Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday March 01* Copper -$167.67 (-1,126.68 yuan) Aluminium -$339.23 (-2,279.58 yuan) Zinc -$153.96 (-1,034.57 yuan) Nickel -$248.5 (-1,669.9 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Friday March 1, with a slight uptick in the US dollar index capping gains while disappointing Chinese and European PMI data continues to show weakness across global manufacturing sectors. That said, both copper and nickel, which are widely used as components in construction and infrastructure works, have co...Read More
Prices in the seaborne coking coal spot market moved in opposite directions on Friday March 1, with some Chinese buyers becoming more willing to pay more for materials while fob Australia offers start to show some weakness.A top Australian brand was sold via a miner's tender at around $217-218 per tonne to a Chinese trader, sources said during the day. A cargo in the same segment was traded around...Read More
China's domestic rebar prices rebounded for a second time this week on Friday March 1 on gains in the futures market, while the export segment also received a small boost.Domestic Eastern China (Shanghai): 3,780-3,830 yuan ($565-572) per tonne, up 40 yuan per tonneNorthern China (Beijing): 3,780-3,830 yuan per tonne, up 50 yuan per tonneRebar futures posted gains for two consecutive days, which re...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday March 1:Minor metalsAntimony MB free market regulus, $/tonne: $7,700-7,900 per tonne from $7,800-8,000Bismuth MB China domestic, yuan/tonne: 47,500-49,500 yuan per tonne from 48,500-50,500 yuanChromium MB free market alumino-thermic, $/tonne: $8,650-9,400 from $8,800-9,600Cobalt MB free market alloy grade, $/lb: $15.00-16.00 per lb...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
The transaction price for grade-304 stainless steel cold-rolled sheet products in Europe has increased this week following the announcement of a sharp rise in alloy surcharges by mills in the region.The March surcharges for grade-304 cold-rolled (CR) stainless sheets increased to ?,?1,308-1,351 ($1,489-1,538) per tonne on Friday March 1, according to data released by Outokumpu, Acerinox and Aperam...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday March 1:Aluminium scrapCast: ?,?960-980 per tonne from ?,?960-1,000Aluminium...Read More
Prices for ferrous scrap in the Asian markets have started to decline due to weaker demand from key downstream buyers in Vietnam and Taiwan, Fastmarkets heard on Friday March 1.Buyers in these two territories were out of the market temporarily, either on vacation or while waiting for further price falls.VietnamImport prices into the Southeast Asian nation were lower because of ample availability o...Read More
Import prices for steel billet in Southeast Asia were stable on Friday March 1 amid thin buying interest and the resulting lack of transactions.Fastmarkets' daily import price assessment for billet in Southeast Asia was $480-485 per tonne cfr Manila on Friday March 1, the same as the previous day. Southeast Asia's import prices have been largely steady since February 14 and last week rem...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday February 28, with low volumes and narrow trading ranges coming amid a slight uptick in the US dollar index, while continued US-China trade optimism came up against slower than expected US economic growth. Climbing furthest over the afternoon, zinc's three-month price climbed more than 1% during afternoon...Read More
The Comex copper price was lower in the US morning on Thursday February 28 after soft Chinese manufacturing data dampened sentiment for the metal. The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 0.45 cents to $2.9580 per lb. Overnight, China's manufacturing and non-manufacturing PMIs for February both disappointed at 49.2 and 54.3 respect...Read More
Hong Kong Exchanges and Clearing (HKEX), owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.In its financial statement for 2018, the exchange operator recorded a revenue increase of 20% year on year at H...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 28 that are worth another look.Hong Kong Exchanges and Clearing, owner of the London Metal Exchange, filed its 2018 earnings this week, reporting record LME volumes amid a 26% climb in profit after tax, while its forward-looking strategy earmarks asset diversification in its aim to become a global market leader.Th...Read More
Chile's copper production fell in January as the contained copper in each mined tonne diminished - as well as the refining output altogether - during the month, national statistics institute INE said on Thursday February 28.Output for the month totaled 460,064 tonnes of cathodes, concentrates and blister. This was down by 4.5% from 481,587 tonnes in the corresponding month a year before, and down...Read More
Domestic stainless steel prices in China edged up further over the past week amid market participants' optimistic outlook.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,700-15,100 yuan ($2,197-2,257) per tonne including value-added tax for the week ended Wednesday February 27, widening upward by 100 yuan per tonne from 14,...Read More
Chinese battery materials producers, who are the largest consumers of cobalt sulfate and cobalt tetroxide, have hesitated in purchasing any cobalt salts this week amid rapid falling international cobalt metal prices.The resulting thin buying appetites have forced suppliers to lower their spot offer prices to facilitate sales. Fastmarkets assessed the Chinese cobalt sulfate, basis 20.5% Co market p...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 at Co 20.5% basis is on a $ per lb basis.Fastmarkets MB prices Click here for Fastmarket MB's price assessment for coba...Read More
Turkish deep-sea scrap prices showed a very slight decrease with the news of a fresh US cargo heard on Thursday February 28.A steel mill in the Izmir region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20) at $313 per tonne, 10,000 tonnes of shredded at $318 per tonne...Read More