Global scrap prices in most major markets moved upward during the week ended Friday December 6, due to good demand and a shortage of material in some locations. Prices jump in Turkey on newest tradesUS market activity picks up at higher pricesIndian price move up on material shortagePrices continue to move up in VietnamTaiwan maintains strong demand and solid pricesTurkeyTurkish steel mills booked...Read More
Brazil's domestic rebar price was unchanged in December while market participants braced for an upcoming hike in January amid higher demand.Fastmarkets assessed the price for steel reinforcing bar (rebar) domestic monthly, delivered Brazil at 2,220-2,320 Reais ($528-552) per tonne on Friday December 6, unchanged from the previous month but up by 1.7% from 2,165-2,300 Reais per...Read More
Domestic prices for hot-rolled coil in Northern Europe edged up on Friday December 6, but transaction prices are expected to soon rise more significantly, sources told Fastmarkets. Fastmarkets' steel hot-rolled coil index domestic, exw Northern Europe, was ?,?432.6 ($478.11) per tonne on December 6, edging up from ?,?431.63 per tonne on Thursday.The calculation is based on "workable" pri...Read More
The spread between the 65% and 62% Fe iron ore markets widened last month amid improved profits among Chinese steelmakers and supply issues for Iron Ore Carajas fines.The gap between Fastmarkets' 65% and 62% Fe iron ore indices has held above $10 per tonne since November 8, reclaiming the mark after largely hovering below that since late June. The gap had earlier been above $10 per tonne beginning...Read More
Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.Copper also closed positively, ending just below $6,000 per tonne. The three-month tin price finished at $17,075 per tonne, up by 1.7% on Thursday's close. Turnover was high at around 475 lots by the close, the most since November 21.The metal ignored LME tin stock...Read More
Stability remained the theme of the seaborne coking coal market at the end of the week, with little interest in buying activity outside of China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.21 per tonne, down $0.58 per tonnePremium hard coking coal, cfr Jingtang: $147.22 per tonne, unchangedHard coking coal, fob DBCT: $121.33 per tonne, up $0.50 per tonne ...Read More
The three-month nickel price on the London Metal Exchange continued the previous day's momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday's close but remains broadly rangebound. The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday's closing pr...Read More
The price of grade-304 stainless steel flat products in Europe fell significantly over the past week on substantially lower monthly alloy surcharges for December, sources told Fastmarkets on Friday December 6.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,363-2,385) per tonne on Friday...Read More
The price of austenitic alloy steel scrap fell this week after further losses in the nickel market, sources told Fastmarkets on Friday December 6. Fastmarkets' price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, ?720-780 ($946-1,025) per tonne on Friday, down ?,?20-30 per tonne week on...Read More
The spot premium for copper rod in the United States has risen for the first time since January, driven by a higher copper cathode premium for 2020 annual contracts.Fastmarkets assessed the copper rod premium, ddp Midwest US, at 16-18 cents per lb on Thursday December 5, up by 1 cent from 15-17 cents per lb previously and the first increase since January 3.The gain is due to the increase...Read More
Mining company AfriTin Mining has raised ?3.8 million ($5 million) through the establishment of an unsecured convertible loan note agreement with Switzerland-based trading house AfriMet Resources, the company said on November 26.The agreement was made for a total amount of ?3.8 million, in which the notes are allocated at a value of ?100,000 each under 18-month terms, and will hold an interest...Read More
Tin ended higher on the London Metal Exchange on Friday December 6, closing above $17,000 per tonne for the first time since September.Copper also closed positively, ending just below $6,000 per tonne. The three-month tin price finished at $17,075 per tonne, up by 1.7% on Thursday's close. Turnover was high at around 475 lots by the close, the most since November 21.The metal ignored LME tin stock...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Metals conglomerate GFG Alliance has reached an agreement to acquire Aleris' aluminium rolling mill Duffel in Belgium, a GFG representative said on Friday December 6.The agreement for the sale of the mill is one of the conditions for the $2.6 billion merger of downstream aluminium product producers Novelis and Aleris, as laid out by the European Commission (EC) in October as part of its conditiona...Read More
Responsible sourcing initiatives are now a growing component of the metals and mining industry, with the London Metal Exchange recently issuing its requirements for compliance.Technology start-up company Minexx has broadened that effort, implementing blockchain technology to its pilot site in Rwanda in an effort to bring transparency and trust to the mining industry. Problems surrounding occupatio...Read More
Zinc stocks at Shanghai Futures Exchange-approved warehouses recorded the largest drop in percentage terms in the week ended Friday December 6. The galvanizing metal's inventory fell to 37,118 tonnes as of Friday, down 18.9% - or 8,654 tonnes - week on week. Nanchu's warehouse in Guangdong province, southern China, shed the most inventory among all SHFE-approved warehouses. It fell by 3,217...Read More
The three-month nickel price on the London Metal Exchange continued the previous day's momentum during morning trading on Friday December 6, bolstered by a fresh cancellation of 3,642 tonnes, while the zinc price rose slightly from Thursday's close but remains broadly rangebound. The LME three-month nickel price was recently at $13,425 per tonne, climbing more than 1% against Thursday's closing pr...Read More
Despite day-on-day stability in the US hot-rolled coil market, sources expect the steady uptrend in spot prices to continue due to the just-concluded ferrous scrap settlement. Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.08 per hundredweight ($561.60 per short ton) on Friday December 6, flat from the previous day.Inputs were received at $26-30 per cwt. Market c...Read More
Hot-dipped galvanized steel prices stepped higher in the United States while cold-rolled coil was steady this past week, but sentiment on demand remained mixed ahead of the December holiday season.Fastmarkets' assessment for steel hot-dipped galvanized (base) coil, fob mill US was at $38 per hundredweight ($760 per short ton) on Thursday December 5, up by 1.3% from $37.50 per cwt previously."Most...Read More
Slab export prices from Brazil increased this past week, but most negotiations were paused due to the threat of tariffs by the United States against imports of Brazilian steel.Fastmarkets' weekly price assessment for steel slab exports, fob Brazil, was $370-395 per tonne fob on Friday December 6, up from $360-380 per tonne fob on November 29.The upper end of the range reflected recent offers...Read More