The aluminium extrusion billet premium in the United States declined on Friday February 28, with extruders continuing to eschew spot purchasing and billet producers competing for limited spot opportunities.Fastmarkets' assessment of the aluminium 6063 extrusion billet premium, delivered Midwest US was at 5.5-7.5 cents per lb on February 28, down by 7.1% from 6-8 cents per lb previously -...Read More

An overview of the battery raw materials markets and their price moves from the past week.Read More

Fastmarkets has discontinued the publication of three base metals premiums, devised via calculation, after a month-long consultation.The three premiums, calculated on a $/lb basis, are as follows:MB-AL-0232 - Aluminium P1020A premium, ddp Midwest US, $/lb (twice weekly) and the associated aluminium P1020A premium, ddp Midwest US, $/lb monthly average MB-PB-0057 - Lead 99.97% ingot premium, ddp Mid...Read More

Benchmark alumina prices climbed to a seven-month high on Friday February 28 with deals concluding above $300 per tonne. Fastmarkets calculated the daily alumina index, fob Australia at $302.50 per tonne on Thursday, up from $299.74 per tonne the previous day and $292.47 per tonne a week ago. It was now at its highest level since July 30, 2019. Key drivers:  Nalco tender concluded on Fri...Read More

Prices for cold-rolled and galvanized sheet in the United States held steady after hot-rolled coil prices continued hovering in a narrow band for a two-week period.Producers responded to the rangebound hot roll by attempting to raise prices on Thursday February 27. At least four mills issued customer letters announcing increases of $40 per short ton ($2 per hundredweight). Market participants...Read More

Domestic steel beam prices in the United States remained flat in February in the face of mostly stable demand, while import beam prices widened, moving slightly lower at the midpoint.Fastmarkets' monthly price assessment for steel beams 8 x 8-inch,  fob mill US held at $36.50 per hundredweight ($730 per short ton) on Thursday February 27, flat from the January 30 assessment but up by 3.5% fro...Read More

Trading activity in the Commonwealth of Independent States export billet market was limited in the week to Friday February 28, as most market participants took a wait-and-see position to assess the situation in the global market.Lack of demand for finished long steel products in the customers' markets, stabilization of import scrap prices in the bellwether Turkish market, and dampened sentiment in...Read More

Indian mills are expected to raise domestic hot-rolled coil prices by about 750-1,000 rupees ($10-14) per tonne for March sales, citing rising demand and higher export prices.Indian mills have kept domestic prices of HRC stable through February, but two mills confirmed they were considering raising prices in March.Market participants, however, said that any increase...Read More

Brazilian slab export prices increased during the week to Friday February 28, with recent deals concluded at higher levels and a seasonal pick-up in the market.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil rose to $460-475 per tonne on Friday from $450-460 per tonne a week earlier.A series of deals to the United States concluded at $470-475 per tonne fob, ac...Read More

Domestic prices for hot-rolled coil in Europe increased slightly day on day on Friday February 28, buoyed by positive sentiment in the market, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, ex-works Northern Europe, was ?,?484.90 ($530.95) per tonne on Friday, up by ?,?0.52 from ?,?484.38 per tonne on February 27.The index was calculated based on deals and achie...Read More

Turkish domestic prices for hot-dipped galvanized coil (HDG) and color-coated coil increased again in the week to Friday February 28, amid moderate demand, sources told Fastmarkets.Sentiment in the market turned negative after at least 33 Turkish soldiers were killed and several others injured in an airstrike by the forces of Bashar al-Assad's regime in Idlib, northwestern Syria, on February 27.Fo...Read More

The inter-merchant spot market for light iron scrap in the UK was flat in the week ended Friday February 28, extending a period of price stability this month against a recovery in European export prices and with major British shredders seeking steady supplies, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More

Turkish steel producers remained out of the deep-sea scrap import market at the end of the week to avoid a further increase in prices, while escalated tension in Syria hit trade in the country, sources said on Friday February 28.After a buying spree over the past three weeks, mills stepped back from deep-sea scrap purchases at the beginning of this week.The most recent cargo was sold on Monday Feb...Read More

Iron ore vessel MV Stellar Banner, grounded near the coast of Brazilian northeastern state of Maranh??o earlier in the week, was carrying 294,871 tonnes of iron ore, a spokesperson for Brazilian mining company Vale told Fastmarkets on Friday February 28. Stellar Banner has capacity for 300,660 tonnes of ore. Operations at the Ponta da Madeira port terminal were still unaffected by the incident and...Read More

The novel coronavirus (2019-nCoV) is set to accelerate what the trade wars started: the diversification of global supply chains. Both events have demonstrated just how interconnected the global economy is and have provided a wake-up call to businesses worldwide that it might be time to reduce their reliance on China as the workshop of the world. Of course, that's easier said than done. China is th...Read More

Seaborne coking coal prices were largely stable on Friday February 28, although some market participants in China said that a correction was likely due to rising concerns about the global macroeconomic situation given the spread of the novel coronavirus (2019-nCoV) outside China. Fastmarkets indicesPremium hard coking coal, fob DBCT: $162.05 per tonne, unchangedPremium hard coking coal, cfr J...Read More

Seaborne iron ore prices dropped further on Friday February 28, with concerns about mills' margins emerging among Chinese buyers as global macroeconomic sentiment continued to plummet.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.96 per tonne, down $1.76 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.09 per tonne, down $1.55 per tonne.58% Fe fines high-premium, cfr Qingdao: $72....Read More

Zinc recorded the largest percentage increase in stocks in Shanghai Futures Exchange-approved warehouses in the week ending Friday February 28, with inventories climbing up by 11.8% week on week. Nanchu warehouse in Guangdong province gained the most zinc inventories, with total stock rising by 6,403 tonnes to 66,078 tonnes. "Zinc demand from downstream is still really weak on restricted transport...Read More

China's hot-rolled coil prices continued to fall on Friday February 28 amid thin trading, encouraging more overseas buyers to hold out for lower export offers.DomesticEastern China (Shanghai): 3,480-3,500 yuan ($496-499) per tonne, down 30-40 yuan per tonneNorthern China (Tangshan): 3,240-3,250 yuan per tonne, down 40-50 yuan per tonneTrading activity continued to weaken for a fourth day, which pu...Read More

Base metals prices on the London Metal Exchange were lower across the board again during morning trading on Friday February 28, due to the global coronavirus outbreak continuing to put bearish pressure on the market. "Markets across the world from commodities to equities fell on Friday as investors feared a coronavirus pandemic. The MSCI World Index headed for the worst week since the financial cr...Read More