The Comex Silver Delivery Demand System has issues, as we observed the opening of the ICE session at 4pm...by J. Johnson of Fort WealthGreat and Wonderful Finally-a-Friday Folks! Gold again, is trading higher but is still stuck in a month long channel with the trade now at $1,477.60, up $5.30 with the high nearby at $1,480.00 and the low down at $1,465.50. Silver is up 13.1 cents with th...Read More

The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More

Prices in the CIS export billet market moved up during the week to Friday December 13, as mills achieved higher prices for deals, supported by the uptrend in global semi-finished steel markets and the ongoing increase in scrap prices.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $411 per tonne on Friday December 13, up by $9 per tonne over the week.Several cargoes of Russi...Read More

The inter-merchant spot price for light iron scrap in the United Kingdom moved higher in the week ended Friday December 13, adding to gains made the week before, against increased European export prices to traditional markets.The market has been climbing in the quarter, with exporters looking to supply renewed demand from traditional buyers of European steel scrap in Turkey and the Indian subconti...Read More

Europe's largest copper producer, Aurubis, reported a ?,?137 million ($152.5 million) operating earnings loss in the fiscal year of 2018-19 ended September 30, but pledged to maintain plans to become a multi-metal provider, in a company statement on Wednesday December 11. During October 1, 2018-September 30, 2019, Aurubis generated ?,?192 million in operating earnings before taxes (EBT), compared...Read More

Nickel ended firmly above $14,000 per tonne in London Metal Exchange trading on Friday December 13 while copper stepped back after peaking earlier at its highest since May.The three-month nickel price closed at $14,170 per tonne, not far back from an intraday high of $14,270 per tonne. Turnover was at its highest since October 14 at around 11,800 lots by the close. The metal shrugged off inflows o...Read More

An overview of the battery raw materials markets and their latest price moves.Read More

Chinese copper smelter Jiangxi Copper and Zambian blister copper producer Chambishi (CCS) have signed a 2020 supply contract at a refining charge (RC) of $128 per tonne cif China, Fastmarkets learned. This RC number, which some in the market set contracts for other blister brands against, is significantly lower than last year's $165 per tonne and reflects anticipated tightness in the supply o...Read More

Stocks of base metals stored at Shanghai Futures Exchange-approved warehouses increase in the week to Friday December 13 bar those of aluminium and zinc.The largest weak-on-week increase in deliverable stocks was in lead - they rose by 8,951 tonnes or 24.2% to 45,926 tonnes. The biggest inflow was into the Zhejiang Tianchuan warehouse in Zhejiang province...Read More

The three-month aluminium price on the London Metal Exchange was higher across morning trading on Friday December 13, with price action unaffected by a fresh inflow of some 32,975 tonnes, while nickel futures maintained gains made over the week. Aluminium's outright price on the LME was recently seen at $1,776.50 per tonne, little moved from Thursday's closing price of $1,775 per tonne. Turnover i...Read More

Broader markets are upbeat this morning, Friday December 13, because hopes are running high that a preliminary United States-China trade will be signed before new tariffs come into force on Sunday as well as following the United Kingdom's general election result that means a Brexit deal moves forward.In a post on social media platform Twitter, US President Donald Trump said: "Getting very close to...Read More

Galvanized sheet prices in the United States were unchanged in the week to Thursday December 12, while cold-rolled coil prices ticked up slightly amid decent demand ahead of the holiday season - although sources were unsure if that would continue next year.Fastmarkets' price assessment for steel cold-rolled coil, fob mill US was $38 per hundredweight ($760 per short ton) on December 12, up by...Read More

Hot-rolled coil prices were steady on Friday December 13, but a new increase is looming over a market that some already describe as "frothy."Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.22 per hundredweight ($564.40 per ton) on Friday December 13, unchanged from the day prior but up 0.5% from $28.08 per...Read More

Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), continued to increase in the week to Friday December 13 amid strong demand, sources told Fastmarkets.Market participants attributed the higher steel prices to the rise in raw materials and hot-rolled coil prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,...Read More

Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko."This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pu...Read More

The Polish domestic rebar price started to move up in the week to Friday December 13 due to anticipated scrap price increase in the country, sources told Fastmarkets. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $292.09 per tonne on December 12, up by 15.33% since the middle of the month when steelmakers last...Read More

Turkish flat steel producers increased their prices again during the week to Friday December 13 in response to strong demand because of low stocks, while raw material prices, especially those for scrap, have continued to increase. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $297.06 per tonne on December 12, rising from $283.95 per tonne on December...Read More

Turkish steel producers have continued to make deep-sea scrap purchases on Friday December 13, with prices climbing higher, sources said.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $299.50 per tonne, 3,500 tonnes of bonus at $309.50 per tonne and 2,500 tonnes of busheling at $314.50 per tonne cfr.A steel mill in the Marmara region book...Read More

The price of ferrous scrap imported into India moved up this week on higher offers but sentiment is turning negative, sources told Fastmarkets on Friday December 13. Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $290.75 per tonne on Friday, up from $286.46 per tonne a week earlier. Offers ranged from $285 to $300 per tonne this week, compared with $280 to $290 per ton...Read More

Export pig iron prices from the Commonwealth of Independent States have moved higher during the week ended Thursday December 12, following the uptrend in the scrap market, source told Fastmarkets. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea was $310-315 per tonne on December 12, up by $5 per tonne week-on-week."Prices for scrap [a relative...Read More