Miner MMG has declared force majeure on copper concentrate supply contracts from the Las Bambas mine in Peru.Two customers due to receive tonnages said they had been told by offtake partners they would not be receiving material as contracted. "We got...Read More
Adam HamiltonArchivesMar 29, 2019 The major silver miners have rallied higher on balance in recent months, enjoying a young upleg. That's a welcome change after they suffered a miserable 2018. Times are tough for silver miners, since silver's prices have languished near extreme lows relative to gold. That has forced many traditional silver miners to increasingly diversify into gold. The major silv...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Global scrap prices mostly fell in the week from Monday March 25 to Friday March 29, with only prices for exports from the United States rising on steady demand from the key import market of Turkey. Turkish steel producers buy mid-week Turkish demand supports US ferrous scrap export prices Weaker downstream markets hold back Vietnam ferrous scrap prices Taiwanese prices fall on lower bids India pr...Read More
Chrome steel prices in the UK edged higher in the week ended Friday March 29 on an increase in the quarterly European ferro-chrome benchmark price, Fastmarkets has learnt.The price of steel scrap solids with a chromium content of 12-13% was assessed by Fastmarkets on March 29 at ?190-230 ( ?249-302) per tonne delivered, widening upward by ?10 per tonne. This was the first change in the assessmen...Read More
Turkish steel mills continued to remain out of the deep-sea scrap market at the end of the week due to the uncertain political situation in the country, sources said on Friday March 29.The Turkish lira was still very volatile against the US dollar because of the political instability and Turkish steel producers preferred to wait for the results of Sunday's mayoral elections before m...Read More
Positive headlines regarding continuing US-China trade talks have fueled a recovery in global risk sentiment so far on Friday March 29, subsequently providing support to three-month base metals prices on the London Metal Exchange.Nickel and zinc led the complex higher, both up by 0.8%, while copper followed close behind with a gain of 0.7%. Lead, tin and aluminium saw more moderate increases this...Read More
The Friday Market Minute Global stocks gain as Treasury Secretary Steven Mnuchin touts "constructive" trade talks with Vice Premier Liu He in Beijing.U.S. Treasury curve inversion between 3-month bills and 10-year notes narrows as global bond yields edge modestly higher, but softer European inflation readings continue to apply downward pressure.U.K. Prime Minister Theresa May will brin...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Chinese domestic lithium spot prices held in the week ended Thursday March 28 with most producers resisting consumer expectations for lower prices from the reduced value-added tax (VAT) and the latest Chinese new energy vehicles (NEVs) subsidies. Battery-grade lithium prices held steady in China this week despite consumer pressure for lower prices following Chinese policy changes, such as the VAT...Read More
Indian importers have rejected the latest offer prices for imports of hot-rolled coil (HRC), citing falling prices for the commodity in the domestic market, Fastmarkets heard on Friday March 29.Indian HRC import prices were assessed by Fastmarkets at $575-580 per tonne cfr Indian ports on March 29, compared with last week's assessment of $560-565 per tonne cfr, an increase of $15 per tonne.The lat...Read More
Prices for coated steel products in Turkey were stable in the seven days to Friday March 29, with demand weak in both the domestic and export markets.Sources told Fastmarkets that demand was weak in March because of market uncertainty ahead of the mayoral elections being held across the country on March 31.The export market was also poor because of weak demand in Europe and the fact that Turkish p...Read More
Most prices for steel coil products in Turkey were stable over the week ended Friday March 29, with buying activity remaining subdued.The market has been slow in March because of uncertainty in the build-up to Turkey's mayoral elections, to be held across the country on the last day of the month.It is unclear whether the market will improve next week, but everyone is waiting for the elections to b...Read More
The prices for US imports of steel beams has risen on confirmed sales of Mexican material while the price for domestic beams remained stable, Fastmarkets AMM has learned.Fastmarkets' assessment for imported beams is now $790-810 per short ton ($39.50-40.50 per hundredweight) delivered duty paid Port of Houston as of Thursday March 28, up 3.9 % from $740-800 per ton ($37-40 per cwt) previously. At...Read More
Ukraine's largest long steel producer, ArcelorMittal Kryvyi Rih, is currently holding cold tests of its two new continuous casting machines - also known as CCM No2 and CCM No3 - which have combined annual capacity of 2.8 million tonnes, the company told Fastmarkets on Friday March 29.The move is aimed at strengthening the steelmaker's position in the billet export market and enabling ArcelorMittal...Read More
Indian domestic secondary steel billet prices have fallen by about 100 rupees ($1) per tonne this week because there have been fewer inquiries and minimal buying by makers of finished products such as rebar mills, Fastmarkets heard on Friday March 29.Indian domestic secondary billet prices were assessed by Fastmarkets at 31,200-31,400 rupees ($450-453) per tonne ex-mill on Friday, down by 100 rupe...Read More
Global scrap prices mostly fell in the week from Monday March 25 to Friday March 29, with only prices for exports from the United States rising on steady demand from the key import market of Turkey. Turkish steel producers buy mid-week Turkish demand supports US ferrous scrap export prices Weaker downstream markets hold back Vietnam ferrous scrap prices Taiwanese prices fall on lower bids India pr...Read More
The export price for pig iron from Brazil has improved because of the long lead times for the material, Fastmarkets learnt during the week ended Friday March 29.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $343 per tonne fob on March 29, up from $335-340 per tonne a week before.One deal for 50,000 tonnes of pig iron with 0.1...Read More
Chrome steel prices in the UK edged higher in the week ended Friday March 29 on an increase in the quarterly European ferro-chrome benchmark price, Fastmarkets has learnt.The price of steel scrap solids with a chromium content of 12-13% was assessed by Fastmarkets on March 29 at ?190-230 ( ?249-302) per tonne delivered, widening upward by ?10 per tonne. This was the first change in the assessmen...Read More