Fastmarkets published its India domestic, export and import prices later than scheduled on Friday April 12, because of a technical issue.The following prices were published in Fastmarkets' price book later than scheduled.India domestic cold-rolled coil, rupees per tonne, ex-worksIndia domestic direct-reduced iron, rupees per tonne, exwIndia domestic heavy plate, rupees per tonne, exwIndia domestic...Read More
Billet producers in the Commonwealth of Independent States (CIS) have started to seek sales opportunities in Asia, considering the weak sentiment in their traditional markets in the Middle East-North Africa (Mena) region.A large cargo of Ukraine-origin billet was sold to South Asia at $440-445 per tonne fob Black Sea, Fastmarkets has learnt, which would be equivalent to $470-475 per tonne cfr.And...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 15 points in pre-opening trade. Index futures responded to encouraging economic news released by China.Anadarko advanced $13.90 to $60.70 and Chevron dropped $6.20 to $119.70 after Chevron made a $33 billion cash and share offer to acquire the company. Estimated per share value of offer is $65.JP Morgan advanced $2.65...Read More
Copper's three-month price on the London Metal Exchange drifted lower at the close of trading on Thursday April 11, capped by low-volume trading amid international trade tensions, while positive unemployment figures from the United States in the afternoon did little to boost investor confidence.Three-month copper futures traded around $6,400 per tonne over the afternoon, but have softened by aroun...Read More
Comex copper prices tumbled in morning trading on Thursday April 11 in the United States amid weak trading volumes and a stronger dollar.The copper price for May settlement on the Comex division of the New York Mercantile Exchange declined by 2.25 cents per lb to $2.9030 per lb.Trading volumes have been low this week with major market participants attending the Cesco Copper conference...Read More
Benchmark alumina prices continued to decline on Thursday March 11 due the sudden arrival of surplus cargoes into the market. Fastmarkets' daily fob Australia alumina index dropped to $387.26 per tonne on Thursday, down from $402 per tonne the previous day. The index is now 7.2% lower than at the start of April when cargoes were trading as high as $417 per tonne. "All a sudden there are multi...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
Benchmark alumina prices continued to decline on Thursday March 11 due the sudden arrival of surplus cargoes into the market. Fastmarkets' daily fob Australia alumina index dropped to $387.26 per tonne on Thursday, down from $402 per tonne the previous day. The index is now 7.2% lower than at the start of April when cargoes were trading as high as $417 per tonne. "All a sudden there are multi...Read More
The halving of China's new energy vehicle (NEV) subsidies will have a positive impact on the production of lithium-ion phosphate (LFP) batteries in the short term, but nickel-cobalt-manganese (NCM) lithium-ion battery development will benefit in the long run, delegates heard at Fastmarkets' Battery Materials conference in Shanghai on Thursday April 11. "The values of subsidies have been cut signif...Read More
The European Union Council of Ministers has accepted a proposal that steel, iron and non-ferrous metal producers should be allocated free carbon allowances under the EU emissions trading system (EU ETS) until 2030. The decision, backing a proposal from the European Commission, has been made because of concern that steel and other metal production could move outside the EU if the industry was force...Read More
Turkish steel mills made a booking for scrap from the United States at a higher price compared with earlier this week, while another cargo transaction heard earlier today has since been disputed by the seller, sources said on Thursday April 11.A steel producer in the Iskenderun region booked a US-origin cargo comprising of HMS 1&2 (80:20) at $308 per tonne and shredded-scrap material at $313 per t...Read More
The halving of China's new energy vehicle (NEV) subsidies will have a positive impact on the production of lithium-ion phosphate (LFP) batteries in the short term, but nickel-cobalt-manganese (NCM) lithium-ion battery development will benefit in the long run, delegates heard at Fastmarkets' Battery Materials conference in Shanghai on Thursday April 11. "The values of subsidies have been cut signif...Read More
Healthy growth in nickel demand from the stainless steel and battery sectors and shrinking inventories on the Shanghai Futures Exchange and London Metals Exchange bodes well for nickel prices, according to Macquarie Capital senior commodities consultant Jim Lennon. "Our view is that, we have these two drivers in demand: stainless steel and batteries, and nickel inventories have been falling over t...Read More
The domestic prices for hot-rolled coil (HRC) in Europe have moved down slightly over the week although market sentiment is largely negative, sources told Fastmarkets.The only positive factor supporting domestic prices was high import offers, but it is unlikely to help EU mills to keep prices stable, market participants said.Buying activity has been low, with some buyers who had their stocks decre...Read More
China's hot-rolled coil prices stopped retreating on Thursday April 11 - and even rebounded in the eastern region - amid steady demand.DomesticEastern China (Shanghai): 3,980-3,990 yuan ($593-594) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,930-3,940 yuan per tonne, unchangedA Hangzhou-based trader said the day's trading activity was slightly higher than a day earlier amid continual...Read More
China's major mills cut their daily output rates for crude steel in late March and their inventories of finished steel also dropped.Members of the China Iron & Steel Association (Cisa) produced crude steel at an average rate of 1.83 million tonnes per day during the last 11 days of March, down 3.56% from 1.9 million tpd in mid-March, according to data released by...Read More
Prices for domestic rebar in Turkey increased over the past seven days because of the Turkish lira weakening, with demand remaining low, sources said on Thursday April 11.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,320-3,335 ($583-586) per tonne ex-works on Thursday, rising from TRY3,200-3,250 per tonne ex-works previously, where the price had remained since March 28...Read More
Turkish rebar export prices have decreased over the past week because offer prices have been pushed down by lower scrap costs, sources said on Thursday April 11.Fastmarkets' weekly price assessment for rebar exports from Turkey was $480-485 per tonne fob on an actual weight basis on Thursday, falling from $485-490 per tonne fob.Turkish steel producers offered rebar for export...Read More
The import price for steel billet went down in Egypt in the week ended Thursday April 11, with demand remaining weak, Fastmarkets has heard.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $455-458 per tonne cfr on Thursday, falling from $460-470 per tonne cfr last week.CIS-origin billet was offered to the country at $458-460 per tonne cfr but buyers believed $455 per...Read More
Turkish steel mills made a booking for scrap from the United States at a higher price compared with earlier this week, while another cargo transaction heard earlier today has since been disputed by the seller, sources said on Thursday April 11.A steel producer in the Iskenderun region booked a US-origin cargo comprising of HMS 1&2 (80:20) at $308 per tonne and shredded-scrap material at $313 per t...Read More