Global ferrous scrap prices continued to move down across all the major scrap markets during the week ended Friday September 13, with buyers postponing buying activity in the expectation of securing lower prices after prices fell in Turkey, turning worldwide sentiment negative. Fresh Turkey bookings continue downward price trend US prices fall on recent cargoes Taiwan, Vietnam prices down on weak...Read More
Steelmakers in Germany have settled their monthly scrap contracts for September at prices that were down by an average of ?,?25 ($28) per tonne from last month, sources told Fastmarkets on Friday September 13.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap) domestic, delivered mill Germany, was at ?,?225-235 per tonne on Friday, down by $20-25 per tonne from...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday September 13, with the price near the $6,000 per tonne resistance level and closing at its highest level since July 29, while tin's outright price fell over the afternoon.Copper futures closed at $5,974.50 per tonne in the afternoon, exceeding its 100-day moving-average at $5,925 per tonne and ap...Read More
London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid of ?29.6 billion ($36.5 billion) on September 11, stunnin...Read More
Trading activity in the seaborne coking coal market was muted on Friday September 13, with China observing a public holiday.Premium hard coking coal, fob DBCT: $148.15 per tonne, down $1.19 per tonne Premium hard coking coal, cfr Jingtang: $167.76 per tonne, unchangedHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $150.26 per tonne, unchangedLow-vol PCI, fob...Read More
Prices for austenitic grades of alloy steel scrap in the UK domestic market decreased this week, despite high nickel costs, because of low demand from stainless steel mills, sources told Fastmarkets on Friday September 13. Austenitic alloy steel scrap prices are usually closely tied to those of nickel. Indeed, since the beginning of July, austenitic steel scrap prices have tracked the strongly upw...Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday September 13, with the price near the $6,000 per tonne resistance level and closing at its highest level since July 29, while tin's outright price fell over the afternoon.Copper futures closed at $5,974.50 per tonne in the afternoon, exceeding its 100-day moving-average at $5,925 per tonne and ap...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Fastmarkets MB has corrected its copper concentrates index, which was published incorrectly on Friday September 13 due to an error.Fastmarkets' copper concentrates TC/RC index, cif Asia Pacific was published incorrectly and has now been corrected to $50.3 per tonne / 5.03 cents per lb. The rationale has been updated to reflect the correct figures. Fastmarkets MB's price book and database have...Read More
Vale's nickel processing On??a Puma plant in the northern state of Par?? will resume operations after the Brazilian Supreme Court ruled in its favor, the miner said on Thursday September 12.On??a Puma's mining activities have been halted since September 2017 as a result of several judicial decisions. Its nickel processing plant was also suspended in June this year.In both cases, the president...Read More
London Stock Exchange Group (LSEG) has rejected Hong Kong Exchanges & Clearing's (HKEX) unsolicited bid for the company and remains committed to a proposed acquisition of data provider Refinitiv, it said in a release on Friday September 13. HKEX, which owns the London Metal Exchange and its associated clearing house LME Clear, made the bid of ?29.6 billion ($36.5 billion) on September 11, stunnin...Read More
The three-month nickel price on the London Metal Exchange was lower during morning trading on Friday September 13, declining by around 2.7% against a fresh inflow of some 12,000 tonnes, while copper futures continued to trade in an uptrend.Nickel futures were trading at around $17,500 per tonne on Friday morning, which is about 2.7% lower than Thursday's closing price of $17,990 per tonne, and dow...Read More
Cold-rolled and galvanized steel prices in the United States declined over the past week, with weakening end-market demand and September's ferrous scrap settlement working in tandem to erode spot market prices.Fastmarkets' weekly price assessments for steel cold-rolled coil, fob mill US, and for steel hot-dipped galvanized (base) steel coil, fob mill US, both decreased to $37 per hundred...Read More
Indian domestic secondary billet prices rose by 300 rupees ($4) per tonne week-over-week in the seven days ended Friday September 13, on the rising costs of finished long steel products and tight supply of semi-finished materials.The price of steel billet domestic, ex-works India, assessed by Fastmarkets on September 13, was up by 300 rupees per tonne to 27,400-27,600 rupees ($385-388) per tonne f...Read More
Domestic rebar prices in Poland have moved down over the past week due to declines in ferrous scrap prices across Europe, sources told Fastmarkets on Friday September 13.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,080-2,130 zloty ($529-542) per tonne on September 13, down by 20 zloty from 2,100-2,150 zloty per tonne one week earlier.The asses...Read More
Prices for ferrous scrap imported into India moved down again this week after several deals were heard at lower prices, setting a fresh year-to-date low, sources told Fastmarkets on Friday September 13.Fastmarkets' weekly price assessment for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $262.71 per tonne on Friday, down by $15.29 per tonne from $278 per tonne one week ago.This...Read More
The inter-merchant spot market for UK light iron scrap dropped for a second consecutive week on Friday September 13, tracking weaker prices in monthly delivery settlements to consumers.Still, with major shredders needing high volumes of scrap to make their machines cost-effective, the drop in the inter-merchant light iron market has been only small, despite heavier losses in consumer delivered pri...Read More
The UK ferrous scrap market for deliveries to domestic consumers in September has settled with prices for all grades down by an average of about ?25 ($31) per tonne.Weakness in consumer demand both at home and abroad influenced the price settlements, industry sources told Fastmarkets in the week ended Friday September 13.The market showed some initial settlements down by ?15-20 per tonne, but st...Read More
Turkish steelmakers returned to the deep sea scrap market at the end of the week and prices edged up slightly as a result, sources told Fastmarkets on Friday September 13.A steel mill in the Izmir region booked a US cargo, comprising 15,000 tonnes of HMS 1&2 (80:20) at $240 per tonne, 15,000 tonnes of shredded at $245 per tonne and 2,000 tonnes of bonus at $250 per tonne cfr.The previous ...Read More
Trading activity in the seaborne coking coal market was muted on Friday September 13, with China observing a public holiday.Premium hard coking coal, fob DBCT: $148.15 per tonne, down $1.19 per tonne Premium hard coking coal, cfr Jingtang: $167.76 per tonne, unchangedHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $150.26 per tonne, unchangedLow-vol PCI, fob...Read More