High inventories and falling domestic prices encouraged Brazilian suppliers to turn to export markets in June, following months of declining shipments, according to the national ferrous scrap association, Inesfa.Stronger demand for long steel in Brazil led mills to seek more scrap not only domestically, but also via imports, Inesfa's president, Clineu Alvarenga, told Fastmarkets on Tuesday July 13...Read More
The recent decline in prices of deep-sea ferrous scrap exports from North America to Turkey is expected to continue - and to extend throughout the global scrap markets with the onset of the traditional summer shutdown period, sources told Fastmarkets."The downturn we are seeing in current prices is typical of a seasonal market. We see Turkey sales down more; Asian sales [will likely be] down a lit...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 14.Please click...Read More
Domestic prices for cold-rolled coil in Europe have remained high despite competitive import offers to the region in the week to Wednesday July 14, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, import, cfr main port Northern Europe, was ?,?1,150-1,200 ($1,360-1,419) per tonne on July 14, down by ?,?50 per tonne week on week from ?,?1,200-1,250 per tonne.The assessmen...Read More
Investment and management company Dada Holdings has sold a portion of its stake in New Day Aluminum Holdings to Concord Resources Ltd, the companies said.The deal, for an undisclosed sum, gives the commodities merchant trader a substantially larger equity interest in New Day, which is the parent of Noranda Bauxite, Noranda Alumina and Niche Industrial Chemicals.In addition to retaining a minority...Read More
Market terms for copper concentrates reached a 10-year high in April 2021; since then it has only been uphill for sellers.Fastmarkets' calculation of the index for copper concentrates TC/RC, which measures a mid-point for processing fees paid to smelters, hit $42.40 per tonne/ 4.24 cents per lb on July 9, almost double the low set on April 9.Over the weekend, information began to filter throu...Read More
United States nickel briquette premiums surged upward by over 34% this week after mine strikes continued to tighten supply, while Chinese premiums rose on the open arbitrage window between London and Shanghai and European premiums remained flat, sources told Fastmarkets.US briquette premiums gained 34.8% this week after Vale's strike added to the existing material shortageThe open arbitrage window...Read More
Tin continued to be unaffected by global macroeconomic pressures and reached a new year-to-date peak of $32,775 per tonne on the afternoon of Wednesday July 14, while other base metals traded on the London Metal Exchange ended the day's session with lower prices.The three-month price for tin closed 0.8% higher on Wednesday at $32,661 per tonne compared with Tuesday's 5pm price, with its all-time h...Read More
South Korea's Public Procurement Service (PPS) has awarded a 3,000-tonne aluminium tender at a premium of $168.5 per tonne, 10.1% higher than the premium it had awarded for another aluminium tender two weeks ago.The latest tender for London Metal Exchange-registered brands of high-grade primary aluminium ingot from a western origin - except those from China, India, Russia and Egypt - was awarded t...Read More
Hot-rolled coil prices in the United States crossed the $91-per-hundredweight ($1,820-per-short-ton) barrier for the first time on Wednesday July 14, reaching an all-time high since Fastmarkets started assessing the market in 1960.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $91.33 per cwt ($1,826.60 per ton) on July 14, an increase of 1.55% from $89.94 per cwt on...Read More
Steel H-beam prices in Europe increased on Wednesday July 14 after mills raised their offer prices because they have full order books, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?1,050-1,080 ($1,242-1,277) per tonne on July 14, widening upward by ?,?10 per tonne from ?,?1,050-1,070 per tonne on July 7."The mills ha...Read More
The steel rebar market in the south of Europe was quiet in the week to Wednesday July 14, with prices broadly flat, although market sources told Fastmarkets that producers were considering price rises.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?780-820 ($922-970) per tonne on Wednesday, compared with ?,?760-830 per tonne one w...Read More
Domestic prices for steel wire rod in the south of Europe were stable or slightly lower in the week to Wednesday July 14, while trading activity was rather cool because buyers were abstaining from bookings, expecting prices to correct downward in August, Fastmarkets has heard.Producers, meanwhile, were in no rush to reduce their prices, citing good order books, high feedstock costs and reduced ava...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday July 14.Key drivers Alloys suppliers reported stronger buying interest in the week to July 14, with consumers of ferro-titanium seeking offers due to recently announced export duties on ferro-alloys from Russia, which will come into effect from August 1 and last until the end of the year. Deals were reported at the upper end of the...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
Shipments of cobalt hydroxide from South Africa are likely to be delayed due to serious civil strife in the country; most market participants preferred to hold back activity until the effects on the markets become clearer.The civil strife in South Africa, with significant incidents in KwaZula-Natal province in eastern South Africa, was sparked by the jailing of former South African president Jacob...Read More
China opened two railways at the start of this week to ensure the movement of coal from Shanxi province in the north to coal-consuming provinces across the country, China Railway Zhengzhou Group said on Monday July 12.The two main railways for coal transportation from Shanxi province were disrupted earlier this year by extreme weather, with heavy rains and high temperatures. Local governments and...Read More
Iron ore prices were largely rangebound on Wednesday July 14 despite activity on the trading platforms, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $218.66 per tonne, up by $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $220.00 per tonne, down by $1.46 per tonne58% Fe fines high-grade premium, cfr Qingdao: $178.41 per tonne, down by $0.25 per tonne65% Fe...Read More
Chinese authorities are unlikely to lower barriers to allow more lower-grade scrap to enter the country, panelists said at the Singapore Steel Forum 2021 on Wednesday July 14.China imported 221,409 tonnes of ferrous scrap in the first five months of 2021, according to Chinese customs statistics, which was a 2,894% increase from the same period in 2020.Most of the material imported has been higher...Read More
Coking coal market in China stayed largely stable on Wednesday July 14 despite a few buying interests from end users in south China. There are also new buying activities for Australia coking coal loaded in November, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $210.03 per tonne, down $0.24 per tonnePremium hard coking coal, cfr Jingtang: $308.32 per tonne, up $0.34 pe...Read More