The metals market remains cautious because there still seems a long way to go before a United States-China trade deal can be reached. Asian equities are firmer across the board because at least some progress was made on trade talks. Haven assets are weaker with US ten-year treasury yields strong and gold prices weaker. Base metals Three-month base metals prices on the London Metal Exchan...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Copper closed only slightly higher on Friday on the London Metal Exchange despite price-supportive news of force majeure being declared at the Las Bambas copper mine in Peru.The three-month copper price ended at $5,796 per tonne, a mere 0.2% higher than Thursday's close, even after the declaration of force majeure by miners MMG and Citic Metals at Las Bambas, which will affect the supply of copper...Read More
All base metal stocks in Shanghai Futures Exchange-approved warehouses, except tin, rose in the week to Friday October 11, after trading activity resumed following the end of the week-long Golden Week holiday in China. Copper stocks registered the largest increase in percentage terms, rising by 13.9% or 16,401 tonnes from September 30, to 134,509 tonnes as of Friday. The largest inflow in cop...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 11. Europe The high carbon ferro-chrome market nudged upwards after several producers lowered their exposure to the spot market. But demand remains weak - production and prices in the Europe stainless...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Ferrous scrap prices strengthened in the latest US sales to Turkey during the week to Friday October 11, but market participants were unsure about a recovery as demand for finished steel was still limited in most markets. Increasing political tensions in Turkey keep mills away from scrap markets US export prices improve in the East Coast market with sales to Turkey Ferrous scrap prices...Read More
Austenitic steel scrap prices in Europe and UK may have found the market floor after a month of substantial decreases, while chrome steel scrap prices have fallen sharply on weak demand and low ferrous costs, Fastmarkets heard on Friday October 11."I think [austenitic] prices have found a new level after the significant drops we have had in the past month," one scrap trader said. "Material has sta...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 11, extending stability after losses in September against a small recovery in European export prices to traditional markets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($74-98) per tonne on Friday.European steel scrap p...Read More
There is some cautious optimism over United States-China trade negotiations after US President Donald Trump described the talks as "very, very good" and said he would meet Chinese Vice Premier Liu He in the White House on Friday October 11.But, we have been here before so it is probably best not to anticipate too much - indeed, with the base metals generally rangebound this morning that seems to b...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
China's domestic spot battery-grade lithium carbonate prices held steady this week after the Golden Week national holiday on October 1-7, and lithium hydroxide prices were also flat due to a lack of domestic buying. Lithium carbonate price held at current level without any fluctuation post-holiday. Lithium hydroxide prices maintained at current level on quiet buying. China, Japan & Sou...Read More
Most of the import prices for flat-rolled steel products were stable during the week ended Friday October 11 in South America, because Chinese mills did not significantly change offers made before their Golden Week holiday, which ended on October 7.But more aggressive trader offers and customer bids, especially from the continent's Pacific coast, continued to put downward pressure on the price of...Read More
Indian steel mills are aggressively cutting their prices to increase export sales of hot-rolled coil with domestic demand for the commodity remaining weak, Fastmarkets heard on Friday October 11.HRC export prices from India have fallen by $5 per tonne in the current week while market participants were expecting further falls because traders were short-selling HRC aggressively in the Southeast Asia...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and pre-painted galvanized iron (PPGI) fell in the week to Friday October 11, with demand remaining weak, sources have told Fastmarkets.The price for hot-rolled coil, the base product for coated coil, has continued to fall as well this week, and coated coil prices have followed the downtrend.Domestic pricesDemand in the country's local market was...Read More
The Egyptian Ministry of Trade and Industry announced permanent duties on steel billet, rebar and wire rod on October 10, effective from October 12, Egyptian sources told Fastmarkets.The permanent safeguard duty is 16% of the cif price and a minimum of $74 per tonne for steel billet from October 12, 2019 until April 11, 2020. The duty will fall to 13% and $60-per-tonne minimum payment on April 12,...Read More
China's steel mills posted a fall in profits in the first eight months of the year on weakening steel prices and costly raw materials. Profit in the country's steelmaking industry totaled 179.94 billion yuan ($25.17 billion) in January-August 2019, down by 32.3% year on year and deepening the drop in the month prior of 26.4% on an annual basis, according to the National Bureau of Statistics. Most...Read More
China's domestic rebar prices dropped on Friday October 11 due to pessimistic sentiment among buyers and inactivity in the market. Domestic Eastern China (Shanghai): 3,700-3,730 yuan ($521-525) per tonne, down 20 yuan per tonne Northern China (Beijing): 3,570-3,600 yuan per tonne, down 20-30 yuan per tonne Weak futures have led customers to cut their procurement rates in anticipation of lower...Read More