Primary aluminium foundry alloy premiums in Europe were steady on Friday May 10 in a quiet market, while bearish sentiment from the automobile industry continued to cap premiums. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne, steady from April's assessment the...Read More
The global ferrous scrap trade continued to soften during the week ended Friday May 10 due to negative sentiment and weak demand in the major markets. Political disturbances in Turkey put more pressure on mills US export prices on both coasts fall Lower Kanto tender, Turkish lira drive down spot prices in Asia Indian market still subdued by general election process.Turkey importsTurkish steel prod...Read More
Austenitic alloy steel scrap prices in Europe and the United Kingdom weakened this week because of further falls in nickel prices, sources told Fastmarkets MB.The three-month official nickel price on the London Metal Exchange was $11,900/11,925 per tonne on Friday May 10, down from $13,180/13,200 per tonne a month earlier. This drop of 10% over the preceding month was not initially tracked by aust...Read More
While US-China trade talks continue, the market seems to be clinging on for an eleventh-hour deal this morning, Friday May 10, because key markets are holding up surprisingly well.But, if a deal does not miraculously emerge soon then further disappointment is likely to set in.US raises tariffs on $200 billion worth of Chinese imports to 25% China's CSI 300 is up by 3.2%, other Asian equity markets...Read More
An overview of the battery raw materials markets and their price moves.Read More
The Chinese domestic battery-grade lithium hydroxide price dropped by more than 5% week on week due to ample stocks and buyer reticence, while there was good demand for technical and industrial grade carbonate from lithium manganese oxide (LMO) and lithium iron phosphate (LFP) battery manufacturers, supporting the price in the latest pricing session. The lithium hydroxide market moved down in Chin...Read More
The price of some steel coil products in Turkey increased over the seven days to Friday May 10, but buying activity remained subdued, sources told Fastmarkets this week.With demand remaining weak in the local market, producers did not want to reduce prices because that would lead to a further reduction in demand as buyers would hold out for even lower prices, sources said.However, demand...Read More
Coated flat steel prices in Turkey fell over the week ended on Friday May 10, with demand weak in the domestic market.Demand in the local market remained poor because of the continuing weakness in the Turkish lira and uncertainty following elections.The lira was trading at TRY100 to $16.27 on May 10 compared with TRY100 to $17.47 on April 12 and TRY100 to $18.76 on March 1, according to exchange r...Read More
German industrial conglomerate ThyssenKrupp is planning to cut 6,000 jobs over the next three years, including 2,000 jobs in its steel business, chief executive officer Guido Kerkhoff said in a conference call on Friday May 10.ThyssenKrupp remains open to consolidation opportunities for its European steel business, which will be reintegrated into the parent company, following news of the European...Read More
Domestic prices for rebar in Poland have moved down over the past week, reflecting an anticipated fall in scrap costs, sources told Fastmarkets on Friday May 10.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland moved down to 2,170-2,240 zloty ($566-584) per tonne ex-works on May 10, from 2,210-2,270 zloty per tonne ex-works a week earlier.The assessment reflected d...Read More
The ongoing trade talks between the United States and China kept buyers on the sidelines on Friday May 10, sources said, with market participants expected to wait for clearer price direction before returning.Export prices were flat on Friday, but are expected to continue to face downward pressure due to the depreciation of the Chinese yuan against the US dollar. Falling domestic pri...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
The global ferrous scrap trade continued to soften during the week ended Friday May 10 due to negative sentiment and weak demand in the major markets. Political disturbances in Turkey put more pressure on mills US export prices on both coasts fall Lower Kanto tender, Turkish lira drive down spot prices in Asia Indian market still subdued by general election process.Turkey importsTurkish steel prod...Read More
The price of shredded ferrous scrap imported into India dropped by $6 per tonne this week, reflecting a souring of market sentiment, sources said. Fastmarkets MB's weekly index for containerized imports of shredded scrap into India went down by $6.56 per tonne to $325.03 per tonne cfr Nhava Sheva on Friday May 10 from $331.59 per tonne cfr Nhava Sheva a week previously.Deals heard on the market fo...Read More
The Brucutu iron ore mine from Brazilian company Vale is currently operating on dry stacking at less than a third of its capacity, the miner's chief financial officer Luciano Siani said in an earnings conference call on Friday May 10."We are currently producing [at a rate of] a little less than 10 million tonnes [per year] at Brucutu," the executive stated. The mine has an output capacity of aroun...Read More
Transaction prices for CIS-origin billet have gone down this week, with buyers continue to insist on lower prices, sources told Fastmarkets on Friday May 10.Fastmarkets' daily CIS export billet index was $420 per tonne fob Black Sea on May 10, down by $2 per tonne day-on-day.A Ukrainian steelmaker was reported to have sold a significant volume of material to Asia at $420 per tonne fob Black Sea.Ru...Read More
Indian domestic secondary billet prices fell by 700 rupees ($10) per tonne in the week ended Friday May 10 with demand for semi-finished steel products slumping alongside finished products such as rebar.Indian domestic secondary billet prices were assessed by Fastmarkets at 31,200-31,400 rupees ($445-448) per tonne ex-mill on May 10, down by 700 rupees per tonne from last week's assessment of 31,9...Read More
Export prices for Brazil-origin steel slab went downward in the week ended Friday May 10, with buyers and sellers negotiating over the final batches in the annual quota for the semi-finished product to be imported into the United States.Fastmarkets' weekly assessment of Brazil export slab prices dropped to $520-540 per tonne fob on May 10, from $540-550 per tonne fob a week earlier.Offers to the U...Read More
Prices in the European domestic stainless steel market were stable this week but decreases are likely either late in May or early in June because of falling nickel prices as well as generally weak market conditions, sources said. Fastmarkets MB assessed the price of grade-304 stainless steel cold-rolled (CR) sheets at ?,?2,240-2,300 ($2,510-2,577) per tonne delivered on Friday May 10, unchanged we...Read More
The United States government has increased its existing 10% additional duties on imports of base metals, ferrous metals and associated products from China to 25% from Friday May 10, citing a lack of progress on ongoing trade talks. These duties will be imposed on Chinese exports to the US of tariff lines including items and products of copper, zinc, nickel, iron and steel and other base metals. A...Read More