Base metals prices on the London Metal Exchange were mostly higher during morning trading on Friday May 10, with price action largely unaffected by the United States' decision to increase tariffs on $200 billion worth of Chinese goods from 10% to 25%. Rebounding by more than 1.6% over the morning session, the LME three-month nickel futures are now trading above $12,000 per tonne, with volumes trad...Read More
Some Chinese ferro-alloys and minor metals prices wavered in a week when the United States raised the import tariff on a number of commodities from China on Friday May 10.The US raised import tariffs on $200 billion-worth of Chinese products to 25% from 10% at noon Asia time on Friday. This followed a threat on Sunday by US President Donald Trump to raise tariffs ahead of a new round of trade talk...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 May 10:Antimony MB free market regulus, $/tonne: $7,000-7,200 per tonne from $7,000-7,300Antimony MMTA standard grade II, $/tonne: $6,900-7,100 per tonne from $7,000-7,200Bismuth MB China domestic, yuan/tonne: 43,000-45,500 yuan per tonne from 46,000-47,000 yuanCadmium MB free market min 99.95%, cents/lb: 125-133 per lb from 133-140Ca...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves. 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
US tariffs on a number of Chinese minor metals and ferro-alloys have been increased to 25%, affecting shipments of material from China from today, Friday May 10.Minor metals and ferro-alloys affected by the latest tariffs include: bismuth, cadmium, gallium, germanium, germanium dioxide, selenium, tellurium, silicon, magnesium, mercury, arsenic, rhenium, hafnium, ferro-tungsten, ferro-vanadium, fer...Read More
Stainless steelmaker Aperam has called for the European Commission (EC) to implement "fair trade measures for developing countries that are currently exempt from the safeguard [quota-tariff measures in Europe], such as Indonesia," it said this week."The question of exempting certain developing countries remains to be addressed, in particular in hot-rolled stainless steel," chief executive officer...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
China's stainless steel prices were unchanged over the past week, with trading activity in the market being described as stable.The Fastmarkets MB domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,000-14,500 yuan ($2,065-2,139) per tonne including value-added tax for the week ended Wednesday May 8, unchanged from two weeks earlier. China obse...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
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday May 10:Aluminium scrapFloated Frag: ?,?1,010-1,050 per tonne from ?,?1,025-1,060Cast: ?,?910-930 per...Read More
Gay Huey Evans will be the first female chairperson of the London Metal Exchange, replacing Brian Bender when he retires at end of the year, Fastmarkets understands. Huey Evans has spent more than 30 years working in the financial services industry. She is currently a non-executive director of Itau BBA International Ltd, deputy chairperson of The Financial Reporting Council and a board...Read More
Lead's three-month price on the London Metal Exchange had tumbled by 2.5% by the close of trading on Thursday May 9, reaching its lowest level since August 2016 at an intraday low of $1,830.50 per tonne.Three-month lead prices were down by just under 10% since late-February, when prices last exceeded $2,000 per tonne. The price of lead spent most of 2018 above that threshold level, and while LME s...Read More
Comex copper prices failed to recover on Thursday May 9 morning in the United States amid persistent worries over the Sino-US trade talks.The copper price for July settlement on the Comex division of the New York Mercantile Exchange tumbled 3.70 cents to $2.7375 per lb"The intense selling pressure in the copper market since the start of May is...Read More
The Chinese spot alumina price could rise over the course of 2019 despite new capacity planned this year due to new downstream aluminium projects which outpace the raw material's capacity expansion, Fastmarkets learned during LME Asia Week in Hong Kong this week. China is projected to add 5.4 million tonnes of new alumina capacity this year, a year-on-year rise of 69% from 3.2 million tonnes of ne...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday May 9 that are worth another look.Aluminium traders in Europe have been switching business to the Italian port of Trieste in the past month, due to high stock levels leading to opportunistic trading. Market sources told Fastmarkets that the port is ideal for sending material into neighboring Central and Eastern Europe, with tru...Read More
The Chinese spot alumina price could rise over the course of 2019 despite new capacity planned this year due to new downstream aluminium projects which outpace the raw material's capacity expansion, Fastmarkets learned during LME Asia Week in Hong Kong this week. China is projected to add 5.4 million tonnes of new alumina capacity this year, a year-on-year rise of 69% from 3.2 million tonnes of ne...Read More
Fastmarkets will launch a Chinese export price assessment for electrolytic manganese flake on Friday May 10.After a consultation period, Fastmarkets will launch a weekly price assessment for electrolytic manganese flake, 99.7% basis, fob China, $/tonne. The introduction of the price will expand Fastmarkets' current price coverage for electrolytic manganese flake, providing the marke...Read More
Fastmarkets will host a free web seminar on Tuesday June 18 at 9.30am London time to discuss recent price moves in the cobalt market and how industry developments might affect the market going forward.Click here to register for the webinar. Date Tuesday June 18, 2019 Time 9.30am Join members of our cobalt price reporting and research team for: - An update on price assessment specifications, method...Read More