Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed on the morning of Friday August 27 while market participants wait to hear what United States Federal Reserve chair Jerome Powell has to say about the US monetary policy timeline when he speaks later today. Asian-Pacific equity indices were mixed this morningBase metalsLME three-month zinc ($2,981 per tonne) an...Read More
The domestic scrap markets in both Japan and South Korea weakened further on Friday August 27, placing further pressure on the seaborne markets, sources told Fastmarkets.South Korea reduces buying interest amid weaker local marketTokyo Steel drops bid prices for most scrap gradesImport interest limited in China despite stronger domestic sentiment.South KoreaA major South Korean steelmaker released...Read More
The price of flat-rolled stainless steel in Europe increased in the week ended Friday August 27 on a continuing shortness of supply, sources have told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?3,950-4,000 ($4,645-4,704) per tonne on Friday, up by ?,?50 per tonne week on week.Base pric...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
Indian domestic prices for secondary steel billet tumbled by 1,900 rupees ($26) per tonne in the week ended Friday August 27 with the price of the key raw material, direct-reduced iron (DRI), dropping by 1,200 rupees per tonne.The slide in billet prices through the week was driven by sluggish demand and fewer inquiries from buyers.The price of steel billet, domestic, exw India, assessed by Fastmar...Read More
Most flat steel prices in Turkey declined further in the week to Friday August 27 on slow demand during the summer holiday season, with buyers holding back from placing orders until prices stop falling, sources told Fastmarkets.The uncertainty over China's export tax on hot-rolled coil exports also remained in the market this week, so buyers want to wait until September for a clear direction of th...Read More
The light iron scrap market in the United Kingdom was stable during the week to Friday August 27, with most trade sources reporting steady prices to ensure the flow of material into yards.But some domestic consumers signaled a need for price cuts for monthly deliveries in October, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered...Read More
Treatment charges for lead concentrate rose in August on a strongly negative import arbitrage and a steep backwardation on the London Metal Exchange, market participants told Fastmarkets.In addition, more mined material has become available to the Chinese market, which has been tightly supplied for the past three months.Fastmarkets' lead spot concentrate TC, low silver, cif China and the lead spot...Read More
Fastmarkets proposes to increase the pricing frequency for its spodumene assessment to fortnightly.The assessment for spodumene 6% Li2O min, cif China is currently published on the last Wednesday of each month.Following an initial consultation with the market, and a review of typical data sets that are collected over the course of the month, Fastmarkets now proposes to assess and publish the...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday August 27.Jessica Long, Ruby Liu and Carrie...Read More
Fastmarkets copper concentrate treatment charge/ refining charge (TC/RC) index continued to rise in the week to August 27. Fastmarket's calculation of the copper concentrates TC index, cif Asia Pacific is now at its highest level since mid-April 2020, with smelters bidding for clean tonnage at mid-to-high $60s. Blended cargos from Asia were offered in the mid-$60s...Read More
Fastmarkets copper concentrate treatment charge/ refining charge (TC/RC) index continued to rise in the week to August 27. Fastmarket's calculation of the copper concentrates TC index, cif Asia Pacific is now at its highest level since mid-April 2020, with smelters bidding for clean tonnage at mid-to-high $60s. Blended cargos from Asia were offered in the mid-$60s...Read More
Treatment charges for lead concentrate rose in August on a strongly negative import arbitrage and a steep backwardation on the London Metal Exchange, market participants told Fastmarkets.In addition, more mined material has become available to the Chinese market, which has been tightly supplied for the past three months.Fastmarkets' lead spot concentrate TC, low silver, cif China and the lead spot...Read More
Strict real estate regulations issued by China's central and local governments have slowed down growth in the country's housing market in the first seven months of 2021.Participants expect these policies to continue to have a strong effect on the market for the remainder the year, which would slow down growth for rebar demand.Three red linesThe People's Bank of China and the Ministry of Housing &...Read More
The domestic steel rebar price in Poland was flat in the week to Friday August 27 due to a seasonal slowdown, though expectations for September are rather bright amid solid construction demand, sources told Fastmarkets.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, exw Poland was unchanged at 4,050-4,100 zloty ($1,041-1,054) per tonne on Friday.Read More
Turkish mills were largely inactive in the import scrap market over the week ended Friday August 27, while prices in key Asian markets were affected by the low levels of interest among mills for imported cargoes.Turkey books just one deep sea cargo during weekUS prepares for fall in domestic pricesVietnamese import prices constrained by rise in Covid-19 casesChinese scrap buyers hold back from imp...Read More
Silicon producer Ferroglobe marked a return to profitability in the second quarter of 2021 after 13 loss-making quarters, and expected higher prices for its products in the second half of 2021, it said in an earnings statement published on Monday August 23.Ferroglobe is the western world's largest silicon producer and makes silicon and manganese-based alloys.The company is based in London and Madr...Read More
Color-coated steel coil prices decreased in Turkey during the week to Friday August 27 in a slow market, sources told Fastmarkets.Uncertainty over the future direction of prices, which have decreased recently for most markets, made buyers refrain from booking material.Most export markets are still in holiday season, sources said.Domestic pricesFastmarkets assessed steel hot-dipped galvanized coil....Read More
The Latin American market continued to render support to CIS billet exporters with a second deal to the region reported during the week to Friday August 27. The price of the second one was, however, lower than the first.A cargo of 35,000 tonnes of Ukraine-origin billet with increased manganese content was sold to Latin America at $685 per tonne cfr. Sources said the price for basic grade would be...Read More
Most base metals registered declines in inventories at Shanghai Futures Exchange-registered warehouses during the week to Friday August 27, with nickel falling the most in percentage terms at 16.6%.Recording four consecutive weeks of losses, nickel stocks dropped by 16.6% to 4,455 tonnes from 5,344 tonnes last week. The largest outflow was from warehouses operated by Zhongchu Dachang based in Shan...Read More