Global aluminium prices and premiums have been on a near-vertical uptrend, touching record highs along the way, with consumers of aluminium in various sectors finding ways to absorb and pass on the increasing costs.Managing high raw material costs has become a key theme in quarterly earnings reports and in conference calls for manufacturing companies throughout the summer months of 2021. Despite h...Read More
A large drop in Chinese import steel billet bid prices has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in free-fall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightl...Read More
A combination of low liquidity, supply constraints that were said to be easing, and a rushed exit from long positions took the three-month price of tin on the London Metal Exchange down by 11% on Thursday August 19, despite its recent and seemingly unstoppable rise. Where will it go from here?Prior to the fall on Thursday, tin's benchmark futures price had reached an all-time high of $35,955 per t...Read More
Global aluminium prices and premiums have been on a near-vertical uptrend, touching record highs along the way, with consumers of aluminium in various sectors finding ways to absorb and pass on the increasing costs.Managing high raw material costs has become a key theme in quarterly earnings reports and in conference calls for manufacturing companies throughout the summer months of 2021. Despite h...Read More
Short-covering activity helped some base metals prices on the LME end the week on a higher note at the end of trading on Friday August 20, but it was not enough to offset the losses seen after Thursday's sell-off.Copper's three-month price was $9,037 per tonne at 5pm on Friday, up 1.6% on Thursday's $8,894 per tonne, with the 200 daily moving average (DMA) acting as key support at $8,843 per...Read More
Eastern China rebar prices rose on Friday August 20 due to restocking demand ahead of the weekend, but a drop earlier in the week means that prices are down by 120 yuan ($18) per tonne week on week.DomesticEastern China (Shanghai): 5,080-5,110 yuan per tonne, up by 70 yuan per tonneNorthern China (Beijing) weekly assessment: 5,010-5,050 yuan per tonne, down by 160 yuan per tonneBuyers raised procu...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 20.Susan Zou, Yingchi Yang and...Read More
Prices for shredded steel scrap into Pakistan and India continued to diverge on Friday August 20, with demand in India slowing down during the monsoon season, while there was active trading in Pakistan, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $ 539 per tonne on Friday, up from$532.37 per tonne.The Ashura p...Read More
A large drop in Chinese import steel billet bid prices has caused sellers to slash offer prices in an attempt to sell material to alternative markets, sources told Fastmarkets on Friday August 20.Chinese ferrous futures were in free-fall from Monday August 16 to Thursday August 19 amid pessimistic outlook for near-term economic growth and steel demand in China. Although contracts recovered slightl...Read More
Nickel and copper were up by 1% and above in the LME morning session on Friday August 20, with most base metals bouncing back from Thursday when all prices declined. A higher US Dollar Index - which touched a new year-to-date peak of 93.65 on Friday morning - and renewed concerns about demand due to the ongoing spread of the Covid-19 Delta variant were key factors behind Thursday's price falls.&nb...Read More
The light iron scrap market in the United Kingdom was stable over the week to Friday August 20 while scrap processors held their offer prices to ensure a steady flow of material into their yards, sources told Fastmarkets.UK export prices were also relatively stable despite quieter trade due to the seasonal slowdown, cementing support for domestic British prices. The export market accounts for more...Read More
Indian hot rolled coil export prices edged down on Friday August 20, with mills lowering their HRC export offers to destinations in Southeast Asia, sources told Fastmarkets.Fastmarkets' price assessment for steel hot-rolled coil (commodity) export, fob main port India was $875-920 per tonne on August 20, widening down by $45 at the low end of the range from $910-920 per tonne last week.The lo...Read More
Iron ore prices rebounded on Friday August 20 from losses the day before, although demand from Chinese mills showed no sign of picking up and market participants remained cautious.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $140.44 per tonne, up by $7.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $141.15 per tonne, up by $7.85 per tonne58% Fe fines high-grade premium, cfr Qingdao:...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....Read More
Iron ore prices rebounded on Friday August 20 from losses the day before, although demand from Chinese mills showed no sign of picking up and market participants remained cautious.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $140.44 per tonne, up by $7.78 per tonne62% Fe low-alumina fines, cfr Qingdao: $141.15 per tonne, up by $7.85 per tonne58% Fe fines high-grade premium, cfr Qingdao:...Read More
Turkish steel mills continued to book deep-sea scrap cargoes with prices continuing to weaken at the end of the week to Friday August 20, market participants told Fastmarkets. A steel mill in the Iskenderun region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (80:20) at $450 per tonne and 3,000 tonnes of bonus and 7,000 tonnes of shredded at $470 per tonne cfr. ...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 assessed Cobalt hydroxide p...Read More
Short-covering activity helped some base metals prices on the LME end the week on a higher note at the end of trading on Friday August 20, but it was not enough to offset the losses seen after Thursday's sell-off.Copper's three-month price was $9,037 per tonne at 5pm on Friday, up 1.6% on Thursday's $8,894 per tonne, with the 200 daily moving average (DMA) acting as key support at $8,843 per...Read More
South American flat-rolled steel import prices edged lower in the week to Friday August 20 amid aggressive bidding from customers for material from origins other than China and much more competitive alternatives emerging from the Commonwealth of Independent States.Chinese offers to the continent remained scarce due to uncertainties involving a potential export tax expected to be introduced in the...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Dalila Ouerghi and...Read More