An overview of the minor metals markets and the reasons for any price moves. Read More
Global scrap prices pushed upward during the working week from Monday January 28 to Friday February 1, driven by heightened demand due to restocking activity from steel mills worldwide. Steelmakers in Turkey secured at least 17 ferrous scrap cargoes over the past week, pushing Turkish scrap import prices and US ferrous scrap export prices higher during that period. Asian and Indian import pri...Read More
Light iron steel scrap prices in the United Kingdom increased for the second consecutive week on tighter availability because collection rates have dropped off amid freezing temperatures in the week to Friday February 1.The move to higher prices is only the second increase since the start of November 2018, and puts the market at a level last seen on December 14. Major shredders need a high, steady...Read More
Alloy steel scrap prices in Europe increased in the week ended Friday February 1 because of higher costs for nickel and molybdenum.The largest gains were seen in the price of European 18/8 scrap solids imports, which moved up by ?,?20-40 per tonne to ?,?940-980 ($1,079-1,125) per tonne cif on Friday.The UK domestic price for 18/8 solids increased more modestly, with traders complaining that mills...Read More
The price of copper on the Comex exchange in the United States edged lower in the final session of trading on Friday February 1, with the market awaiting further news on US-China trade talks.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 0.20 cents to $2.7825 per lb.Price action in the red metal has been positive throughout the week, on lo...Read More
Further weakness in China's Caixin manufacturing purchasing managers' index (PMI), that fell to 48.3 in January from 49.7 in the prior month, was enough to dent confidence in the base metals market this morning, Friday February 1, with prices for the most part weaker as a result. Three-month base metals prices on the London Metal Exchange were down by an average of 0.3% this morning, with aluminiu...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic battery-grade lithium-carbonate spot price remained stable this week, while the transportation of lithium compounds stopped ahead of the Lunar New Year holiday (February 4-10).Battery-grade lithium carbonate prices stable ahead of the holiday. Lithium hydroxide prices unchanged on thin trading activity. Seaborne Asian cif China, Japan & Korean prices remain unchanged.&nb...Read More
Steel coil prices in Turkey increased again this week because of the high cost of scrap alongside other global price increases, with more increases expected, sources told Fastmarkets on Friday February 1.Hot-rolled coil (HRC) stocks are low in the country because buying was weak for a long time when prices were falling.Fastmarkets' daily index for Northern Europe-origin HMS 1&2 (80:20) scrap - a r...Read More
Indian mills are likely to increase their domestic prices for hot-rolled coil (HRC) in February sales by about 1,000 rupees ($14) per tonne because of rising international HRC prices, particularly in China, Fastmarkets heard on Friday February 1.Officials from at least two mills confirmed the likelihood of a price rise. Indian mills were likely to issue new price lists next week, the officials sai...Read More
Coated steel prices in Turkey increased in the week ended Friday February 1, with some producers closing their sales books because they were short of the hot-rolled coil (HRC) base material.The producers had low stocks of HRC, and they wanted to wait and see how much the price of this commodity will increase before announcing new prices for coated coil, sources told Fastmarkets.Fastmarkets' weekly...Read More
The growth in apparent steel consumption in the EU will slow to only 0.5% in 2019, followed by a 1.2% rise in 2020, European steel association Eurofer said on Thursday January 31.Europe's apparent steel consumption was forecast to reach 164 million tonnes in 2019 and 166 million tonnes in 2020.These numbers are "less than one-third of the compound annual growth rate of apparent steel consumption o...Read More
The levels of the quotas set as definitive measures by the European Commission (EC) will not stop the rise in the region's import volumes, European steel association Eurofer said on Friday February 1.The EC will impose definitive safeguard measures from February 2 on a list of imported steel products, in the form of tariff rates and a range of quotas that are partly annual and country-specific and...Read More
Domestic prices for rebar in Poland have been stable over the past week, sources told Fastmarkets on Friday February 1.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was steady at 2,170-2,240 zloty ($583-601) per tonne ex-works on February 1.The steelmakers, however, were expected to raise their offers because of expected growth in scrap costs and the effects of the Eu...Read More
Global scrap prices pushed upward during the working week from Monday January 28 to Friday February 1, driven by heightened demand due to restocking activity from steel mills worldwide. Steelmakers in Turkey secured at least 17 ferrous scrap cargoes over the past week, pushing Turkish scrap import prices and US ferrous scrap export prices higher during that period. Asian and Indian import pri...Read More
Courts in Brazil have ruled that up to 12.6 billion Reais ($3.44 billion) of Vale's assets and resources will be frozen after the rupture of a tailings dam at Vale's C??rrego do Feij??o iron ore mine, the miner stated on Friday February 1.The federal prosecutors' office, state prosecutors and the state government of Minas Gerais, where Feij??o is located made most of the complaints. Additionally,...Read More
Light iron steel scrap prices in the United Kingdom increased for the second consecutive week on tighter availability because collection rates have dropped off amid freezing temperatures in the week to Friday February 1.The move to higher prices is only the second increase since the start of November 2018, and puts the market at a level last seen on December 14. Major shredders need a high, steady...Read More
Turkish domestic rebar and billet prices continued to rise this week in response to rising deep-sea scrap costs, although demand for steel was weak due to the seasonal slowdown in the country's construction sector.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY2,970-3,005 ($555-560) per tonne ex-works on Thursday January 31, up from TRY2,820-2,850 ($531-537) per tonne ex-...Read More
Turkish producers of steel billet, rebar and wire rod continued to increase prices for foreign customers following the uptrend in imported scrap values - despite customers appearing unwilling to accept any rises.However, there was little demand from customers for the higher prices and no significant bookings have been heard over the past week, sources said on Thursday January 31.Export billet...Read More
China's rebar prices were unchanged on Friday February 1 with both the domestic and export markets at a virtual standstill due to next week's Chinese New Year holiday. Domestic Eastern China (Shanghai): 3,710-3,750 yuan ($553-559) per tonne, unchangedNorthern China (Beijing): 3,700-3,740 yuan per tonne, unchangedVery few sellers were still offering materials during the day, and only transactions i...Read More