European stainless steel market participants were losing confidence that the market will recover early in the New Year, they told Fastmarkets on Friday November 9, with transaction prices falling further this week.Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,150-2,200 ($2,454-2,511) per tonne delivered on Friday, down by ?,?30-60 per tonne from ?,?2,180-...Read More
European stainless steel market participants were losing confidence that the market will recover early in the New Year, they told Fastmarkets on Friday November 9, with transaction prices falling further this week.Transaction prices for grade-304 cold-rolled (CR) stainless sheets were assessed at ?,?2,150-2,200 ($2,454-2,511) per tonne delivered on Friday, down by ?,?30-60 per tonne from ?,?2,180-...Read More
Austenitic steel scrap prices in the UK decreased this week on the back of persistently poor demand and a negative outlook for early 2019, with lower nickel prices also a factor.Demand has been poor since October, when a substantial fall in the stainless steel market resulted in more cautious scrap purchasing from stainless mills. Scrap prices have gradually eased off during this time, although mu...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Friday November 9, with broad price weakness coming amid a fresh surge in the dollar index while investors heed caution over hawkish US-Sino trade relations. "Base metals are working against the strong dollar and the tightening Fed policy," SP Angel commodities analyst Sergey Raevskiy told Fastmarkets. "All the f...Read More
The latest metal markets news and price moves to start the North American day on Friday November 9. Base metals on the London Metal Exchange were mostly lower during morning trading on Friday November 9, failing to match upward momentum across Asian sessions amid strong economic data on Chinese exports. The three-month lead price was the biggest loser, falling 2% from yesterday's close to $1,...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday November 9.Most base metals prices on the Shanghai Futures Exchange were up during Asian morning trading on Friday November 9, buoyed by the modest pick-up in risk-on sentiment following China's release of positive economic data for October. Check Fastmarket MB's live futures report her...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended November 9.Raw Materials Japanese H2 scrap continued to lead price falls in the Asia markets amid weak demand from end users and bearish sentiment among traders.It is unlikely that there will be any spot-market activity in 2019 for direct-reduction (DR) grade iron ore pellets, according to...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsDuring the Asian trading on Friday morning, most base metal prices on the Shanghai Futures Exchange were up, buoyed by the modest pick-up in risk-on sentiment following China's release of positive economic data for October. On London Metal Exchange trading on Friday morning...Read More
Base metals on the London Metal Exchange were mostly lower at the close of trading on Friday November 9, with broad price weakness coming amid a fresh surge in the dollar index while investors heed caution over hawkish US-Sino trade relations. "Base metals are working against the strong dollar and the tightening Fed policy," SP Angel commodities analyst Sergey Raevskiy told Fastmarkets. "All the f...Read More
The London Metal Exchange has addressed a series of proposals put forward to market participants in a consultation period that began in early August, introducing key rulebook and procedural amendments in conjunction with its Strategic Pathway initiatives first introduced in 2017.Structured around key initiatives set out in 2017 to drive market growth, market feedback from the consultation has prom...Read More
Base metals stock level movements at Shanghai Futures Exchange-approved warehouses were mixed in the week ended Friday November 9, with lead, nickel and tin stocks higher while zinc, aluminium and copper stocks fell. Deliverable lead stocks increased by 1,390 tonnes or 17.3% over the past week to total 9,434 tonnes on Friday. Warehousing company Zhongchu Lutong in Tianjin saw the biggest inf...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Rebar producers in Poland have slightly decreased domestic prices over the past week, sources told Fastmarkets on Friday November 9.The decline reflected the expected seasonal slowdown that was anticipated by distributors, market participants said.Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,320-2,350 zloty ($617-625) per tonne ex-works on November 9, down from...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) recorded sales volumes of 101,000 tonnes during the third quarter of 2018, up from 97,900 tonnes in the corresponding period a year before.Volume growth came from the company achieving a higher share of downstream products and exports in the sales mix, according to an earnings report published by parent group Votorantim.Consumpti...Read More
Metal Bulletin rounds up some of the key news and price moves across the global metal markets this week. Base metalsDuring the Asian trading on Friday morning, most base metal prices on the Shanghai Futures Exchange were up, buoyed by the modest pick-up in risk-on sentiment following China's release of positive economic data for October. On London Metal Exchange trading on Friday morning...Read More
Chinese mining company Bosai Group has acquired 51% of Shandong Qixing Group's alumina refinery for 1.2billion yuan ($1.73 million), although the market does not expect any immediate relief to Chinese domestic alumina supply tightness, Fastmarkets understands. The Qixing refinery has a capacity to produce 500,000 tonnes per year of alumina, but it has been idle for over a year due to financial iss...Read More
An overview of the battery raw materials markets and their price moves from the past week. Read More
The current conditions in the zinc concentrate market are the biggest challenge to operating Noranda Income Fund's (NIF) processing facility profitably, the company said. NIF, which owns the Canadian Electrolytic Zinc (CEZ) facility in the Canadian province of Quebec, said that the supply tightness in the zinc concentrate market was the result of several large mine closures in recent years and str...Read More
The London Metal Exchange has addressed a series of proposals put forward to market participants in a consultation period that began in early August, introducing key rulebook and procedural amendments in conjunction with its Strategic Pathway initiatives first introduced in 2017.Structured around key initiatives set out in 2017 to drive market growth, market feedback from the consultation has prom...Read More
The latest metal markets news and price moves to start the North American day on Friday November 9. Base metals on the London Metal Exchange were mostly lower during morning trading on Friday November 9, failing to match upward momentum across Asian sessions amid strong economic data on Chinese exports. The three-month lead price was the biggest loser, falling 2% from yesterday's close to $1,...Read More