Nickel's three-month price on the London Metal Exchange was higher at the close of trading on Friday June 14, having reached an intraday high of $12,065 per tonne but failing to close above that mark, while the rest of the complex continued to trade in a downtrend.Volumes traded in nickel were moderately high over the day, with more than 9,000 lots exchanged by the close, second to copper's 11,700...Read More

The queue for aluminium at London Metal Exchange-approved warehouses at Port Klang, Malaysia, operated by Istim, edged down to 109 days at the end of May, according to the latest LME data.This is slightly down from the 113-day queue at the end of April, the LME said on June 10, but it is significantly lower than the 229-day queue registered at the end of February.Queues for copper,...Read More

Eastern China's hot-rolled coil prices weakened further on Friday June 14, with rising inventory levels putting pressure on sellers.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, unchangedThe domestic market remained inactive despite sellers making price cuts.A Tianjin-based trader pointed out tha...Read More

China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More

Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More

The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More

Seaborne pig iron has become relatively competitive versus ferrous scrap over the past year in most regions, and China is no exception. As the first chart below illustrates, the gap between the MBR's proxy for imported pig iron price in China and the Metal Bulletin's Chinese domestic heavy melt scrap price assessment had shrunk by late 2017. The premium averaged $17 per tonne this year to date, co...Read More

Domestic prices for hot-rolled coil (HRC) in Turkey have been under pressure from slow trading, sources told Fastmarkets on Friday June 14.Buyers have been insisting on lower domestic prices, according to market sources. In addition, HRC buyers have been reported to have sufficient volumes of material in stock.Fastmarkets' weekly price assessment for Turkish domestic HRC was $520-530 per tonne ex-...Read More

Domestic rebar prices in Poland have moved down this week due to the negative impact of competitive import offers, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,000-2,120 zloty ($530-562) per tonne ex-works on June 14, compared with 2,100-2,150 zloty per tonne ex-works a week earlier.The assessment reflects...Read More

With an international career that has spanned senior positions with some of the biggest companies and mines for non-ferrous metal production, Sonami president Diego Hernandez tells Andrea Hotter about the multiple roles that led him to the pinnacle of copper mining.Diego Hernandez was in his mid-20s when he learned a very important lesson about negotiating. The young mining executive, who would go...Read More

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

Fastmarkets' alumina index fob Australia fell below $340 per tonne on Friday June 14 due to pressure from high availability of unplaced cargoes and low aluminium prices. The daily fob Australia alumina index declined to $339.65 per tonne - its lowest since August 24, 2017 on Friday June 14, down from $341.52 per tonne day on day and down from $349.39 per tonne week on week.Key drivers:The most rec...Read More

Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama fell 1.3% month on month in May,Japanese trading house Marubeni Corp said on Friday June 14.Total aluminium stocks at the three ports totaled 296,000 tonnes at the end of May, compared with 300,000 tonnes at the end of April, reversing the plunge seen from February to March this year, according to Ma...Read More

The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 14:Aluminium scrapCast: ?,?860-880 per tonne from ?,?880-900Mixed turnings 6%:...Read More

Nickel stocks on the Shanghai Futures Exchange rose to 16,936 tonnes as of Friday, up by 5,835 tonnes or 52.6% from last Friday, according to the SHFE's latest inventory report.The largest inflow of nickel this week was registered at China Storage University in Shanghai, with 5,227 tonnes of the metal entering the warehouse. Poor demand for stainless steel has weighed on demand for nickel. But the...Read More

Brazilian slab export prices decreased as local producers had to accept lower prices amid reduced demand and continued low flat steel prices in international markets.Fastmarkets' weekly price assessment for Brazil export slab fell to $430-440 per tonne fob on Friday June 14, compared with $440-450 per tonne fob a week before.Producers have been offering material to different destinations at $440.....Read More

Prices for cold-rolled coil in the United States fell again in the week to Thursday June 13 after stabilizing somewhat the week before, due largely to continued deterioration in demand and sufficient metal supply.Fastmarkets AMM's weekly assessment for domestic hot-rolled coil stood at $36 per hundredweight ($720 per short ton) on June 13, down by $1 from one week earlier.Fastmarkets assessed...Read More

European long steel mills remain under pressure from weakening ferrous scrap prices and negative market sentiment, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook on Friday June 14.While "the announcement of price increases by ArcelorMittal for long products, and the imminent maintenance at European mills could help to increase lo...Read More

Hot-rolled coil (HRC) import prices in India have fallen by $20 per tonne this week, with importers booking Japan- and South Korea-origin material for shipments in August, Fastmarkets heard on Friday June 14.The Indian HRC import price was assessed by Fastmarkets at $520-535 per tonne cfr Indian ports on Friday, down by $10-20 per tonne...Read More

Flat steel makers in Asia are fighting hard to retain a share of their region's market in the face of ample supplies of hot-rolled coil (HRC) coming in from international steelmakers, market sources have told Fastmarkets.Offers and transaction prices for HRC from Turkey and Russia have been undercutting the higher offer prices for Asia-origin material.The lower offers from Turkey were a result of...Read More