All base metals prices on the London Metal Exchange were lower on Friday June 18 than at the start of the week, by an average of 5.6%, brought down by a mixture of macroeconomic factors that have stifled the complex's recent bullish run.The decline across the complex to Friday was led by copper's fall on the LME, down by 8.3% on Friday to $9,135 per tonne from Monday's closing price of $9,971.50 p...Read More
Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More
China has started cautioning state-owned enterprises (SOEs) regarding overdependence on imported commodities and overexposure in commodity-based financial derivatives, market sources told Fastmarkets this week.In the past few days, there had been rampant market chatter the country's State-owned Assets Supervision & Administration Commission (Sasac) asking SOEs to report their positions in commodit...Read More
A shortage of shredded scrap is squeezing major supplier markets and pushing up the prices of key grades in the world's export markets, sources told Fastmarkets this week.Lower inflows to scrapyards and stronger demand for key grades in the major supplier nations have made it much harder for overseas consumers to secure shredded scrap over the past month.The lack of available shredded scrap, combi...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
Rebounds were under way in the base metals complex in London this morning, Friday June 18, while in Shanghai the base metals mostly reflected the weakness seen on the London Metal Exchange on Thursday.The more hawkish stance from the United States Federal Reserve on Wednesday lifted the dollar but has weighed on sentiment......as has China's decision to release state reserves of copper, aluminium...Read More
A shortage of shredded scrap is squeezing major supplier markets and pushing up the prices of key grades in the world's export markets, sources told Fastmarkets this week.Lower inflows to scrapyards and stronger demand for key grades in the major supplier nations have made it much harder for overseas consumers to secure shredded scrap over the past month.The lack of available shredded scrap, combi...Read More
Prices for shredded steel scrap imported into India and Pakistan have risen on active purchasing that tailed off toward the end of the week, sources told Fastmarkets on Friday June 18.Fastmarkets' steel scrap shredded, index, import, cfr Nhava Sheva, India, was $533.93 per tonne on June 18, up from $516.47 per tonne on June 11.Offers heard this week were in the range of $520-540 per tonne cfr, whi...Read More
Global scrap prices in the key markets diverged in the week to Friday June 18, with those in Asia moving upward, while Turkish scrap prices fell amid slow buying driven by uncertainty over finished steel sales.Turkish buyers had to pay a premium for US-origin shredded scrapUS export market reported new sales to TurkeySolid demand in Vietnam resulted in higher pricesChina reported stability in impo...Read More
An overview of the aerospace materials markets and the latest price moves.Cristina Belda in London; Jessica...Read More
The latest analysis from recent activity on the CME Group's cobalt metal futures contract, cash-settled against Fastmarkets' price assessment for cobalt, standard grade, in-whs Rotterdam.Key tradesJune 2, 2021: 120 tonnes (10 tonnes each month from January to December 2022, all at $21.45 per lb)June 17, 2021: 240 tonnes (10 tonnes each month from January to December 2022, all at $22.95 per lb; 10...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
The October rebar futures contract at the Shanghai Futures Exchange rose in the morning and dropped in the afternoon of Friday June 18 due to conflicting trends in the rebar market.Domestic Eastern China (Shanghai): 4,970-5,000 yuan ($771-776) per tonne, up by 50-60 yuan per tonne. Northern China (Beijing): 4,930-4,970 yuan per tonne, down by 140-150 yuan per tonne The National Developmen...Read More
The EU member states have voted in favor of the proposed extension of the safeguard measures on imports of steel products, market sources told Fastmarkets on Friday June 18.The vote was supported by 17 member states, the sources said.The European Commission had not released an official statement at the time of publication.On June 11, the Commission sent a draft proposal to the World Trade Organiza...Read More
Market activity remained slow in Europe's hot-rolled coil market on Friday June 18, with buyers holding back from deals and awaiting a final decision in the European safeguard case, sources told Fastmarkets.On June 11, the European Commission released a draft proposal to member states, suggesting a three-year extension to the existing safeguard measures on 26 steel products imported into the Europ...Read More
Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More
Prices for flat-rolled steel products imported into South America increased in the week ended Friday June 18 amid reports of higher freight rates and more expensive deals.Demand for August-shipment material was steady, and close to levels seen in previous months, according to market participants. But clients were still uneasy due to the possibility of tax changes in China.Most sources were expecti...Read More
The global lithium hydroxide complex extended its firm tone over the week ended Thursday June 17 against a backdrop of persistent supply constraints and optimism for growing demand.Battery-grade lithium hydroxide prices in both the domestic Chinese and seaborne Asian markets rallied because consumers are still finding it difficult to secure adequate feedstock. Battery-grade lithium carbonate suppl...Read More
Hot-rolled coil prices in China's domestic market edged higher on Friday June 18, while export prices fell as overseas buyers became more cautious due to the potential imposition of export taxes.DomesticEastern China (Shanghai): 5,500-5,530 yuan ($853-858) per tonne, up by 20-30 yuan per tonne.Northern China (Tangshan): weekly assessment: 5,450-5,480 yuan per tonne, down by 90-100 yuan per tonne.S...Read More