Aluminium billet premiums fell across Europe, the United States and Brazil on Friday May 10 due to continued poor demand for billet, forcing market participants to sell material at aggressively low levels. Italy premium drops to February 2018 low Deals discounted in Brazil Limp demand pushes US upcharge down Asia premiums unchanged following holidaysItalian premium returns to pre-Rusal-sanctions...Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday May 10 in a quiet market, while bearish sentiment from the automobile industry continued to cap premiums. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne, steady from April's assessment the...Read More
Base metals prices on the London Metal Exchange were mostly higher at the close of trading on Friday May 10, with nickel futures climbing 1.6% while the three-month lead price failed to recover from a three-year low. Despite the US government's decision to hike tariffs on $200 billion worth of Chinese goods, potentially escalating trade tensions between the two countries, base metals prices remain...Read More
An overview of the battery raw materials markets and their price moves.Read More
Some Chinese ferro-alloys and minor metals prices wavered in a week when the United States raised the import tariff on a number of commodities from China on Friday May 10.The US raised import tariffs on $200 billion-worth of Chinese products to 25% from 10% at noon Asia time on Friday. This followed a threat on Sunday by US President Donald Trump to raise tariffs ahead of a new round of trade talk...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week to Friday May 10. China China's domestic ferro-chrome spot price continued its downward trajectory amid abundant supply and thin buying interest. Some domestic ferro-chrome suppliers cut their offers further due to pressure from relatively high stocks and the bearish sentiment. Many market participant...Read More
The alumina price on the Chinese spot market is likely to break through this year's peak and move up even further in response to the local authorities' investigation into Xinfa Group regarding the chemical leakage in its alumina smelters in Xiaoyi city, Shanxi province in China, sources told Fastmarkets on May 10."The sentiment has become totally different compared with two days ago and we have se...Read More
Some Chinese ferro-alloys and minor metals prices wavered in a week when the United States raised the import tariff on a number of commodities from China on Friday May 10.The US raised import tariffs on $200 billion-worth of Chinese products to 25% from 10% at noon Asia time on Friday. This followed a threat on Sunday by US President Donald Trump to raise tariffs ahead of a new round of trade talk...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday May 10 in a quiet market, while bearish sentiment from the automobile industry continued to cap premiums. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne, steady from April's assessment the...Read More
The global ferrous scrap trade continued to soften during the week ended Friday May 10 due to negative sentiment and weak demand in the major markets. Political disturbances in Turkey put more pressure on mills US export prices on both coasts fall Lower Kanto tender, Turkish lira drive down spot prices in Asia Indian market still subdued by general election process.Turkey importsTurkish steel prod...Read More
Austenitic alloy steel scrap prices in Europe and the United Kingdom weakened this week because of further falls in nickel prices, sources told Fastmarkets MB.The three-month official nickel price on the London Metal Exchange was $11,900/11,925 per tonne on Friday May 10, down from $13,180/13,200 per tonne a month earlier. This drop of 10% over the preceding month was not initially tracked by aust...Read More
While US-China trade talks continue, the market seems to be clinging on for an eleventh-hour deal this morning, Friday May 10, because key markets are holding up surprisingly well.But, if a deal does not miraculously emerge soon then further disappointment is likely to set in.US raises tariffs on $200 billion worth of Chinese imports to 25% China's CSI 300 is up by 3.2%, other Asian equity markets...Read More
An overview of the battery raw materials markets and their price moves.Read More
The Chinese domestic battery-grade lithium hydroxide price dropped by more than 5% week on week due to ample stocks and buyer reticence, while there was good demand for technical and industrial grade carbonate from lithium manganese oxide (LMO) and lithium iron phosphate (LFP) battery manufacturers, supporting the price in the latest pricing session. The lithium hydroxide market moved down in Chin...Read More
The price of some steel coil products in Turkey increased over the seven days to Friday May 10, but buying activity remained subdued, sources told Fastmarkets this week.With demand remaining weak in the local market, producers did not want to reduce prices because that would lead to a further reduction in demand as buyers would hold out for even lower prices, sources said.However, demand...Read More
Coated flat steel prices in Turkey fell over the week ended on Friday May 10, with demand weak in the domestic market.Demand in the local market remained poor because of the continuing weakness in the Turkish lira and uncertainty following elections.The lira was trading at TRY100 to $16.27 on May 10 compared with TRY100 to $17.47 on April 12 and TRY100 to $18.76 on March 1, according to exchange r...Read More
German industrial conglomerate ThyssenKrupp is planning to cut 6,000 jobs over the next three years, including 2,000 jobs in its steel business, chief executive officer Guido Kerkhoff said in a conference call on Friday May 10.ThyssenKrupp remains open to consolidation opportunities for its European steel business, which will be reintegrated into the parent company, following news of the European...Read More
Domestic prices for rebar in Poland have moved down over the past week, reflecting an anticipated fall in scrap costs, sources told Fastmarkets on Friday May 10.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland moved down to 2,170-2,240 zloty ($566-584) per tonne ex-works on May 10, from 2,210-2,270 zloty per tonne ex-works a week earlier.The assessment reflected d...Read More
The ongoing trade talks between the United States and China kept buyers on the sidelines on Friday May 10, sources said, with market participants expected to wait for clearer price direction before returning.Export prices were flat on Friday, but are expected to continue to face downward pressure due to the depreciation of the Chinese yuan against the US dollar. Falling domestic pri...Read More