The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 10:Aluminium scrapFloated Frag: ?,?1,010-1,050 per tonne from ?,?1,025-1,060Cast: ?,?910-930 per...Read More
Gay Huey Evans will be the first female chairperson of the London Metal Exchange, replacing Brian Bender when he retires at end of the year, Fastmarkets understands. Huey Evans has spent more than 30 years working in the financial services industry. She is currently a non-executive director of Itau BBA International Ltd, deputy chairperson of The Financial Reporting Council and a board...Read More
Lead's three-month price on the London Metal Exchange had tumbled by 2.5% by the close of trading on Thursday May 9, reaching its lowest level since August 2016 at an intraday low of $1,830.50 per tonne.Three-month lead prices were down by just under 10% since late-February, when prices last exceeded $2,000 per tonne. The price of lead spent most of 2018 above that threshold level, and while LME s...Read More
Comex copper prices failed to recover on Thursday May 9 morning in the United States amid persistent worries over the Sino-US trade talks.The copper price for July settlement on the Comex division of the New York Mercantile Exchange tumbled 3.70 cents to $2.7375 per lb"The intense selling pressure in the copper market since the start of May is...Read More
The Chinese spot alumina price could rise over the course of 2019 despite new capacity planned this year due to new downstream aluminium projects which outpace the raw material's capacity expansion, Fastmarkets learned during LME Asia Week in Hong Kong this week. China is projected to add 5.4 million tonnes of new alumina capacity this year, a year-on-year rise of 69% from 3.2 million tonnes of ne...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 9 that are worth another look.Aluminium traders in Europe have been switching business to the Italian port of Trieste in the past month, due to high stock levels leading to opportunistic trading. Market sources told Fastmarkets that the port is ideal for sending material into neighboring Central and Eastern Europe, with tru...Read More
The Chinese spot alumina price could rise over the course of 2019 despite new capacity planned this year due to new downstream aluminium projects which outpace the raw material's capacity expansion, Fastmarkets learned during LME Asia Week in Hong Kong this week. China is projected to add 5.4 million tonnes of new alumina capacity this year, a year-on-year rise of 69% from 3.2 million tonnes of ne...Read More
Fastmarkets will launch a Chinese export price assessment for electrolytic manganese flake on Friday May 10.After a consultation period, Fastmarkets will launch a weekly price assessment for electrolytic manganese flake, 99.7% basis, fob China, $/tonne. The introduction of the price will expand Fastmarkets' current price coverage for electrolytic manganese flake, providing the marke...Read More
Fastmarkets will host a free web seminar on Tuesday June 18 at 9.30am London time to discuss recent price moves in the cobalt market and how industry developments might affect the market going forward.Click here to register for the webinar. Date Tuesday June 18, 2019 Time 9.30am Join members of our cobalt price reporting and research team for: - An update on price assessment specifications, method...Read More
Turkish steel producers remained silent in the deep-sea scrap markets on Thursday May 9 because of the low levels of finished steel demand in both their domestic and export markets, sources said.Since booking a US cargo on May 7, the mills have stopped their deep-sea scrap purchases and no significant imports have been heard.A steel mill in the Iskenderun region booked the US cargo on Tuesday, com...Read More
Fastmarkets will host a free web seminar on Tuesday June 18 at 9.30am London time to discuss recent price moves in the cobalt market and how industry developments might affect the market going forward.Click here to register for the webinar. Date Tuesday June 18, 2019 Time 9.30am Join members of our cobalt price reporting and research team for: - An update on price assessment specifications, method...Read More
Spot demand for cobalt sulfate in China following the Labor Day holiday (May 1-4) has been weak, with consumers continuing to conduct "hand-to-mouth" procurement, Fastmarkets learned during the latest pricing session. Fastmarkets assessed the cobalt sulfate Co 20.5% min, ex-works China price at 50,000-52,000 yuan ($7,378-7,673) per tonne on Wednesday May 8, down 1% from 50,000-53,000 yuan per...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. The cobalt sulfate, Co 20.5% min, China ex-works, adjustment to the low-grade cobalt low-end price is on a $ per lb basis. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cobalt sulfate, Co 2...Read More
India is likely to be the rising star of the Asian steel markets longer term due to the expected growth in its steel demand, delegates at the Singapore Iron Ore Forum - the anchor event of Iron Ore Week - said on Thursday May 9."India's steel demand is expected to increase by 200 million tonnes in 20 years, with domestic production capacity likely to rise to match it," Wood Mackenzie bulks researc...Read More
Chinese hot-rolled coil prices dropped further on Thursday May 9 amid thin trading, with market participants getting spooked by rising concerns over deteriorating trade relations between China and the United States.DomesticEastern China (Shanghai): 4,050-4,060 yuan ($597-599) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, down 10-30 yuan per tonneAlthough pr...Read More
The Chinese steel market is likely to be caught between the poles of production cuts in Tangshan and bearish sentiment arising from a threat of higher import tariffs in the United States in May.As such, market participants are expecting steel prices to experience some short-term fluctuation, albeit in a narrow range."Spot prices in the coming weeks will depend on whether Tangshan strictly implemen...Read More
Rebar prices in Egypt's domestic market widened downward in the week to Thursday May 9 because of limited demand caused by Ramadan and uncertainty over import duties.The Islamic holy month of Ramadan started earlier this week.Egypt imposed temporary import duties on billet and rebar on April 15 at a rate of 25% for rebar and...Read More
Turkey has terminated an investigation into the effects of steel product imports on the country's domestic steelmaking industry, the Official Gazette announced on Tuesday May 7.No additional duties or other measures will be imposed after the conclusion of the investigation.The probe was begun in April 2018, and considered imports from all origins of flat, long and stainless steel, along with steel...Read More
Turkish long steel export prices have fallen further on the back of sluggish demand in the country's major markets, sources said on Thursday May 9.Turkish steel producers reduced their rebar offer prices by another $5 per tonne to $470-480 per tonne fob on an actual-weight basis, while bids came in at $460 per tonne or lower, according to market participants.Fastmarkets' weekly price...Read More
Turkish steel producers remained silent in the deep-sea scrap markets on Thursday May 9 because of the low levels of finished steel demand in both their domestic and export markets, sources said.Since booking a US cargo on May 7, the mills have stopped their deep-sea scrap purchases and no significant imports have been heard.A steel mill in the Iskenderun region booked the US cargo on Tuesday, com...Read More