Fastmarkets AMM attended the annual convention of the National Association of Steel Pipe Distributors (NASPD) on Thursday March 7 and Friday March 8 in New Orleans. Here are five themes gleaned in the sessions, on the sidelines and at the soirees.The US Gulf Coast is excited about China LNG import rumors. Reports that China may agree to buy an immense amount of liquefied natural gas (LNG) exp...Read More
There were widespread rises in global ferrous scrap prices in the week ended Friday March 8, due to stable demand from end-users in key importing markets, Fastmarkets heard.Turkish steelmakers were buying imported materials to shore up their inventories, while buyers in Asia were purchasing spot cargoes to hedge against future price increases.TurkeyScrap prices in the Turkish import market began t...Read More
UK prices for alloy steel scrap have moved up over the past week due to higher costs for nickel, sources told Fastmarkets on Friday March 8.Fastmarkets' weekly price assessment for domestic UK 18/8 stainless steel scrap solids was ?830-870 ($1,090-1,143) per tonne delivered on March 8. This was up from ?800-840 per tonne delivered a week earlier, reflecting transactions heard in the market."Nick...Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Friday March 8, with most metals ending the week down despite strong fundamentals across the complex and continued market optimism over US-China trade resolution. Losing momentum over the afternoon, the three-month nickel price fell to just over $13,000 per tonne amid continued selling pressure. ...Read More
Engelhart Commodities Trading Partners (ECTP), formerly known as BTG Pactual Commodities, has exited London Metal Exchange warehouse operations in Malaysia, according to an LME notice published on Friday March 8. The London-based commodity trader has been reducing its physical base metals trading operations since November 2018, liquidating aluminium stocks and cutting down its team of physical tra...Read More
Base metal stocks at Shanghai Futures Exchange-approved warehouses were mostly down week on week on Friday March 8, with lead leading the descent in percentage terms, while copper stocks registered a 4% gain. Deliverable lead stocks at SHFE-approved warehouses have fallen by 928 tonnes or 3.2% since March 1 to 28,427 tonnes as of March 8. Over the week to Friday, warehouse company Guochutianwei in...Read More
Aluminium foundry premiums in Europe and the United States remain under pressure this month due to continuing weak demand in the automotive industry. Foundry premiums in Germany fell 5% month on month and are down more than 16% from the start of 2019. In Germany, the premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment...Read More
Prices for long and flat stainless steel products in Europe were stable this week, but higher prices were beginning to emerge in the market following the increase in monthly surcharges, market participants told Fastmarkets on Friday March 8.The March surcharges for grade-304 cold-rolled (CR) stainless sheets increased to ?,?1,308-1,351 ($1,474-1,522) per tonne on March 1, according to data release...Read More
The US copper rod premium has again held steady, although market participants noted pressure from solid demand and tightening supply, citing reported output issues at copper rod producer Asarco.Fastmarkets AMM's assessment of the US copper rod premium was unchanged at 15-17 cents per lb delivered to the Midwest on Thursday March 7; the premium has remained at that level since January 3. "Demand is...Read More
The aluminium scrap market in the United States was largely unmoved over the past week, but with expectations of warmer weather to come - and uncertainty regarding the robustness of secondary aluminium alloy demand - some scrap prices came under pressure."Some suppliers are still trying to eke out a little push in terms of price from previous weather delays, but with warmer weather coming now and...Read More
Base metals prices on the London Metal Exchange were collectively lower at the close of trading on Friday March 8, with most metals ending the week down despite strong fundamentals across the complex and continued market optimism over US-China trade resolution. Losing momentum over the afternoon, the three-month nickel price fell to just over $13,000 per tonne amid continued selling pressure. ...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Engelhart Commodities Trading Partners (ECTP), formerly known as BTG Pactual Commodities, has exited London Metal Exchange warehouse operations in Malaysia, according to an LME notice published on Friday March 8. The London-based commodity trader has been reducing its physical base metals trading operations since November 2018, liquidating aluminium stocks and cutting down its team of physical tra...Read More
Base metal stocks at Shanghai Futures Exchange-approved warehouses were mostly down week on week on Friday March 8, with lead leading the descent in percentage terms, while copper stocks registered a 4% gain. Deliverable lead stocks at SHFE-approved warehouses have fallen by 928 tonnes or 3.2% since March 1 to 28,427 tonnes as of March 8. Over the week to Friday, warehouse company Guochutianwei in...Read More
Coated steel base prices firmed in the United States this past week due to steady demand, while cold-rolled coil was steady compared with the previous week, market participants said.Fastmarkets AMM's weekly assessment for the domestic hot-dipped galvanized steel base price moved to $41.50 per cwt ($830 per short ton) on Thursday March 7 from $41 per cwt a week earlier, and the all-i...Read More
Prices for coated steel products in Turkey decreased in the seven days to Friday March 8, with demand weak in both the domestic and export markets.Demand was unlikely to improve in March, sources told Fastmarkets, because of market uncertainty in the period before mayoral elections to be held across the country on March 31.Buyers want to see if end-user demand improves after the elections and have...Read More
Some steel coil prices in Turkey decreased again in the week ended Friday March 8, with buying activity remaining subdued.The market is unlikely to improve in March because of the uncertainty in the build-up to Turkey's mayoral elections held on the last day of the month, sources told Fastmarkets. Market participants want to wait and see if end-user demand improves after elections are over.Additio...Read More
China's export hot-rolled coil (HRC)trading was thin this week, with sellers still insisting on prices too high for most overseas buyers to accept on Friday March 8.DomesticEastern China (Shanghai): 3,820-3,830 yuan ($569-571) per tonne, narrowing downward 10 yuan per tonneNorthern China (Tianjin): 3,770-3,780 yuan per tonne, up 10-20 yuan per tonneTrading was thinner in Shanghai compare...Read More
Import prices for steel billet in Southeast Asia were up slightly on Friday March 8 amid pressure from elevated offer levels, although some buyers were still unwilling to increase their bids this week, market participants said. Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-490 per tonne cfr Manila on Friday, widening upward by $5 per tonne from $480-485 per...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, steel plate, steel sheet and other flat steel products. Latest transactions: Hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More