The following Fastmarkets non-ferrous European free market scrap prices changed on Friday January 18:Aluminium ingotDuty paid delivered works...Read More
Import prices for ferrous scrap in Vietnam continued to fall this week amid bearish sentiment in the market, while those in Taiwan held up due to low selling interest and sluggish trading.In contrast, steel mills in South Korea continued to book large quantities of ferrous scrap in the early part of the week from the United States.VietnamImport prices into the Southeast Asian nation softened again...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday January 17, with zinc futures climbing just under 2% while positive trading in aluminium resulted in the metal's moderate volume the highest in today's trading. Zinc's three-month price rallied throughout the afternoon to breach its nearby $2,500-per-tonne resistance level and close at its highest level...Read More
The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More
China's exports of unwrought aluminium and aluminium products increased by 19.8% in December 2018 compared with December 2017, but down 0.6% from November 2018, according to preliminary Chinese customs data.China exported 527,000 tonnes of unwrought aluminium and aluminium products in December, a 87,000-tonne increase from the same month of 2017 and 3,000 tonnes less than in November 2018, customs...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 17 that are worth another look.China's auto sales fell last year for the first time since the 1990s, dampening expectations for steel demand in 2019 although some in the market think that there are still opportunities for steelmakers to remain profitable.The London Metal Exchange announced it will launch seven new...Read More
United States-based Alcoa, the world's eighth-largest aluminium producer, has forecast a surplus of alumina in 2019 while it increases metal production across the board.There was a 600,000-tonne deficit of alumina at the end of 2018, the company said, rounding off a year of record market tightness.Fastmarkets' alumina index rocketed upward to $707.75 per tonne on April 24, 2018, the highest since...Read More
Indonesia's Gresik 300,000 tpy copper smelter has yet to resume full operations after an earlier maintenance shutdown caused by an oxygen plant issue, Fastmarkets has learned. "The oxygen plant, which is operated by the third party has resumed, but not reached full operations. Therefore, although Gresik smelter has partially resumed since the middle of December 2018, it has not returned normal ope...Read More
Fastmarkets' minor metals team answers some of the key questions raised during our recent web seminar, discussing recent market trends in minor metals, and the factors expected to drive price moves in 2019. If you missed it, follow this link to listen to the free recording. Has smuggling affected any other metals apart from antimony? Is it only antimony that is being smuggled? It is not only antim...Read More
The London Metal Exchange has announced it will launch seven of its new cash-settled futures products on March 11, and has selected Fastmarkets to be the price provider for three of the new contracts.In total, there will be two new ferrous contracts, three new contracts into the LME's aluminium suite and two minor metals contracts. "The introduction of new contracts is a strategically important gr...Read More
Turkish steel producers have resumed their deep-sea scrap purchases for January-February at higher prices, sources said on Thursday January 17.Suppliers were seeking higher prices for their scrap because of the rise in collection costs during the difficult winter season, sources said.A steel producer in the Marmara region booked a Canadian cargo, comprising 17,000-20,000 tonnes of HMS 1&2 (90:10),...Read More
Former trader at Kyen Resources, Nishchay Chadha, has joined Viant Commodities as their head of trading in the Viant office in Singapore, Fastmarkets has learned. Chadha will oversee the refined metal and scrap trading business at Viant Commodities, a source close to...Read More
The import price for steel billet in Southeast Asia edged down on Thursday January 17 amid lower bids from buyers who expect further price drops, although trading activity has picked up in the region this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $445-448 per tonne cfr Manila on Thursday, narrowing downward by $2 per tonne on the high end from $445-450 per to...Read More
The Comex copper price reversed lower in the US morning on Thursday January 17 with the market unable to find solid direction amid a lack of news on trade developments between the United States and China. The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 0.95 cents to $2.6640 per lb. "We are seeing modest losses across the metals board in relati...Read More
Three-month base metals prices on the London Metal Exchange exhibited mixed movements whileconsolidating this morning, Thursday January 17. Copper, nickel, lead and zinc were down by between 0.1% and 0.5%, while aluminium and tin prices were up by 0.3% and 0.4% respectively. The three-month copper price was off by 0.1% at $5,973 per tonne.Volume across the LME base metals complex was above average...Read More
The London Metal Exchange will launch a new cash-settled cobalt contract on March 11, settled against the benchmark standard-grade cobalt price assessed by Fastmarkets. The final settlement price will be an arithmetic average of the twice-weekly Fastmarkets standard-grade cobalt price in the expiring contract month. Fastmarkets achieved type 1 IOSCO assurance for its standard-grade cobalt price in...Read More
Domestic prices for hot-dipped galvanized (HDG) coil in Europe have been stable over the past week because market activity has not recovered fully after the new year holidays in the EU, sources told Fastmarkets on Thursday January 17.The prices for HDG, however, might move up due to the effects from the imposition of definitive measures in the safeguard case on steel product imports by the Europea...Read More
Domestic prices for cold-rolled coil (CRC) in Southern Europe have moved downward over the past week due to the slowness of the market, sources told Fastmarkets on Thursday January 17.The outlook remained negative because demand was likely to remain low and there will be reduced support because of the upcoming definitive measures in the European Commission's (EC) safeguard case against steel produ...Read More
Domestic prices for hot-rolled coil (HRC) in the EU were expected to move down slightly while trading activity remained slow, sources told Fastmarkets on Thursday January 17.In addition, the definitive decision in the safeguard investigation by the European Commission (EC) is expected to have little effec on the HRC market, according to market sources. So EU mills are unlikely to achieve any price...Read More
European steel association Eurofer is concerned that the definitive measures in the European Commission's safeguard case against steel product imports will not be enough to protect the region's markets from material redirected from the United States."While we welcome this endorsement, we are nevertheless worried that the form of the final measures may undermine their intended safeguarding function...Read More