese ore market for the week ended September 13, 2021.Read More
China's nickel sulfate prices softened in the week to Friday September 10 amid an increase in the supply of mixed hydroxide precipitate (MHP), though strong nickel prices on both the London Metal Exchange and Shanghai Futures Exchange kept the spot market quiet.Fastmarkets assessed prices for nickel sulfate min 21%, max 22.5%; cobalt 10ppm max, exw China at 36,500-38,000 yuan ($5,663-5,896) per to...Read More
Key data from Fastmarkets' pricing session in China on Friday September 10.Key driversChina's cobalt metal price moved up amid continuous rising local futures prices and tight spot supply among sellers. Some buyers restocked small-volume materials, but others remained cautious.The cobalt tetroxide price increased further, with most producers insisting...Read More
The Brazilian domestic price for steel rebar was unchanged in September, with producers and buyers in a tug of war amid a global downturn and efforts to prevent oversupply in the market.Fastmarkets' price assessment for steel reinforcing bar (rebar) domestic, monthly, delivered Brazil held at 5,100-5,310 Reais ($972-1,012) per tonne on Friday September 10, compared with August 13, when it fell to...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
Here are five Fastmarkets stories you might have missed on Monday September 13 that are worth another look....Read More
Flat steel prices in the Brazilian domestic market remained stable in September, with distributors facing a slow pace of sales and competition from imported material booked several months ago.Steelmakers were not giving any discounts from their prices despite a lower level of sales, because international prices for steel were still seen to be strong.Fastmarkets' monthly price assessment for steel...Read More
Hot-rolled coil prices in the United States reached a new record on Monday September 13, while market participants remained split regarding the direction that spot pricing will take in the immediate future.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $97.50 per hundredweight ($1,950 per short ton) on Monday, up by 0.69% from $96.83 per cwt on Friday September 10 an...Read More
China's nickel sulfate prices softened in the week to Friday September 10 amid an increase in the supply of mixed hydroxide precipitate (MHP), though strong nickel prices on both the London Metal Exchange and Shanghai Futures Exchange kept the spot market quiet.Fastmarkets assessed prices for nickel sulfate min 21%, max 22.5%; cobalt 10ppm max, exw China at 36,500-38,000 yuan ($5,663-5,896) per to...Read More
China's leading copper producer, Jiangxi Copper, will develop the Mes Aynak copper mine in Afghanistan with Metallurgical Corp of China (MCC) when conditions allow, the company said.Due to the unstable situation in Afghanistan, there has not yet been any substantial construction at the mine, but the two companies are monitoring the situation and will push forward with the project when they...Read More
Prices in the Commonwealth of Independent States export slab market declined during the week to Monday September 13 due to bookings made at lower levels.Mills cut prices to attract customers, while the latter showed modest interest in imported material on expectations that prices will decrease further in the coming weeks.Weaker finished flat steel prices, both in the CIS region as well as in the m...Read More
Carbon steel plate prices in the United States remained at an all-time high on Friday September 10, and market chatter suggests the current lull in market activity is widespread but temporary.Fastmarkets' weekly assessment for steel cut-to-length plate carbon grade, fob mill US was at $87 per hundredweight ($1,740 per short ton) on Friday, unchanged since August 27.Fob mill assessments ranged from...Read More
Steelmakers in Bangladesh returned to the market for imports of bulk steel scrap cargoes in the week ended Friday September 10 despite very high freight costs, sources told Fastmarkets.Bangladesh removed its Covid-19-related lockdown in early August 2020, leading to a re-opening of the steel retail markets and easing the movement of scrap across the country.The decision also allowed induction furn...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
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...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