Stocks of base metals stored at Shanghai Futures Exchange-approved warehouses increase in the week to Friday December 13 bar those of aluminium and zinc.The largest weak-on-week increase in deliverable stocks was in lead - they rose by 8,951 tonnes or 24.2% to 45,926 tonnes. The biggest inflow was into the Zhejiang Tianchuan warehouse in Zhejiang province...Read More
The three-month aluminium price on the London Metal Exchange was higher across morning trading on Friday December 13, with price action unaffected by a fresh inflow of some 32,975 tonnes, while nickel futures maintained gains made over the week. Aluminium's outright price on the LME was recently seen at $1,776.50 per tonne, little moved from Thursday's closing price of $1,775 per tonne. Turnover i...Read More
Broader markets are upbeat this morning, Friday December 13, because hopes are running high that a preliminary United States-China trade will be signed before new tariffs come into force on Sunday as well as following the United Kingdom's general election result that means a Brexit deal moves forward.In a post on social media platform Twitter, US President Donald Trump said: "Getting very close to...Read More
Galvanized sheet prices in the United States were unchanged in the week to Thursday December 12, while cold-rolled coil prices ticked up slightly amid decent demand ahead of the holiday season - although sources were unsure if that would continue next year.Fastmarkets' price assessment for steel cold-rolled coil, fob mill US was $38 per hundredweight ($760 per short ton) on December 12, up by...Read More
Hot-rolled coil prices were steady on Friday December 13, but a new increase is looming over a market that some already describe as "frothy."Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $28.22 per hundredweight ($564.40 per ton) on Friday December 13, unchanged from the day prior but up 0.5% from $28.08 per...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), continued to increase in the week to Friday December 13 amid strong demand, sources told Fastmarkets.Market participants attributed the higher steel prices to the rise in raw materials and hot-rolled coil prices.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin,...Read More
Metinvest sees stable growth in global steel consumption and potential consolidation in the steel industry driving the profit pool from 2020, with a shift in distribution away from iron ore miners and towards steelmakers, according to sales director Dmitry Nikolayenko."This year has been very interesting from the point of view of profit pool distribution. There was a combination of factors that pu...Read More
The Polish domestic rebar price started to move up in the week to Friday December 13 due to anticipated scrap price increase in the country, sources told Fastmarkets. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was $292.09 per tonne on December 12, up by 15.33% since the middle of the month when steelmakers last...Read More
Turkish flat steel producers increased their prices again during the week to Friday December 13 in response to strong demand because of low stocks, while raw material prices, especially those for scrap, have continued to increase. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), US origin, cfr Turkey was $297.06 per tonne on December 12, rising from $283.95 per tonne on December...Read More
Turkish steel producers have continued to make deep-sea scrap purchases on Friday December 13, with prices climbing higher, sources said.A steel mill in the Izmir region booked a Baltic Sea cargo, comprising 24,000 tonnes of HMS 1&2 (80:20) at $299.50 per tonne, 3,500 tonnes of bonus at $309.50 per tonne and 2,500 tonnes of busheling at $314.50 per tonne cfr.A steel mill in the Marmara region book...Read More
The price of ferrous scrap imported into India moved up this week on higher offers but sentiment is turning negative, sources told Fastmarkets on Friday December 13. Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $290.75 per tonne on Friday, up from $286.46 per tonne a week earlier. Offers ranged from $285 to $300 per tonne this week, compared with $280 to $290 per ton...Read More
Export pig iron prices from the Commonwealth of Independent States have moved higher during the week ended Thursday December 12, following the uptrend in the scrap market, source told Fastmarkets. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea was $310-315 per tonne on December 12, up by $5 per tonne week-on-week."Prices for scrap [a relative...Read More
Seaborne iron ore prices rose moderately on Friday December 13 amid gains in the derivatives market and the persistent decline in port stockpiles in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.63 per tonne, up $0.61 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.72 per tonne, up $0.61 per tonne.62% Fe low-alumina fines, cfr Qingdao: $94.35 per tonne, up $0.72 per tonne...Read More
Seaborne coking coal prices were largely stable on Friday December 13. Market sources reported a transaction involving a cargo of pulverized coal injection (PCI) this week.Fastmarkets indicesPremium hard coking coal, fob DBCT: $136.58 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $147.70 per tonne, down $0.26 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard cokin...Read More
China's hot-rolled coil exporters raised their offers on Friday December 13 amid a relatively strong domestic market, though prices in the later did not rise further during the day.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($555-557) per tonne, unchangedNorthern China (Tangshan): 3,640-3,650 yuan per tonne, widening downward by 10 yuan per tonneA Shanghai-based trader said trading activit...Read More
Southwestern China's Kunming Intermediate People's Court is auctioning all of the indium stocks once held by the defunct Fanya Metal Exchange, according to an official notice published via the Alibaba judicial online platform on Friday December 13. The auction for 3,609.5 tonnes of indium is scheduled to begin at 10am Shanghai time on December 29 and will end at the same time on the following day....Read More
China's rebar prices moved down in both the domestic and export markets on Friday December 13 amid inactivity. Eastern China (Shanghai): 3,870-3,900 yuan ($555-559) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,570-3,590 yuan per tonne, down 10 yuan per tonneStockists with a lot of inventory lowered their offers to stimulate sales in anticipation of prices falling even further.But b...Read More
An overview of the minor metals markets and their latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
The price of stainless steel flat products in Europe was unchanged this week but lower prices are expected in light of poor demand and high stock levels, sources told Fastmarkets on Friday December 13. Fastmarkets' weekly price assessment for stainless steel cold-rolled sheet, 2mm, grade 304, transaction domestic, delivered North Europe, was ?,?2,130-2,150 ($2,372-2,394) per tonne...Read More