The broad availability of zinc warrants across Europe meant that physical premiums in the region were stable in the week to Tuesday February 18, while a similar abundance of Middle Eastern supply kept Indian lead premiums flat.Meanwhile, premiums in both the United States and China were steady over the week, with static demand limiting any changes in the latter, while the bulk of the US market was...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday February 19. Please click...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 19.Key drivers The price range for ferro-titanium has not changed over the week to February 19, steady for two weeks despite low-key trading. No deals were reported in either alloys or titanium scrap. The markets were probably static due to the expected settlement of tenders issued by consumers for feedstock on a longer ter...Read More
Chinese importers could be able to buy United States' copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.Copper and aluminium scrap are among 696 products listed by the ministry that can have tariffs exempted. Importers can apply for exemptions starting from March 2, 2020.As part of a tit-for-...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
Key data from the Wednesday February 19 pricing session in London.Key drivers The price for manganese flake in Europe fell for the first time this year after Chinese producers gradually returned to the global market.Several market participants booked material from China on a cif basis for late March/early April delivery at $1,800-1,950 per tonne. And with most market participa...Read More
Chinese importers could be able to buy United States' copper and aluminium scrap without the current 25% tariffs from July, China's Ministry of Finance Customs Department said in a notice on Tuesday February 18.Copper and aluminium scrap are among 696 products listed by the ministry that can have tariffs exempted. Importers can apply for exemptions starting from March 2, 2020.As part of a tit-for-...Read More
The Turkish steel mills have continued to book deep-sea scrap for March shipments at slightly higher prices, sources said on Wednesday February 19.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $279 per tonne, 15,000 tonnes of shredded at $284 per tonne and 6,000 tonnes of bonus at $289 per tonne cfr.The same mill booked a second Baltic...Read More
Japanese ferrous scrap export prices have risen over the past week amid tightening supplies and healthy demand from Vietnamese buyers, sources in Japan told Fastmarkets.Fastmarkets' inaugural price assessment for steel scrap H2 export, fob main port Japan was ?24,000-24,500 ($219-223) per tonne fob Tokyo Bay on February 19, up by around ?500-1,000 per tonne from prices heard last week. In t...Read More
After the broad-based dip on Tuesday February 18 that was partially triggered by Apple's sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.Base metals prices on the London Metal Exchange were up across the board this morning, while those on the Shanghai Futures Exchange were mixed. Spot gold prices are holding on to Tu...Read More
The cobalt sulfate price in China has continued higher because of spot tight availability while refineries that suspended operations during the Chinese New Year holiday (January 24-February 2) have gradually resumed operations. Fastmarkets' price assessment of cobalt sulfate 20.5% Co basis, exw China was 57,000-58,000 yuan ($8,145-8,288) per tonne on Wednesday February 19, up by 0.9% fro...Read More
Eurasian Resources Group (ERG) is considering the construction of a plant to produce lithium-ion battery precursor materials, the company said today. The plant would be supplied with cobalt hydroxide produced at ERG's Metalkol Roan Tailings & Reclamation (RTR) project in the Democratic Republic of Congo (DRC). The intention is to produce nickel-cobalt-manganese (NCM) precursor materials that are u...Read More
Domestic prices for heavy steel plate in Europe moved down over the past week due to limited trading activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe was ?,?490-500 ($530-541) per tonne on Wednesday February 19, down by ?,?10 per tonne from ?,?500-510 per tonne ex-works a week earlier.That assessment is based on deals and...Read More
Domestic prices for hot-rolled coil in Northern Europe have moved up day on day, supported by good order books at mills and a lack of competitive imports, sources told Fastmarkets on Wednesday February 19.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was calculated at ?,?481.25 ($520.53) per tonne on February 19, up by ?,?0.94 per tonne from ?,?480.31 per tonn...Read More
Exporters of Chinese hot-rolled coil lowered their offers further to stimulate sales amid high inventory levels despite a relatively stable domestic market on Wednesday February 19.DomesticEastern China (Shanghai): 3,480-3,490 yuan ($497-499) per tonne, narrowing upward by 10 yuan per tonneNorthern China (Tangshan): 3,230 yuan per tonne, unchangedA Shanghai-based trader said prices in the city nar...Read More
Here are five Fastmarkets stories you might have missed on Wednesday February 19 that are worth another look.Chinese wire rod producers are keeping export offers stable on expectations of improved demand in April, market sources told Fastmarkets, which kept prices flat in the past week amid sparse trading.Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama...Read More
Wire rod prices in the United States are stable after February's scrap decline halted the upward trajectory recorded over the past three months, but extended lead times and increased demand have sparked optimism among market participants. Fastmarkets' price assessment for steel wire rod (low carbon) industrial quality, fob mill US was at $31-32 per hundredweight ($620-640 per short ton) on Tuesday...Read More
The price of steel mesh-quality wire rod in the European domestic markets was unchanged this week with most market participants focusing on trading steel rebar instead, sources told Fastmarkets on Wednesday February 19.In addition, the influence on wire rod prices exerted by prices for ferrous scrap, the feedstock material, was unclear because lower monthly European scrap prices contrasted with ri...Read More
The Turkish steel mills have continued to book deep-sea scrap for March shipments at slightly higher prices, sources said on Wednesday February 19.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 9,000 tonnes of HMS 1&2 (80:20) at $279 per tonne, 15,000 tonnes of shredded at $284 per tonne and 6,000 tonnes of bonus at $289 per tonne cfr.The same mill booked a second Baltic...Read More