The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
Global steel billet markets continued to improve during the week ended Friday May 24 following the United States' removal of additional import duties against Turkey.Mills in Turkey fully returned to the scrap markets and paid higher prices after the United States removed the additional duties, which means that Turkey is once more on a level playing field with other prospective exporters to the US,...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim. People familiar with the situation said that the warehousing firm had been found to have acted vigorously and without delay in its dealings with Glencore at its warehouses in Port Klang, Malaysia, following large cancellations of alu...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More
Investing for the remainder of 2019: Opportunities and Pitfallshttps://mikesmoneytalks.ca/investing-for-the-remainder-of-2019-opportunities-and-pitfalls/?mc_cid=b245e69156&mc_eid=592546b4b5 The Bottom LineMost developed equity markets in the world reached an intermediate peak on or about May 1st. Last week they continued moving slightly lower. ObservationsTechnical action by individual S&...Read More
The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week. Despite moderately low volumes over the day's trading, more than 15,000 lots of nickel changed hands at a value of aro...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Codelco expects to maintain current copper output at around 1.68 million tonnes per year over at least the next decade, it said, despite operational changes and sector headwinds.Production will be slightly lower than it was in the past 10 years, during which it averaged 1.69 million tpy, the Chilean state-owned copper producer said in its business and development plan on Thursday May 23. Stil...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday May 24. China Taiyuan Iron & Steel (Tisco) released its June tender price for high-carbon ferro-chrome at 6,550 yuan ($947) per tonne on Friday May 24, 350 yuan per tonne lower than its May tender. Two other major Chinese stainless steel mills, Tsingshan and Baosteel, have yet to release June tende...Read More
Manganese ore prices hit an 18-month low on Friday May 24, declining for the fourth consecutive week amid increasingly bearish sentiment in China. Fastmarkets' 37% manganese ore index, fob Port Elizabeth dropped 16 cents week on week to $4.90 per dry metric tonne unit (dmtu), the lowest since December 1, 2017, when it settled at $4.43 per dmtu. Fastmarkets' 37% manganese ore index, cif T...Read More
Codelco expects to maintain current copper output at around 1.68 million tonnes per year over at least the next decade, it said, despite operational changes and sector headwinds.Production will be slightly lower than it was in the past 10 years, during which it averaged 1.69 million tpy, the Chilean state-owned copper producer said in its business and development plan on Thursday May 23. Stil...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
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