The following Fastmarkets non-ferrous European free market scrap prices changed on Friday July 26:Aluminium scrapFloated frag, delivered consumer Europe, ?,?/tonne: ?,?970-1,000 per tonne...Read More
Chinese scrap buyers are readying to apply for additional import quotas for the fourth quarter from early August, Fastmarkets has learned. China implemented a quota system in July this year to restrict inflow of metal scrap, including scrap copper, aluminium, ferrous and paper. This will be the third round of scrap import quotas issued, with the earlier two rounds totaling 365,429 tonnes of copper...Read More
Russian aluminium producer Rusal reported a more than 20% increase in sales in the second quarter of 2019 compared with the previous quarter on Friday July 26.The company reported sales of more than 1 million tonnes of aluminium in the second quarter, driven by its partial sell-off of its surplus primary aluminium inventory that had accumulated after Rusal was sanctioned by the United States' gove...Read More
The London Metal Exchange's proposed reform of its queue-based rent capping (QBRC) rule could provide support for European aluminium premiums. A consultation process was launched by the LME on July 25 proposing significant reform to its warehousing system. The consultation is open until September 12, 2019. One of the reforms included in the proposal is relaxing QBRC to 80 days, from the current 50...Read More
Prices for steel sheet products in the United States rose during the week ended Thursday July 25 after mills kicked off their third $40-per-ton ($2-per-hundredweight) price increase in a month on Monday July 22.Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US, was at $36.50 per cwt ($730 per ton) on July 25, up by $1 from one week earlier. Fastmarkets assessed the steel...Read More
Brazil plans to ask the US government to alleviate Section 232 measures against its semi-finished and finished steel products, according to the local steel association, A??o Brasil.The association plans to ask for the removal of Section 232 quotas against imports of slab and an increase in annual limits for finished steel."It is now the moment to ask for a revision of Section 232 measures [against...Read More
Brazilian steelmaker Usiminas expects the realized prices for its domestic flat-rolled steel products to increase by 2-3% quarter on quarter on July-September 2019, chief financial officer Alberto Ono said in a conference call on Friday July 26.The company and its competitors have been finding it difficult to readjust prices in the domestic market because steel demand has been persistently below e...Read More
Brazilian distributors of flat-rolled steel saw their sales volumes increase by 21.90% in June, compared with the corresponding month in 2018, the association for this sector, Inda, said on Friday July 26.Sales amounted to 247,500 tonnes in June, up from 203,000 tonnes a year before, Inda's data showed. Volumes, however, were 8% lower than the 269,100 tonnes sold in May 2019.The June figures were...Read More
The inter-merchant spot market for UK light iron has been unchanged over the week to Friday July 26, extending a steady trend for the fifth consecutive week while being supported on limited volumes of material made available to major processors, sources told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, inter-merchant, was ?80-100 ($100-125) per t...Read More
Global ferrous scrap prices moved down during the week ended Friday July 26, because of lower priced deals, weak demand and high inventories. Turkish import prices down on fresh deals US export prices down on recent deals Asian import prices down on high inventories Indian prices continue to fall in weak market.TurkeyTurkish steel producers made four cargo purchases this week for August shipments....Read More
Turkish steel producers booked two new cargoes while the week came to an end with prices remaining largely stable, sources told Fastmarkets on Friday July 26.News of both cargoes only emerged on July 26 - both were reportedly sold yesterday, sources told Fastmarkets. A steel mill in the Iskenderun booked a US-origin cargo comprising 11,000-15,000 tonnes of HMS 1&2 (80:20) at $294 per tonne, 5,000-...Read More
The price of shredded ferrous scrap imported into India continued to fall this week due to a continuing lack of demand, sources told Fastmarkets on Friday July 26.Fastmarkets' weekly price for steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $311.50 per tonne on July 26, down from $314.23 per tonne on July 19.Offer prices for shredded scrap moved down again this week to $305-320 p...Read More
Iron ore prices continued to rebound on Friday July 26 amid rumors that China could be less strict with its steelmaking restrictions next winter.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $118.31 per tonne, up by $1.31 per tonne.Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $118.23 per tonne, up by $1.31 per tonne.Fastmarkets' index for iron ore 62% Fe lo...Read More
China's hot-rolled coil prices moved up slightly in both the domestic and export markets on Friday July 26, with market participants expecting further restrictions on output in August.. DomesticEastern China (Shanghai): 3,850-3,870 yuan ($560-563) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10 yuan per tonneMills in Tangshan, the country's stee...Read More
Aluminium inventories held in Shanghai Futures Exchange-approved warehouses fell 6% week on week, as of Friday July 26, on better-than-expected downstream demand and optimism over the upcoming US-China trade talks scheduled for next week.Deliverable aluminium stocks at SHFE-approved warehouse dropped 25,622 tonnes to 396,400 tonnes in the week to July 26. The largest aluminium decline over the wee...Read More
Nickel's three-month price on the London Metal Exchange was the standout performer during morning trading on Friday July 26, gaining some $200 per tonne while the rest of the complex consolidated lower. The metal's outright price fell below the $14,000-per-tonne threshold briefly on Wednesday, before closing above the mark amid moderately low turnover.Similarly, volumes traded across the complex r...Read More
With little changed in the big picture, markets continue to oscillate while they consolidate - US and European equity indices were lower on Thursday July 25 and most Asian equities were weaker this morning.London Metal Exchange lead price remains directional, other base metals are working sideways.US second-quarter GDP data out on Friday likely to set the tone.Base metalsVolume on the LME remains...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday July 26:Minor metalsBismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.75-2.90 per lb from $2.85-3.00Bismuth 99.99% Bi min, in-whs China, yuan/tonne: 41,500-42,500 yuan per tonne from 41,000-42,000 yuanChromium alumino-thermic 99% min, in-whs Rotterdam, $/tonne: $7,200-7,500 from $7,350-7,600Cobalt alloy...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More