An overview of the battery raw materials markets and their latest price moves.Read More
Copper concentrate treatment and refining charges (TC/RCs) went up marginally in late May from record low levels on May 24, while traders continued to take spot tonnages at similar terms and smelters became more active.Fastmarkets' Asia-Pacific TC/RC index rose to $58.90 per tonne/5.89 cents per lb on Friday May 31, compared with $58.30 per tonne/5.83 cents per lb a week ago when it was at the low...Read More
Customers of Konkola Copper Mines (KCM) told Fastmarkets that copper deliveries for May have arrived on time and June deliveries are not expected to be affected by the Zambian government's recent liquidation order of the 310,000 tonne per year facility. The Zambian government filed an official document to the High Court to liquidate the assets of KCM, which is majority-owned by Vedanta Resources,...Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Friday May 31, with most metals trading in narrow ranges despite a marginal downturn in the US dollar index. Volumes traded have been moderate over the morning, with more than 6,800 lots of copper exchanged as of 9:37am London time. The red metal's three-month price continues to trade in negative territory below $...Read More
RAPAPORT... Swarovski, the Austrian jeweler famous for its cut-glass crystals, is preparing to launch its natural diamond operations, Nadja Swarovski, head of corporate communications and design services, said in a panel discussion at the JCK Las Vegas show on Friday."We believe in the natural diamond story and we want to tell the story of a product that makes a positive contribution," Swarov...Read More
Deliverable nickel and zinc stocks in Shanghai Futures Exchange-approved warehouses rose in the week to Friday May 31, while the rest of the complex retreated. SHFE nickel stocks totaled 9,938 tonnes on Friday, up by 840 tonnes or 9.2% from last Friday. The largest inflow of nickel this week was registered at SIPG Logistics' warehouse in Shanghai, with 725 tonnes of the metal entering the warehous...Read More
Base metals traded on the Shanghai Futures Exchange were mostly little changed during morning trading on Friday May 31, while market participants digested disappointing Chinese manufacturing data.In data on Friday, the much-awaited release of China's official manufacturing purchasing managers' index (PMI) for May disappointed with a reading of 49.4, significantly lower than the forecast 49.9. Apri...Read More
Cold-rolled coil and coated sheet prices in the United States fell for a third week in a row, with soft demand and bearish sentiment remaining pervasive across the flat-rolled steel markets. Fastmarkets AMM's weekly assessment for US domestic cold-rolled coil dropped to $37 per hundredweight ($740 per short ton) on May 30 from $38 per cwt one week earlier. Fastmarkets AMM also assessed the&nb...Read More
Beam prices in the United States have retreated in the wake of a round of mill price cuts announced in late April, while market sentiment remains weak overall for much of the country, according to sources. Fastmarkets AMM's price assessment for domestic W8x8 beams fell by $2 per hundredweight to $41.25 per cwt ($825 per short ton) fob mill on Thursday May 30. That price is down by 4.6% from $...Read More
Troubled UK long steel producer British Steel entered compulsory liquidation on May 22. Fastmarkets examines the reasons behind the company's recent struggles, from uncertainty about Brexit and a slump in orders, to rising costs for raw materials.Brexit uncertaintyThe future of British Steel remains uncertain, with the UK's Insolvency Service approaching "more than 80 potential trade purchasers" t...Read More
As competition in the global steel markets remains fierce, Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in May 2019.The case list below includes only updates. For other continuing cases, see the updates for January,...Read More
Indian mills were likely to increase their prices for hot-rolled coil (HRC) for June sales by 1,000 rupees ($14) per tonne because of a rise in input costs, Fastmarkets was told on Friday May 31.Officials from at least two mills confirmed that their mills may consider increasing domestic HRC prices because of rises in the costs of key raw materials such as iron ore and coking coal."Domestic spot p...Read More
The price of hot-rolled coil products in Turkey adjusted over the week to Friday May 31, with local demand moderate before next week's Eid al Fitr celebrations, sources told Fastmarkets.Local demand for flat steel in Turkey failed to improve over the week to May 31, even though prices increased last week after the United States' duty reduction. The US halved its import tariffs on Turkish steel fro...Read More
Coated flat steel prices in Turkey were stable over the week ended Friday May 31, with demand improving in the export markets.Export demand was strong after the United States decided on May 17 to reduce its tariff on Turkish steel imports to 25% from the previous 50%.Coated coil producers did not accept any new orders between May 17 and May 22 because they wanted to see how much the price of hot-r...Read More
The price of shredded ferrous scrap imported into India was almost unchanged week on week due to market uncertainty and poor demand, sources told Fastmarkets on Friday May 31.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $330.40 per tonne cfr Nhava Sheva on Friday, little changed from $330.25 per tonne cfr one week earlier.Last week, prices went up by $10 per...Read More
Prices in the UK's light iron market were unchanged week on week on Friday May 31 despite the uncertainty caused by a fluctuating Turkish scrap market, sources said.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($107-133) per tonne on May 31, steady week on week."There was no change to prices this week. Prices in Turkey went up, and then...Read More
The Turkish deep-sea scrap markets remained silent at the end of the week because there was no demand in the United States for Turkey-origin finished steel materials, sources said on Friday May 31.Turkish steel producers had resumed their deep-sea scrap purchases at the end of the last week for a short-lived buying spree, after the US reduced its import duty on Turkey-origin products to the pre-ex...Read More
U.S. equity index futures are lower this morning. S&P 500 futures were down 29 points in pre-opening trade. Index futures responded to news that the U.S. has proposed a 5% tariff on Mexican imports on June 10th unless Mexico takes action to reduce illegal immigration. U.S. automaker stocks with Mexican production facilities quickly responded to Mexican tariff news. General Motors dropped $1.79...Read More
Seaborne iron ore prices fell further on Friday May 31 amid losses in the futures and steel markets.MB 62% Fe Iron Ore Index: $101.60 per tonne cfr Qingdao, down by $2.27 per tonne.MB 62% Fe Pilbara Blend Fines Index: $100.08 per tonne cfr Qingdao, down by $2.27 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $105.53 per tonne cfr Qingdao, down by $2.13 per tonne.MB 58% Fe Premium Index: $94.55 pe...Read More
Seaborne coking coal prices have ended this week lower, and expectations are rife that the market would weaken further, which prompted buyers to sit things out on Friday May 31.The Fastmarkets MB fob Australia Premium Hard Coking Coal Index stood at $201.59 per tonne during the day, unchanged from a day earlier but down 1.3% from that on Monday.The Fastmarkets MB cfr China Premium Hard Coking Coal...Read More