Global ferrous scrap prices moved downward during the week ended Friday June 7, notably in India and Taiwan, but prices in Turkey, the United States and Vietnam remaining unchanged on a lack of trading. Turkish market pauses for public holiday US export prices unchanged on lack of sales Vietnam prices flat on limited trading Taiwan prices dip on unconfirmed Turkish deal rumors Indian prices contin...Read More
The price of shredded ferrous scrap imported into India moved down week on week following poor demand, sources told Fastmarkets on Friday June 7.Fastmarkets' weekly index for containerized imports of shredded scrap into India was $324 per tonne cfr Nhava Sheva on Friday, down from $330.40 per tonne cfr Nhava Sheva one week previous.Offer prices for shredded this week ranged from $320-327 per tonne...Read More
Turkish mills did not book any deep-sea cargoes in the week ended Friday June 7 because of the week-long Eid al-Fitr public holiday, sources told Fastmarkets.There has been no trading activity during the week while Turkey marked the end of the period of abstinence for the Islamic holy month of Ramadan.Given the lack of activity in the...Read More
Ukrainian steelmaker Metinvest will reduce its overall capacity for pig iron at its Azovstal plant in a series of major blast furnace overhauls, Fastmarkets learned during the week ended Friday June 7.The complete shutdown of blast furnace (BF) No5 has already started, the company said on June 5."The equipment will be taken out of operation pursuant to the [refurbishment plan]. Once it has been co...Read More
Prices in the United Kingdom's light iron market were unchanged week on week on Friday June 7 due to Turkey's absence from the market, keeping prices steady, sources said. Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?85-105 ($108-133) per tonne on June 7, flat week on week. Turkey, a key UK export destination, has remained absent from...Read More
Sentiment in the key containerized scrap import market of Taiwan flipped to bearish this week, with demand stalling while end users awaited a clearer price direction after rumors of a lower-priced deal in Turkey.The rumor surfaced despite a trading hiatus in the bellwether Turkish market due to the Eid al-Fitr holiday, which ends on June 10. Demand in key bulk import market Vietnam...Read More
Seaborne iron ore prices were flat on Friday June 7 amid a muted market due to a public holiday in China.MB 62% Fe Iron Ore Index: $100.60 per tonne cfr Qingdao, unchanged. MB 62% Fe Pilbara Blend Fines Index: $99.40 per tonne cfr Qingdao, unchanged. MB 62% Fe Iron Ore Index-Low Alumina: $104.04 per tonne cfr Qingdao,...Read More
Sentiment in the ex-China segment of the seaborne coking coal market has deteriorated further following a trade involving a cargo of premium materials that was concluded below prevailing levels.A July-laycan cargo of branded materials changed hands on trading platform Global Coal at $197 per tonne fob Australia late on Thursday, various sources told Fastmarkets on Friday June 7. The transaction wa...Read More
Despite the world of trade and economic weakness still very much in focus, markets have generally managed to do some consolidating, although with the gold price holding above $1,230 per oz, haven assets remain in demand.We still see the global economy as wounded and it will need a US-China trade deal to see it recover. US President Donald Trump said he would decide whether to extend tariffs on US...Read More
The following Fastmarkets minor metals prices changed on Friday June 7:Minor metalsCadmium MB free market min 99.95%, cents/lb: 118-128 cents per lb from 120-130 centsChromium MB free market alumino-thermic, $/tonne: $7,750-7,950 per tonne from...Read More
Stainless steel prices in Europe were under pressure this week from lower June alloy surcharges and weak demand, sources told Fastmarkets on Friday June 7.Prices decreased only modestly this week, however, and mills were determined to resist the pressure and prevent any further price reductions, according to distributors.Fastmarkets assessment for grade-304 stainless steel cold-rolled (CR) sheet t...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday June 7:The following Fastmarkets non-ferrous European free market scrap...Read More
The three-month lead price on the London Metal Exchange climbed by just under 2% at the close of trading on Thursday June 6, closing just below $1,900 per tonne amid news of Nyrstar's declaration of force majeure at its Port Pirie smelter in Australia. The force majeure affects lead contracts for deliveries from Port Pirie after the blast furnace failed at the end of May. Representatives at t...Read More
A potential global ban on internal combustion engines (ICEs) by 2030 could facilitate a growth in nickel's share of the electric vehicle battery market to 80%, Al Bedwell of automotive intelligence provider LMC Automotive said at the 7th International Nickel Conference on Thursday June 6. The potential for a ban of traditional ICE vehicles by 2030 is driven by crackdowns on carbon emissions in Eur...Read More
The first deal for third-quarter aluminium ingot supply to Japan has been concluded at a cif premium of $108 per tonne basis main Japanese ports (MJP), nearly 3% above the second-quarter benchmark, market sources told Fastmarkets on Thursday June 6. The deal between a Japanese aluminium trading firm and an overseas supplier was agreed very early in the negotiations process and slightly above marke...Read More
Fastmarkets proposes changes to the publication day for two weekly Chinese ferro-silicon prices from Friday to Wednesday. The two price assessments include the ferro-silicon MB Chinese free market min 75% Si in warehouse China price and the ferro-silicon export min 75% Si fob China main ports $/tonne price.Fastmarkets is proposing this change to align the publication time of its China ferro-silico...Read More
Global zinc and lead producer Nyrstar has declared force majeure on contracts to supply lead from its Port Pirie smelter in Australia, a spokesman for the company said on Thursday June 6. The company called the force majeure after the blast furnace at the Port Pirie smelter failed at the end of May. It is "not possible to say at...Read More
Key data from the Wednesday June 5 pricing session in China. Key driversChinese cobalt sulfate price stabilizes due to producers' efforts to keep their offer prices steady. Consumer demand remains weak amid uncertainty surrounding electric vehicle (EV) sales in the second half of 2019. Chinese battery and battery materials manufacturers have slowed their operations while they await greater clarity...Read More
Key data from the Wednesday June 5 pricing session in Europe.Key drivers Thin demand in Europe for both grades of the material.A call from the antimony branch of the China Nonferrous Metals Industry Association asking major producers in the country to reduce output in a bid to reverse price weakness could...Read More
Turkish mills booked no deep-sea cargoes on Thursday June 5, due to the Eid al-Fitr public holiday, sources told Fastmarkets.The market will remain subdued for the remainder of the week while Turkey marks the end of the period of abstinence for the Islamic holy month of...Read More