The cost of steel billet imported into Southeast Asia continued to decline over the past week, with sellers able to attract some buyers with lower offer prices, market participants told Fastmarkets on Tuesday February 9.Billet consumers in Southeast Asia have been largely absent from the market in recent weeks, but the most recent drop in offer prices has stimulated greater interest on the bu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More
Hot-rolled coil prices in the United States slipped from an all-time high while market participants debated whether the rally had run its course.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $58.96 per hundredweight ($1,179.20 per short ton) on Tuesday February 9, down by 0.47% from a record $59.24 per cwt on Monday February 8. Still, the current price is up by 1.99...Read More
Ferrous scrap prices in Mexico largely declined in the week ended on Friday February 5, with buyers struggling to reduce their purchase prices.Mexican steel producers attempted to secure price cuts in their purchases of the steelmaking raw material, of around 200-300 pesos ($10-15) per tonne, in both regions during the week. But many higher-volume trades were heard at stable prices.Fastmarket...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 9.Please click...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 9 that are worth another look.Australia's Port of Port Hedland shipped 4% more iron ore in January compared with a year earlier, though shipments were lower than those made in December, data from the Pilbara Ports...Read More
Hong Kong Exchanges & Clearing Limited (HKEX) has appointed Alejandro Nicolas Aguzin as its new chief executive officer, effective May 24, 2021. Aguzin will serve a term of three years until May 23, 2024, subject to the approval of the Securities and Futures Commission. Aguzin will also become an ex-officio member of the HKEX board of directors on the same day. HKEX is the owner of the London Meta...Read More
Base-metal prices on the London Metal Exchange rose across the board on Tuesday February 9, with copper showing the most marked increase of 1.4%, given the continued fall of the US Dollar Index.Meanwhile, attention to the Chinese New Year holiday, February 11-17, seemed to be taking a back seat.The Dollar Index came to 90.55 on Tuesday at 5pm, having bottomed at 90.50 throughout trading, its lowes...Read More
The seaborne coking coal market was flat amid limited trading activity, sources told Fastmarkets on Tuesday February 9.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.04 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $217.23 per tonne, unchangedHard coking coal, fob DBCT: $133.57 per tonne, unchangedHard coking coal, cfr Jingtang: $203 per tonne, unchan...Read More
Iron ore prices pushed up on Tuesday February 9, supported by the expectation of a positive outlook for demand after the Chinese New Year holiday, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $164.10 per tonne, up $3.60 per tonne62% Fe low-alumina fines, cfr Qingdao: $164.46 per tonne, up $3.66 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nb...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The uptrend in European flat steel prices continued in January 2021 as expected, with the prices for hot-rolled coil in the North and South of the region averaging ?,?698 and ?,?686 ($840 and $826) per tonne respectively, within 1% of the Fastmarkets research forecasts.With European HRC prices climbing to their highest level...Read More
Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, with buyers holding back from making new deals because they anticipate a decrease in prices, sources told Fastmarkets.Domestic prices for hot-rolled coil across Europe were stable on Tuesday February 9, buyers hold back from making new deals on anticipated price decrease, sources told Fastmarkets.Fastmarkets calcu...Read More
Base-metal prices on the London Metal Exchange rose across the board on Tuesday February 9, with copper showing the most marked increase of 1.4%, given the continued fall of the US Dollar Index.Meanwhile, attention to the Chinese New Year holiday, February 11-17, seemed to be taking a back seat.The Dollar Index came to 90.55 on Tuesday at 5pm, having bottomed at 90.50 throughout trading, its lowes...Read More
The United States Midwest aluminium premium rose to a nearly six-month high on Tuesday February 9, with market participants increasingly bullish amid expectations that the Section 232 tariffs will persist after US President Joe Biden showed a willingness to invoke those tariffs last week.The Midwest premium is now at its highest level since mid-August 2020.Fastmarkets assessed the aluminium P...Read More
The global drive to a low-carbon economy will support new capacity growth, with aluminium and other industries restructuring and repositioning themselves, a senior executive at UC Rusal said.But whether this results in a premium or discount being paid for the material is not the key driver for this change, head of sales and marketing Roman Andryushin told Fastmarkets in an interview. "The supply s...Read More
Growth in China, the world's largest consumer of aluminium, may fluctuate over the coming months but is not expected to contract, according to the head of sales and marketing at UC Rusal. Roman Andryushin said he shares concerns that there may be pauses in Chinese growth, especially in the second half of the year, as the country works to rebalance its economy and prevent overinflation. At the same...Read More
UC Rusal is targeting sales of value-added products (VAP) to account for at least half of its total aluminium sales over the next 10 years, according to its head of sales and marketing. Roman Andryushin told Fastmarkets in an interview that the company may reach this sales level relatively soon and would then aim to boost the ratio even higher. "It's our priority for the next 10 years that we shou...Read More
South Korea's Public Procurement Service (PPS) has awarded a 1,500-tonne aluminium tender at a premium of $119 per tonne, which is about 2.5% lower than the premium for its previous tender a week ago. The awardee was once again Glencore International, according to the notice published by the state agency on Tuesday February 9. Glencore was also awarded the tender from PPS last week...Read More
Lower scrap costs in Turkey, along with a lack of demand for semi-finished steel, were the major reasons for falling billet export prices in the Commonwealth of Independent States on Tuesday February 9, sources told Fastmarkets. Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was calculated at $527 per tonne on Tuesday, down from $538 per tonne on Monday. Several market sour...Read More
Fastmarkets' Ferrous Analytics report helps subscribers...Read More