The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
The monthly European alloy steel surcharges have moved downward for January, driven by lower costs for nickel, Fastmarkets heard on Friday January 3.Fastmarkets' calculation of the stainless steel cold-rolled sheet, 2mm, grade 304, alloy surcharge, domestic, Europe, was ?,?1,418-1,437 ($1,587-1,608) per tonne for January, down by ?,?161-171 per tonne...Read More
An already-volatile nickel market will continue to face uncertainty in 2020 while demand wanes and stocks rise amid slowed growth expectations from both the stainless steel and electric battery sectors, market participants predicted.It is widely acknowledged that nickel demand will be driven by the stainless steel and electric vehicle (EV) battery markets, but many analysts expect stainless steel...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
Seaborne coking coal prices were resilient on Friday January 3, with the cfr China premium hard coking coal index passing $150 per tonne and a premium mid-vol cargo changing hands at just under $140 per tonne fob Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $140.06 per tonne, down $0.63 per tonnePremium hard coking coal, cfr Jingtang: $151.85 per tonne, up $3.08 per t...Read More
The three-month nickel price on the London Metal Exchange was lower across morning trading on Friday January 3, with price action falling against a fresh inflow of just over 3,000 tonnes, while tin futures similarly lost ground. Nickel's outright price on the LME was recently seen at $13,840 per tonne, down from an intra-morning high of $14,280 per tonne. Turnover was moderately high in nickel, wi...Read More
Indian steel mills have increased their domestic prices for hot-rolled coil for sales in January 2020 by 1,500 rupees ($21) per tonne on the back of rising international prices for the commodity.The price of steel HRC, domestic, ex-works India, was assessed by Fastmarkets on January 3 at 35,000-35,500 rupees ($491-498) per tonne. This was up from the previous assessment of 33,500-34,000 rupees per...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 3. China Seaborne prices of both grades of manganese ore in China strengthened further after some sellers successfully increased their offer prices. Many Chinese buyers accepted higher offer prices out of fear of missing out on relatively limited availability of cargoes available...Read More
Shanghai copper premiums have dropped to their lowest level in almost three years on slack spot demand for imported cathodes ahead of Lunar New Year. Fastmarkets' copper grade A cathode premium cif Shanghai stood at $35-48 per tonne on Friday January 3, down slightly from $38-50 per tonne a day ago. The benchmark premium, which is often viewed as an indicator of appetite for imported refined...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The three-month nickel price on the London Metal Exchange was lower across morning trading on Friday January 3, with price action falling against a fresh inflow of just over 3,000 tonnes, while tin futures similarly lost ground. Nickel's outright price on the LME was recently seen at $13,840 per tonne, down from an intra-morning high of $14,280 per tonne. Turnover was moderately high in nickel, wi...Read More
With the exception of nickel, base metals stocks in Shanghai Futures Exchange-approved warehouses rose in the week to Friday January 3.Copper registered the joint largest week-on-week rise in deliverable stocks, with an increase of 17,670 tonnes - or 14.3% - to 141,317 tonnes.SIPG Logistics in Shanghai reported the largest inflow of 8,197 tonnes, bringing stocks there up to 48,065 tonnes....Read More
An already-volatile nickel market will continue to face uncertainty in 2020 while demand wanes and stocks rise amid slowed growth expectations from both the stainless steel and electric battery sectors, market participants predicted.It is widely acknowledged that nickel demand will be driven by the stainless steel and electric vehicle (EV) battery markets, but many analysts expect stainless steel...Read More
With the exception of tin and zinc that were little changed, base metals prices on the Shanghai Futures Exchange were down at the close of the morning trading session on Friday January 3.Nickel was the worst performer of the complex, with its most-traded March contract sliding to 109,310 yuan ($15,688) per tonne, down by 2,000 yuan per tonne - or 1.8% - from Thursday's close of 111,310 yuan per to...Read More
The Polish domestic rebar price was unchanged in the week to Friday January 3 due to a lack of market activity after holidays across Europe, market sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, ex-works Poland remained at 2,000-2,030 zloty ($527-534) per tonne on Friday.The...Read More
The domestic price for hot-rolled coil in Northern Europe was largely stable on Friday January 3, due to limited trading activity after holidays in the European Union, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, exw Northern Europe inched up to ?,?439.38 ($489.38) per tonne on January 3, compared with ?,?439.17 per tonne a day earlier.Read More
Fastmarkets takes a look at what to watch out for in the hot-rolled coil market in the United States in 2020 after another year of volatility and surprises in 2019.After a generally profitable 2018 for the US steel industry, 2019 proved more challenging, with major domestic steel producers posting significant year-on-year losses amid atypical buying and holding patterns."I think 2019 is a hangover...Read More
Flat steel trading was weak again in Turkey during the week ended Friday January 3, with prices remaining stable.Announcements of new import offer prices were expected next week.HRC exportsFastmarkets' weekly price assessment for steel hot-rolled coil, export, fob main port Turkey, was $500-510 per tonne on January 3, unchanged since December 2.Turkish HRC was heard to be on offer...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil, or pre-painted galvanized iron (PPGI), were stable in the week to Friday January 3, with demand soft, sources told Fastmarkets.Demand was reduced because of year-end holidays, sources said.Domestic pricesLocal producers were offering 0.5mm HDG at $640-680 per tonne ex-works.Fastmarkets' weekly price assessment for steel...Read More
Prices in Southeast Asia's steel billet market declined during the week to Friday January 3 because of bearish market sentiment for ferrous scrap prices in the bellwether Turkish market. "Billet prices are likely to face pressure from declining ferrous scrap prices in Turkey because the Turkish mills have not been able to achieve higher prices for finished long steel products," a trader in th...Read More