Aluminium prices on the London Metal Exchange remain at historically low levels despite low stock levels, high premiums and sustained elevated raw materials costs. The LME aluminium three-month price has failed to trade over $2,000 per tonne since 2018 and closed at just $1,775 per tonne on Wednesday September 4. Yesterday's close price was 9% lower than the 2019 high of $1,951 per tonne from Marc...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Thursday September 5, breaching the $5,800 per tonne resistance level and closing at its highest level since August 1.This came amid a 12-week high in daily volumes traded, with nickel futures being the only metal to close lower over the afternoon.Three-month copper futures rose by by more than $120 per...Read More
The three-month tin price on the London Metal Exchange has rebounded by more than 14% during morning trading on Thursday September 5, prompted by the announcement of planned refined tin smelter production cuts by a group of 14 smelters in China. Tin's outright price reached an intraday high of $17,740 per tonne this morning, its highest level since July 26 and up by more than 12% from the end of A...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday September 5 that are worth another look.Aluminium prices on the London Metal Exchange remain at historically low levels despite low stock levels, high premiums and sustained elevated raw materials costs.While US interest in flat steel imports picked up somewhat in August, spurred by expectations of price increases for domestic...Read More
Aluminium prices on the London Metal Exchange remain at historically low levels despite low stock levels, high premiums and sustained elevated raw materials costs. The LME aluminium three-month price has failed to trade over $2,000 per tonne since 2018 and closed at just $1,775 per tonne on Wednesday September 4. Yesterday's close price was 9% lower than the 2019 high of $1,951 per tonne from Marc...Read More
China's leading stainless steel mills - Taiyuan Iron & Steel (Tisco), Tsingshan Group and Baosteel - have taken diverse approaches to their September tender prices for high-carbon ferro-chrome, Fastmarkets heard on Thursday September 5.Tisco has raised its tender price by 50 yuan ($7) per tonne month-on-month to 6,100 yuan ($852) per tonne, while Tsingshan and Baosteel have rolled over their price...Read More
Prices for cobalt metal, salts and intermediates rebounded in August, sparked by lower prices that encouraged restocking and momentum stemming from anticipated tightness after Glencore announced it will close its Mutanda copper-cobalt mine in the Democratic Republic of the Congo (DRC) by the end of this year.Price movesBenchmark cobalt prices rebounded firmly in August amid expectat...Read More
Turkish steel producers have continued to secure scrap cargoes for September deliveries this week with prices continuing to move down, sources said on Thursday September 5.A steel mill in the Iskenderun region booked a Baltic-sea cargo comprising 25,000 tonnes of HMS 1&2 (80:20) at $247 per tonne and 5,000 tonnes of bonus at $257 per tonne for September shipment.Following the $12.30 per tonne pric...Read More
The markets have been under steady pressure for so long that the combination of good news about Hong Kong, with the withdrawal of the extradition bill, and reports that high level US-China trade talks will resume in October, have been enough to lead a relief rally. This saw the three-month base metals prices on the London Metal Exchange rise by an average of 2.4% on Wednesday September 4.The rally...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw China, yuan/tonne. Fastmarkets lith...Read More
Prices for cobalt metal, salts and intermediates rebounded in August, sparked by lower prices that encouraged restocking and momentum stemming from anticipated tightness after Glencore announced it will close its Mutanda copper-cobalt mine in the Democratic Republic of the Congo (DRC) by the end of this year.Price movesBenchmark cobalt prices rebounded firmly in August amid expectat...Read More
Demand for flat steel products in Turkey was weak in August because of the seasonal summer slowdown as well as falling prices, market participants have told Fastmarkets.And local producers have now filled their order books until late October, they said on Thursday September 5.Turkish steel prices increased on May 17 after the import duty into the United States, which was applied at a rate of 50% i...Read More
China's domestic hot-rolled coil prices continued to rise on Thursday September 5 on declining inventory levels, which encouraged mills to raise their export offers.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($516-517) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, narrowing upward 10 yuan per tonneA domestic steel consultancy said that spot markets arou...Read More
The import price for steel billet in Egypt fell in the week ended Thursday September 5, with market activity limited by buyers who were waiting until a court decides on the imposition of an import safeguard duty on the expectation that prices will subsequently fall. Egypt's Administrative Court suspended temporary safeguarding duties on billet and rebar in July, prompting a flurry of legal activit...Read More
Trading activity in China's domestic rebar market picked up on Thursday September 5 due to an open arbitrage window between physical and futures prices. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($510-514) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, up 30-40 yuan per tonneA gap of about 200 yuan per tonne between spot prices in eastern China and t...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The export market for pig iron from the Commonwealth of Independent States (CIS) has gone down because of lower demand, more supply and a weak scrap market, sources told Fastmarkets on Thursday September 5.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $315-325 per tonne on Thursday, dropping from $330-335 per tonne a week before."[The p...Read More
Turkish steel producers have continued to secure scrap cargoes for September deliveries this week with prices continuing to move down, sources said on Thursday September 5.A steel mill in the Iskenderun region booked a Baltic-sea cargo comprising 25,000 tonnes of HMS 1&2 (80:20) at $247 per tonne and 5,000 tonnes of bonus at $257 per tonne for September shipment.Following the $12.30 per tonne pric...Read More
Seaborne iron ore prices stayed rangebound around $90 per tonne cfr on Thursday September 5 after holding above that mark earlier in the week, while increased trading activity was heard for Brazilian Blend fines (BRBF).Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $90.18 per tonne, down by $1.14 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $90.57 per tonne, down by $1.14 per tonne.6...Read More
The import price for steel billet in Egypt fell in the week ended Thursday September 5, with market activity limited by buyers who were waiting until a court decides on the imposition of an import safeguard duty on the expectation that prices will subsequently fall. Egypt's Administrative Court suspended temporary safeguarding duties on billet and rebar in July, prompting a flurry of legal activit...Read More