The three-month nickel price on the London Metal Exchange continued the previous day's momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday's close but remains broadly rangebound. The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday's closing pr...Read More
The price of grade-304 stainless steel flat products in Europe fell significantly over the past week on substantially lower monthly alloy surcharges for December, sources told Fastmarkets on Friday December 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,363-2,385) per tonne on Friday...Read More
The price of austenitic alloy steel scrap fell this week after further losses in the nickel market, sources told Fastmarkets on Friday December 6. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, ?720-780 ($946-1,025) per tonne on Friday, down ?,?20-30 per tonne week on...Read More
The spot premium for copper rod in the United States has risen for the first time since January, driven by a higher copper cathode premium for 2020 annual contracts.Fastmarkets assessed the copper rod premium, ddp Midwest US, at 16-18 cents per lb on Thursday December 5, up by 1 cent from 15-17 cents per lb previously and the first increase since January 3.The gain is due to the increase...Read More
Mining company AfriTin Mining has raised ?3.8 million ($5 million) through the establishment of an unsecured convertible loan note agreement with Switzerland-based trading house AfriMet Resources, the company said on November 26.The agreement was made for a total amount of ?3.8 million, in which the notes are allocated at a value of ?100,000 each under 18-month terms, and will hold an interest...Read More
Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.Copper also closed positively, ending just below $6,000 per tonne. The three-month tin price finished at $17,075 per tonne, up by 1.7% on Thursday's close. Turnover was high at around 475 lots by the close, the most since November 21.The metal ignored LME tin stock...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Metals conglomerate GFG Alliance has reached an agreement to acquire Aleris' aluminium rolling mill Duffel in Belgium, a GFG representative said on Friday December 6.The agreement for the sale of the mill is one of the conditions for the $2.6 billion merger of downstream aluminium product producers Novelis and Aleris, as laid out by the European Commission (EC) in October as part of its conditiona...Read More
Responsible sourcing initiatives are now a growing component of the metals and mining industry, with the London Metal Exchange recently issuing its requirements for compliance.Technology start-up company Minexx has broadened that effort, implementing blockchain technology to its pilot site in Rwanda in an effort to bring transparency and trust to the mining industry. Problems surrounding occupatio...Read More
Zinc stocks at Shanghai Futures Exchange-approved warehouses recorded the largest drop in percentage terms in the week ended Friday December 6. The galvanizing metal's inventory fell to 37,118 tonnes as of Friday, down 18.9% - or 8,654 tonnes - week on week. Nanchu's warehouse in Guangdong province, southern China, shed the most inventory among all SHFE-approved warehouses. It fell by 3,217...Read More
The three-month nickel price on the London Metal Exchange continued the previous day's momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday's close but remains broadly rangebound. The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday's closing pr...Read More
Despite day-on-day stability in the US hot-rolled coil market, sources expect the steady uptrend in spot prices to continue due to the just-concluded ferrous scrap settlement. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.08 per hundredweight ($561.60 per short ton) on Friday December 6, flat from the previous day.Inputs were received at $26-30 per cwt. Market c...Read More
Hot-dipped galvanized steel prices stepped higher in the United States while cold-rolled coil was steady this past week, but sentiment on demand remained mixed ahead of the December holiday season.Fastmarkets' assessment for steel hot-dipped galvanized (base) coil, fob mill US was at $38 per hundredweight ($760 per short ton) on Thursday December 5, up by 1.3% from $37.50 per cwt previously."Most...Read More
Slab export prices from Brazil increased this past week, but most negotiations were paused due to the threat of tariffs by the United States against imports of Brazilian steel.Fastmarkets' weekly price assessment for steel slab exports, fob Brazil, was $370-395 per tonne fob on Friday December 6, up from $360-380 per tonne fob on November 29.The upper end of the range reflected recent offers...Read More
CIS export billet gained $10 per tonne in the week to Friday December 6, with customers accepting deals at higher prices in response to rising scrap costs.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS was $400 per tonne fob Black Sea on Friday, against $390 per tonne fob on the same day last week.Sales of CIS-origin billet were done to North Africa...Read More
Indian importers have started booking hot-rolled coil after a break of three months, after the latest round of domestic price increases made HRC imports commercially viable.Fastmarkets' assessment for steel HRC, import, cfr main port India, was $480-485 per tonne on Friday December 6, compared with $450-455 per tonne last week. The latest assessment is based on South Korea-origin HRC import bookin...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), increased in the week to Friday December 6, and most producers stopped accepting new orders because they are planning to raise prices further, sources told Fastmarkets.Steel prices have increased due to higher raw materials and hot-rolled coil prices, they added.Fastmarkets' daily inde...Read More
The import pig iron market in the United States was calm during the week ended Friday December 6, but sentiment was positive due to an increase in scrap prices.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $330-340 per tonne on Friday, up from $325-326 per tonne a week earlier."Higher scrap [prices] will drive pig iron prices up, but it is a quest...Read More
The export pig iron market in the Commonwealth of Independent States was calm during the week ended Thursday December 5, with suppliers sold out and waiting for higher prices.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea was $305-310 per tonne on December 5, increasing by $5 per tonne week on week."Mills have nothing to sell for this ye...Read More
The price of ferrous scrap imported into India moved up again this week ahead of a seasonal slowdown for the European holiday season, sources told Fastmarkets on Friday December 6.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $286.46 per tonne on Friday, up from $282.56 per tonne one week previous.One deal was heard for shredded material into India at $291 per tonne this w...Read More