Key data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 16. Europe The high carbon ferro-chrome price dropped by 4.4% in the past week due to lower offer prices with one deal reported being done at $0.71 per lb for 350 tonnes. European industry sources generally put prices in the upper 0.70 cents per lb range, although there wer...Read More
The price range for grade-304 cold-rolled stainless sheets narrowed upward this week while participants increasingly expect monthly alloy surcharges for September to rise substantially, Fastmarkets heard on Friday August 16.Fastmarkets' assessment of the price for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe was ?,?2,230-2,250 ($2,482-2,504) per t...Read More
Market participants in Asia expect PT Indonesia Tsingshan Stainless Steel to be the most significantly affected should the European Union decide to impose anti-dumping duties on imports of stainless hot-rolled coil and sheet from the region.The EU earlier this week initiated an anti-dumping investigation into imports of such products from China, Indonesia and Taiwan.The EU probe could further limi...Read More
Turkey's military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey's largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel entered into compulsory liquidation in May 2019 and rece...Read More
The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced last week.Volumes exceeding the quota will be a subject to a...Read More
The three-month price of nickel on the London Metal Exchange remained elevated at the close of trading on Friday August 16, retaining gains made at Thursday's close above the $16,000 per tonne support level, while a weak LME tin price could see the two prices converge.Nickel's three-month price closed trading at $16,200 per tonne, holding at a five-year high achieved on Thursday, while tin futures...Read More
Domestic prices for secondary steel billet in India spiked up by at least 1,600 rupees per tonne mid-week to 27,200-27,400 rupees ($380-383) per tonne ex-works, on increased numbers of inquiries, but ended on Friday August 16 with only a marginal week-on-week increase of 100 rupees per tonne as inquiry levels dwindled.The price of steel billet, domestic, ex-works India,was assessed by Fastmarkets...Read More
Ferrous scrap prices were down or unchanged in all of the major markets during the working week ending Friday August 16, following limited trading and poor demand after a pause in market activity for a religious holiday.The Eid al-Adha holiday subdued trading in Turkey and other Middle Eastern countries as well as the markets where they trade. Trading activity remained slow for the remainder of th...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Market participants in Asia expect PT Indonesia Tsingshan Stainless Steel to be the most significantly affected should the European Union decide to impose anti-dumping duties on imports of stainless hot-rolled coil and sheet from the region.The EU earlier this week initiated an anti-dumping investigation into imports of such products from China, Indonesia and Taiwan.The EU probe could further limi...Read More
An oversupply that has been branded the leading cause of the persistent price weakness seen in China's vanadium market during the first half of 2019 will likely continue to act as a headwind for the rest of the year, market sources told Fastmarkets.Vanadium prices in China were on a general downward trajectory in the first six months of 2019, partly due to higher-than-expected supply and weaker-th...Read More
The three-month price of nickel on the London Metal Exchange remained elevated at the close of trading on Friday August 16, retaining gains made at Thursday's close above the $16,000 per tonne support level, while a weak LME tin price could see the two prices converge.Nickel's three-month price closed trading at $16,200 per tonne, holding at a five-year high achieved on Thursday, while tin futures...Read More
Progress at Mauritius-based Alphamin Resources' Bisie tin mine in the Democratic Republic of Congo has led the company to alter its leadership structure, with the project now a step closer to full production after the conclusion of its commissioning phase.Alphamin's chief executive officer, Boris Kamstra, stepped down after four years in the role earlier this week, making way for the appointment o...Read More
China's domestic rebar prices were flat on Friday August 16, though trading activity increased slightly. Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($521-525) per tonne, unchangedNorthern China (Beijing): 3,610-3,630 yuan per tonne, unchangedRebar futures picked up earlier in the day, which stimulated buying interest in the spot market. The benchmark rebar contract on the Shanghai Futures...Read More
Key data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 16. Europe The high carbon ferro-chrome price dropped by 4.4% in the past week due to lower offer prices with one deal reported being done at $0.71 per lb for 350 tonnes. European industry sources generally put prices in the upper 0.70 cents per lb range, although there wer...Read More
Compagnie de Tifnout Tiranimine (CTT) cut cobalt production at its operations in Morocco at the beginning of the August and will continue to operate at a lower rate in September as a result of low cobalt prices. Production will be reduced by 40-50% in August and September. In addition, there will be a full 10-day closure for maintenance in September, Fastmarkets understands. Production was initial...Read More
Progress at Mauritius-based Alphamin Resources' Bisie tin mine in the Democratic Republic of Congo has led the company to alter its leadership structure, with the project now a step closer to full production after the conclusion of its commissioning phase.Alphamin's chief executive officer, Boris Kamstra, stepped down after four years in the role earlier this week, making way for the appointment o...Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama rose by 2.9% month on month in July, according to data released by major Japanese trading house Marubeni Corp on Friday August 16. Total aluminium stocks at the three ports totaled 308,800 tonnes at the end of July compared with 300,000 tonnes at the end of June. It is the second consecutive monthly incre...Read More
Deliverable zinc stocks at Shanghai Futures Exchange-approved warehouses fell to 73,857 tonnes on Friday August 16, a drop of 5,585 tonnes or 7% from a week earlier, according to the SHFE's latest inventory report.The outflows came mainly from the warehouses of Zhongjinshengyuan and Nanchu in the southeast province of Guangdong, with 2,977 tonnes and 2,579 tonnes respectively, while 1,842 tonnes w...Read More
The three-month copper price on the London Metal Exchange was little moved during morning trading on Friday August 16, with its price action largely unfazed by another fresh inflow of some 31,000 tonnes, while nickel futures held gains above $16,100 per tonne. The red metal's three-month price was recently trading around $5,752.50 per tonne, mostly unchanged from its Thursday closing price of $5,7...Read More