Aluminium billet premiums were steady across the globe on Friday November 19, remaining close to all-time highs.EuropeEuropean billet premiums are unchanged this week at record highs but liquidity is low, with most buyers covered until the end of the year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,450-1,500 per tonne on November 19, unch...Read More
Base metals prices on the London Metal Exchange were mixed, but largely up at the 5pm close on Friday November 19, after a week of choppy trading."We seem to be following a similar pattern to last week," Marex LME desk analyst Alastair Munro said."Macro-inspired weakness during the first part of the week has given way to a bout of short-covering [activity] into the weekend," he added.The three-mon...Read More
Brazilian aluminium maker Companhia Brasileira de Alum?-nio (CBA) expects demand for extrusion billet, its most important primary product, to remain steady - at least - during 2022, after significant growth was reported in 2021, head of primary aluminium division Alexandre Vianna said on Friday November 19.A surge in the country's billet consumption came alongside heated construction market, which...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices edged down slightly in the week to Friday November 19. Spot activity was thin, with the market still focusing on 2022 contract negotiations; no number for benchmark charges has...Read More
China's nickel pig iron (NPI) prices declined in the week to Friday November 19 amid bearish sentiment in the domestic stainless steel market, though those for nickel ore held steady.Fastmarkets assessed prices for nickel pig iron, high-grade NPI content 10-15%, spot, ddp China was 1,460-1,490 yuan ($229-233) per tonne on Friday, down by 10-20 yuan per tonne from 1,480-1,500 yuan per tonne a week...Read More
Deliverable stocks of most base metals in Shanghai Futures Exchange-registered warehouses fell in the week to Friday November 19.Copper stocks fell by 3,119 tonnes week on week to 34,918 tonnes. Although in percentage terms the week-on-week drop was smaller than those of nickel and tin, copper inventories have fallen by 57.6% from 82,342 tonnes...Read More
Yunnan Aluminium Co has suspended operations at its aluminium smelter in Wenshan city, Yunnan province, following an explosion late on Thursday November 18, sources told Fastmarkets.The company has not yet disclosed when it expects to resume production at the facility, which has capacity of about 330,000 tonnes per year, according to sources.Yunnan Aluminium had not responded to Fastmarkets' reque...Read More
Most base metals futures prices continued to rise in early trading on the London Metal Exchange on Friday November 19, following a strong performance at the close on Thursday."A weaker [United States] dollar and constructive US macro data provided some support [to base metal prices]," ED&F Man commodity research head Edward Meir said.The three-month aluminium price led the complex, increasing by 2...Read More
Although sentiment in the US carbon steel plate market has grown less decidedly bullish in recent weeks, the price has held steady at its all-time high - surpassing hot-rolled coil for the first time in more than a year.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US held at $90 per hundredweight ($1,800 per short ton) on Friday November 19, unchanged for two...Read More
Prices for cold-rolled and galvanized steel sheet in the United States tumbled, partially catching up with the accelerating downturn in pricing for hot-rolled coil substrate, which has declined by more than 8% from its peak two months ago. Fastmarkets' weekly pricing assessment for steel cold-rolled coil, fob mill US skidded to $104 per hundredweight ($2,080 per short ton) on Thursday Novembe...Read More
Slab export prices from Brazil remained stable in the week to Friday November 19, amid an ongoing tug of war between producers and sellers on prices for January-shipment batches.Few volumes are available in the spot market, but uncertainty in most steel markets are leading negotiations to a deadlock.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $730-760 per...Read More
Hot-rolled coil prices in the United States continued their descent on Friday November 19, closing in on $88 per hundredweight ($1,760 per short ton) amid slowing demand while the end of the year approaches.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $88.42 per cwt ($1,768.40 per ton) on Friday, down by 1.82% from $90.06 per cwt on Thursday November 18 and down by...Read More
Brazilian apparent steel consumption fell by 5.95% in October, from the same month in 2020, largely influenced by lower domestic shipments of flat steel from mills, according to data published by the steelmakers' association, Instituto A??o Brasil, on Friday November 19.Apparent consumption totaled 1.96 million tonnes during the month, down from 2.09 million tonnes a year before, A??o Brasil said....Read More
The price of secondary steel billet in the Indian domestic market fell by 1,500 rupees ($20) per tonne over the week ended Friday November 19, with demand for semi-finished materials slowing down in line with a sharp fall in demand and prices for finished steel products.Fastmarkets assessed the price for steel billet, domestic, exw India, at 41,700-41,900 rupees ($562-565) per tonne on November 19...Read More
Bulk freight rates for key steel products have receded over recent weeks amid shrinking port congestion in China and improved vessel availability, sources have told Fastmarkets.A slowdown in Chinese commodity imports, coming at a time of crashing steel prices in the country, has allowed congestion at the country's ports to unwind in recent weeks, markets participants said.Freight rates first dropp...Read More
An overview of the new energy materials markets and their price moves in the week to Friday November 19.Susan Zou, Yingchi Yang and...Read More
The United States pig iron import market remained at a standstill in the week to Friday November 19, but suppliers remained bullish and prices edged up, sources told Fastmarkets.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $575-580 per tonne on Friday, up from $570-575 per tonne a week earlier.Neither buyers no suppliers were heard to be active in the market du...Read More
Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $560.18 per tonne on Friday, compared with $564.21 per tonne a week earlier.Deals were heard at $563-565 per tonne this we...Read More
The United Kingdom inter-merchant light iron steel scrap spot price was steady for the third consecutive week on Friday November 19, but strong demand is expected to push up prices by the end of the month against relatively tight supply, trade sources said.The UK market is at its highest level so far this year and any move up to ?200 ($270) per tonne would be the first time the British market has...Read More
Turkish steel scrap import prices recovered with a fresh European cargo deal heard at the end of the week, market participants told Fastmarkets on Friday November 19.A steel mill in the Marmara region booked a European cargo comprising HMS 1&2 (75:25) at $486 per tonne and bonus at $506 per tonne cfr. The cargo composition was not clear at the time of publication. The previous deep-sea deal was he...Read More