London Metal Exchange three-month base metals prices were mixed during morning trading on Thursday November 5, with slow progress in the US presidential election capping momentum, while aluminium futures fell after a contango returned across its benchmark forward curve.At the time of writing, presidential candidate Joe Biden remains ahead of incumbent Donald Trump, according to data compiled by th...Read More
Australia-origin copper concentrates bound for China are being diverted on the water and ahead of shipment next year, after Chinese buyers were reportedly told to comply with an "unofficial order" to restrict the material's entry this week.Europe, Japan, India and Southeast Asia have been tabled as potential alternative destinations to receive offers of the concentrates, either by spot sales or th...Read More
Here are five Fastmarkets stories you might have missed on Thursday November 5 that are worth another look.Mexican steelmaker Ternium intends to start operations at its new hot-rolling mill in the country's northeastern Pesquer?-a city in July 2021, it has announced.Australia-origin copper concentrates bound for China are being diverted...Read More
Mexican steelmaker Ternium intends to start operations at its new hot-rolling mill in the country's northeastern Pesquer?-a city in July 2021, it has announced.The new equipment, from an investment of $1.1 billion, was expected to gradually increase production from July to the end of 2021, chief executive officer M??ximo Vedoya told analysts in a conference call on Wednesday November 4."The date f...Read More
Domestic prices for steel cold-rolled coil (CRC) in Europe moved up slightly in the week to Wednesday November 4, supported by good order books at domestic mills, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe was ?,?580-595 ($678-696) per tonne on November 4, up compared with ?,?580-590 per tonne a week earlier.The assessm...Read More
Domestic rebar and wire rod prices in Turkey continued to climb over the past week because of the weakening Turkish lira, sources told Fastmarkets on Thursday November 5.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Turkey, was 4,530-4,640 lira ($537-550) per tonne on Thursday, up from 4,450-4,500 lira per tonne last week.The increase followed a fu...Read More
The Turkish long steel export market remained unmoved on tight supply and high scrap costs over the past week, sources told Fastmarkets on Thursday November 5.Mills in the country achieved sales at $450-455 per tonne fob in previous weeks and set their offer price at $455-460 per tonne fob last week, which they are still offering. A cargo of Turkish rebar was sold to Peru at $450 per tonne fob in...Read More
A summary of the operational results for Ukrainian steelmaker ArcelorMittal Kryvyi Rih (AMKR) for the first nine months of 2020.In brief AMKR cut its pig iron output by 12.1 % year-on-year in January-September 2020 to 3.6 million tonnes, from 4.1 million tonnes a year earlier. Crude steel output was reduced accordingly to 3.5 million tonnes, against 4.1 million tonnes in the corresponding period l...Read More
A summary of the operational results for Ukrainian steelmaker Metinvest for the third quarter of 2020.In brief In July-September this year, Metinvest increased steel slab sales by 31% quarter on quarter to 635,000 tonnes, from 483,000 tonnes, thanks to a recovery in market demand after Covid-19-related lockdowns. Over the first nine months of the year, slab shipments increased by 18% to 1.65 milli...Read More
Seaborne premium hard coking coal and hard coking coal prices in the cfr China market went up on Thursday November 5 due to the ongoing restriction on Australian coking coal imports, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $106.25 per tonne, down $0.55 per tonne Premium hard coking coal, cfr Jingtang: $139.47 per tonne, up $2.45 per tonneHard coking coal, fo...Read More
Seaborne iron ore prices largely flat on Thursday November 5 because market participants are still awaiting the official results of the presidential election in the United States, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.95 per tonne, up $0.04 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.08 per tonne, up $0.08 per tonne58% Fe fines high-grade pr...Read More
A summary of the operational results for Russian steelmaker Metalloinvest for the third quarter of 2020.In brief Metalloinvest cut its pig iron sales more than twice to 216,000 tonnes in the third quarter, down by 53.5% from 465,000 tonnes a year before.Over the first nine months of 2020, pig iron shipments hit 919,000 tonnes, down by 33.9% from 1.4 million tonnes over the same period last year.Re...Read More
Export prices for lower-impurity steel scrap grades from Japan jumped over the past week following greater buying interest from South Korean mills, market participants told Fastmarkets."The Japanese market is hot right now- a South Korean steelmaker increased its bid price for H1, plate & structural (P&S), Shindachi and shredded, while other mills are negotiating privately and paying [even] m...Read More
China's upcoming steel scrap futures looks set to be a game changer for the international community dealing in the steelmaking raw material.It will open up a whole new world of opportunities for both domestic and international traders, especially those who have been looking to capitalize on the massive size of China's domestic scrap market.While the Dalian Commodity Exchange (DCE) has yet to relea...Read More
China's hot-rolled coil prices rose further on Thursday November 5, inventory levels continuing to fall in the past week.DomesticEastern China (Shanghai): 4,010-4,030 yuan ($600-603) per tonne, up 10-30 yuan per tonneSellers in eastern China kept raising their offers upon hearing of a drop in HRC inventories in the spot market.A domestic steel consultancy reported that China's HRC spot market had...Read More
China's domestic rebar prices moved up sharply on Thursday November 5 following the release of data indicating a drop in output and inventory levels in the past week. DomesticEastern China (Shanghai): 3,870-3,900 yuan ($579-583) per tonne, up by 40-50 yuan per tonneFalling rebar output and inventories took pressure off prices, market sources said. A total of 3.59 million tonnes of rebar were produ...Read More
Fastmarkets has reworked the market reports it previously published for the minor metals, noble alloys and battery raw materials to align them with end-use segments. The publication schedule for market reports is as follows, with links to recent versions: Wednesdays: Specialty steel raw materials market report Consumer electronics market report Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade,...Read More
A summary of stainless steel producer Outokumpu's results for the third quarter of 2020. In brief Outokumpu's sales, deliveries and earnings decreased quarter on quarter amid continued Covid-19 pressures, following negative results in the second quarter. In Europe, rising competition from Asian imports and the typical seasonal consumer slowdown contributed to a challenging quarter. The...Read More