Here are five Fastmarkets stories you might have missed on Thursday October 1 that are worth another look.The fast steel market recovery seen in Brazil in the past few months has led the country's steelmaker association, Instituto A??o Brasil, to revise its forecasts for 2020 up significantly from previous expectations set...Read More
The three-month copper price on the London Metal Exchange tumbled at the close of trading on Thursday October 1, while the rest of the complex reacted to news that US lawmakers remained at odds over the country's pandemic relief efforts. Copper's outright price on the LME closed at $6,387 per tonne on Thursday afternoon, declining from an intraday high of $6,710 per tonne, while turnover was at it...Read More
The London Metal Exchange three-month lead price rose during morning trading on Thursday October 1, with a large fresh cancelation of some 15,075 tonnes supporting the incline while LME nickel futures similarly traded in positive territory despite thin volumes.LME lead's outright price was recently trading at $1,835.50 per tonne, climbing by 0.5% from a morning low of $1,811.50 per tonne, while tu...Read More
Base metals prices on the London Metal Exchange and pre-market western equity index futures were for the most part firmer this morning, Thursday October 1, albeit in quiet conditions with China, Hong Kong and South Korea closed for holidays and technical problems meaning the Tokyo Stock Exchange could not open.Japan's manufacturing purchasing managers' index (PMI) climbed to 47.7 in September from...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Across the regions, producers of welded linepipe and oil-country tubular goods (OCTG) saw their margins shrink with substrate costs increasing in the third quarter of 2020.Many have been attempting to protect margins with higher prices, with varying degrees of success. Europe-origin commodity-grade steel hot-rolled coil and...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While steel markets in Asia have demonstrated the most strength with regards to pricing through much of 2020, recent weeks have seen prices in Europe and the United States outperform those elsewhere.In a way, much of this is simply catching up on the gains already made by Asian steelmakers. They were able to obtain higher pri...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloys forecast highlights:Prices across most ore and alloy markets trended higher in September, buoyed by improving demand from steelmakers with the end of the summer holiday season in Europe and the United States, as well as maintained demand from Chinese steel mills. Tightening of alloy inventories...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese blast furnace (BF) utilization rates have stagnated and iron ore port stock volumes are rising, reaching their highest levels since March, which suggests that iron ore supply is becoming excessive while demand is not growing. Unsurprisingly, prices dropped last week and we expect the trend to continue. The market has...Read More
The three-month copper price on the London Metal Exchange tumbled at the close of trading on Thursday October 1, while the rest of the complex reacted to news that US lawmakers remained at odds over the country's pandemic relief efforts. Copper's outright price on the LME closed at $6,387 per tonne on Thursday afternoon, declining from an intraday high of $6,710 per tonne, while turnover was at it...Read More
Polish ferro-silicon producer Huta Laziska is set to produce a volume close to its capacity for 80,000-90,000 tonnes per year of standard-grade ferro-silicon (Si 75%) this year, amid signs of a rise in European spot prices, an industry source has told Fastmarkets.Huta Laziska has made only minor adjustments to its output so far in 2020, due to annual planned maintenance measures that have meant on...Read More
A summary of W Resources half-year results for the six months to June 30, 2020, at its La Parilla, tungsten and tin project in the Extremadura region of Spain.In brief:Following the completion of the construction of the La Parrilla plant in the second half of 2019, initial production commenced in late November 2019 and started ramping up at the beginning of 2020.Production in the first h...Read More
Members of Union No2 representing supervisors at the Chilean Escondida copper mine, operated by BHP, voted to strike following unsuccessful labor negotiations with the company, Union No1 said on Wednesday September 30. The latest offer from Escondida's management was rejected by 98.36% of votes from members of Union No2. According to Union No1, the largest union representing workers on the mine, n...Read More
Canada-headquartered Lundin Mining expects to partially resume operations at its Chapada copper-gold mine in the Midwestern Brazilian state of Goi??s within a week and return to full capacity usage in two months, the company said on Tuesday September 29.Lundin had to halt activities on Sunday September 27 after a power outage damaged four motors used for its semi-autogenous grinding (SAG) and...Read More
Alvance, the aluminium division of GFG Alliance, has completed the acquisition of Aleris' Duffel rolling mill in Duffel, Belgium, Alvance said on Thursday October 1. The ?,?310 million ($364.1 million) acquisition, which helped pave the way for the Aleris-Novelis merger earlier this year, took around 10 months to complete after the initial announcement last December. Alvance said on Thursday...Read More
The London Metal Exchange three-month lead price rose during morning trading on Thursday October 1, with a large fresh cancelation of some 15,075 tonnes supporting the incline while LME nickel futures similarly traded in positive territory despite thin volumes.LME lead's outright price was recently trading at $1,835.50 per tonne, climbing by 0.5% from a morning low of $1,811.50 per tonne, while tu...Read More
The refining charge (RC) for blister copper brought into China rose by 1.7% on Wednesday September 30 to its highest since June 2019, due to reported higher availability of domestic units and lackluster buying from smelters. Fastmarkets assessed the copper blister 98-99% RC spot, cif China at $140-160 per tonne on Wednesday, compared with $135-160 per tonne a month earlier. Offers for importe...Read More
Domestic reinforcing bar prices and demand in the United States were stable week over week, sources told Fastmarkets. Fastmarkets' price assessment for steel reinforcing bar (rebar), fob mill US held at $29.75 per hundredweight ($595 per short ton) on Wednesday September 30, down by 0.8% from $29.50-30.50 per cwt at the beginning of the year.US marketOverall market dynamics held steady heading int...Read More
Hot-rolled coil prices in the United States have climbed to their highest point in more than eight months on a supply squeeze and a wave of mill price increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $30.59 per hundredweight ($611.80 per short ton) on Thursday October 1, up by 1% from $30.29 per cwt on Wednesday September 20 and up by 2.4% from $29.87 per cwt...Read More
Prices for imported flat-rolled steel are mixed as the international market appears to show signs of leveling off - or at least is not shooting up as dramatically as domestic flat-rolled steel prices, market participants said.Hot-rolled coilFastmarkets' assessment for steel hot-rolled coil, import, ddp Houston, stands at $540-600 per ton, unchanged from the prior assessment two weeks ago on Septem...Read More
The fast steel market recovery seen in Brazil in the past few months has led the country's steelmaker association, Instituto A??o Brasil, to revise its forecasts for 2020 up significantly from previous expectations set in July.Full-year apparent steel consumption is now expected at 20 million tonnes, a 4.7% drop from 20.98 million tonnes in 2019. The previous estimate was for 17.96 million tonnes,...Read More