Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Sentiment in the European market for steel heavy plate was downbeat in the week to Wednesday September 1 due to declines in both the costs for raw materials and semi-finished steel prices, sources have told Fastmarkets.Competitive offers from Central Europe also contributed to the negative mood in the market.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was u...Read More
Shanghai bonded aluminium stocks rose significantly in August after numerous cargoes were sent to China during the month amid expectations that China's arbitrage window will reopen soon.Fastmarkets assessed Shanghai bonded aluminium stocks at 105,000-106,000 tonnes on Tuesday August 31, a 63.6% increase from 64,000-65,000 tonnes on July 30 and more than 13 times higher than the year-ago stock leve...Read More
Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov."I do not forecast any export duties for the next year. I do not see any grounds for that because prices started to decline and markets are cooling down, Evtukhov said on the sidelines of a panel discussion...Read More
An overview of the consumer electronics markets and their latest price moves in the week to Wednesday September 1.Fola Malomo, Cristina Belda and...Read More
Suppliers in China's domestic spot ferro-chrome market lowered their offer prices in the week to Tuesday August 31 after Tsingshan reduced its September ferro-chrome tender price by 800 yuan ($124) per tonne the week before.As a result, Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 600 yuan per tonne (5.7%) to 9,800-10,200 yuan ($1,517-1,579) per to...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 1.Please click...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 1.Key driversThe spot price range for ferro-titanium widened higher in the week to Wednesday September 1, with some suppliers reporting deals above $8.00 per kg for the first time since April 14.Suppliers reported signs of increased buying interest for the fourth quarter and first quarter of 2022, but only slim interest fo...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
Following a one-month consultation, Fastmarkets is updating the wording of its Metals & Mining assessment methodologies to provide greater clarity around how its prices are determined. The wording refinements do not materially alter the way Fastmarkets Metals & Mining assesses prices and as such are not anticipated to result in any noticeable changes in Fastmarkets' assessment price levels or beha...Read More
Almost all London Metal Exchange base-metals prices fell under pressure at the end of the day on Wednesday September 1, to start the new month on the back foot following a small pickup in prices in the last week of August.The base-metals complex came under pressure on Wednesday morning after the release of the Chinese Caixin manufacturing purchasing managers' index (PMI). This dropped to 49.2 in A...Read More
Fastmarkets has corrected its daily indices for steel scrap, HMS 1&2 (80:20 mix) North Europe origin, cfr Turkey, and steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey, which were published incorrectly on Tuesday August 31 due to a calculation error.Fastmarkets' calculation of the index for MB-STE-0416 steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was published on Tuesda...Read More
Chile's Ministry of Energy & Mining has unveiled a national mining policy that will run until 2050, the Pol?-tica Nacional Minera 2050, which sets out a series of initiatives intended to decrease the amount of water used by the country's mining industry, as well as to increase transparency across the sector.The policy blueprints were published on Tuesday August 31.The government initiative, which...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. U.S. equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for August Non-farm Productivity is an increase of 2.4% versus a gain of 2.3% in July. Consensus for the July U.S. Trade Deficit is $75.10 billion versus $75.70 billion in June. The Canadian D...Read More
A closed arbitrage for imports into China reduced interest for spot trades and, subsequently, premiums eased in Shanghai, but in Southeast Asia and the United States premiums were stable. Closures related to Covid-19 in the region and better import opportunities into China are keeping Southeast Asia premiums steady. High freight and logistics costs are supporting US copper premiums at their h...Read More
Spot prices for containerized steel scrap imported into Taiwan continued to rise on Wednesday September 1 amid high freight costs from the United States' West Coast to Taiwan and a lack of container vessels and freight space. Taiwan pays $448 per tonne for containerized scrapChina reports renewed interest for scrap importsCovid-19 pandemic weighs on Vietnam import demandDemand in India could...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 1 that are worth another look.Russia's Ministry of Industry and Trade does not see any grounds for the extension of export duties for steel and non-ferrous metals into 2022, according to the deputy minister Viktor Evtukhov.Chile's...Read More
Brazilian iron ore export volumes increased by 11.68% year on year in August, according to figures released by the country's economy ministry on Wednesday September 1.Volumes exported came to 34.84 million tonnes last month, compared with 31.19 million tonnes a year earlier. Brazil-based mining company Vale has been...Read More
Seaborne iron ore prices plunged on Wednesday September 1 amid more expectations for crude steel production curbs for the remainder of 2021, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $143.43 per tonne, down $10.24 per tonne62% Fe low-alumina fines, cfr Qingdao: $144.23 per tonne, down $10.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $112.72 per tonne, do...Read More
European steel H-beam prices remained unchanged on Wednesday September 1, with market participants mulling the potential for a change in direction following a drop in feedstock costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?1,050-1,080 ($1,240-1,275) per tonne on Wednesday, unchanged week on week.After returning to w...Read More