Alloy steel scrap prices followed divergent trajectories this week in Europe and the UK as a result of differing market fundamentals. In Europe, 18/8 scrap solids prices fell amid poor demand, while grade-316 solids prices edged higher because of very tight supplies. In both cased, however, market activity has been very slow and price movements were only marginal. Fastmark...Read More
Ferrous scrap prices in most parts of the world were firm in the week ending on Friday November 2, with healthy demand in the key import market of Turkey supporting global prices.But prices in Asia weakened because steel mills in Vietnam and Taiwan held back from purchasing ferrous scrap due to fierce price competition in the downstream billet and long steel markets.Turkey importsTurkish steel mil...Read More
Prices for light iron scrap in the United Kingdom moved up by ?5 per tonne this week, due to material tightness and an increase in Turkish scrap prices, sources told Fastmarkets MB on Friday November 2.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis moved up by ?5 per tonne to ?90-120 ($116-155) per tonne on Friday November 2, from ?85-115 per tonn...Read More
Export prices for steel billet from Latin America rose in the week ended Friday November 2 following a stabilization in the region's currencies, compared with the US dollar, and of import prices around the globe.But producers and traders were maintaining some flexibility in their pricing to take account of freight costs to their clients, sources said.Fastmarkets' weekly assessment of the Latin Ame...Read More
Slab export prices in Brazil remained unchanged this week, with steelmakers still working out their offers for January shipments.Fastmarkets MB's weekly export price assessment for slab in Brazil was $505-515 per tonne fob on Friday November 2, the same as a week earlier.The past week has...Read More
The latest metal markets news and price moves to start the North American day on Friday November 2. Base metals prices on the London Metal Exchange were all higher during morning trading on Friday November 2, after the largest single-day inflow in LME copper stocks since February 2004.The three-month copper price climbed more than 1.5% to more than $6,200 per tonne after around 47,700 to...Read More
European transaction prices for grade-304 cold-rolled (CR) stainless steel sheets decreased further this week with competition between European and Asian material continuing.Fastmarkets' weekly price assessment for the material fell to ?,?2,180-2,240 ($2,480-2,549) per tonne delivered on Friday November 2, down by $20-60 per tonne.https://www.metalbulletin.com/My-price-book.html?price=43619Meanwhi...Read More
Key data from the Tuesday October 30 pricing session in Shanghai. Key drivers - Battery demand weakened slightly in the Chinese market over October, and it sent ripples into battery raw materials, including nickel briquette. - Both duty-free and duty-paid nickel briquette is abundant in the Chinese domestic market. - Nickel briquette has also been affected by weak demand from the stainless steel s...Read More
The latest metal markets news and price moves to start the North American day on Friday November 2. Base metals prices on the London Metal Exchange were all higher during morning trading on Friday November 2, after the largest single-day inflow in LME copper stocks since February 2004.The three-month copper price climbed more than 1.5% to more than $6,200 per tonne after around 47,700 to...Read More
ArcelorMittal received a binding offer from international metals group Liberty House for the sale of finishing lines in Dudelange, Luxembourg, and Li??ge, Belgium, ArcelorMittal said on Friday November 2.The Dudelange site has capacity of 970,000 tonnes per year of hot-dipped galvanized flat steel products, according to Fastmarkets' company database.The finishing operations at ArcelorMittal Li??ge...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Brazilian domestic rebar prices went up for a second month in November with producers fully implementing a rise of around 8.00% that was announced in September.Import competition, on the other hand, could become a problem if foreign exchange and international price movements continue to favor shipments from abroad, sources said.Fastmarkets' monthly assessment of domestic rebar prices in Brazil was...Read More
Export prices for steel billet from Latin America rose in the week ended Friday November 2 following a stabilization in the region's currencies, compared with the US dollar, and of import prices around the globe.But producers and traders were maintaining some flexibility in their pricing to take account of freight costs to their clients, sources said.Fastmarkets' weekly assessment of the Latin Ame...Read More
Key data for the pricing session for the week ending Friday November 2.China Domestic ferro-chrome spot prices dropped as the influence of lower tender prices permeated into the market.UG2 chrome ore prices fell with buyers remaining cautious in expectation of lower prices in the near future.A...Read More
The latest metal markets news and price moves to start the North American day on Friday November 2. Base metals prices on the London Metal Exchange were all higher during morning trading on Friday November 2, after the largest single-day inflow in LME copper stocks since February 2004.The three-month copper price climbed more than 1.5% to more than $6,200 per tonne after around 47,700 to...Read More
Good morning from Fastmarkets MB's offices in Asia, bringing the latest news and pricing stories on Friday November 2. Base metals prices on the Shanghai Futures Exchange were largely supported by positive sentiment during Asian morning trading, after the Chinese authorities pledged preemptive and prompt actions on...Read More
The latest news and price moves to start the Asian day on Friday November 2.Comex copper prices in New York, like most base metals on the London Metal Exchange, mostly recovered on Thursday November 1, with a weaker dollar providing support to the complex. Read more in our live futures report.Here are how prices looked at the close of trading:A 10-year low in LME zinc stock volumes...Read More
Metal Bulletin reviews the major stories that have affected the steel market during the week ended November 2.Raw Materials Xcoal Energy & Resources has exported the first cargo of Baralaba low-vol pulverized coal injection from the Baralaba North mine in Queensland, Australia.BHP is counting on India and China to drive demand for steelmaking raw materials in the year ahead, and expects the struct...Read More
Fastmarkets rounds up some of the key news and price moves across the global metals markets this week.Base metalsA massive backwardation on copper forward price spreads on the London Metal Exchange has collapsed after market tightness eased thanks to delivery of 44,950 tonnes of metal into exchange-listed warehouses.Brazilian multi-metals producer Nexa Resources has maintained its production and s...Read More
If Brexit - the departure of the United Kingdom from the European Union on March 29, 2019 - isn't on your radar, it should be. With the annual London Metal Exchange Week now in full swing, the exchange, its members and their customers need to have contingency plans in place if they are expecting to be affected in any way by Brexit. And as with anything political, an element of brinkmanship will na...Read More