Prices for long and flat stainless steel products in Europe were stable this week, but at least one producer has announced sharp increases for March and the rest of the market is expected to follow suit.Finland-based Outokumpu announced on its website on Thursday February 21 that alloy surcharges for grade-304 cold-rolled (CR) sheets for March will increase by ?,?123 ($139) per tonne to ?,?1,351 (...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22. Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday February 22.China The domestic ferro-chrome spot price rose in response to higher raw material prices pushing up production costs. But Tisco steel mill announced their March tender...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday February 22:Aluminium scrap Floated Frag: ?,?1,050-1,095 per tonne from...Read More
Asian ferrous scrap demand softened this week, especially after Vietnamese buyers booked large quantities last week. Price falls in key bellwhether market Turkey alsoexacerbated bearish sentiment. Some Asian ferrous scrap market participants feel that prices have peaked and are getting ready to fall after this week."Prices have most likely peaked and should start coming off soon," a ferrous scrap...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday February 21, with strong afternoon performances in the prices of three-month aluminium, tin and lead amid a slowdown in copper and nickel activity.The three-month aluminium price climbed by 2% over the afternoon to reach its highest point since February 7, while a fresh cancelation of more than 17,000 to...Read More
Copper price moves on the United States' Comex trading system reversed in morning trading on Thursday February 21 after recent trade talks between the US and China gave no boost to metal prices.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped on Thursday by 2.30 cents per lb to $2.8970 per lb.Senior officials from the US and China are engaged i...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Thursday February 21, with positive steps in US-China trade talks doing little to support slumping prices although both copper and nickel futures held ground. Copper's three-month price consolidated lower over the morning but remains well supported above $6,300 per tonne by LME inventory which is at a decad...Read More
With the vast majority of the world's diamonds estimated to be conflict-free following the development of certification procedures under the Kimberley Process, the mining industry is now developing a blockchain-based solution to track the supply chain of the precious stones. The industry still faces challenges from insurance fraud, the financing of global pipelines and the tampering of official ce...Read More
Key data from the Wednesday February 20 pricing session in Shanghai. Cobalt metal key drivers The domestic Chinese cobalt metal price trended lower midweek due to thin spot activity following the Chinese New Year holiday on February 4-10 as well as lower offers from some suppliers who were trying to offload stocks. Mainstream offers and sales for Jinchuan-brand cobalt were around 290,0...Read More
The Turkish scrap import market was quiet on Thursday February 21 because of the sluggish markets for finished and semi-finished long steel and the subsequent downturn in prices.This week's only transaction so far was a UK cargo sold at $316 per tonne cfr for HMS 1&2 (80:20) on Wednesday. After this, the market prices went down by around $8-9 per tonne.The mills were showing almost no buying inter...Read More
With the vast majority of the world's diamonds estimated to be conflict-free following the development of certification procedures under the Kimberley Process, the mining industry is now developing a blockchain-based solution to track the supply chain of the precious stones. The industry still faces challenges from insurance fraud, the financing of global pipelines and the tampering of official ce...Read More
Copper price moves on the United States' Comex trading system reversed in morning trading on Thursday February 21 after recent trade talks between the US and China gave no boost to metal prices.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped on Thursday by 2.30 cents per lb to $2.8970 per lb.Senior officials from the US and China are engaged i...Read More
A correction is underway in the three-month base metals prices traded on the London Metal Exchange with prices off by an average of 0.5% on the morning of Thursday February 21, compared with Wednesday's closing levels.This morning's price pullbacks follow a day of strength on Wednesday when the complex closed up with gains averaging 1.2%, which saw copper pushed up through the top of resistance on...Read More
Canada-based North American Lithium has halted production of lithium spodumene at its La Corne mining operation in Quebec, eastern Canada, because of the lower spodumene prices in China, the company announced on Wednesday February 20.The operation has been closed temporarily because lithium spodumene prices have fallen to $600 per tonne from $800 per tonne over the past six months, North American...Read More
Key data from the Wednesday February 20 pricing session in Shanghai. Cobalt metal key drivers The domestic Chinese cobalt metal price trended lower midweek due to thin spot activity following the Chinese New Year holiday on February 4-10 as well as lower offers from some suppliers who were trying to offload stocks. Mainstream offers and sales for Jinchuan-brand cobalt were around 290,0...Read More
Domestic prices for heavy steel plate in Europe have moved up over the past week due to higher costs for steel slab, market sources told Fastmarkets on Thursday February 21.Although demand remained rather slow, the steelmakers - particularly re-rollers in Southern Europe - had to increase their prices for plate, market participants said.Fastmarkets' weekly price assessment for domestic grade-S235J...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel has increased its new hot-rolled coil offers by $40 per tonne for April-delivery and shipment cargoes due to the recent increases in raw materials costs.The producer's SAE1006 HRC is now on offer at $535 per tonne on a cif basis, up $40 per tonne from $495 per tonne cif for iMarch-shipment materials. And its SS400 and pipemaking...Read More
China's hot-rolled coil market maintained its upward momentum on Thursday February 21, with sellers continuing to make attempts to prop up prices amid rising costs.DomesticEastern China (Shanghai): 3,760-3,790 yuan ($559-563) per tonne, up 40 yuan per tonneNorthern China (Tianjin): 3,690-3,700 yuan per tonne, narrowing upward by 20 yuan per tonneSellers in Shanghai started selling at around 3,790...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday February 21 that are worth another look.Canada has established surtax-free quotas for imports of energy tubular products and wire rod originating from Mexico effective from February 2, an official from Canada's Ministry of Finance said.French mining and metallurgy company Eramet generated lower operating income f...Read More
Steelmaker Gerdau will halt operations for 60 days at blast furnace No1 at its Ouro Branco mill in the south-eastern Brazilian state of Minas Gerais, starting in early June 2019, the company said on Thursday February 21.The company does not expect the stoppage to affect sales volumes because it is already building up the inventory necessary to continue regular supplies to customers, chief executiv...Read More