Stainless steel scrap prices continue to falter in the United States due to lower demand and a weakening in commodities pricing. "All signs point to a very depressing end to 2018. Even news of a postponement of additional tariffs could not help stainless steel prices move in a more positive direction," one dealer said. "Yep, we are in the home stretch here and also hearing that the market will be...Read More
Turkish steel producers resumed their deep-sea scrap bookings as soon as they received lower prices from a European supplier, sources said on Wednesday December 5.Mills in Turkey were looking for prices at around $300-305 per tonne cfr for HMS 1&2 (80:20) while the offers for the material were firm at $310-320 per tonne cfr from suppliers in the United States and the Baltic Sea.But a steel mill in...Read More
Brazil-based miner Vale already benefits from high-grade price indices and from demand for high-quality iron ore, but it expects the premiums paid for purer and less-contaminated ore to rise in the next few years, ferrous minerals and coal director Peter Poppinga said during the company's annual investor presentation in New York on Tuesday December 4.The Brazilian miner believes that the full-year...Read More
Seaborne iron ore prices rose on Wednesday December 5 on an uptick in the iron ore futures contract.MB 62% Fe Iron Ore Index: $67.38 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Pilbara Blend Fines Index: $66.65 per tonne cfr Qingdao, up by $0.22 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $71.21 per tonne cfr Qingdao, down by $0.19 per tonne.MB 58% Fe Premium Index: $61.85 per tonne...Read More
The seaborne coking coal spot market gained some traction on Wednesday December 5 with expectations growing for the ban on customs clearance for imports of the steelmaking raw material in China to be lifted in January.A cargo of a top Australian brand was also sold to an end user in eastern China at the December average of a cfr China index for premium hard coking coal at a 4% premium, sources tol...Read More
The tin premium in Europe has continued on its uptrend amid Indonesian supply tightness, while the supply concern is yet to affect premiums in the United States and China. Europe premiums have rallied on difficulty stemming from sourcing supply from Indonesia US tin premiums flat despite volatility on London Metal Exchange tin price The closed import window keeps Chinese premiums unchangedIndonesi...Read More
Base metals prices on the London Metal Exchange were mostly lower during morning trading on Wednesday December 5, with downward pressure emerging from a stronger US dollar index and trading worries. "Financial markets were quick to disavow any more positive rhetoric from the weekend G20 meet with the devil not only in the detail but rising concerns about slowing global economic growth," Marex Spec...Read More
Trading activity in China's domestic hot-rolled coil market picked up on Wednesday December 5 on concerns among buyers that prices would increase further in the days to come, sources told Fastmarkets MB.DomesticEastern China (Shanghai): 3,730-3,770 yuan ($545-551) per tonne, up 40-70 yuan per tonneNorthern China (Tianjin): 3,630-3,650 yuan per tonne, up 50 yuan per tonneWhile prices in Shanghai we...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for low-grade cobalt, in-warehouse, $ per lbClick here for Fastmarkets' price assessment for high-grade cobalt, in-warehouse, $ per lb In light of feed...Read More
The latest metal markets news and price moves to start the North American day on Wednesday December 5Base metals prices on the London Metal Exchange were mostly lower during morning trading, with downward pressure emerging from a stronger dollar index and trading worries.Here's how base metals prices looked at 12:08pm London time:Read our live futures report here. "Copper prices have been the hard...Read More
An uptick in the usage of tellurium in key downstream industry, such as thin-film solar photovoltaic and infrared detection, will continue to lend support to the international and domestic Chinese tellurium markets, speakers told delegates at the 2018 Chinese Minor Metals Forum in Kunming.Global production of solar photovoltaics is estimated at 98 gigawatts in 2017, of which 2.3 gigawatts came fro...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday December 5:Aluminium scrapCommercial pure cuttings: ?1,020-1,050 per tonne from ?1,030-1,050Clean HE9 extrusions: ?1,340-1,390 per tonne from...Read More
Three-month base metals prices on the London Metal Exchange were weaker on the morning of Thursday December 6, with the complex down by an average of 0.9%. Continued weakness in equities, bond yields and increased trade tensions between the United States and China seem to be weighing on sentiment. Three-month zinc and nickel prices led the declines with drops of 1.3% and 1.2% respectively, wh...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 39 points in pre-opening trade. Index futures are responding to the arrest in Canada of Huawei's Chief Financial Officer in response to a request by U.S. officials. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the U.S. October trade deficit was $55 billion. Ac...Read More
Positive developments in the US-China trade dispute kept London Metal Exchange base metals prices mostly elevated at the close on Tuesday December 4, although broad strength in the dollar is capping price rallies. Climbing more than 2%, the three-month lead price was the strongest performer over the afternoon, closing above $2,000 per tonne for the first time since November 21. Meanwhile, the thre...Read More
Comex copper prices were little changed during morning trading in the US, with market participants still digesting news of a detente between the US and China.The copper price for March settlement on the Comex division of the New York Mercantile Exchange inched down 1.85 cents to $2.7910 per lb.Over the weekend at the Group of 20 Nations (G20) meeting in Argentina, US president...Read More
Base metals prices on the London Metal Exchange were mostly higher during morning trading on Tuesday December 4, lifted by a slight downturn in the US dollar index and while market sentiment remains positive after recent US-China trade talks. The three-month nickel price continues to push higher - it is up by more than 6% from last week's low of $10,720 per tonne and is more than 1% higher than la...Read More
Global ferro-vanadium prices weakened last week due to trader profit-taking amid sluggish spot market demand. Chinese export prices sink on weak buying interestEuropean ferro-vanadium prices weaken on profit-takingEurope vanadium pentoxide (V2O5) market softens slightly amid inactivityUS ferro-vanadium market experiences more thin trading Export prices for Chinese ferro-vanadium continued to trend...Read More
Market participants held back on trading low-grade manganese ore on fears of further price drops in the run-up to year end, Fastmarkets learned in the latest pricing session in the week ended Friday November 30. Low-grade ore prices slide in China High-grade ore price inches up on stock-building activity Chinese physical manganese alloy price holds in spite of futures drop India...Read More