The range for aluminium pressure diecasting ingot DIN226/A380 fell on Friday September 13 with lower European scrap prices forcing ingot producers to sell more cheaply in the face of weak automotive sector demand.Fastmarkets assessed the price for aluminium pressure diecasting ingot DIN226/A380 at ?,?1,340-1,390 ($1,478-1,533) per tonne, down from ?,?1,350-1,400 per tonne the previous week, a leve...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Thursday September 12, while considerable tightness in the metal's forward spreads prompted market questions of prospective deliveries into LME warehouses to ease trading conditions.Despite moderately low volumes at just over 6,000 lots exchanged by the close, nickel's benchmark cash/three-month spread s...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
All base metal stocks at Shanghai Futures Exchange-approved warehouses, barring tin, fell in the week to Thursday September 12 as a result of a pick-up in activity at the start of the traditionally busy season of September and October for the non-ferrous metals sector. Copper registered the largest drop in percentage terms, tumbling by 6.1% or 9,871 tonnes to 152,188 tonnes as of Thursday. The lar...Read More
Domestic stainless steel prices in China narrowed over the past week amid a mixed outlook for demand in the next few weeks.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,300-15,700 yuan ($2,150-2,206) per tonne including value-added tax for the week ended Wednesday September 11, narrowing on both...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 11.Key drivers The ferro-titanium market was stable for the second consecutive week, with prices in a holding pattern until consumer tenders for deliveries in the fourth quarter are settled. Quarterly delivery contracts for shipment between October and December were expected to be agreed by the end of September. No deals h...Read More
The Turkish steel mills continued their silence in the deep-sea scrap markets on expectations of lower prices, while suppliers were keeping their offers firm, sources said on Thursday September 12.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on September 9.But the mills were see...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 11.Key drivers The ferro-titanium market was stable for the second consecutive week, with prices in a holding pattern until consumer tenders for deliveries in the fourth quarter are settled. Quarterly delivery contracts for shipment between October and December were expected to be agreed by the end of September. No deals h...Read More
The CME Group will launch two gold futures contracts on October 14 this year, pending regulatory approval, in a move that will see it begin to collaborate with the world's largest physical gold exchange, the Shanghai Gold Exchange (SGE).The two new financially settled contracts will be denominated in US dollars and the offshore Chinese yuan accordingly, with contract sizes currently set at 1kg, Un...Read More
Sentiment in the European market for hot-rolled coil (HRC) has been gloomy in the week ended Thursday September 12 due to low demand, sources told Fastmarkets.While domestic prices have been relatively stable over the past week, buyers have been targeting lower prices and they expected the mills to slightly decrease their prices in the next month."Demand is bad, and I am talking about demand from...Read More
China's domestic hot-rolled coil prices widened on Thursday September 12, having fallen earlier in the day due to lower offers before rising in the latter half on rising futures.DomesticEastern China (Shanghai): 3,680-3,710 yuan ($517-521) per tonne, widened by 10 yuan per tonne on both endsNorthern China (Tangshan): 3,600-3,630 yuan per tonne, widening upward by 10 yuan per tonneIn Shanghai, few...Read More
Domestic rebar prices in Turkey fell over the past week due to falling scrap import values and limited demand, sources told Fastmarkets on Thursday September 12.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, exw Turkey, was TRY2,825-2,920 ($490-507) per tonne ex-works, compared with the TRY2,910-2,940 per tonne of last week.Steel mills in the Istanbul region were...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 12, amid lower offer prices from the Commonwealth of Independent States (CIS) in particular. While the lower offers are the result of limited market activity across all major sales outlets, in Egypt continuing uncertainty over the country's import safeguard duty has stifled market activi...Read More
Turkish rebar and wire rod export prices fell in the week to Thursday September 12, in line with the downturn in imported scrap values, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) export, fob main port Turkey, was $410-415 per tonne on Thursday, down from last week's $430-435 per tonne, on an actual-weight basis.Earlier in the week, Tur...Read More
The Turkish steel mills continued their silence in the deep-sea scrap markets on expectations of lower prices, while suppliers were keeping their offers firm, sources said on Thursday September 12.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on September 9.But the mills were see...Read More
Seaborne iron ore prices surged on Thursday September 12 amid support from Chinese steelmakers stocking up ahead of the week-long National Day holiday at the start of October.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $99.30 per tonne, up $4.64 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $99.69 per tonne, up $4.64 per tonne.62% Fe low-alumina fines, cfr Qingdao: $...Read More
Billet prices in Turkey have fallen sharply, following the decrease in imported scrap values, sources said on Thursday September 12.Fastmarkets' weekly price assessment for steel billet import, cfr main port Turkey was $370-375 per tonne on Thursday, down from last week's $385-395 per tonne.Suppliers in the Commonwealth of Independent States (CIS) region have lowered their offers...Read More
Import prices for steel billet in Egypt fell in the week ended Thursday September 12, amid lower offer prices from the Commonwealth of Independent States (CIS) in particular. While the lower offers are the result of limited market activity across all major sales outlets, in Egypt continuing uncertainty over the country's import safeguard duty has stifled market activi...Read More
China's rebar prices were unchanged in both domestic and export market on Thursday September 12 amid thin trading. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($513-517) per tonne, unchanged Northern China (Beijing): 3,620-3,650 yuan per tonne, unchangedBuyers from the construction sector had stocked up on materials in the past three days, ahead of a public holiday on Friday to mark the Mi...Read More
Domestic stainless steel prices in China narrowed over the past week amid a mixed outlook for demand in the next few weeks.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,300-15,700 yuan ($2,150-2,206) per tonne including value-added tax for the week ended Wednesday September 11, narrowing on both...Read More