The tight Chinese domestic tin market may loosen after China's Yunnan Tin, the world's largest tin producer, resumed production in early August after its annual maintenance, sources said.Although a tin shortage remains in China, sources expect tightness to alleviate in the near future.Sources estimate that Yunnan Tin's maintenance reduced tin output by approximately 1,500-2,000 tonnes, althou...Read More
Hot-rolled coil prices in the United States slipped after touching $94 per hundredweight ($1,880 per short ton) for the second time ever on Thursday August 5, but remained above $93 per cwt for an eighth consecutive business day while buyers grumbled about the lack of spot material.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $93.46 per cwt ($1,869.20 per ton) on F...Read More
Deliverable stocks of base metals diverged in the week to Friday August 6, with zinc leading the growth and tin topping the decline.Zinc inventories totaled 39,982 tonnes in the week to August 6, up by 3,758 tonnes (10.4%) from the previous week. R&S Logistics warehouse in Shanghai reported the largest inflow, with volumes rising by 1,490 tonnes (68.3%) week on week to 3,671 tonnes, according to t...Read More
Chinese copper smelter Guangxi Nanguo has brought forward its maintenance schedule because the local government has stepped up its measures to restrict power consumption by industrial facilities, Fastmarkets has learnt.The private smelter, which has capacity for 300,000 tonnes per year, will be shut for 45 days across August-September and therefore will not be procuring extra copper raw material o...Read More
Domestic steel wire rod prices in Poland were stable or fell only slightly over the past seven days with trading activity weakening, following the usual seasonal pattern, Fastmarkets heard on Friday August 6.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland, was 4,100-4,250 zloty ($1,067-1,106) per tonne on August 6, widening from 4,200-4,250 zlo...Read More
The export market for pig iron from the Commonwealth of Independent States dropped during the week to Thursday August 5 on oversupply and short lead times. Fastmarkets assessed the price for high-manganese pig iron, export, fob main port Black Sea, CIS at $550-580 per tonne on Thursday, down from $570-590 per tonne the previous week.The market level in the United States, which is the main pig...Read More
Fastmarkets has identified a necessary clarification to the nickel sulfate specification with regard to delivery time.The delivery time for Fastmarkets' nickel sulfate ex-works China price assessment is seven days, which was not reflected in the specifications when the price was launched in July 2018.Fastmarkets confirms that the specifications read as follows, with the clarification in italics:MB...Read More
Major steelmakers in China and Japan lowered their domestic scrap buy prices on Friday August 6 amid reduced intake volumes, sources told Fastmarkets.Large Chinese steelmakers drop domestic scrap purchase pricesJapan's Tokyo Steel reduces buy prices for most grades at most factoriesSouth Korea closes deals at lower prices for Japanese scrap.ChinaTwo major mills in Jiangsu province lowered their do...Read More
The import pig iron market in the United States declined during the week ended Friday August 6 due to a new booking from Brazil.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $585-600 per tonne on Friday, down from $620-635 per tonne a week earlier.One large buyer purchased a cargo from the south of Brazil at $585-587 per tonne cfr for...Read More
Indian hot-rolled coil export prices rose by $25-40 per tonne in the week to Friday August 6 due to mills expanding their markets to the Gulf region, North Africa, Central and South America.Fastmarkets assessed steel hot-rolled coil (commodity) export, fob main port India at $920-950 per tonne on Friday, an increase of $25-40 per tonne from $895-910 per tonne last week."Indian mills are...Read More
German industrial group Thyssenkrupp has agreed the sale of its Infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.The deal was expected to be closed later this year but will be subject to approval from merger control authorities as well as Thyssenkrupp's own supervisory board. The financial details of the...Read More
Turkey's domestic hot-rolled coil prices were largely stable in the week to Friday August 6 despite limited trading activity, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $1,010-1,050 per tonne on Friday, widening downward by $10 from $1,020-1,050 per tonne on July 30.Turkish HRC producers were offering material at $1,020-1,...Read More
An overview of the aerospace materials markets and the latest price moves.Jessica Long, Ruby Liu and Carrie...Read More
Steel scrap prices in the key global markets moved down over the week to Friday August 6 with demand for material remaining tepid.Turkish mills make fresh bookings at lower pricesUS export prices consistent in recent bookingsVietnam scrap prices down on weak demandChinese import prices fall alongside domestic pricingTaiwanese scrap prices continue downtrend on poor demandIndian scrap offers withdr...Read More
(Updates prices, recasts) Aug 6 (Reuters) - Copper prices fell on Friday as solid U.S.jobs data pushed the dollar sharply higher, making metals moreexpensive for buyers with other currencies.Copper had been trading higher after news that a union atthe world's biggest copper mine, Chile's Escondida, told workersto prepare for a strike that would reduce supply.But by 1605 GMT, benchmark copper on th...Read More
Here are five Fastmarkets stories you might have missed on Thursday August 5 that are worth another look.Brazil has joined other major commodity producers in South America, such as Chile and Peru, in a debate about whether to increase mining royalties because of soaring prices - and it can be...Read More
Brazilian aluminium association Abal has appointed a woman as executive president for the first time, with Janaina Donas taking over the role previously held by Milton Rego after a seven-month recruitment process, the group said on Thursday August 5.Donas most recently acted as an external relations and new business director for Latin America in Peru and the United States for US-based gold-copper-...Read More
Chinese exporters raised their offers for ammonium paratungstate (APT) this week amid concerns about higher replacement costs and currency fluctuations owing to shipment delays.Fastmarkets' weekly price assessment for tungsten APT 88.5%WO3 min, fob main ports China was $302-308 per metric tonne unit (mtu) on Wednesday August 4, up by $5-7 per mtu (2%) from $295-303 per mtu on July 28. Deals were r...Read More
There was a strong rise in the European market for low-carbon ferro-chrome in the week ended Tuesday August 3, in response to tight supply and the imposition of export taxes in Russia and China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $2.17-2.51 per lb Cr on August 3, a rise of 2.4% from $2.10-2.47 per lb Cr one week earlier."Offers prices a...Read More
Brazilian imports of primary unalloyed aluminium rose by 142% year on year in July, putting a newly approved duty-free quota extension under pressure, according to data published by the ministry economy on Wednesday August 4.The country imported 37,181 tonnes of primary aluminium in July, up significantly from 15,376 tonnes a year before.During the January-July period, imports totaled 26...Read More