An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets' alumina index fob Australia declined by 3.7% on Friday June 7 to its lowest since early May.The daily fob Australia alumina index fell to $349.39 per tonne from $362.66 per tonne the previous day. Key drivers: The most recent tender for Indian material concluded at $341.80 earlier today, pushing the index...Read More
Fastmarkets proposes to reduce the frequency of publication of a number of base metal price assessments in response to low transaction liquidity and a lack of price volatility in the past year.The proposed changes would affect our copper, aluminium, zinc, lead and tin premium assessments, while our nickel offering would be unchanged. The main pricing day will continue to be Tuesdays (at 3-4pm Lond...Read More
Fastmarkets proposes to change the frequency of its assessments for tin ingot premiums from weekly to fortnightly in Rotterdam, Shanghai, Taiwan, Baltimore and the US Midwest. The proposal is being put the market in response to subdued spot liquidity across Fastmarkets' weekly tin pricing sessions, and comes after the discontinuation of four tin ingot premium assessments in Rotterdam, Singapore an...Read More
Lead's three-month price on the London Metal Exchange was lower during morning trading on Friday June 7, with price action falling back to $1,860 per tonne after breaching the nearby $1,900 per tonne resistance level on Thursday following a 2% climb. The announcement of Nyrstar's decision to declare force majeure at its Port Pirie smelter in Australia sent lead futures surging on Thursday. Over th...Read More
A customer of Konkola Copper Mines (KCM) has been informed that it will not be receiving copper deliveries in June after the Zambian government's recent liquidation order on the supplier.KCM, majority owned by Vedanta Resources, is the operator of the African country's largest copper smelter, Nchanga, with capacity for 311,000 tonnes per year."KCM just told us we would not be able to receive [our]...Read More
Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) plans to build its new galvanizing line in the country's S??o Paulo state, it announced on Thursday June 6.CSN plans to invest around 1.5 billion Reais ($386.5 million) to build the galvanizing line, which will have production capacity of 350,000 tonnes per year, the company said. The galvanizing line will be located in a new metallur...Read More
Cold-rolled and coated sheet prices in the United States stabilized after three consecutive weeks of declines, although market participants remained bearish over their near-term price outlook amid sufficient supplies and soft demand.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil stood at $37 per hundredweight ($740 per short ton) on Thursday June 6, unchanged from one week earli...Read More
Brazilian steel slab export prices have fallen due to weak buying activity and sellers facing competition from other regions. Fastmarkets weekly assessment for Brazil export slab narrowed downward to $440-450 per tonne fob on Friday June 7 from $440-480 per tonne fob a week earlier.Market participants indicated that sellers can't expect to get bookings above the $450-per-tonne-...Read More
Indian domestic prices for secondary steel billet fell by at least 800 rupees ($12) per tonne this week on account of reduced inquiries and minimal buying by finished product makers, Fastmarkets heard on Friday June 7.The domestic secondary billet price was assessed by Fastmarkets on Friday down by 800 rupees per tonne to 30,500-30,700 rupees ($440-443) per tonne ex-mill, compared with last week's...Read More
European steelmakers increased their exports of hot-rolled coil (HRC) in April-May 2019 to try to compensate for poor domestic demand, market sources have told Fastmarkets.During those two months, prices for EU-produced HRC were lower than usual compared with prices in other main steel-supplying regions, driven downward primarily by sluggish trading activity.HRC is mainly exported by European mill...Read More
Domestic rebar prices in Poland have been largely unchanged over the past week, supported by solid demand, sources told Fastmarkets on Friday June 7.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,110-2,150 zloty ($553-565) per tonne ex-works on June 7, compared with 2,100-2,160 zloty per tonne ex-works a week earlier.The assessment reflects the d...Read More
Prices for alloy steel scrap in Europe and the UK were largely stable this week in a slow market where poor demand has been matched by limited supply, sources told Fastmarkets on Friday June 7."Demand has fallen off a cliff, but there's also really not a lot of supply - it has been very slow coming in. And the mills just don't need much [scrap]," a UK trader said.Fastmarkets' price assessment for...Read More
Global ferrous scrap prices moved downward during the week ended Friday June 7, notably in India and Taiwan, but prices in Turkey, the United States and Vietnam remaining unchanged on a lack of trading. Turkish market pauses for public holiday US export prices unchanged on lack of sales Vietnam prices flat on limited trading Taiwan prices dip on unconfirmed Turkish deal rumors Indian prices contin...Read More
The price of shredded ferrous scrap imported into India moved down week on week following poor demand, sources told Fastmarkets on Friday June 7.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $324 per tonne cfr Nhava Sheva on Friday, down from $330.40 per tonne cfr Nhava Sheva one week previous.Offer prices for shredded this week ranged from $320-327 per tonne...Read More
Turkish mills did not book any deep-sea cargoes in the week ended Friday June 7 because of the week-long Eid al-Fitr public holiday, sources told Fastmarkets.There has been no trading activity during the week while Turkey marked the end of the period of abstinence for the Islamic holy month of Ramadan.Given the lack of activity in the...Read More
Ukrainian steelmaker Metinvest will reduce its overall capacity for pig iron at its Azovstal plant in a series of major blast furnace overhauls, Fastmarkets learned during the week ended Friday June 7.The complete shutdown of blast furnace (BF) No5 has already started, the company said on June 5."The equipment will be taken out of operation pursuant to the [refurbishment plan]. Once it has been co...Read More
Prices in the United Kingdom's light iron market were unchanged week on week on Friday June 7 due to Turkey's absence from the market, keeping prices steady, sources said. Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($108-133) per tonne on June 7, flat week on week. Turkey, a key UK export destination, has remained absent from...Read More
Sentiment in the key containerized scrap import market of Taiwan flipped to bearish this week, with demand stalling while end users awaited a clearer price direction after rumors of a lower-priced deal in Turkey.The rumor surfaced despite a trading hiatus in the bellwether Turkish market due to the Eid al-Fitr holiday, which ends on June 10. Demand in key bulk import market Vietnam...Read More
Seaborne iron ore prices were flat on Friday June 7 amid a muted market due to a public holiday in China.MB 62% Fe Iron Ore Index: $100.60 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $99.40 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $104.04 per tonne cfr Qingdao,...Read More