Indian domestic secondary billet prices rose by 300 rupees ($4) per tonne week-over-week in the seven days ended Friday September 13, on the rising costs of finished long steel products and tight supply of semi-finished materials.The price of steel billet domestic, ex-works India, assessed by Fastmarkets on September 13, was up by 300 rupees per tonne to 27,400-27,600 rupees ($385-388) per tonne f...Read More
Stainless steel prices in Europe increased sharply this week because of both the higher alloy surcharges for September and an expectation that October surcharges will also increase strongly, Fastmarkets heard on Friday September 13.Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,390-2,450 ($2,636-2,703) per...Read More
The pellet segment of the seaborne iron ore market is starting to show signs of moving from annual contracts to shorter-term ones.The recent drop in iron ore prices amid improvements in Brazilian and Australian supply and a weak global steel market have led to buyers renegotiating the premium they had agreed with Brazil's Vale under annual contracts for pellet shipments to be made in the last thre...Read More
The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
Eastern China's Shagang has raised the list prices for its rebar and wire rod booked in mid-September.The mill is selling its HRB400 16-25mm rebar at 3,820 yuan ($537) per tonne over the September 11-20 period, up 100 yuan per tonne from its...Read More
Export prices of Brazilian slab dropped this week because of weakness in the flat steel market in the United States and competition from other suppliers.Fastmarkets' weekly price of steel slab export, fob main port Brazil, was $420-435 per tonne on Friday September 13, down by $10-15 from $430-450 per tonne fob a week earlier.Offers were reported within a range of $430-435 per tonne fob, while buy...Read More
Poor demand and ongoing bearish sentiment surrounding the European economy continued to keep premiums for aluminium foundry in the region tepid on Friday September 13.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, unchanged from August 9. On the same day, Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium, ddp...Read More
Global ferrous scrap prices continued to move down across all the major scrap markets during the week ended Friday September 13, with buyers postponing buying activity in the expectation of securing lower prices after prices fell in Turkey, turning worldwide sentiment negative. Fresh Turkey bookings continue downward price trend US prices fall on recent cargoes Taiwan, Vietnam prices down on weak...Read More
Steelmakers in Germany have settled their monthly scrap contracts for September at prices that were down by an average of ?,?25 ($28) per tonne from last month, sources told Fastmarkets on Friday September 13.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap) domestic, delivered mill Germany, was at ?,?225-235 per tonne on Friday, down by $20-25 per tonne from...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday September 13, with the price near the $6,000 per tonne resistance level and closing at its highest level since July 29, while tin's outright price fell over the afternoon.Copper futures closed at $5,974.50 per tonne in the afternoon, exceeding its 100-day moving-average at $5,925 per tonne and ap...Read More
London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid of ?29.6 billion ($36.5 billion) on September 11, stunnin...Read More
Trading activity in the seaborne coking coal market was muted on Friday September 13, with China observing a public holiday.Premium hard coking coal, fob DBCT: $148.15 per tonne, down $1.19 per tonne Premium hard coking coal, cfr Jingtang: $167.76 per tonne, unchangedHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $150.26 per tonne, unchangedLow-vol PCI, fob...Read More
Prices for austenitic grades of alloy steel scrap in the UK domestic market decreased this week, despite high nickel costs, because of low demand from stainless steel mills, sources told Fastmarkets on Friday September 13. Austenitic alloy steel scrap prices are usually closely tied to those of nickel. Indeed, since the beginning of July, austenitic steel scrap prices have tracked the strongly upw...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday September 13, with the price near the $6,000 per tonne resistance level and closing at its highest level since July 29, while tin's outright price fell over the afternoon.Copper futures closed at $5,974.50 per tonne in the afternoon, exceeding its 100-day moving-average at $5,925 per tonne and ap...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets MB has corrected its copper concentrates index, which was published incorrectly on Friday September 13 due to an error.Fastmarkets' copper concentrates TC/RC index, cif Asia Pacific was published incorrectly and has now been corrected to $50.3 per tonne / 5.03 cents per lb. The rationale has been updated to reflect the correct figures. Fastmarkets MB's price book and database have...Read More
Vale's nickel processing On??a Puma plant in the northern state of Par?? will resume operations after the Brazilian Supreme Court ruled in its favor, the miner said on Thursday September 12.On??a Puma's mining activities have been halted since September 2017 as a result of several judicial decisions. Its nickel processing plant was also suspended in June this year.In both cases, the president...Read More
London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid of ?29.6 billion ($36.5 billion) on September 11, stunnin...Read More
The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday September 13, declining by around 2.7% against a fresh inflow of some 12,000 tonnes, while copper futures continued to trade in an uptrend.Nickel futures were trading at around $17,500 per tonne on Friday morning, which is about 2.7% lower than Thursday's closing price of $17,990 per tonne, and dow...Read More
Cold-rolled and galvanized steel prices in the United States declined over the past week, with weakening end-market demand and September's ferrous scrap settlement working in tandem to erode spot market prices.Fastmarkets' weekly price assessments for steel cold-rolled coil, fob mill US, and for steel hot-dipped galvanized (base) steel coil, fob mill US, both decreased to $37 per hundred...Read More