An overview of the minor metals markets and the reasons for any price moves.Read More
The three-month lead price on the London Metal Exchange was slightly firmer this morning, Friday November 23, while the rest of the complex was down by an average of 0.6%. Zinc led the decline with a 1.2% fall, while copper was off by 0.8% at $6,217 per tonne.Volume has been high with 11,796 lots traded as at 7.24am London time - the bulk of which has been in nickel, where 6,902 lots have traded....Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday November 23:Aluminium scrapFloated Frag: ?,?1,020-1,070 per tonne from ?,?1,000-1,050Cast: ?,?940-990 per tonne from ?,?920-970Mixed...Read More
Asia ferrous scrap prices are still falling, tracking weak downstream prices in the rebar and billet markets.The price of Taiwan's containerized import scrap has slipped below $300 per tonne cfr, while trading for heavy melting scrap (HMS) 1&2 (80:20) scrap in Vietnam was extremely illiquid due to cheaper material from Hong Kong and Japan being offered to Vietnamese steel mills.VietnamFastmarkets...Read More
Base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 22, with quiet trading continuing to keep prices broadly stable. Nickel's three-month price continued its downtrend, closing below $11,000 per tonne for the first time since December 2017; upward price action continues to be limited by slow Chinese stainless steel production. Additionally, the I...Read More
Alufer Mining's first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday November 22. The shipment, totaling 203,009 tonnes, was shipped to Qingdao port in China after being sold to Aluminum Corp of China (Chalco) - the country's largest alumina and primary aluminium producer. The Bel Air mine is on on track to produce 5.5 million tonnes per y...Read More
The majority of base metals prices on the London Metal Exchange were rangebound during morning trading on Thursday November 22 while overall volumes remain light. Holding gains made at Wednesday's close, the three-month lead price remained above $2,000 per tonne amid continued outflows in LME stock - which remain at nine-year lows - and strong demand from the lead-acid battery sector. Similarly, z...Read More
Alufer Mining's first shipment of bauxite from its Bel Air project in Guinea has arrived in China, the company said on Thursday November 22. The shipment, totaling 203,009 tonnes, was shipped to Qingdao port in China after being sold to Aluminum Corp of China (Chalco) - the country's largest alumina and primary aluminium producer. The Bel Air mine is on on track to produce 5.5 million tonnes per y...Read More
The price of cobalt sulfate in China continued to fall this week amid slow trades and aggressive buyer bidding. At the same time, a number of producers told Fastmarkets that they have stopped offering material into the market because prices are below levels at which they can make a profit. Fastmarkets assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 74,000-78,00...Read More
Turkish steel producers have resumed their deep-sea scrap purchases after getting lower prices from Europe, sources said on Thursday November 22.The mills in the country were looking for lower prices for scrap because of their fears of renewed product outflows from China and consequently weakening prices for rebar.A steel mill broke the...Read More
Three-month base metals prices on the London Metal Exchange continued to give mixed performances this morning, Thursday November 22. Zinc and lead showed weakness with prices down by 0.4% and 0.3% respectively, while tin prices were up by 0.3%. The rest were little changed, with the three-month copper price up by 0.1% at $6,242 per tonne.Volume has been below average with 4,562 lots traded as at 7...Read More
The price of cobalt sulfate in China continued to fall this week amid slow trades and aggressive buyer bidding. At the same time, a number of producers told Fastmarkets that they have stopped offering material into the market because prices are below levels at which they can make a profit. Fastmarkets assessed the price of cobalt sulfate (Co 20.5% min) in China on an ex-works basis at 74,000-78,00...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis.Fastmarkets MB prices Click here for Fastmarkets MB's price assessment for nickel sulfate, Ni 21% min 22.5% max, China ex-works, yuan/tonne. The exchange rate according to...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have remained under pressure from slow buying activity in the past week, sources told Fastmarkets on Thursday November 22.European distributors were reported to have sufficient stocks of the material and this, in combination with a seasonal slowdown in demand, was reflected in the negative effect on the market.In addition, Turkish mills have decr...Read More
China's hot-rolled coil market regained some stability on Thursday November 22 with buyers continuing to hold back from restocking.DomesticEastern China (Shanghai): 3,770-3,780 yuan ($543-545) per tonne, narrowing upward 10 yuan per tonneNorthern China (Tianjin): 3,680-3,700 yuan per tonne, down 10 yuan per tonneTrading activity remained sparse during the day. A Zhejiang-based trader told Fastmark...Read More
China's ferrous futures were largely steady during morning trading on Thursday November 22, with both steel and steelmaking raw materials contracts ending the session little changed from their opening prices.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,718 yuan ($536) per tonne, down 2 yuan per tonneJanuary hot-rolled coil: 3,612 yuan per tonne, unchangedDali...Read More
Rebar and wire rod prices in Turkey's domestic market fell on Thursday November 22, on a stronger lira and poor demand, sources told Fastmarkets.The Fastmarkets weekly price assessment for domestic rebar in Turkey was TRY3,080-3,220 ($576-602) per tonne ex-works, down from TRY3,250-3,400 per tonne.Rebar in the Izmir and Karab? 1/4 k regions was TRY3,100-3,200 per tonne, while in the Istanbul...Read More
Turkish long steel export prices have gone down sharply on sluggish demand and falling global steel and scrap prices, sources said on Thursday November 22.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $490-500 per tonne fob on an actual weight basis on Thursday, down from last week's $505-510 per tonne.The mills in the country lowered their offers to $500-510 per tonne f...Read More
Steel billet import prices in Egypt have fallen slightly over the past week amid poor demand and lower offer prices, while domestic rebar prices were unchanged despite expectations of lower values, sources said on Thursday November 22.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $475-480 per tonne cfr on Thursday, down from $480-485 per tonne cfr last week.Billet p...Read More
The import price for hot-briquetted iron (HBI) in Italy decreased in the week ended Thursday November 22 due to softer prices for hot-rolled coil and low demand, sources have told Fastmarkets.Fastmarkets' import price assessment for HBI in Italy decreased to $315-330 per tonne cfr on November 22, from $345-350 per tonne cfr a week before."The workable HBI price for us depends on how strong the HRC...Read More