Stocks of most base metals, except copper and tin, stored in Shanghai Futures Exchange-approved warehouses declined in the week to Friday December 20.Aluminium registered the biggest week-on-week decline in deliverable stocks, down by 24,547 tonnes or 11.2% to 193,820 tonnes.A total of 5,170 tonnes left the Zhongchu Wuxi warehouse...Read More
The benchmark alumina price will remain steady around $280 per tonne at the end of the week despite Hydro's announcement late on Thursday December 19 that it has reduced production at its Alunorte alumina refinery to 50-70% capacity, market sources told Fastmarkets. Hydro reduced production at its Alunorte refinery in Brazil on Thursday after a fallen transmission tower cut power to the produ...Read More
Base metals prices on the London Metal Exchange were capped by a stronger US dollar, which traded up 0.03% at 97.43 during the morning session on Friday December 20, having absorbed any residual optimism from China's liquidity boost on Thursday. "Selling pressure has remained somewhat subdued this month," Fastmarkets research analyst Andy Farida said. The LME three-month copper price dipped below...Read More
The spot main Japanese port (MJP) aluminium premium is likely to remain under pressure next year due to growing supply and weak demand amid a decline in global automobile sales, market participants told Fastmarkets.The premium, which is paid over the London Metal Exchange cash price, currently serves as the benchmark for most of the aluminium traded in Asia.Fastmarkets has been assessing the alumi...Read More
Indian domestic secondary billet prices rose by 1,400 rupees ($20) per tonne in the week ending December 20 on the rising cost of directly reduced iron (DRI), the main raw material used by Indian secondary billet makers.The price of steel billet domestic, ex-works India was assessed by Fastmarkets on December 20 increased by 1,400 rupees per tonne to 27,400-27,600 rupees per tonne compar...Read More
The Polish domestic rebar price picked up slightly over the week and producers are targeting further price rises, market sources told Fastmarkets on Friday December 20.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, ex-works Poland narrowed on the top end of the range to 2,000-2,030 zloty ($522-530) per tonne on Friday, compared with 1,980-2,030...Read More
Indian steelmakers are likely to increase domestic HRC prices by at least 2,000 rupees ($28) per tonne in January, following on from an increase in export prices, sources told Fastmarkets on Friday December 20.But the mills will not be attempting further prices increase in the remaining days of December.Fastmarkets' weekly price assessment for steel HRC, domestic ex-works India,&nbs...Read More
The CIS export billet market was rather quiet in the week ended Friday December 20, reflecting the approaching holiday period.Offers from CIS mills remained around $420 per tonne fob Black Sea, with some mills starting to offer February casting material.Buying activity has slowed compared with previous weeks because customers in major markets have already purchased the necessary volumes to meet th...Read More
Domestic prices for hot-rolled coil in Northern Europe have been largely stable day on day on Friday December 20, following a substantial increase over the week, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, ex-works Northern Europe was at ?,?439.39 ($488.79) per tonne on Friday December 20 compared with ?,?439.24 per tonne on Thursday.The calculation of the ind...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), were stable in the week to Friday December 20 amid moderate demand, sources told Fastmarkets.Domestic pricesDemand in Turkey's local market slowed this week ahead of the year-end because buyers had already placed their orders earlier in December, sources said.Most producers have filled...Read More
Global scrap prices trended upward in the week to Friday December 20 on higher offer prices and limited supplies.Turkish import prices steady on limited trades United States export prices up on recent Turkish sales Vietnam, Taiwan import prices rise on higher offers Indian import prices up on tight supplies Turkey Turkish imported ferrous scrap prices were largely stable this week,...Read More
The inter-merchant spot price for light iron scrap in the United Kingdom was steady in the week ended Friday December 20, consolidating gains of ?15 per tonne made over the month.A solid increase in European steel scrap export prices has been support to the British market.The UK market, both on an inter-merchants level and to steel mills, has been strengthening over the fourth quarter - exporters...Read More
The price of ferrous scrap imported into India increased this week as traders hold on to their material in the hope of achieving higher sales in January, sources told Fastmarkets on Friday December 20.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $296.05 per tonne on Friday, up from $290.75 per tonne a week earlier.Deals were heard for shredded at $290 and $300 per tonne f...Read More
Turkish steel producers have continued to stay out of deep-sea scrap markets at the end of the week to focus on finished steel sales, sources said on Friday December 20.The mills have booked several cargoes in the previous weeks for January and February shipments and went quiet earlier this week in response to rising offers, Fastmarkets was told.Turkish producers booked two deep-sea cargoes at the...Read More
Seaborne iron ore prices fell across the board on Friday December 20 amid fresh emergency pollution curbs imposed in the steelmaking hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $91.63 per tonne, down $2.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.72 per tonne, down $2.14 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.46 per tonne, down...Read More
Seaborne cargoes of premium hard coking coal were sold to China below prevailing prices on Friday December 20.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.78 per tonne, up $1.66 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, down $0.66 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $134.99 per tonne, unchangedLow...Read More
Export prices for Chinese hot-rolled coil prices rose further on Friday December 20 despite a stable domestic market amid increased buying in South Korea and Pakistan.DomesticEastern China (Shanghai): 3,870-3,880 yuan ($552-553) per tonne, unchangedNorthern China (Tangshan): 3,640 yuan per tonne, unchangedTrading remained moderate in the domestic market, amid relatively low inventory levels.Most m...Read More
Base metals prices on the Shanghai Futures Exchange were split into two camps during the morning trading session on Friday December 20, with nickel outperforming the rest of complex with a 1.2% gain.The most-traded March nickel contract rose to 112,110 yuan ($15,995) per tonne at the close of the morning trading session, up by 1,330 yuan per tonne from Thursday's close of 110,780 yuan per tonne.Th...Read More
An overview of the minor metals markets and their latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More