Markets are once again consolidating in the morning of Friday August 30, waiting to see how the United States responds to China's comments that it wants to make a trade deal.While any deal would likely turn sentiment bullish quickly, it does look as though the market is skeptical that anything will come of this. We should be braced for an active day because the next wave of US tariff increases on...Read More
Fastmarkets is proposing to make changes to the specifications of two cobalt hydroxide assessments it initially launched in February 2019.The two assessments are the cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low end), and the cobalt hydroxide index 30% Co min, cif China, $/Ib. Following an initial consultation among market par...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 temporarily held in the week to August 29 with buyers cautious of further decreases, while the lithium hydroxide market kept flat and no matter how low the offers, deals were rarely concluded due to continuing poor downstream demand.Battery-grade lithium carbonate price rangebound at current level. Technical and industrial-grade carbonat...Read More
China's hot-rolled coil exporters maintained their high offers on Friday August 30 even though overseas buyers put in lower bids amid a stable domestic market in the country.DomesticEastern China (Shanghai): 3,620-3,630 yuan ($506-507) per tonne, up 10 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, unchangedSpot prices were largely stable during the day amid rising futures, t...Read More
Steel beam prices in the United States have fallen in tandem with recent mill cuts, while fresh offers have lowered import prices. Fastmarkets' monthly price assessment for steel beams 8 x 8-inch, fob mill US, declined to $35.25 per hundredweight ($705 per short ton) on Thursday August 29, down 7.8% from July's assessment of $38.25 per cwt and down nearly 19% from $43.50 per cwt one year ago. ...Read More
Domestic rebar prices in Poland remained unchanged this week with market activity just beginning to recover after the seasonal summer slowdown, sources told Fastmarkets on Friday August 30.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, remained at 2,150-2,200 zloty ($542-555) per tonne on August 30.The assessment reflected the...Read More
Indian domestic prices for secondary steel billet increased by 600 rupees ($8) per tonne over the week ended Friday August 30, even though the prices of semi-finished steel products slipped slightly toward the weekend.The price of steel billet, domestic, exw India, assessed by Fastmarkets on August 30, rose to 26,700-26,900 rupees ($372-375) per tonne compared with last week's assessment at 26,100...Read More
Ferrous scrap prices around the world fell over the week ended Friday August 30 on thin buying interest from end-users, which expected more price falls so were not eager to purchase materials. Ample supply damps prices More falls in export prices expected Prices plunge on thin buying interest Limited transactions on weak downstream demand.TurkeyImport prices in Turkey fell sharply week on week, wi...Read More
The inter-merchant spot market for UK light iron scrap, which hit a ten-week run of stability this week, is set to drop in the near term amid weakening demand for feed from steel producers in Europe, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was flat week-on-week at ?80-100 ($98-122) per tonne on Friday Augu...Read More
Alloy steel scrap prices in the UK domestic market widened upwards this week on a nickel price surge on Friday August 30, sources told Fastmarkets.Prices had been largely flat throughout the week in reflection of a stable nickel market. On Friday morning, however, nickel prices started to increase quickly and continued through the day. By Friday's close, the three-month nickel price on the Lo...Read More
Indian domestic prices for secondary steel billet increased by 600 rupees ($8) per tonne over the week ended Friday August 30, even though the prices of semi-finished steel products slipped slightly toward the weekend.The price of steel billet, domestic, exw India, assessed by Fastmarkets on August 30, rose to 26,700-26,900 rupees ($372-375) per tonne compared with last week's assessment at 26,100...Read More
Prices in Southeast Asia's steel billet market fell on Friday August 30 after suppliers of Indian and Russian material lowered their asking prices to entice customers in the region, market sources said. Steel billet produced in India were available at $425-430 per tonne cfr Manila and $420-425 per tonne cfr to Indonesia. One shipment involving 10,000 tonnes of billet originating in India was repor...Read More
China's domestic rebar prices picked up some strength on Friday August 30 amid heightened trading activity in response to gains in the futures market.Domestic Eastern China (Shanghai): 3,540-3,590 yuan ($495-502) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, up 10 yuan per tonneTraders raised their prices slightly after rebar futures rose during the day. The...Read More
The monthly European alloy steel surcharges for September have surged upward from the August levels on higher nickel prices, Fastmarkets heard on Friday August 30.Fastmarkets' stainless steel cold-rolled sheet, 2mm, grade 304 alloy surcharge, domestic, Europe, rose to ?,?1,519-1,557 ($1,681-1,724) per tonne, according to data released by Outokumpu, Acerinox and Aperam. This was an increase of ?,?1...Read More
Grade-304 stainless steel flat product prices in Europe widened upwards this week, while mills confirmed that alloy surcharges for September would increase substantially, sources told Fastmarkets on Friday August 30. Fastmarkets' price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was ?,?2,300-2,350 ($2,546-2,601) per tonne on...Read More
Fastmarkets MB has corrected its monthly values for European grade-304 stainless steel alloy surcharges, which were published incorrectly on Friday August 30. The Fastmarkets stainless steel cold-rolled sheet 2mm grade 304 alloy surcharge domestic, Europe price assessment was originally published at ?,?1,889-1,934 per tonne. This has now been corrected to ?,?1,519-1,557 per tonne. The Fastmarkets...Read More
European aluminium billet premiums on Friday August 30 traded at their lowest since late 2016 and early 2017, pressured by a sustained oversupply in the region. Oversupply, aggressive offers sink premiums in Europe. Brazilian billet premium falls on weak demand.US, Asian billet premiums steady. European premiums hit by sustained oversupplyEuropean billet premiums hit their lowest since 2016 follo...Read More
Ferrous scrap prices around the world fell over the week ended Friday August 30 on thin buying interest from end-users, which expected more price falls so were not eager to purchase materials. Ample supply damps prices More falls in export prices expected Prices plunge on thin buying interest Limited transactions on weak downstream demand.TurkeyImport prices in Turkey fell sharply week on week, wi...Read More
Key data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 30.Europe The high-carbon ferro-chrome market ticked down in response to business being reported at the lower end of the range and below.Some producers were aggressive in their offer prices to generate liquidity.At the same time, some producers have raised their offer prices in an effo...Read More