Prices for light iron steel scrap in the United Kingdom have slipped at the top end of the current range amid steady trading, with the market buoyed by a recovery in export prices so far this month, sources told Fastmarkets on Friday March 8.The inter-merchant light iron scrap price, which dropped ?5 ($6.60) per tonne last week, has been reacting to a fall in export prices in late February, altho...Read More
The market for pig iron exports from the Commonwealth of Independent States (CIS) has strengthened on resumed sales to the United States, which is the key outlet, Fastmarkets was told on Thursday March 14.Fastmarkets' price assessment for CIS exports of high-manganese pig iron was $340-350 per tonne fob Black Sea on March 14, widening upward from $340-345 per tonne fob a week before.One deal was h...Read More
Forward cargoes of seaborne coking coal continued to fetch lower prices on Friday March 15 while those for April-laycan shipments held steady.On the Global Coal trading platform, a July-laycan cargo in the branded segment was traded at $196 per tonne fob Australia, while a bid for an April-laycan cargo in the same segment was made at $212.50 per tonne, up $0.50 per tonne from the last bid. The tra...Read More
Participants in China's rebar market reacted differently to the impending reduction of value-added tax in the country, resulting in a widening of domestic prices on Friday March 15.Domestic Eastern China (Shanghai): 3,800-3,860 yuan ($565-574) per tonne, widened by 10 yuan per tonne on both ends Northern China (Beijing): 3,790-3,850 yuan per tonne, widened upward by 20 yuan per tonneChina's value-...Read More
China's domestic hot-rolled coil prices moved down on Friday March 15 due to inactivity and declining futures following the announcement of cuts to the country's value-added tax. DomesticEastern China (Shanghai): 3,790-3,810 yuan ($564-567) per tonne, down 40 yuan per tonneNorthern China (Tianjin): 3,750-3,770 yuan per tonne, down 10 yuan per tonneTrading activity was lower than that on Thursday w...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday March 15:Minor metalsAntimony MMTA standard grade II, $/tonne: $7,400-7,700 per tonne from $7,500-7,800Bismuth MB free market, $/lb: $3.40-3.90 per lb from $3.55-3.90Bismuth MB China domestic, yuan/tonne: 46,500-48,500 yuan per tonne from 47,000-49,000 yuanChromium MB free market alumino-thermic, $/tonne: $8,550-9,200 per tonne from $...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Three-month base metals prices on the London Metal Exchange were mixed this morning, Friday March 15, with copper, aluminium and nickel up by an average of 0.6%, while zinc, lead and tin were down by an average of 0.6%. Three-month copper was recently quoted at $6,449 per tonne, up by 1% compared with Thursday's close at $6,385 per tonne. Volume was significantly above average, with 19,661 lots tr...Read More
Prices for long and flat stainless steel products in Europe were stable this week, with market participants reluctant to accept higher offers, sources told Fastmarkets on Friday March 15.Fastmarkets price assessment for grade-304 cold-rolled (CR) sheets, delivered to Northern Europe, was unchanged week on week at ?,?2,100-2,150 per tonne on March 15.Offers were heard at ?,?2,200 per tonn...Read More
Import prices for ferrous scrap in Asia generally rose further this week amid steady buying interest and higher offers, market participants told Fastmarkets.Rising scrap values in Turkey and Japan continued to support market sentiment and encouraged sellers to maintain or increase their asking prices, sources said.VietnamSteel mills in Vietnam were still looking to buy scrap this week, especially...Read More
Fastmarkets today launches a monthly price assessment for Ferrous scrap No E40 (shredded steel scrap), delivered to mill, Italy, ?,?/tonne.After a one-month consultation period, Fastmarkets has launched a monthly assessment for Ferrous scrap No E40 (shredded steel scrap), delivered to mill, Italy, ?,?/tonne.The consultation period ended on March 14, with the assessment coming into effect from Marc...Read More
The prices for nickel and copper were the poorest performers in trading on the London Metal Exchange on Thursday March 14, Fastmarkets has heard.Weaker data on China's industry drove the LME three-month nickel price down by 2.2% to $13,185 per tonne at the close of trading."The January-February combined data on Chinese industrial production, retail sales and fixed asset investment failed to provid...Read More
BCS Global Markets, one of Russia's largest securities brokers, believes that Russian oligarch Roman Abramovich's newly-acquired shareholding in Russia's largest miner Nornickel may lose value.Abramovich's investment firm Crispian Investments acquired the 2.5% stake for $551 million on Wednesday March 13.But the oligarch's share may depreciate in value in line with expectations that nickel prices...Read More
Fastmarkets' alumina index fob Australia moved above $400 per tonne and to its highest since mid-December 2018 following increased buying demand in the market and continued tight supply. The daily fob Australia alumina index rose to $402.70 per tonne on Thursday March 14, up from $396.92 per tonne the previous day and 3.5% higher week on week. Key drivers Renewed bullish sentiment in th...Read More
Fastmarkets' alumina index fob Australia moved above $400 per tonne and to its highest since mid-December 2018 following increased buying demand in the market and continued tight supply. The daily fob Australia alumina index rose to $402.70 per tonne on Thursday March 14, up from $396.92 per tonne the previous day and 3.5% higher week on week. Key drivers Renewed bullish sentiment in th...Read More
Backers of Freepoint Commodities have given the merchant trader approval to make further long-term investments in copper assets, the firm's commodities strategist, David Wilson, said at the International Copper conference in Amsterdam on Wednesday March 13. "Internally I can see that there is more appetite for us to invest in copper assets as well as trading. There's definitely a change in sentime...Read More
South African state power utility Eskom has implemented load shedding for the first time this month amid lingering power constraints, sparking predictions of ferro-chrome price spikes if the situation deteriorates. Load shedding - controlled power outages - were last implemented in mid-February and were reported to have affected large industrial power users, including ferro-chrome smelters. After...Read More
Exchanges have an important role to play in the growing push for the use of Environmental, Social and Governance (ESG) criteria in investing, the chief executive officer of the London Metal Exchange said. Matthew Chamberlain said that the lack of a global regulatory body policing ESG criteria meant that sometimes it falls to exchanges and other market infrastructure players to step up and use thei...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More