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

The closure of some induction furnaces in China in 2016 followed by the government's crackdown on all unlicensed IFs in mid-2017 freed up some scrap volumes, albeit arguably of low-quality material. Chinese domestic scrap prices came under pressure from the increased supply, which prevented them from keeping pace with the rise in steel and other raw material markets in the fourth quarter of 2016;...Read More

Indian domestic secondary billet prices have increased by at least 500 rupees ($7) per tonne over the past week, mainly on rising prices for finished products such as rebar, Fastmarkets heard on Friday February 15.The Indian domestic secondary billet price assessed by Fastmarkets on February 15 was 34,300-34,500 rupees ($483-486) per tonne ex-mill, up by 500 rupees per tonne compared with 33,800-3...Read More

Domestic prices for ferrous scrap in Italy moved up in February following the positive trend settled in the international scrap markets, sources told Fastmarkets on Friday February 15.Fastmarkets' monthly price assessment for domestic grade E3 scrap in Italy was ?,?270-290 ($306-327) per tonne delivered on Friday February 15, compared with ?,?260-280 per tonne delivered in January."The upward tren...Read More

Section 232 tariffs on aluminium and steel raised $3.6 billion in their first nine months, and revenues for the last two months are likely to push that figure up by around another $1 billion, US government data shows.That figure would be enough to cover the shortfall in funding sought by United States President Donald Trump for border security. In other words, aluminium and steel tariffs could fun...Read More

An overview of the battery raw materials markets and their price moves from the past week. Read More

Base metals prices on the London Metal Exchange were higher across the board at the close of trading on Friday February 15, with market sentiment continuing to improve amid US-China trade talks, while participants continue to short-cover after last week's price rally. Climbing furthest over the afternoon, zinc futures closed above $2,600 per tonne and continued to trade in a volatile trend after s...Read More

Comex copper prices turned positive on Friday morning in the United States with improving trade talk optimism boosting the entire base metals space.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rebounded 0.80 cents to $2.7820 per lb."We expect the global refined copper market to become tighter...Read More

The London Metal Exchange's linked load-in/load-out (LILO) warehouse rule has not so far been activated at Istim's warehouses in Port Klang despite a large queue building at the warehouse, sources confirmed to Fastmarkets MB. An LME queue report published on February 11 stated there was a 118-day queue to withdraw aluminium at Istim warehouses in Port Klang, Malaysia, at the end of January. This c...Read More

Base metals stocks on Shanghai Futures Exchange were broadly higher as of Friday February 15 due to the week-long Lunar New Year holiday, with zinc leading the increase although nickel stocks dropped because of tight supply.Deliverable zinc stocks at SHFE-approved warehouses have risen by 39,516 tonnes or 84.2% since February 1 to 86,447 tonnes as of February 15. Zinc stocks also rose for the sixt...Read More

More copper concentrates from the Democratic Republic of Congo (DRC) could be diverted after ERG suspended its Chambishi copper smelting facility in Zambia, multiple market sources said. ERG told Fastmarkets on Thursday February 14 of its decision to halt the 55,000 tonne-per-year Chambishi copper operation following the implementation of the 5% import duty on cobalt and copper concentrates i...Read More

Base metals prices on the London Metal Exchange were predominantly higher during morning trading on Friday February 15, gathering support from a broadly positive tone emerging from recent US-China trade talks.Climbing furthest over the morning, lead's three-month price is moving closer toward the $2,100 per tonne level after reaching a low of $2,011 per tonne on February 13. The metal's futures pr...Read More

Brazil's Usiminas believes its steel prices could increase by 4-5% until the second quarter of 2019 given the global uptrend in place, the company's commercial vice president, Miguel Homes, said during a conference call on Friday February 15.The steelmaker is assessing the landscape before taking any steps regarding new prices. Usiminas' internal target is to maintain domestic prices no more than...Read More

The number of new passenger car registrations in the EU decreased by 4.62% year-on-year in January 2019, making it the fifth consecutive month of decline, the European Automotive Manufacturers Assn (ACEA) said on Friday February 15.New car sales in Europe totaled 1,195,665 units in January 2019, compared with 1,253,596 vehicles sold in the corresponding month of 2018."The European passenger car ma...Read More

Coated-steel prices in Turkey continued to increase in the week ending Friday February 15, despite demand being weak in both the domestic and export markets.High offer prices were stifling export activity, sources told Fastmarkets.Steel prices have been increasing globally because of rises in raw materials costs, which have been pushed up due to supply concerns after Vale'...Read More

Steel coil prices in Turkey increased again this week because of the rising cost of raw materials, alongside other global price increases.Local demand was also weaker than it was seven days earlier, sources told Fastmarkets on Friday February 15.Buyers placed orders last week because they had low stock levels, market participants said. However, they added that end-user demand was still not strong...Read More

Merchant slab output at Ukraininan steelmaker Metinvest in the December-February period was below the production target due to repairs at the blast furnaces of Azovstal Iron & Steel Works and Illych Iron & Steel works, the company told Fastmarkets."The company's merchant slab output was 190,000 tonnes below the target because blast furnace repairs were rescheduled for these months," a company sour...Read More

Export prices for pig iron from Brazil increased further during the week ended Friday February 15 on higher iron ore costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region jumped to $340 per tonne fob on February 15 from $316-325 per tonne fob a week earlier.A deal to the United States was done during the week at $34...Read More

German steelmakers have settled their monthly scrap contracts for February with an average price increase of ?,?15-20 ($17-23) per tonne, reflecting the rise in the international market, sources told Fastmarkets on Friday February 15.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was ?,?265-285 ($299-321) per tonne delivered on February 15, up from ?,?250-265 per tonn...Read More

Global scrap prices were likely to fall soon in the wake of a recent surge across many markets, with concern among market participants about whether higher priced deals were sustainable, Fastmarkets heard during the week ended Friday February 15.Turkish mills stepped back from purchasing deep sea cargoes this week, with prices remaining stable throughout the week as a result.This withdrawal knocke...Read More