Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday July 2, and were looking quite divergent. Base metalsLME three-month copper ($9,314 per tonne) and aluminium ($2,516 per tonne) were up by 0.5% and 0.3% respectively, while the rest were down by an average of 0.3%, led by a 0.7% fall in nickel ($17,970 per tonne). In recent days,...Read More
Hot-dipped galvanized and pre-painted galvanized coil prices decreased in Turkey during the week to Friday July 2, with demand weakening ahead of national holidays, sources told Fastmarkets.Market participants expect reduced market activity in the second half of July because of the national holidays taking place on July 15, which is Democracy Day in Turkey, and July 19-24 for the Ei al-Adha holida...Read More
Turkish deep-sea scrap import prices fell at the end of the week after a fresh cargo from the Baltic Sea came to light, market participants told Fastmarkets on Friday July 2.A steel mill in the Izmir region booked the Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $495 per tonne and 5,000 tonnes of bonus at $510 per tonne cfr, late on Thursday July 1.This was fourth the deep-sea...Read More
With automakers switching to producing vehicles with batteries reliant on metals such as cobalt and lithium, the expectation for lead has been that prices will follow the downward fortunes of the internal combustion engine.But recently that has not been the case; lead's cash price on the London Metal Exchange reached a three-year high of $2,368 per tonne on Wednesday June 30, crowning nine straigh...Read More
The United States' pig iron import market was muted during the week to Friday July 2 because buyers preferred to wait to see the effects on the market of the announcement of an export duty by Russia.Russia is the largest global pig iron supplier. It intends to impose a temporary export duty on pig iron at the level of 15% but no less than $115 per tonne, to be effective from August 1 until Decembe...Read More
Key data from Fastmarkets' pricing sessions in China, the United States and Europe on Friday July 2.China The China ferro-silicon price edged up due to the tighter availability following the news that producers in Shanxi and Ningxia might face another round of production cuts so the provinces can meet their dual energy consumption targets, with supplier offers broadly unchanged.In addition, the ne...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
Aluminium and copper prices on the London Metal Exchange remained firm during morning trading on Friday July 2 amid low-volume trading. The three-month aluminium price was most recently at $2,527 per tonne, up by $15 per tonne from $2,512 per tonne at the close of trading on Thursday. The contract has trading in a tight range of $2,506-2,527 per tonne on Friday morning. LME aluminium stock levels...Read More
Small differentials for low-carbon aluminium in Europe were achievable for both primary aluminium and value-added products in June, market participants told Fastmarkets. But high underlying premiums for aluminium continued to cap any significant movement in low-carbon differentials. Fastmarkets assessed its aluminium low-carbon differential P1020A, Europe at $0-5 on Friday July 2, up from zer...Read More
The pig iron export market in Brazil remained calm in the week to Friday July 2, waiting to see how the global market will react to Russia's plan to impose export duties on a range of metal products.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $620-625 per tonne on Friday, widening upward from $620 per tonne a week before.Offers from the south...Read More
Prices for shredded steel scrap imported into India and Pakistan rose in the week to Friday July 2, with trading activity focusing on the Pakistan market over India. In the Pakistan imported scrap market, sellers achieved higher shredded prices this week following solid rebar sales. Fastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $539.51 per...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
Spot activity in the Vietnamese ferrous scrap import market remained extremely thin amid poor demand from steel mills, sources told Fastmarkets.There was a transaction confirmed for an August-shipment cargo at $484 per tonne cfr southern Vietnam, against offers at $490-500 per tonne cfr Vietnam.Bids were at $480 per tonne cfr Vietnam."It is very, very quiet this week because of the large bid-...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
Turkish deep-sea scrap import prices fell at the end of the week after a fresh cargo from the Baltic Sea came to light, market participants told Fastmarkets on Friday July 2.A steel mill in the Izmir region booked the Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $495 per tonne and 5,000 tonnes of bonus at $510 per tonne cfr, late on Thursday July 1.This was fourth the deep-sea...Read More
Hot-rolled and cold-rolled coil prices decreased in Turkey during the week ending Friday July 2 before the long holiday starts in the country on July 15, sources told Fastmarkets.July 15 is Democracy Day in Turkey and July 19-24 will be the Ei al-Adha holiday, so market participants expect reduced activity in the second half of July.Low priced sales from Russia to several destinations during the w...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and...Read More
Domestic steel rebar prices in Poland were broadly flat in the week to Friday July 2, with local mills being largely sold out for July rolling and mulling new rises for August, sources have told Fastmarkets.Major domestic rebar producers in Poland were reported to have no July volumes remaining.Demand in the local market continued to be strong, despite rebar prices being at historic highs, driven...Read More
Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Base metals prices on the London Metal Exchange were broadly up at the close of trading on Friday July 2 following better-than-expected data released by the US Bureau of Labor Statistics.Total nonfarm payroll empl...Read More