The second- and third-largest tin producers in the world, PT Timah and the Malaysian Smelting Corporation (MSC), both reported strong financial results for the nine-month period to September 2021 on record-high tin prices. In the January-September period of 2021, the London Metal Exchange Tin Cash price averaged $30,039 per tonne, nearly doubling the average of $16,556 per tonne from the same peri...Read More
Carbon steel plate prices in the United States were steady at an all-time high on Friday November 12, but market sentiment has grown increasingly mixed for the rest of the 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 November 12, an all-time high and up sharply from $27.50 per cwt one ye...Read More
Prices for hot-rolled coil in the United States finished the week below $93 per hundredweight ($1,860 per short ton) for the third consecutive day and at its lowest level since late July, with sources saying further price corrections are possible in the coming weeks.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $92.29 per cwt ($1,845.80 per ton) on Friday November 1...Read More
Brazilian slab export prices increased in the week ended Friday November 12, with producers raising offers but negotiations slow due to uncertainty in the flat steel markets.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was $730-760 per tonne on Friday November 12, up from $730-740 per tonne a week before.Offers were reported at $740-760 per tonne fob, with the...Read More
A summary of German steelmaker Salzgitter's financial results for the third quarter of 2021, running from July 1 to September 30.In briefRecovery in the European flat steel market and high steel prices led to a strong performance in the third quarter, particularly in the Strip Steel and Trading units of the company, Salzgitter said on Friday November 12.A strong economic upswing in the first half...Read More
The market for pig iron exports from the south of Brazil remained stable during the week ended Friday November 12 due to limited trading.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-510 per tonne on Friday, unchanged week on week.Read More
The United Kingdom inter-merchant light-iron steel scrap spot price was steady for the second consecutive week as of Friday November 12, with tight supplies from lower scrap generation and competitive dockside trading supporting the British domestic market, trade sources said.The UK market has also garnered support from domestic monthly prices into British steelworks that settled ?20-25 ($27-33)...Read More
A wide gap between bids and offers in the major deep-sea markets for ferrous scrap prevented deals being made for much of the week ended Friday November 12, sources have told Fastmarkets.?EUR?Turkey steelmakers struggle to buy December-delivery scrap?EUR?US suppliers resist lower bids amid tight supplies?EUR?Vietnam quiet amid volatile markets?EUR?Bids, offers remain far apart in cfr China market?...Read More
United Kingdom monthly price settlements for steel scrap deliveries into domestic steelmakers increased by ?20 ($26.78) or ?25 per tonne for November, depending on grade, on tight supply due to fewer arisings from new car production, and strong British scrap export markets.Scrap suppliers won increases of ?25 per tonne for low residual and clean grades of scrap, and around ?20 per tonne for ot...Read More
The United States' pig iron import market increased during the week to Friday November 12, with suppliers continuing to insist in higher prices.Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was at $570-575 per tonne on Friday, up from $550-570 per tonne a week earlier.Suppliers of low-phosphorous pig iron, both from the...Read More
Prices for shredded steel scrap imported into Pakistan and India diverged on Friday November 12; the latter weakened and halted purchases, sources told Fastmarkets.PakistanTraders opted to sell their material into the Pakistan market during the week after the nearby Indian market underwent a downward correction, while Pakistan prices remained firm.Fastmarkets calculated its weekly steel scrap, shr...Read More
The Turkish steel mills have ended the working week with only three deep-sea cargoes amid limited finished long steel demand in the export markets, sources told Fastmarkets on Friday November 12.A steel mill in the Izmir region booked a United States cargo late on Thursday November 11 consisting of 14,000 tonnes of HMS 1&2 (80:20) at $500 per tonne and 30,000 tonnes of shredded at $520 per tonne c...Read More
The export pig iron market from the Black Sea area softened again in the week ended Thursday November 11 on weaker market fundamentals, sources have told Fastmarkets.Fastmarkets' price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $520-540 per tonne on November 11, narrowing downward from $520-545 per tonne a week before."Iron ore prices are weak, the Chinese ma...Read More
The seaborne low-volume pulverized coal injection (PCI) cfr price plummeted in the week to November 12 on the latest trades and offers. The fourth round of Chinese domestic coke price cuts began, and seaborne coking coal prices in both the cfr and fob markets were relatively flat on Friday.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $522.01 per tonne, unchangedHard coking coal,...Read More
Seaborne iron ore prices edged lower on Friday November 12, after more steel mills took the opportunity to carry out blast furnace maintenance after margins tightened significantly over the week, sources told Fastmarkets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $89.69 per tonne, down $2.88 per tonne62% Fe low-alumina fines, cfr Qingdao: $91.39 per tonne, down $2.64 per tonn...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses broadly increased during the week to Friday November 12, with tin recording the largest gain in percentage terms of 119.6%.Sister metals zinc and lead were the only base metals to register a decline in SHFE stocks over the past week, according to the exchange's weekly stocks report.Tin inventories gained 1,502 ton...Read More
Spot trading activity for hot-rolled coil in China was muted on Friday November 12 amid falling prices, after euphoria over a possible easing in property financing waned and raw materials pulled back on improved coal supply.DomesticEastern China (Shanghai): 4,760-4,810 yuan ($744-752) per tonne, down by 90 yuan per tonneNorthern China (Tangshan) weekly assessment: 4,900-4,930 yuan per tonne, down...Read More
Futures prices across the London Metal Exchange base metal complex were relatively steady with only modest price movements at the 9am open on Friday November 12, following a strong performance at the 5pm close on November 11.The US dollar index continued to perform strongly. It was at 95.13 at the 9am open, posting only a modest decline from 95.16 at yesterday's close. This strong dollar has the p...Read More
Sellers in China's domestic rebar market on Friday November 12 attempted to build on the momentum of a day earlier by raising their offers, but losses in the futures market due to falling coal prices capped the increases.Domestic Eastern China (Shanghai): 4,800-4,830 yuan ($751-755) per tonne, up by 30-50 yuan per tonneNorthern China (Beijing) weekly assessment: 4,520-4,600 yuan per tonne, down by...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Friday November 12, but those on the Shanghai Futures Exchange were mainly firmer while they followed Thursday's strong gains on the LME.Geopolitical tensions rise after the United States warns the European Union that Russia might invade Ukraine.Given the EU has become rather dependent on Russian natural gas, Russia may f...Read More