At $3 below $2,700 per tonne, aluminium reached its highest three-month price on the London Metal Exchange since May 2011 on Friday August 27, and most prices on the complex were also up following long-awaited statements from the US Federal Reserve Chair. The new year-to-date peak for aluminium was $2,697 per tonne on Friday; the metal was up by 1.1% at 5pm to $2,649.50 per tonne from Thursday's $...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 27.Susan Zou, Yingchi Yang and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Friday August 27 while market participants wait to hear what United States Federal Reserve chair Jerome Powell has to say about the US monetary policy timeline when he speaks later today. Asian-Pacific equity indices were mixed this morningBase metalsLME three-month zinc ($2,981 per tonne) an...Read More
The light iron scrap market in the United Kingdom was stable during the week to Friday August 27, with most trade sources reporting steady prices to ensure the flow of material into yards.But some domestic consumers signaled a need for price cuts for monthly deliveries in October, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered...Read More
Fastmarkets has plotted the locations of the continuing and proposed projects for the decarbonization of the European steel sector.This includes projects and targets for green steel, carbon capture, carbon neutral, net zero, low-carbon emissions and fossil-free steel. Hotspots appear in Germany, France and Sweden, where steelmaking is already well established. Policy, funding and sharing of infras...Read More
Low-volatility pulverized coal injection (PCI) prices in both the fob and cfr market jumped following price gains in coking coal the week to Friday August 27. And a shortage of railway wagons in Russia has delayed the transport of PCI to China, sources said.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $408.51 per tonne, down $0.42 per tonneHard coking coal, cfr Jingtang: $385.67 per...Read More
Turkish mills were largely inactive in the import scrap market over the week ended Friday August 27, while prices in key Asian markets were affected by the low levels of interest among mills for imported cargoes.Turkey books just one deep sea cargo during weekUS prepares for fall in domestic pricesVietnamese import prices constrained by rise in Covid-19 casesChinese scrap buyers hold back from imp...Read More
Treatment charges for lead concentrate rose in August on a strongly negative import arbitrage and a steep backwardation on the London Metal Exchange, market participants told Fastmarkets.In addition, more mined material has become available to the Chinese market, which has been tightly supplied for the past three months.Fastmarkets' lead spot concentrate TC, low silver, cif China and the lead spot...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
Seaborne iron ore prices mostly increased on Friday August 27 amid stable trading activity in the physical market, particularly at China's ports, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $157.55 per tonne, up $4.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $157.84 per tonne, up $4.04 per tonne58% Fe fines high-grade premium, cfr Qingdao: $126.50 per tonne, up $3.62...Read More
The Commonwealth of Independent States' pig iron export market was weak during the week to Thursday August 26 due to a lack of demand.Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $510-520 per tonne on Thursday, down by $15-20 from $525-540 per tonne the previous week."That was another muted week in the market," one trader said. "[The] gen...Read More
Slab export prices from Brazil were stable in the week ended Friday August 27, after most volumes available were sold at the same level as previous weeks.Fastmarkets' weekly assessment for steel slab, export, fob main port Brazil was $900-920 per tonne on Friday, unchanged from the previous week.In the last two weeks, deals have been closed to several buyers in the United States, where demand for...Read More
Spot prices for imported containerized ferrous scrap in Taiwan remained rangebound in the week to Friday August 27 amid buyers' bearish views.Fastmarkets' daily price assessment for containerized steel scrap HMS 1&2 (80:20 mix) US material import, cfr main port Taiwan was $440-445 per tonne on Friday, unchanged from a day earlier but widening downward by $5 from $445 per tonne a week earlier....Read More
Major steel production exports out of China in July decreased from June due to the removal of an export rebate on May 1.For instance, the hot-rolled coil export was 817,276 tonnes in July, down by 20% from 1.03 million tonnes in June, according to customs data.Market participants expect exports to keep the month-on-month...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade 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...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...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
Color-coated steel coil prices decreased in Turkey during the week to Friday August 27 in a slow market, sources told Fastmarkets.Uncertainty over the future direction of prices, which have decreased recently for most markets, made buyers refrain from booking material.Most export markets are still in holiday season, sources said.Domestic pricesFastmarkets assessed steel hot-dipped galvanized coil....Read More
Ferrous scrap trading in Vietnam remained thin during the week to Friday August 27 amid poor demand and administrative and logistical difficulties caused by the worsening Covid-19 pandemic in the country, sources told Fastmarkets.Key commercial and industrial hubs in southern Vietnam, including Ho Chi Minh City and Binh Duong, have continued to see surging Covid-19 cases.Vietnam recorded 11,575 ne...Read More