The London Metal Exchange has opened a consultation period on a host of proposed rulebook changes and regulatory amendments, seeking feedback from its members and other interested parties.The consultation period will last until February 11, 2019, according to a note to members released on Friday January 11.The process will consider five key amendments that relate to the exchange's preparation for...Read More
Base metals closed mostly higher on the London Metal Exchange on Friday January 11 on improving risk appetite, with nickel climbing above $11,400 per tonne.The three-month nickel price remains in an uptrend - it gained 2% today and is up by more than 8% from its lowest in 2018 at $10,530 per tonne on December 31 - while zinc climbed by 1.2% to close just below $2,500 per tonne, basis three months....Read More
Comex copper prices nudged higher on Friday morning in the US while the market awaits developments in the US-China trade talks aimed at resolving the trade war between the two countries.The copper price for March settlement on the Comex division of the New York Mercantile Exchange recovered by 0.75 cents to trade recently at $2.6450 per lb."We are constructive on copper for the first quarter...Read More
The domestic alumina market in China has shown no immediate effects from the country's official warning of an overcapacity for the material, issued at the end of last year.Fastmarkets assessed the free market price of metallurgical-grade alumina, delivered duty paid, at 2,800-2,900 yuan ($408-423) per tonne on Thursday January 10, unchanged from a week before but still its lowest level since July...Read More
Lead stocks on the Shanghai Futures Exchange (SHFE) surged by almost 80% week-on-week on Friday January 11.Stocks for other base metals, except copper, posted only modest increases and decreases over the week. Deliverable lead stocks at SHFE-approved warehouses have risen by 12,709 tonnes, or 76.6%, since January 4 to 29,308 tonnes. This followed an increase of just 773 tonnes one w...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday January 11, with nickel's three-month price leading gains amid a broadly positive market sentiment.Continuing its recent uptrend, nickel's three-month futures price is up more than 2% over the morning, reaching an intraday high of $11,490 per tonne while strong demand, particularly from the stainles...Read More
The only steelmaker in Kazakhstan, ArcelorMittal Temirtau, will resume operations at its normal rate late this month or in early February, the company said on Thursday January 10.Since November 10 last year, there have been production problems at the plant because of a gas pipeline explosion.At the moment, only one of the two continuous casting machines that feed flat-rolled steel production, each...Read More
Flat steel import prices remained unchanged in South America over the past week after the traditionally slow restart to the local markets after the new year holiday. Some lower offers, however, translated into deals and downward pressure on prices was reported.Fastmarkets assessed import prices for hot-rolled coil (HRC) in the region at $520-530 per tonne cfr on January 11, stable since December 2...Read More
Indian importers are likely to book commercial-grade hot-rolled coil (HRC) from South Korea because similar material from China is still not a viable option for imports.South Korean HRC was offered to Indian importers this week at $530-535 per tonne cfr for February shipment. This means that it will cost importers around 39,500-40,000 rupees ($561-568) per tonne exclusive of taxes.Fastmarkets' pri...Read More
Some steel coil prices in Turkey fell this on continued slow demand due to the continuing US import tariffs and the struggling Turkish lira, sources told Fastmarkets on Friday January 11. Demand has been poor in the country since August 2018, when relations between Turkey and the United States deteriorated and the Turkish Lira lost value against the US dollar after US president Donald Tr...Read More
Prices for coated-steel coil products in Turkey decreased in the week to Friday January 11 with demand remaining limited.Demand is unlikely to improve any time soon because buyers expect prices to fall further, sources told Fastmarkets.Levels of demand have been poor in the country since August 2018, when political relations between Turkey and the United States deteriorated after Turkey detained a...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: HRC, CRC, HDG, PPGI Hot-rolled coilTurkey, domestic, hot-rolled coil, offered at $495-510 per tonne ex-works, March production. Turkey, export, hot-rolled coil, offered at...Read More
Pig iron exporters from the south of Brazil reduced offers under pressure of low demand and falling scrap prices, sources told Fastmarkets on Friday January 11.Meanwhile, suppliers from the north of Brazil stayed of the market, because they are sold out till Mach. Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region dropped to $310-320 per tonne...Read More
The effect of a sharp uptick in nickel values on alloy steel scrap prices this week was muted by ongoing poor demand, sources told Fastmarkets on Friday January 11.Being a key component of stainless steel, nickel prices exert considerable influence over the price of alloy steel scrap, with price movements in the former usually being reflected in a the latter in the same week. On Friday, the t...Read More
The price of shredded ferrous scrap imported into India inched up this week following deals done at higher prices from last week but for smaller tonnages, market participants said on Friday January 11.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India inched up to $319.24 per tonne cfr Nhava Sheva on January 11, from $318.39 per tonne cfr Nhava Sheva on January 4....Read More
Turkish steel mills continued to book deep-sea ferrous scrap for February at the end of the week because of low stock levels, sources told Fastmarkets on Friday January 11.A steel mill in the Iskenderun region booked a US cargo, comprising 25,000 tonnes of HMS 1&2 (95:5) at $283 per tonne and 13,000 tonnes of shredded at $285 per tonne cfr.Market participants indicated that the HMS 1&2 (80:20) pri...Read More
The light iron steel scrap market in the United Kingdom has been stable in the week ended Friday January 11, extending a steady performance in prices to a fourth consecutive week.The market's focus is on the outcome of contact negotiations between British scrap suppliers and consumers in the steel industry, most of which are expected to be concluded early next week.While some sources suggest deals...Read More
Iron ore prices were largely rangebound on Friday January 11 with further pressure applied to the port market due to a stronger exchange rate for China's yuan against the US dollar.MB 62% Fe Iron Ore Index: $73.45 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Pilbara Blend Fines Index: $73.59 per tonne cfr Qingdao, up by $0.09 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $75.04 per ton...Read More
An overview of the minor metals markets and the reasons for any price moves.What will drive prices in 2019? Join...Read More
The following Fastmarkets minor metals prices changed on Friday January 11:Minor metalsBismuth MB China domestic, yuan/tonne: 49,500-51,000 yuan per tonne from 47,000-49,000 yuanCobalt MB free market alloy grade, $/lb: $22.00-24.50 per lb from $24.50-26.25Cobalt MB free market standard grade, $/lb: $23.50-25.25 per lb from $24.75-26.25Cobalt Sulfate, Co...Read More