The London Metal Exchange has amended its metals close-out schedule for the afternoon kerb session, switching the order of copper and lead and extending the zinc close-out on recommendation from the ring dealers committee, it said in a note to members on Friday December 21. From March 18, 2019, the exchange will switch the placement of copper and lead during the afternoon kerb session, with copper...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
Global ferrous scrap prices continued to fall further during the week ending Friday December 21, after transactions were done at lower prices.Prices fell further in most scrap markets worldwide this week, with deals in Turkey and India concluded at lower levels, while Asian scrap prices slumped from limited demand and US prices remained flat for a second week.Turkey importsPrices co...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Friday December 21, pressured by a broad sell-off in global stock indices amid fears of a potential US government shutdown. Despite decreasing over 1% this morning, the S&P 500 index is trading 0.50% lower over the afternoon, while a modest recovery in the Dow Jones Industrial Average did little to...Read More
Fastmarkets rounds up some of the key news and price moves across the global metal markets this week.Base metals Rio Tinto has concluded the sale of its entire 40% stake in the Grasberg mine in Indonesia for $3.5 billion, as part of a series of transactions involving state-owned PT Indonesia Asahan Aluminium (PT Inalum) and Freeport-McMoRan Inc.Aluminium market participants in the United Stat...Read More
Comex copper prices slipped on Friday morning in the US amid the continued trade war between the US and China and Federal Reserve worries, which are weighing on the equity and commodity markets.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.45 cents to $2.6820 per lb.Yesterday, the Federal Reserve lifted interest rates once again and issued...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The London Metal Exchange has amended its metals close-out schedule for the afternoon kerb session, switching the order of copper and lead and extending the zinc close-out on recommendation from the ring dealers committee, it said in a note to members on Friday December 21. From March 18, 2019, the exchange will switch the placement of copper and lead during the afternoon kerb session, with copper...Read More
Rio Tinto has concluded the sale of its entire 40% stake in the Grasberg mine in Indonesia for $3.5 billion, as part of a series of transactions involving state-owned PT Indonesia Asahan Aluminium (PT Inalum) and Freeport-McMoRan Inc. PT Inalum previously held a 9.35% stake in Grasberg, the world's second largest copper mine. Fastmarkets MB previously reported on the sale of Rio Tinto's stake earl...Read More
The latest metal markets news and price moves to start the North American day on Friday December 21. Base metals prices on the London Metal Exchange were mostly lower during morning trading, hindered by weak equity markets and oil futures which have kept investors risk-averse.The S&P 500 Index fell 1.58% this morning amid fears that the US government could face a shutdown and continued economic pr...Read More
Flat steel import prices partially retreated after previous gains and went down during the past week in South America, as persistent weakness in the Chinese market induced sellers to accept lower bids.Fastmarkets assessed the hot-rolled coil import price at $510-530 per tonne cfr on Friday December 21, down on the low end from $515-530 per tonne on December 14. That price range widened amid a dema...Read More
Prices for cold-rolled and hot-dipped galvanized coil in the United States have fallen further over the past week, following similar declines in the hot-rolled coil market.Fastmarkets AMM assessed both the domestic cold-rolled coil and coated steel base prices at $42 per hundredweight ($840 per short ton) on Thursday December 20, down $1 per cwt from $43 per cwt a week earlier. Fast...Read More
Fastmarkets reviews the major stories that have affected the steel market during the week ended Friday December 21. Raw Materials Global demand for direct-reduction grade iron ore pellets is forecast to increase following the commissioning of Tosyali Algeria's new direct reduced iron plant.Anglo American's Minas Rio iron ore operation in Brazil is expected to produce 16 million-19 million tonnes o...Read More
Indian flat steel producers slashed domestic hot rolled coil prices by 1,000 rupees ($14)per tonne this week following a slump in demand across all sectors.Fastmarkets' price assessment for domestic HRC in India was 42,000-42,500 rupees per tonne ex-mill on Friday December 21, a reduction of 1,000 rupees per tonne compared with last week's 43,000-43,500 rupees per tonne ex-mill.An offici...Read More
Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...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: HRC, CRC, HDG, PPGI Hot-rolled...Read More
There was zero activity in Brazil's pig iron export market this week, with buyers declining to make any purchases ahead of the New Year.Fastmarkets' weekly price assessment for pig iron exports from the south-eastern Minas Gerais region was $335-340 per tonne fob on Friday December 21, down by $5 per tonne week on week. "The market is dead. Even if producers cut prices [again] no one will buy...Read More
Prices for light iron scrap in the United Kingdom were steady this week while the market processed a price reduction made last week to 5C and monthly prices due to ongoing market headwinds, sources told Fastmarkets on Friday December 21.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?65-95 ($82-120) per tonne on December 21, flat week on week, bu...Read More
The price of shredded ferrous scrap imported into India fell further this week, with fresh deals bringing the index to a year-to-date low, market participants said on Friday December 21.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $331.98 per tonne cfr Nhava Sheva on December 21, down from $337.50 per tonne cfr Nhava Sheva on December 14. Continued poor...Read More
Global demand for direct-reduction (DR) grade iron-ore pellets is forecast to increase following the commissioning of Tosyali Algeria's new direct reduced iron (DRI) plant."In Algeria [Tosyali] has two 2.5 million-tonne-per-year DRI plants coming on stream - one has already been commissioned and the other is due to be commissioned next year," a source familiar with the matter told Fastmarkets.Tosy...Read More