China's hot-rolled coil sellers lowered their prices on Friday August 2 following a decline in the futures market, with sentiment deteriorating after United States President Donald Trump threatened to impose a new tariff on Chinese goods.DomesticEastern China (Shanghai): 3,760-3,770 yuan ($545-546) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,780 yuan per tonne, down 30 yuan per to...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
UK and European alloy steel scrap prices have increased over the past week due to higher nickel costs, sources told Fastmarkets on Friday August 2.The price of nickel, 3 months, London Metal Exchange Daily Official, was $14,520-14,525 per tonne on August 2, up from $14,100-14,125 per tonne on July 26.As a result,...Read More
The inter-merchant spot market for UK light iron was stable over the week to Friday August 2, extending the steady trend into a sixth week, in line with persistently limited volumes of material being made available to major processors, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?80-100 ($97-12...Read More
The price of shredded ferrous scrap imported into India has fallen for a third week to its lowest so far this year on poor market conditions, sources told Fastmarkets on Friday August 2.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $308.75 per tonne on August 2, down from $311.50 per tonne on July 26.Offer prices for shredded scrap moved...Read More
Turkish steel producers have ended the week without making any deep-sea scrap purchases because of the weak demand for finished long steel products and billet, sources said on Friday August 2.Offers from the Baltic Sea region were heard around $295 per tonne cfr for HMS 1&2 (80:20) but customers in Turkey were not interested in prices at that level yet."Turkish mills do not want to buy scrap befor...Read More
Gerald Group subsidiary SL Mining has halted iron ore exports from Sierra Leone's Marampa mine to comply with a request from the new mining ministry, which is reviewing the terms of the current license agreement, Gerald told Fastmarkets on Friday August 2. Production at Marampa stopped on July 3 after a temporary suspension order issued by the new Minister of Mines and Mineral Resources, Foday Rad...Read More
More disruptions to trade relations between the United States and China have added to the gloom in the commodities markets on Friday August 2, including iron ore.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $107.73 per tonne, down by $7.95 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $106.23 per tonne, down by $7.95 per tonne.Fastmarkets' index f...Read More
Sentiment in financial markets has weakened further after US president Donald Trump announced the United States will impose a 10% tariff on $300 billion of Chinese goods from September 1.This sent equities scurrying for cover with the Nikkei, Hang Seng and CSI 300 off by an average of 2.2% on the morning of Friday August 2, while gold prices approached recent highs again overnight as investors sou...Read More
Barring those for nickel and tin, base metals prices on the Shanghai Futures Exchange were all down during morning trading on Friday August 2 after a surprise tariff announcement from the United States escalated trade tensions with China.US president Donald Trump announced via social media platform Twitter on Thursday that the US will impose a 10% tariff on another $300 billion of Chinese goods fr...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices - Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lb - Click here for Fastmarkets' price assessment for alloy-grade cobalt, in-whs Rotterdam, $...Read More
The following Fastmarkets minor metals prices changed on Friday August 2:Minor metalsBismuth 99.99% Bi min, in-whs China, yuan/tonne: 42,000-43,000 yuan per tonne from 41,500-42,500 yuanCobalt alloy grade, in-whs Rotterdam, $/lb: $12.40-13.00 per lb from $12.35-12.90Cobalt standard grade, in-whs Rotterdam, $/lb: $12.20-13.00 per lb from...Read More
An overview of the China minor metals markets and the reasons for any price moves.Read More
Participants in the Southeast Asian ferrous scrap market expected spot prices to continue to rise throughout August in the face of higher domestic settlements in the United States, as well as bullish sentiment in Japan for the next Kanto Tetsugen auction.Buyers in the key import markets of Vietnam and Taiwan have accepted higher prices, Fastmarkets heard on Friday August 2, with only South Korea s...Read More
Zinc was lower at the close of trading on the London Metal Exchange on Thursday August 1, falling by some 1.3%, although nickel eked out some gains above $14,500 per tonne. Zinc and lead futures were the day's underperformers, closing at $2,404 per tonne while and below resistance at $2,000 per tonne respectively. The zinc-lead price differential, or switch, continues to narrow from earlier this y...Read More
Shanghai-bonded copper stocks hit an eight-month low at the end of July due to a fall in refined copper imports so far this year, while nickel and aluminium inventory rose due to arbitrage losses that are discouraging traders from delivering materials out of the bonded zone. Copper stocks hit their lowest level since mid-November Zinc stocks declined amid long-contract clearance, transshipme...Read More
A 10% month-on-month drop in Shanghai-bonded copper stocks in July has been more than offset by climbing exchange stocks, which have dampened any supportive effect on copper prices in China. Shanghai-bonded copper stocks fell to an eight-month low in July, reflecting much less refined copper imports so far this year. Nonetheless, increasing copper stocks in London Metal Exchange and Shanghai Futur...Read More
Multi-year lows in smelting income have sharply reduced China's production of intermediate copper products, which are primary smelting products and feed to produce copper cathodes, forcing dozens of domestic refineries to search for these materials overseas. "I have got inquiries for blister copper from eight refineries in just a week. I haven't seen anything like that before. It's such a shame th...Read More
Key data from the Wednesday July 31 pricing session in Shanghai and London. Key drivers Cobalt hydroxide payables recover slightly in the second half of July alongside a slight recovery in cobalt sulfate prices in the last week of the month. Greater optimism in China comes from falling standard grade cobalt prices, which eases production margins. Inquiries and business both...Read More