An overview of the minor metals markets and the reasons for any price moves.Read More
Global ferrous scrap prices rallied during the week ended Friday May 24 in response to the United States' reduction of the tariff on imports of Turkish steel, with the exception of Vietnam, where buyers adopted a more cautious stance. Prices surge on reduction of Turkish steel tariff in the US US export prices to Turkey up Taiwan prices rise but Vietnam prices hold ground on buyer skepticism India...Read More
The UK's light iron market picked up over the week ended Friday May 24, gaining back some of the losses made earlier this month when the cost of British exports to Turkey went down, with domestic demand and relatively tight availability prompting higher offer prices in the UK, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was...Read More
European import prices for alloy steel scrap decreased over the past week because of soft demand even though supply was also limited, sources told Fastmarkets on Friday May 24.The price of 18/8 stainless steel scrap solids imported to Europe was assessed by Fastmarkets on Friday at ?,?940-970 ($1,049-1,082) per tonne cif, down by ?,?50-60 per tonne week on week."Our [scrap] suppliers are complaini...Read More
A broad base of markets have steadied themselves this morning, Friday May 24, following the risk-off that unfolded over Wednesday and Thursday and was driven by deteriorating US-China trade relations and further weakness in flash purchasing managers' index (PMI) data.EU manufacturing PMI drops to 47.7, US equivalent falls 2 points to 50.6Investors favor gold and US treasuries as risk-off increases...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
China's domestic lithium hydroxide market dropped by 2.3% on Thursday May 23 on a gloomy downstream demand outlook, while the lithium carbonate price adjusted upward and the rest of the global market followed the recent price downtrend in China. Low uptake of nickel-rich cathodes in the auto industry negatively affected upstream battery-grade hydroxide demand. Domestic Chinese battery-grade...Read More
Coated flat steel prices in Turkey continued to increase over the week ended Friday May 24, with demand improving in both local and export markets.Demand in the local market improved slightly and export demand was strong because of the United States' decision on May 17 to reduce tariffs on Turkish steel imports to 25% from the previous 50%.Coated coil producers did not accept new orders between Ma...Read More
The price of steel coil products in Turkey increased in the week to Friday May 23 in response to improving demand after the United States halved import duties on Turkish steel last week, sources told Fastmarkets.The US halved its import tariffs on Turkish steel to 25% on May 17.International market participants warned Turkish producers to avoid sudden price increases, however.D...Read More
Sentiment among participants in the Chinese hot-rolled coil market was mixed on Friday May 24 after prices dropped in the east of the country.DomesticEastern China (Shanghai): 4,010-4,020 yuan ($580-581) per tonne, down 20-30 yuan per tonneNorthern China (Tianjin): 3,910-3,920 yuan per tonne, unchangedTrading in Shanghai was thinner than yesterday, even though many downstream compan...Read More
Indian domestic secondary billet prices rose by at least 400 rupees ($6) per tonne in the week ended Friday May 24 on a rise in the costs for raw materials such as direct-reduced iron (DRI).The price for domestic secondary billet in India assessed by Fastmarkets on May 24 was 31,400-31,600 rupees ($450-453) per tonne ex-works, compared with 31,000-31,200 rupees per tonne last week."Billet prices h...Read More
China's domestic prices further edged lower on Friday May 24 amid weakening demand from stockists.Domestic Eastern China (Shanghai): 4,030-4,070 yuan ($583-589) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,950-3,990 yuan per tonne, narrowed down 10 yuan per tonneStockists have become increasingly bearish on spot demand from June onwards because of the negat...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products.Latest transaction: rebarRebar East China, domestic, grade...Read More
Global ferrous scrap prices rallied during the week ended Friday May 24 in response to the United States' reduction of the tariff on imports of Turkish steel, with the exception of Vietnam, where buyers adopted a more cautious stance. Prices surge on reduction of Turkish steel tariff in the US US export prices to Turkey up Taiwan prices rise but Vietnam prices hold ground on buyer skepticism India...Read More
The UK's light iron market picked up over the week ended Friday May 24, gaining back some of the losses made earlier this month when the cost of British exports to Turkey went down, with domestic demand and relatively tight availability prompting higher offer prices in the UK, sources told Fastmarkets.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was...Read More
European import prices for alloy steel scrap decreased over the past week because of soft demand even though supply was also limited, sources told Fastmarkets on Friday May 24.The price of 18/8 stainless steel scrap solids imported to Europe was assessed by Fastmarkets on Friday at ?,?940-970 ($1,049-1,082) per tonne cif, down by ?,?50-60 per tonne week on week."Our [scrap] suppliers are complaini...Read More
Indian domestic secondary billet prices rose by at least 400 rupees ($6) per tonne in the week ended Friday May 24 on a rise in the costs for raw materials such as direct-reduced iron (DRI).The price for domestic secondary billet in India assessed by Fastmarkets on May 24 was 31,400-31,600 rupees ($450-453) per tonne ex-works, compared with 31,000-31,200 rupees per tonne last week."Billet prices h...Read More
CIS export steel billet prices continued to climb in the week ended Friday May 24, with customers finally accepting higher prices in bookings.Billet offers from the Black Sea basin were heard within the range of $430-445 per tonne fob Black Sea, depending on supplier, but few customers were ready to accept such prices, with bids still being reported...Read More
Prices in Southeast Asia's steel billet market remained stable on Friday May 24 amid weak demand in the major Southeast Asian import markets of the Philippines and Indonesia.Market participants in the CIS adjusted their offers upward in response to bullish market sentiment after the United States reduced its tariff on imports of Turkish steel to 25% from 50%.Fastmarkets' daily import price assessm...Read More
Transaction prices in Europe for grade-304 stainless steel sheets have widened downward over the past week on poor demand, with further decreases likely in June because of lower alloy surcharges, sources told Fastmarkets on Friday May 24.Fastmarkets assessed the price of grade-304 cold-rolled sheets in Europe at ?,?2,200-2,300 ($2,454-2,566) per tonne delivered on Friday, widening downward by ?,?4...Read More