Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told Fastmarkets this week. Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told...Read More
The European Commission (EC) should remove its 5% import quota increase as it makes safeguard measures ineffective and puts jobs in the EU steel segment at risk, the European steel association (Eurofer) said on July 3."We call on the EC to heed our call and those of member states that have already expressed concerns about the rise - and to respond by undoing this out-of-step expansion before it fu...Read More
Turkish authorities are considering whether to launch a trade defense case against imports of hot-rolled coil (HRC) from the EU, market sources have told Fastmarkets.European mills have increased their HRC export volumes recently, particularly to Turkey, due to the weak demand in their home markets."The start of an anti-dumping case against EU-origin HRC will entirely depend on the attitude of the...Read More
Base metals other than nickel closer lower on the London Metal Exchange on Friday July 5 in thin volumes after the release of weak macroeconomic data from the United States.Zinc was one of the busiest - more than 10,000 lots traded by the close of trading - because of swing in its cash/three-month spread into a slim $3-per-tonne contango from a $9.50 per tonne earlier in the day.The cash/three-mon...Read More
Alcoa has signed a conditional share purchase agreement with Swiss private equity firm Parter Capital Group for the firm to acquire Alcoa's La Coru??a and Avil?(C)s smelters in Spain, the aluminium producer said on Friday July 5. Alcoa reached an agreement with the workers' representatives relating to the transaction of the two smelters, which were curtailed in February. The company said in the st...Read More
Lead inventory on the Shanghai Futures Exchange increased by 4% week on week as of Friday July 5 amid weak domestic consumption in China. Deliverable lead stocks at SHFE-approved warehouses rose by 1,226 tonnes to 31,982 tonnes in the week to July 5. The largest inflow of lead this week was registered at Zhongchu Wuxi in Jiangsu province, with 21,042 tonnes of the metal entering its warehouse. The...Read More
Alcoa has signed a conditional share purchase agreement with Swiss private equity firm Parter Capital Group for the firm to acquire Alcoa's La Coru??a and Avil?(C)s smelters in Spain, the aluminium producer said on Friday July 5. Alcoa reached an agreement with the workers' representatives relating to the transaction of the two smelters, which were curtailed in February. The company said in the st...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
Ferrous scrap prices went up in almost all of the major markets during the working week from Monday July 1 to Friday July 5, following the rebound in Turkish prices. Turkish import prices continued to rise with August shipment bookings A US scrap sale to Turkey raised sentiment in the export and domestic markets Mixed signals in the Asian scrap market Shredded scrap prices moved up in India despit...Read More
The UK and European alloy steel scrap markets were very subdued this week, with prices remaining stable, sources told Fastmarkets on Friday June 5.The markets have entered their usual summer slowdown, which traditionally spans July and August. But the downturn in activity could be more pronounced this year given that it started earlier than usual."It seems that each year [the summer slowdown] star...Read More
The UK light iron inter-merchant spot market remained unchanged for the second consecutive week as negotiations between suppliers and consumers for monthly delivery settlements continued, sources told Fastmarkets on Friday July 5.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?80-100 ($101-126) per tonne on July 5. Some sources said the...Read More
Market participants seem to be waiting for the next development to provide direction and that is likely to come from the US employment report due later on Friday July 5. So far this week equities and bonds have been rallying on the back of expectations for looser monetary policy, while the base metals have mainly been on a back foot in line with weak economic data.Gold prices remain elevated highl...Read More
China's lithium market remained sluggish this week, which market sources attributed to the conclusion of the transition period for the new energy vehicles (NEV) subsidy and forecasts of declining demand for lithium in the short term. The end of the transition period for the 2019 NEV subsidy has hit sentiment for lithium compound demand in the short term. Battery-grade lithium carbonate price...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range, exw domestic China, yuan/tonne. Fastma...Read More
Turkish prices for hot-dipped galvanized coil (HDG) decreased over the week ended Friday July 5, with demand reported to be weak in both the local and export markets.Export demand had initially improved after the United States decided on May 17 to reduce its tariff on Turkish steel imports to 25% from 50%, but then declined again because of Turkish producers' high prices.Domestic pricesDemand in t...Read More
Prices for hot-rolled coil (HRC) in Turkey were mostly unchanged over the past week while the summer slowdown and a reduction in end-user consumption continued, sources told Fastmarkets on Friday July 5.Domestic pricesFastmarkets' weekly price assessment for steel HRC domestic, exw Turkey, widened upward to $500-520 per tonne ex-works on Friday, compared with $500-510 per tonne ex-works a week ear...Read More
Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told Fastmarkets this week. Slow demand will remain as the main challenge for European hot-rolled coil producers and will keep adding pressure to domestic coil prices in the third quarter of 2019, market sources told...Read More
The price of Brazilian domestic rebar decreased for July deliveries following a recent downtrend in Turkish rebar prices and weakening demand in the country.Fastmarkets assessed the rebar domestic price at 2,370-2,480 Reais ($622-650) per tonne delivered on Friday July 5, down from 2,450-2,600 Reais per tonne a month before. This marks the assessment's lowest since April 2018, when the p...Read More
China's rebar prices were flat on Friday July 5 with market participants taking a wait-and-see approach in spite of lower futures. Domestic Eastern China (Shanghai): 3,970-4,000 yuan ($578-582) per tonne, unchangedNorthern China (Beijing): 3,920-3,950 yuan per tonne, unchangedRebar futures fell during the day, but the decrease was attributed not to developments in the long steel market but to the...Read More