ArcelorMittal has lowered its 2019 forecast for apparent steel consumption in Brazil amid slowing growth in the country's gross domestic product and a recession in neighboring Argentina.Brazilian steel demand is now expected to increase by 1.5-2.5% this year, compared with a previous of estimate of 3-4%, according to calculations by the world's largest steelmaker disclosed in its second-quarter ea...Read More
European steelmakers have increased their offer prices of stainless-steel flat products 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, European steelmakers have increased the August alloy surcharges for grad...Read More
ArcelorMittal has lowered its 2019 forecast for apparent steel consumption in Brazil amid slowing growth in the country's gross domestic product and a recession in neighboring Argentina.Brazilian steel demand is now expected to increase by 1.5-2.5% this year, compared with a previous of estimate of 3-4%, according to calculations by the world's largest steelmaker disclosed in its second-quarter ea...Read More
Aluminium billet in the United States on Friday August 2 traded at its lowest premium since 2017 due to weak demand, while premiums in Europe, Brazil and Thailand were flat in quiet trading conditions. US premium falls to lowest since February 2017No change in quiet European marketBrazilian market flat on weak economyThailand market unchanged due to stable supply US billet upcharge sinks to Februa...Read More
The export market for pig iron from the Commonwealth of Independent States (CIS) was stable and seasonally calm in the past seven days, sources told Fastmarkets on Thursday August 1.Fastmarkets' weekly price assessment for high-manganese pig iron export, fob main port Black Sea, CIS, was $335-340 per tonne on Thursday, stable week on week.Sales from the CIS were heard only to the United States, th...Read More
European steelmakers have increased their offer prices of stainless-steel flat products 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, European steelmakers have increased the August alloy surcharges for grad...Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 2. China UG2 chrome ore prices rose for the fourth consecutive week amid steady consumer demand.Transaction volumes were lower than in previous weeks, indicating that the recent surge in buying activity may be slowing.Domestic ferro-chrome spot prices remained stable following the release by...Read More
Soaring iron ore prices have pushed Chinese hot metal costs up above those for ferrous scrap over recent months, stimulating greater use of the secondary raw material, according to calculations by Fastmarkets' research team. Fastmarkets' Steel Cost Service updates for the first and second quarters of 2019 detail average global integrated (BOF-route) plant's crude steel costs rose to an average of...Read More
Three-month base metals prices on the London Metal Exchange were predominantly weaker at the close of trading on Friday August 2, with copper leading losses and falling by some 2.2% to reach its lowest level since June 2017 amid a sharp sell-off across the complex.Largely prompted by fresh tariff threats against China from United States president Trump, investors took caution and reduced risk-expo...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
Lead stocks on the Shanghai Futures Exchange rose to 40,497 tonnes as of Friday August 2, up by 4,777 tonnes or 13.4% from last Friday, according to the SHFE's latest inventory report. The largest inflow of lead this week was registered at Zhejiang Tianchuan in Zhejiang province, with 3,219 tonnes of the metal entering the warehouse. An increased number of orders for lead could have stemmed from a...Read More
Price movements in the global ferrous scrap markets were mixed in the past week. Poor demand in India and Turkey caused prices to fall or remain stable, but Asian scrap buyers have accepted increased prices because of higher settlements in the domestic market of the principal supplier, the United States. Weak downstream markets keep Turkish mills away from spot market Higher freight cost pushes do...Read More
Low-grade manganese ore prices have given up most of July's gains in the past two weeks due to lower offers and general risk aversion in China. Fastmarkets' manganese ore index 37% Mn, cif Tianjin, dropped 12 cents to $5.39 per dmtu on Friday August 2 after producers reported aggressive counter-bids from buyers in China, prompting them to offer low to secure sales. Some deals were reported as...Read More
The management turnaround planned by Brazilian mining company Vale for its nickel operations in New Caledonia will not be fully seen in 2019, chief financial officer Luciano Siani said in a conference call on Thursday August 1.Output at the unit is not expected to improve significantly in the second half of the year, following a steep decline during the first six months in 2019, the executive said...Read More
Three-month base metals prices on the London Metal Exchange were predominantly weaker at the close of trading on Friday August 2, with copper leading losses and falling by some 2.2% to reach its lowest level since June 2017 amid a sharp sell-off across the complex.Largely prompted by fresh tariff threats against China from United States president Trump, investors took caution and reduced risk-expo...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday August 2:Aluminium scrapFloated frag, delivered consumer Europe, ?,?/tonne: ?,?980-1,000 per tonne...Read More
Lead stocks on the Shanghai Futures Exchange rose to 40,497 tonnes as of Friday August 2, up by 4,777 tonnes or 13.4% from last Friday, according to the SHFE's latest inventory report. The largest inflow of lead this week was registered at Zhejiang Tianchuan in Zhejiang province, with 3,219 tonnes of the metal entering the warehouse. An increased number of orders for lead could have stemmed from a...Read More
The three-month copper price on the London Metal Exchange was down during morning trading on Friday August 2, falling to its lowest level since June 10, while zinc futures shed 1.4% of Thursday's gains. Copper futures were recently trading just over $5,800 per tonne this morning, falling by more than 3% from levels seen last week, when copper's three-month price was trading above $6,000 per tonne....Read More
China imported 52.6 million tonnes of bauxite in the first six months of 2019, up by 30.2% year on year, according to official but unconfirmed data seen by Fastmarkets. This compares with the 40.4 million tonnes imported in January-June 2018. The increase was largely attributed to supply tightness in the Chinese domestic market, resulting from supply-side disruptions amid frequent environmental in...Read More