An overview of the aerospace materials markets and the latest price moves.Cristina Belda and Dalila Ouerghi...Read More
The United Kingdom market for inter-merchant light iron scrap was steady for the second consecutive week to Friday July 2, with relatively low availability and firm demand from steelmakers supporting prices.UK scrap generation, which has been recovering heavy losses from 2020 when heavy industry was affected by Covid-related restrictions, is set to drop again this summer due to cuts in car manufac...Read More
Domestic prices for steel wire rod in Poland have strengthened over the past seven days, supported by good demand and limited supply, sources told Fastmarkets on Friday July 2.Demand for wire rod in Poland was still good in the week to Friday, although the rise in prices put pressure on trading activity. Buyers were struggling to open or maintain credit lines, or to get credit insurance, due to th...Read More
Hot-rolled and cold-rolled coil prices decreased in Turkey during the week ending Friday July 2 before the long holiday starts in the country on July 15, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-24 will be the Ei al-Adha holiday, so market participants expect reduced activity in the second half of July.Low priced sales from Russia to several destinations during the w...Read More
The pig iron export market in Brazil remained calm in the week to Friday July 2, waiting to see how the global market will react to Russia's plan to impose export duties on a range of metal products.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620-625 per tonne on Friday, widening upward from $620 per tonne a week before.Offers from the south...Read More
Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Total nonfarm payroll empl...Read More
Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Total nonfarm payroll empl...Read More
Monthly European alloy steel surcharges for grade-316 stainless steel have surged for July because of a sharp increases in the price of molybdenum, Fastmarkets heard on Friday July 2.Fastmarkets' calculation of stainless steel cold-rolled sheet 316 2mm alloy surcharge domestic, Europe was ?,?2,902-2,946 ($3,439-3,492) per tonne for July, up by ?,?242-271 per tonne from June.The substantial increas...Read More
European Metal Recycling (EMR) is to transform its dock operations in Scotland with a multi-million-pound development that will make it more competitive and reduce carbon emissions, the company announced on Monday June 28.The 11.5-acre site at Berth 10 of the West Quay at Glasgow's King George V dock will be EMR's most innovative deep-sea dock in the UK, allowing the company to transfer material i...Read More
A flurry of low-priced transactions for Russian hot-rolled coil into Vietnam during the week to Friday July 2 has shocked market participants in Asia, causing prices to fall and depress sentiment, sources told Fastmarkets.The deals follow Russia's announcement on June 24 that it would impose temporary export duties on ferrous and non-ferrous metals sold outside the Eurasian Economic Union from Aug...Read More
Indian domestic hot-rolled coil prices have corrected by about 1,500 rupees ($20) per tonne after incentives were offered by steel mills to distributors in the face of poor demand for HRC.Fastmarkets' price assessment for steel HRC, domestic ex-warehouse India was 67,000-69,000 rupees ($899-926)per tonne on July 2, down from last week's 68,500-70,500 rupees per tonne. "Price support has been offer...Read More
Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday July 2, and were looking quite divergent. Base metalsLME three-month copper ($9,314 per tonne) and aluminium ($2,516 per tonne) were up by 0.5% and 0.3% respectively, while the rest were down by an average of 0.3%, led by a 0.7% fall in nickel ($17,970 per tonne). In recent days,...Read More
The availability of significant volumes of lower-priced induction furnace (IF) steel billet in the Philippines import market has led to a cooling of interest in higher-priced blast furnace (BF) billet, sources told Fastmarkets on Friday July 2.IF billet from Thailand was heard sold at $665 per tonne cfr Manila earlier this week, with an offer for Vietnam-origin material heard later at $663 per ton...Read More
China's Wuxi Stainless Steel Exchange will launch trading of its new battery-grade lithium carbonate contract on Monday July 5. The contract will be the first of its kind to be launched by a Chinese exchange for the battery raw material, the exchange has announced.The front-month Wuxi contract for physically delivered lithium carbonate will be October 2021, putting the guiding opening price at 88...Read More
Small differentials for low-carbon aluminium in Europe were achievable for both primary aluminium and value-added products in June, market participants told Fastmarkets. But high underlying premiums for aluminium continued to cap any significant movement in low-carbon differentials. Fastmarkets assessed its aluminium low-carbon differential P1020A, Europe at $0-5 on Friday July 2, up from zer...Read More
Indian authorities have extended anti-dumping duties for both hot-rolled and cold-rolled flat steel products from certain countries until December 15 of this year, according to two notifications published by the Indian ministry of finance on Tuesday June 29. The duties for hot-rolled steel apply to hot-rolled flat products of alloy or non-alloy steel originating in or exported from China, Jap...Read More
Turkey secured up a fourth deep-sea steel scrap purchase at a discount, compared with its previous three previous cargo buys, in the week to Friday July 2, while activity in other global markets was comparatively subdued.Turkey secured four deep-sea cargoes, from Europe and the United StatesUS exporters kept export prices above $500 per tonne; international mills were forced to compete with the vi...Read More
Expensive logistics, uncertainty about the recently announced Russian export tax and generally strong fundamentals pushed global aluminium billet premiums to fresh all-time highs in the week ended Friday July 2.Europe premiums hit all-time highs, with expectations of further increasesThailand billet premium rises on tight regional supplyExpensive US freight drives premiums upwardPremiums in Brazil...Read More
Key data from Fastmarkets' pricing sessions in China, the United States and Europe on Friday July 2.China The China ferro-silicon price edged up due to the tighter availability following the news that producers in Shanxi and Ningxia might face another round of production cuts so the provinces can meet their dual energy consumption targets, with supplier offers broadly unchanged.In addition, the ne...Read More
Aluminium and copper prices on the London Metal Exchange remained firm during morning trading on Friday July 2 amid low-volume trading. The three-month aluminium price was most recently at $2,527 per tonne, up by $15 per tonne from $2,512 per tonne at the close of trading on Thursday. The contract has trading in a tight range of $2,506-2,527 per tonne on Friday morning. LME aluminium stock levels...Read More