An overview of the battery raw materials markets and their price moves from the past week.Read More
Refining charges (RC) for blister copper imported into China dropped for the fifth consecutive month amid uncertainty over overseas supply and lower spot interest during annual negotiations.November's RC for 98-99% blister copper stood at $160-180 per tonne, with deals and offers reported within the range, Fastmarkets assessed. This compares with $170-185 per tonne a month earlier. Lackluster spot...Read More
The latest metal markets news and price moves to start the North American day on Friday December 7. Base metals prices on the London Metal Exchange were mostly higher during morning trading, with copper topping complex gains amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper...Read More
European lead producer Recylex has opened talks with the debtors of its Weser Metall division after leveraged investments at the smelter there failed to result in expected production gains. "The group anticipates that its German perimeter will not be able to reach its financial targets at December 31, 2018," the company said on Wednesday December 5. Weser-Metall GmBH, a wholly-owned German divisio...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday December 7, with copper topping complex gain amid a weaker dollar and resurgent trade tensions between the United States and China. Climbing just under 2% over the morning, copper futures made an approach back toward $6,200 per tonne after a sharp sell-off on Thursday afternoon resulted in the metal...Read More
Fastmarkets MB reviews the major stories that have affected the steel market during the week ended Friday December 7.Raw MaterialsIron ore producer Vale will use a 65% Fe iron ore index to price its pellets next year, moving away from using a 62% Fe iron ore index as the base price for such cargoes, executive director Peter Poppinga said.The world's largest iron ore miner also hailed the launch of...Read More
The Brazilian slab export price fell further over the past week amid an ongoing downtrend in the global markets, while the price range remained wide depending on product destination.Fastmarkets assessed the Brazilian slab export price at $430-485 per tonne fob on December 7, down from $435-495 per tonne on November 30. The high end of the range is at its lowest level since December 29, 2017.Shipme...Read More
Brazilian domestic flat steel prices decreased during November, due to steelmakers granting some discounts to distributors in an effort to regain market share while import prices dropped, sources told Fastmarkets MB.Fastmarkets assessed the price for Brazil domestic hot-rolled coil at 2,600-2,700 Reais ($669-695) per tonne ex-works on December 7, lower than 2,850-2,900 Reais per tonne on November...Read More
Indian steel mills have cut domestic hot rolled coil prices for December sales by about 2,000 rupees ($28) per tonne to discourage imports following a sharp fall in international HRC prices. Fastmarkets' price assessment for Indian domestic HRC was 44,000-44,500 rupees per tonne ex-mill on Friday December 7, a reduction of 2,000 rupees per tonne from last week's 46,000-46,500...Read More
Prices for light iron scrap in the United Kingdom have held this week, but there are mounting pressures expected to drag down the market next week, sources told Fastmarkets on Friday December 7. The light iron market is under pressure amid indications of a likely ?20 ($25.50) per tonne drop in domestic delivery settlements to UK consumers for December shipments. The UK light iron market may fall...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 coil Turkey, domestic, hot-rolled coil, offered at $530 per tonne ex-works, late December-early January production. Turkey, domestic, hot-ro...Read More
Domestic and import prices for steel coil products in Turkey were mostly stable this week with demand remaining weak, sources told Fastmarkets on Friday December 7."I believe prices will remain stable [through] December because changes will not improve demand," a source said."Europe is already in holiday mode," he added.Fastmarkets' weekly price assessment for Turkish domestic hot-rolled coil...Read More
Logistics disruptions in South Africa have not been enough to arrest the recent decline in the manganese ore price amid continued risk aversion in China, market sources are warning.A series of force majeure declarations in South Africa late last week following an accident that damaged a railway bridge are expected to delay deliveries of up to 200,000 tonnes of manganese ore from South Africa over...Read More
The following Metal Bulletin noble alloys, bulk alloys and ores prices changed on Friday December 7:Noble alloysMolybdenum Europe drummed molybdic oxide, $/lb: $12.20-12.30 per lb from $12.30-12.40Molybdenum US canned molybdic oxide, $/Ib $12.30-12.40 per Ib from $11.90-12.10Ferro-molybdenum basis 65% min, in-warehouse Rotterdam, $/kg Mo: $29.40-29.60 per kg from $29.50-29.70Ferro-molybdenum US 65...Read More
Domestic Chinese and cif Asia battery-grade lithium prices were stable week on week on Thursday December 6 after consumers continued to hold back on purchases on sufficient stocks and while negotiating next year's contract prices. The Chinese battery-grade lithium carbonate price was unchanged on thin trading activity. Battery-grade lithium hydroxide market stabilized after falling the previo...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Friday December 7.Base metals prices traded on the Shanghai Futures Exchange exhibited mixed movements during Asian morning trading on Friday, with concerns over trade tensions between China and the United States continuing to dampen sentiment.Check Fastmarkets MB's live futures report here.Of...Read More
Turkish steel producers managed just one deep-sea booking this week, mostly as a result of limited demand for finished steel products in both the domestic and export markets, sources said on Friday December 7.On Wednesday, a steel mill in the Marmara region booked a European cargo - comprising 20,000 tonnes of HMS 1&2 (75:25), 12,500 tonnes of HMS 1 and plate & structural (P&S) scrap, 5,000 t...Read More
The price of shredded ferrous scrap imported into India climbed this week, reflecting a series of deals done at higher prices after last week's slump, sources said on Friday December 7.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $342.78 per tonne cfr Nhava Sheva on December 7, up from $340.75 per tonne on November 30. The index fell by almost $10 per to...Read More
Seaborne iron ore prices were rangebound on Friday December 7 with low-grade material trading more actively than high grades.MB 62% Fe Iron Ore Index: $66.51 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Pilbara Blend Fines Index: $65.78 per tonne cfr Qingdao, down $0.08 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $70.32 per tonne cfr Qingdao, up $0.19 per tonne. MB 58% Fe Premium In...Read More
Comex copper prices rose on Friday morning in the United States in reaction to a softer dollar.The copper price for March settlement on the Comex division of the New York Mercantile Exchange increased by 0.95 cents to $2.7525 per lb. Commodities have endured a volatile week, reflecting trade worries and confusion whether the US and China will reach a long-term agreement."We view the renewed w...Read More