Hot-rolled coil prices in the United States have consolidated around the $97-per-hundredweight ($1,940-per-short-ton) level, with some buyers choosing to meet their supply needs using imported material rather than pay the steep domestic prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.90 per cwt ($1,938 per ton) on Wednesday September 8, down by 9 cents (0.0...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed on the morning of Wednesday September 8. Aluminium, nickel and zinc prices on the LME were holding up well, while copper, tin and lead look more vulnerable. Federal Open Market Committee member James Bullard said the Federal Reserve should start tapering, which has lifted US treasury yields and the dollar...Read More
The price of steel H-beams in the European domestic market was unchanged in the week to Wednesday September 8 despite reduced buying interest, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,245-1,281) per tonne on Wednesday, unchanged week on week.While sellers were comfortably booked for September, they con...Read More
Spot interest for Southeast Asian zinc ingot weakened in the week ended Tuesday September 7, while tight supply kept premiums in the United States and Europe elevated.The three-month price of zinc on the London Metal Exchange reached $3,058 per tonne, its highest price since early August.The Southeast Asian zinc premium retreated, with demand hit by Covid-19-led restrictions and high pricesThere w...Read More
The three-month aluminium price on the London Metal Exchange continued its uptrend during Wednesday's trading, rising by 1.3% to $2,794 per tonne from $2,757 per tonne at Tuesday's 5pm close after 16,900 lots were traded.Prior to closing at 5pm, the aluminium three-month contract reached an intraday high of $2,810 per tonne, exceeding the previous 2011 high of $2,803 per tonne."Once it [the alumin...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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 alloy grade, in-whs Rotterdam, $/lb at 23.70-24.60 on Wednesday September 08,...Read More
Domestic cut and shredded scrap prices in the export-dependent regions of the United States' ferrous scrap market could face further drops in October, pressured by an ongoing decline in US export markets.Plunging prices for US deep-sea cargo exports to Turkey, caused by weakening demand, are reportedly dictating the direction of prices in export-influenced domestic markets, such as Philadelph...Read More
Seaborne iron ore prices decreased on Wednesday September 8 due to limited liquidity in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $132.19 per tonne, down by $5.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $133.29 per tonne, down by $4.81 per tonne58% Fe fines high-grade premium, cfr Qingdao: $106.66 per tonne, down by $4.03 per tonne...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 8. Cristina Belda and Dalila...Read More
The stainless steel scrap market in the United States seems to have cooled off slightly over this past week because demand for September was slightly weaker, but the bellwether Type 304 stainless solids price continued to increase."It feels like some of the processors are holding back on prices. It seems like there is one buyer every week chasing units [of 304 stainless scrap] and paying higher th...Read More
Turkish steelmakers went quiet in the deep-sea ferrous scrap markets once again after booking a number of cargoes for October shipment earlier this week, market participants said on Wednesday September 8.Three steel producers did book four deep-sea cargoes from various locations on Tuesday September 7. But weak demand for Turkish long steel products in the export markets has been keeping Turk...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 8.Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 8 that are worth another look.The Ukrainian Intergovernmental Committee for International Trade has initiated an anti-dumping investigation into imports of steel seamless cold-drawn and cold-rolled pipe originating from China.A second lithium trade has been brokered against the CME...Read More
The European Union is considering imposing tariff-rate quotas on steel and aluminium exports to the United States in a bid to reach an agreement with the US on its plans to exempt the EU from its Section 232 measures, sources told Fastmarkets on Tuesday September 7.The US and EU are widely expected to reach an agreement by November 1 on an exemption from Section 232 for European steel an...Read More
Zinc was the main exception to an otherwise falling London Metal Exchange complex on September 7, which was a day of very quiet trading conditions - just over 10,000 lots of copper were traded by 5pm. The three-month price of zinc was at $3,044 per tonne on Tuesday at the close, a 1.2% increase from Monday's price at the same time of $3,007.50 per tonne.It set an intraday high of $3,059 per tonne...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 7 that are worth another look....Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday September 7 and their latest price moves.China UG2 chrome ore offer prices dropped following a softening in the alloy market and reports of electricity production restrictions on consumers. The imported charge chrome market fell following early weakness in the domestic spot market and likely production...Read More
Market participants told Fastmarkets on Tuesday September 7 that bauxite production in Guinea has been unaffected so far, despite a coup in the West African country.The coup began on Sunday September 5 when soldiers detained President Alpha Cond?(C), and then announced on state television that the government had been dissolved. Despite the political uncertainties, the operations of mining projects...Read More
Turkish steel mills have resumed their deep-sea scrap bookings at fairly stable prices after a short break, market participants told Fastmarkets on Tuesday September 7.Three steel producers booked four deep-sea cargoes from various locations.A steel mill in the Marmara region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $445 per tonne and 27,000 tonnes of shredded at $460 per...Read More
The possibility of tighter production cuts in China in early 2022 has led to a drop in raw materials prices across the ferrous chain in China, sources told Fastmarkets on Tuesday September 7.Stricter production policies in China put pressure on scrap demandJapan-origin offers to China remain unchangedTaiwan buys containerized scrap at $450 per tonneChinaThe Chinese government's stricter stanc...Read More