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
The deep-sea scrap market was quiet on Friday August 30 because of a public holiday in Turkey, sources told Fastmarkets. The Victory Day holiday means that all Turkey-based market participants have been absent from the market and traders...Read More
Prices for ferrous scrap imported into India were expected to fall due to the decline of prices in the international market, sources told Fastmarkets on Friday August 30.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $291.20 per tonne on Friday, down from $292.71 per tonne on August 23.Offers of shredded scrap from Europe and the UK have...Read More
Physical iron ore prices rose on Friday August 30 on news that China was willing to proceed with negotiations to resolve its trade war with the United States.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $84.66 per tonne, up by $3.19 per tonne.62% Fe Pilbara Blend Fines, cfr Qingdao: $85.04 per tonne, up by $3.19 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.69 per tonne, up by $2....Read More
Large price falls in the Asian ferrous scrap market this week have kept buyers away, with most market sources saying they expect more price falls to come in the near term. There were bids from South Korea for bulk cargoes, but no transaction were heard to be concluded. Vietnamese buyers did not exhibit interest for US-origin bulk HMS cargoes due to an abundant supply of alternatives from Japan, Eu...Read More
Prices for seaborne premium hard coking coal moved up on Friday August 30, recovering most of the losses suffered earlier this week and underlining a gap between low-vol and mid-vol cargoes in the segment.Fastmarkets indicesPremium hard coking coal, fob DBCT: $154.01 per tonne, up $5.01 per tonnePremium hard coking coal, cfr Jingtang: $167.54 per tonne, unchanged Hard coking coal, fob DBCT: $134.0...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
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
An overview of the minor metals markets and their latest price moves.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
The following Fastmarkets minor metals prices changed on Friday August 30:Minor metalsBismuth 99.99% Bi min, in-whs China, yuan/tonne: 40,000-41,000 yuan per tonne from 40,000-41,500 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $6,800-7,200 from $6,900-7,200Cobalt alloy grade, in-whs Rotterdam, $/lb: $17.00-18.00 per lb from $16.85-17.65Cobalt standard grade, in-whs Rotterdam,...Read More
An overview of the Chinese minor metals markets and their latest price moves.Read More
Southwestern China's Kunming Intermediate People's court will auction all of the 28,336 tonnes of ammonium paratunsgate (APT) held by the collapsed Fanya Metal Exchange in mid September, according to an official notice seen by Fastmarkets on Friday August 30.The volume of APT ingots is equivalent to about three months of Chinese output and will be put up for auction from 10am Beijing time on Septe...Read More
A nickel plant at the Ramu nickel-cobalt project in northeast Papua New Guinea, is still in full operation following the discovery of waste spilling into the nearby Basamuk Bay, according to media reports. Authorities are carrying out investigations into the spillage that was discovered over the weekend and Ramu could face compensation claims and possibly closure after investigation, Reuters repor...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
The three-month price of nickel traded on the London Metal Exchange continued to outshine the rest of the base metals complex on Thursday August 29, up by 2.3% at the close to $16,445 per tonne, compared with yesterday's close at $16,085 per tonne.The LME cash/three-month nickel spread continued to trade in its widest backwardation for 12 years, at $99 per tonne at the close of trading, a marginal...Read More
The three-month copper price on the London Metal Exchange increased slightly during morning trading on Thursday August 29, bolstered by a fresh cancellation of 24,425 tonnes, while the nickel-tin price differential continues to widen. The fresh cancellations in copper now total just over 59,000 tonnes, the bulk of which have occurred out of LME-registered warehouses in Asia. Yet the red metal...Read More