Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
The downward pressure on flat-rolled steel import prices in South America persisted in the week ended Friday November 5, with buyers still cautious of ordering January-shipment cargoes while gauging future demand and overall pricing trends.More market participants expressed their fears during the week regarding an export duty being imposed on steel products from China from January 2022. They said...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More
The export pig iron market from the Commonwealth of Independent States softened in the week ended Thursday November 4 due to demand from the United States at lower prices than neighboring markets.Fastmarkets' price assessment for high-manganese pig iron export, fob main port Black Sea, CIS $520-545 per tonne on November 4, down from $550 per tonne a week before.Buyers in the United States, who hav...Read More
Ferrous scrap prices in the global markets were unstable in the week ended Friday November 5 because deep-sea import prices in Turkey, the biggest scrap importer, fell earlier. But they rebounded toward the end of the week, while suppliers in the United States were able to resist the decline because of strong domestic demand. Turkish import prices rebounded late in the week Strong domestic demand...Read More
Domestic prices of hot-rolled coil in Europe were fairly stable on Friday November 5, reflecting limited market activity, sources told Fastmarkets.Despite the lack of trading, sentiment remains positive in anticipation of restocking by distributors, upward pressure on prices from high energy and transport costs and because of the agreement reached between the United States and the EU on Section 23...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More
Spot prices for hot-rolled coil in China edged lower on Friday November 5, while futures prices set a new nine-month low.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($775-781) per tonne, widening downward by 20 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,030-5,090 yuan per tonne, down by 260-270 yuan per tonne Spot HRC prices in eastern China ended the week down by 340-370...Read More
Buyers in the Philippines have purchased imports of steel billet at largely flat prices despite the crash in the Chinese market this week, sources told Fastmarkets on Friday November 5.The Chinese ferrous futures markets have continued to nosedive this week, further reducing the prices in the country's domestic steel billet spot market. On Friday, key China market participants told Fastmarkets tha...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Most LME base metals prices were trading slightly higher on the morning of Friday November 5, following declines at the close on Thursday, but zinc's three-month price remained under pressure. The galvanizing metal dipped to $3,1248 per tonne on Friday during early trading, its lowest level since October 8. The price recovered to $3,197 per tonne shortly after 9am, but it was still 1.3% lower than...Read More
Some flat steel prices decreased in Turkey during the week ended Friday November 5; buyers were hesitant to book large tonnages because of the uncertainty, sources told Fastmarkets.Falling prices in China are behind the price drop; prices from the Commonwealth of Independent States have also decreased recently.Turkish flat steel producers accepted orders for January production during the week...Read More
ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.With the company moving forward scheduled engineering works by a month due to high electricity costs, steel production at Sestao will stop from the end of November until early next year, the spokesperson said."Production...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
A summary of Spanish stainless steelmaker Acerinox's financial results for the third quarter of 2021, ending on September 30.In brief?EUR? Earnings before interest, taxes, depreciation and amortization (Ebitda) increased for the fifth consecutive quarter - its third-quarter results were the best since the second quarter of 2007, Acerinox said.?EUR? It attributed its strong performance in the third...Read More
The United Kingdom inter-merchant light-iron steel scrap spot price was stable during the week to Friday November 5 on tight availability and steady dockside prices into export markets such as Turkey and the Indian subcontinent.With international scrap markets trading in United States dollars, the sterling/dollar exchange rate has a major effect on the UK's steel exports. Weaker sterling makes UK...Read More
An overview of the energy transition raw materials markets and their price moves in the week to Friday November 5.Susan Zou, Yingchi Yang and...Read More
Low-carbon aluminium differentials in Europe have widened after this week's United Nations environmental conference, COP26, put sustainability in the spotlight.Fastmarkets assessed the aluminium low-carbon differential P1020A, Europe, at $0-10 per tonne, up from $0-7 per tonne in the previous assessment on October 1."We would be looking for $10 per tonne minimum right now, and I think that is tota...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More