Indian domestic secondary billet prices rose by at least 400 rupees ($6) per tonne in the week ended Friday May 24 on a rise in the costs for raw materials such as direct-reduced iron (DRI).The price for domestic secondary billet in India assessed by Fastmarkets on May 24 was 31,400-31,600 rupees ($450-453) per tonne ex-works, compared with 31,000-31,200 rupees per tonne last week."Billet prices h...Read More
Coated flat steel prices in Turkey continued to increase over the week ended Friday May 24, with demand improving in both local and export markets.Demand in the local market improved slightly and export demand was strong because of the United States' decision on May 17 to reduce tariffs on Turkish steel imports to 25% from the previous 50%.Coated coil producers did not accept new orders between Ma...Read More
UK warehousing and logistics company Henry Bath announced its appointment of Jerome Hack to the position of general manager on Friday May 24.Hack will continue to develop Henry Bath's business in the United...Read More
The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week. Despite moderately low volumes over the day's trading, more than 15,000 lots of nickel changed hands at a value of aro...Read More
Nickel's three-month price on the London Metal Exchange increased by more than 2.5% during morning trading on Friday May 24, with its price action appreciating back over $12,000 per tonne while its volumes traded led the complex. More than 5,200 lots of nickel were exchanged as of 9:37am London time, amounting to around $317 million of metal traded. The easing tightness in the metal's forward spre...Read More
Deliverable nickel stocks in Shanghai Futures Exchange-approved warehouses edged up by 3.1% week on week on Friday May 24 amid weakened demand for the metal, while inventories of the other base metals all declined.SHFE nickel stocks totaled 9,098 tonnes on Friday, up by 277 tonnes from 8,821 tonnes on May 17. The largest inflow of nickel this week was registered at SIPG Logistics' warehouse in Sha...Read More
The UK's light iron market picked up over the week ended Friday May 24, gaining back some of the losses made earlier this month when the cost of British exports to Turkey went down, with domestic demand and relatively tight availability prompting higher offer prices in the UK, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was...Read More
European import prices for alloy steel scrap decreased over the past week because of soft demand even though supply was also limited, sources told Fastmarkets on Friday May 24.The price of 18/8 stainless steel scrap solids imported to Europe was assessed by Fastmarkets on Friday at ?,?940-970 ($1,049-1,082) per tonne cif, down by ?,?50-60 per tonne week on week."Our [scrap] suppliers are complaini...Read More
The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week. Despite moderately low volumes over the day's trading, more than 15,000 lots of nickel changed hands at a value of aro...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Codelco expects to maintain current copper output at around 1.68 million tonnes per year over at least the next decade, it said, despite operational changes and sector headwinds.Production will be slightly lower than it was in the past 10 years, during which it averaged 1.69 million tpy, the Chilean state-owned copper producer said in its business and development plan on Thursday May 23. Stil...Read More
UK warehousing and logistics company Henry Bath announced its appointment of Jerome Hack to the position of general manager on Friday May 24.Hack will continue to develop Henry Bath's business in the United...Read More
Fastmarkets' assessment of the tin warrant premium available on the London Metal Exchange climbed by more than 60% on Tuesday May 21, reaching its highest level on record amid a flurry of higher quality stock inflows.This week, Fastmarkets' assessment of 99.85% Southeast Asian tin warrants, on an in-warehouse basis, soared to $20-100 per tonne on May 22, from $15-30 per tonne a week earlier.This w...Read More
Nickel's three-month price on the London Metal Exchange increased by more than 2.5% during morning trading on Friday May 24, with its price action appreciating back over $12,000 per tonne while its volumes traded led the complex. More than 5,200 lots of nickel were exchanged as of 9:37am London time, amounting to around $317 million of metal traded. The easing tightness in the metal's forward spre...Read More
Deliverable nickel stocks in Shanghai Futures Exchange-approved warehouses edged up by 3.1% week on week on Friday May 24 amid weakened demand for the metal, while inventories of the other base metals all declined.SHFE nickel stocks totaled 9,098 tonnes on Friday, up by 277 tonnes from 8,821 tonnes on May 17. The largest inflow of nickel this week was registered at SIPG Logistics' warehouse in Sha...Read More
A broad base of markets have steadied themselves this morning, Friday May 24, following the risk-off that unfolded over Wednesday and Thursday and was driven by deteriorating US-China trade relations and further weakness in flash purchasing managers' index (PMI) data.EU manufacturing PMI drops to 47.7, US equivalent falls 2 points to 50.6Investors favor gold and US treasuries as risk-off increases...Read More
The South American flat-rolled steel import market was mixed this past week, with most prices flat due to sluggish demand in the region despite the recent Chinese downtrend.Fastmarkets assessed the price for imported hot-dipped galvanized coil at $645-660 per tonne cfr main ports on Friday May 24, unchanged from the previous week. The price for imported heavy plate was also sta...Read More
The price of steel coil products in Turkey increased in the week to Friday May 23 in response to improving demand after the United States halved import duties on Turkish steel last week, sources told Fastmarkets.The US halved its import tariffs on Turkish steel to 25% on May 17.International market participants warned Turkish producers to avoid sudden price increases, however.D...Read More
CIS export steel billet prices continued to climb in the week ended Friday May 24, with customers finally accepting higher prices in bookings.Billet offers from the Black Sea basin were heard within the range of $430-445 per tonne fob Black Sea, depending on supplier, but few customers were ready to accept such prices, with bids still being reported...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday May 24 amid weak demand in the major Southeast Asian import markets of the Philippines and Indonesia.Market participants in the CIS adjusted their offers upward in response to bullish market sentiment after the United States reduced its tariff on imports of Turkish steel to 25% from 50%.Fastmarkets' daily import price assessm...Read More