An overview of the consumer electronics markets and their latest price moves.Janie Davies and Dalila...Read More
The shareholders of United Arab Emirates-based Arkan Building Materials have approved the merger of their company with Emirates Steel, Arkan said on August 9.Arkan owns companies in the construction-related sectors, including cement and concrete producers.Emirates Steel has crude steel capacity for 3.5 million tonnes per year, making it the biggest steel producer in the UAE. It produces rebar, wir...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila...Read More
Tin's three-month price reached yet another all-time peak of $35,795 per tonne on Wednesday August 11 on the London Metal Exchange. Most other base metals, copper being the sole exception, were also up while the US Dollar Index pulled back slightly.Months-long supply tightness and continued demand for tin meant that its three-month price has risen by 70% since the start of the year, having been $2...Read More
Export billet prices from the Commonwealth of Independent States (CIS) region declined at the beginning of the week, pressured by low prices and poor demand.Lower import scrap prices in Turkey as well as low demand in major sales outlets due to the summer slowdown were the main reasons for the negative mood."[The] market seems very soft. August is a quiet month in general as well," a Europe-based...Read More
Spot ferro-chrome prices in China continued to correct downward after peaking at a 13-year high point at the end of July, despite the continuing output restrictions caused by power supply limitations in a number of production regions.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 400-500 yuan to 10,400-10,800 yuan ($1,603-1,665) per tonne on Tuesday...Read More
US East Coast ferrous scrap export prices continue to face downside pressure following a recent cargo sale to Turkey, while business activity off the West Coast remains muted. A Turkish steel mill bought a United States-origin cargo for September shipment comprising 30,000 tonnes of heavy melting scrap 1&2 (80:20) at $461 per tonne as well as 5,000 tonnes of shredded and 5,000 tonnes of bonus, bot...Read More
Iron ore prices went up on Wednesday August 11 following the uptrend in steel and coke prices, but the demand outlook remained bearish, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $165.48 per tonne, up by $3.04 per tonne62% Fe low-alumina fines, cfr Qingdao: $165.97 per tonne, up by $3.22 per tonne58% Fe fines high-grade premium, cfr Qingdao: $134.28 per tonne, up by $3.34...Read More
Base metals prices on the LME were mainly weaker this morning, Wednesday August 11, after average rebound gains of 1.4% on Tuesday, while SHFE base metals prices were mainly stronger in reaction to yesterday's LME gains.US Senate passes $1 trillion infrastructure bill, focused on the transport system Wall Street set fresh record highs on Tuesday US dollar strong and climbing and US treasury yields...Read More
Ferrous scrap exports from the United States tumbled by 20.68% month on month in June, with shipments to Turkey down by two thirds compared with May, according to the latest data from the US Census Bureau.Ferrous scrap exports dropped to 1.61 million tonnes in June from 2.03 million tonnes in May and 1.63 million tonnes in April.Exports to Turkey, typically the top buyer of US ferrous scrap, plumm...Read More
Spot ferro-chrome prices in China continued to correct downward after peaking at a 13-year high point at the end of July, despite the continuing output restrictions caused by power supply limitations in a number of production regions.Fastmarkets' price assessment for ferro-chrome, spot, 6-8% C, basis 50% Cr, ddp China, fell by 400-500 yuan to 10,400-10,800 yuan ($1,603-1,665) per tonne on Tuesday...Read More
A summary of the financial performance of Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) for the second quarter of 2020, according to its earnings report released on Tuesday August 10.In brief Total aluminium sales increased year on year during the second quarter amid a "consistent" recovery of Brazilian demand following the 2020 low caused by the Covid-19 pandemic, CBA said....Read More
Turkish steel mills remained out of the deep-sea scrap market on Wednesday August 11, booking no new cargoes, sources told Fastmarkets.With no new transactions heard, the market remained steady.A small number of older cargo deals had come to light at the start of this week, for material...Read More
Hot-rolled coil prices in the United States remained firmly above $94 per hundredweight on Wednesday, setting an all-time high for the third day in a row.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $94.86 per hundredweight ($1,897.20 per short ton) on Wednesday August 11, up by 0.20% from $94.67 per cwt on August 10 and by 1.72% from $93.26 per cwt one week earlie...Read More
Japanese steel scrap exporters were unwilling to part with large tonnages of material at current market prices ahead of a long holiday in the country starting this week, sources told Fastmarkets on Wednesday August 11.Japanese sellers cautious about new salesLarge gap between containerized and bulk-shipment prices for Taiwan imported scrapChinese scrap import market quiet despite futures gains; pr...Read More
Prices for steel hollow sections in Europe remained unchanged on Wednesday August 11 with the market moving through a seasonally slower period of trading, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium) domestic, delivered Northern Europe was ?,?1,400-1,430 ($1,642-1,677) per tonne on Wednesday, unchanged week on week."Prices remain above ?,?1,400 per tonne,...Read More
Union leaders and the operating company of Chile's Escondida mine have agreed terms on a new collective bargaining agreement, potentially avoiding a proposed strike at the world's largest copper mine.In a statement reported in the Chliean daily El Mercurio, operating company Minera Escondida said: "The company and the directors of the Union No1 have concluded negotiations [on a] collecti...Read More
China's domestic hot-rolled coil prices extended their gains on Wednesday August 11 after futures prices rose for a second straight day on higher market expectations of an output drop and demand recovery from low summer trading.DomesticEastern China (Shanghai): 5,820-5,860 yuan ($897-903) per tonne, up by 40-60 yuan per tonneThe most-traded HRC contract on the Shanghai Futures Exchange hit an intr...Read More
Metal held outside London Metal Exchange warehouses decreased for the fourth month running, down by 12% to 913,825 tonnes in June from just over 1 million tonnes in May. The LME's latest off-warrant stock report showed a decrease of 338,158 tonnes in June, following a fall of 140,246 tonnes in May.In April, there were 1,010,360 tonnes of aluminium alone outside of LME warehouses.Copper and le...Read More
Seaborne coking coal prices increased in the fob Australia market amid increased buying interest on Wednesday August 11, while the cfr China market stayed strong due to domestic supply tightness, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $222.09 per tonne, up $0.98 per tonneHard coking coal, fob DBCT: $195.91 per tonne, up $5.75 per tonnePremium hard coking co...Read More