Base metals prices on the London Metal Exchange were diverging on the morning of Friday May 18.The main movers were nickel, which climbed 1%, and aluminium, which dropped 0.6%. Zinc prices are down 0.3% while the rest are little changed, with copper prices at $6,869 per tonne.Volume on the LME has been below average, with 3,276 lots traded as at 06.46 am London time. This follows a mixed performan...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Global battery-grade lithium hydroxide spot price fell on Thursday May 17, influenced by the recent softer lithium carbonate markets as well as consumer expectations for lower prices. Chinese lithium carbonate prices stable Chinese lithium hydroxide spot price down on a lack of buying activity and consumer expectation for lower prices Seaborne lithium hydroxide market softened on slow d...Read More
Coated coil prices in Turkey decreased this week, with demand poor in both the local and export markets, sources told Metal Bulletin on Friday May 17.Domestic pricesOne Northern Turkish producer was offering 0.50mm hot-dipped galvanized coil (HDG) at $760-780 per tonne ex-works this week while a second producer offered similar product at $780-790 per tonne ex-works.Southern Turkish producers were...Read More
Offers of commercial-grade hot-rolled coil (HRC) for import into India have fallen by $15 per tonne to $640-645 per tonne cfr Mumbai, compared with similar material booked about two weeks ago at $655-660 per tonne cfr Mumbai.Indonesia-origin HRC was offered at $640-645 per tonne cfr Mumbai for shipment in June-July but this price has yet to be accepted, a Mumbai-based importer said on Friday May 1...Read More
Import prices for flat steel products in South America were unchanged in the third week of May due to a lack of trading activity, Metal Bulletin has heard.The market standstill reflected the difficulty buyers and exporters found in agreeing on prices, according to several sources."Some [Chinese] companies have increased their offer prices this week, but steel consumers are not willing to pay highe...Read More
Metal Bulletin reviews the major stories that have affected the steel market over the past week.Physical iron ore prices weakened on Friday May 18, in line with drops in the rebar and futures markets, although earlier increases mean the week-on-week change was minimal.The seaborne coking coal market is in stalemate with a widening gap between bids and offers. Taiwanese scrap import prices widened...Read More
Indian steelmaker JSW Steel has completed the acquisition of Italian long steel producer Acciaierie e Ferriere di Piombino (Aferpi), Italian trade union Fiom-Cgil said on Friday May 18.JSW Steel acquired the mill from Algeria's Cevital for around 6 billion Indian rupees ($88.41 million), according to media reports in India, while Italian reports suggest the deal was valued at closer to ?,?90 milli...Read More
Domestic prices for rebar in Poland have been largely unchanged over the past week despite coming under pressure from import offers, sources told Metal Bulletin on Friday May 18.Metal Bulletin's weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,250-2,290 zloty ($619-630) per tonne ex-works on May 18, narrowing upward slightly compared with 2,230-2,290 zloty per tonne ex-w...Read More
Pig iron buyers in the United States, the largest global market for the steelmaking raw material, resumed their purchasing activity after the scrap price for May had become clear in their domestic market, Metal Bulletin has heard.Metal Bulletin's weekly price assessment for US pig iron imports was $405-410 per tonne cfr on Friday May 18, narrowing upward by $5 per tonne from $400-410 per tonne cfr...Read More
The UK inter-merchant price for austenitic alloy steel scrap has risen by ?20-40 per tonne over the past week, following an increase in nickel values, sources told Metal Bulletin on Friday May 18.Metal Bulletin's weekly price assessment for inter-merchant 18/8 scrap solids in the UK was ?1,000-1,040 ($1,352-1,406) per tonne delivered on Friday, compared with ?960-1,020 per tonne on May 11."UK m...Read More
Global ferrous scrap prices headed in differing directions during the working week ended Friday May 18, with prices in the bulk sector losing ground while prices for containerized material to Taiwan pushed upward.Turkish scrap import prices slid on lackluster finished steel demand with the start of the Islamic holy month of Ramadan, while prices for exports from the United States fell in two deals...Read More
The range of prices offered for steel slab exports from Brazil narrowed this week, with producers continuing to focus on sales to clients in North America.Offers of Brazilian material were reported around the level of $570 per tonne fob, with rumors of one deal being closed at a price below this mark.But suppliers were not willing to accept any bids below the level of $565 per tonne fob, according...Read More
Indian steelmaker JSW Steel has completed the acquisition of Italian long steel producer Acciaierie e Ferriere di Piombino (Aferpi), Italian trade union Fiom-Cgil said on Friday May 18.JSW Steel acquired the mill from Algeria's Cevital for around 6 billion Indian rupees ($88.41 million), according to media reports in India, while Italian reports suggest the deal was valued at closer to ?,?90 milli...Read More
Following the market consultation, Metal Bulletin will increase the frequency of the CIS export steel billet index, fob Black Sea ports, assessment from weekly to daily starting on May 21.The change is made in response to sufficient market liquidity being observed to adjust the weekly price to a daily calculation. This alteration is designed to capture volatility within the market throughout the d...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
SHANGHAI, May 18 (SMM) – The nonferrous complex closed higher except for SHFE tin, aluminium and zinc. Nickel led the gains with a rise of 2.2%, lead grew over 1%, and copper inched up.Ferrous metals dropped across the board with coking coal leading the losses and closing 2.2% lower. Rebar fell over 1%, while coke, hot-rolled coil, and iron ore lost close to 1%.Aluminium: The SHFE 1807...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. The Canadian Dollar slipped 0.11 to U.S. 78.00 cents following release of economic news at 8:30 AM EDT. Consensus for March Retail Sales was an increase of 0.1% versus a gain of 0.4% in February. Actual was an increase of 0.6%. Consensus for April Consumer Price Index was an increase of a ye...Read More
Key data from the pricing sessions in the week ending Friday May 18.China Chinese ferro-chrome spot prices rose further, buoyed by rising chrome ore prices.Potential supply cuts to major ferro-chrome production hubs following environmental inspections. South Korea and Japan Korea FeCr market on an...Read More