The European Commission (EC) has initiated an anti-subsidy investigation into hot-rolled coil imports from Turkey, it said on Friday June 12.The EC concluded that the European steel association, Eurofer, had provided sufficient evidence that Turkish HRC producers have been benefiting from a number of subsidies. Eurofer lodged a complaint to the EC on April 30 this year."The alleged subsidy pr...Read More

Primary foundry aluminium premiums in Europe and the United States were flat on Friday June 12, with little demand from the automotive sector last month, market participants said. "PFA is a core business of ours and to not have any schedules for a month is quite concerning," one producer in Europe said. Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium, ddp Germany at $27...Read More

The London Metal Exchange three-month lead price continued its uptrend at the close on Friday June 12, firmly above the $1,700-per-tonne support level, while easing buying momentum for LME copper led it below nearby resistance. LME lead's outright price closed at $1,757 per tonne on Friday afternoon, climbing from an intraday low of $1,723.50 per tonne, while turnover was moderate over the day at...Read More

Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Friday June 12. The index dipped slightly on Friday after hitting $254.55 per tonne on June 11 - the highest since March 30. Key drivers:  London Metal Exchange aluminium prices fueled some uptrend for alumina prices this week, participants said.  The three-month aluminium price hit an intraday high...Read More

An overview of the battery raw materials markets and their latest price moves.Read More

Fastmarkets' benchmark copper concentrate treatment and refining charge (TC/RC) index dropped on Friday June 12 with traders eager to buy tonnages on a spot basis. The spot index fell to $47.50 per lb / 4.75 cents per lb on Friday from 49.6 per tonne/4.96 cents per lb a week ago. During the week, a tender for 40,000 tonnes of Los Pelambres concentrate delivered in the second half this year an...Read More

A summary of Trafigura's results for the first half of its 2020 financial year, October 1, 2019 to March 31, 2020.In summary:Net profit for the six-month period was up 27% to $542 million from $426 million a year earlier. There was a strong performance by both trading divisions (metals and oil) driven by significant volatility and dislocations in the global market following the Covid-19 pandemic....Read More

Key data from Fastmarkets' pricing session in Shanghai on Thursday June 11.Key drivers Demand for alumina increased after aluminium producers returned to the market to restock their inventories following weeks of inactivity. Reports of new aluminium smelting capacity coming online at the end of June or the beginning of July boosted sentiment in the alumina...Read More

Most base metals recorded a decline in deliverable stocks in Shanghai Futures Exchange-approved warehouses in the week to Friday June 12, with the exception of lead and nickel, Fastmarkets understands.SHFE lead stocks were at 19,716 tonnes on Friday, up by 10,691 tonnes or 118.5% from 9,025 tonnes a week ago, with the Zhejiang Tianchuan warehouse in Zhejiang province accepting the...Read More

Prices for Brazilian slab exports inched up in the week ended Friday June 12 while producers continued to push offers higher.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil widened upward by $10 to $355-375 per tonne on Friday from $355-365 per tonne one week earlier.Deals were made to China at close to $400 per...Read More

Domestic flat and long steel prices remained unchanged in Brazil in early June while demand remained stagnant, but mills were already planning increases for July.Prices held steady, maintaining their highest levels in at least one year in the case of flat-rolled products while no discounts were being offered despite tumbling demand. The long steel sector had some discount reports, although prices...Read More

There has been some follow-through selling in Asian-Pacific equity markets and base metals on the Shanghai Futures Exchange this morning, Friday June 12, but base metals on the London Metal Exchange and pre-market major western equity index futures are consolidating after Thursday's routs. * Pre-market Dow Jones equity index futures were indicated to open up by 1.4% this morning after the Dow Jone...Read More

Italian rebar producers seeking new export destinations, appear to have succeeded after reports of a surge in sales to North America this week, sources told Fastmarkets on Friday, June 12.And market participants in Italy's domestic market have complained about shortages of material due to the increase in export sales.Several sources in Italy confirmed to Fastmarkets that a 50,000-tonne c...Read More

Indian domestic secondary billet prices fell by 700 rupees ($9) per tonne in the week to Friday June 12, after a fall in finished steel prices in the country.According to an official from a billet mill in central India, demand for finished and semi-finished products had declined because some states in India have re-imposed restrictions to control the spread of the...Read More

European hot-rolled coil prices in Northern Europe have been fairly stable day on day on Friday June 12 in slow market, sources told Fastmarkets.Although the demand remains low, steelmakers are expected to announce higher offers this month, they added.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?396.25 ($449.74) per tonne on Friday June 1...Read More

U.S. equity index futures were higher this morning. S&P 500 futures were up 50 points in pre-opening trade.Adobe gained $11.33 to $399.00 after reporting higher than consensus fiscal second quarter earnings. JP Morgan raised its target price from $325 to $430.Lululemon dropped $9.26 to $298.86 after reporting lower than consensus first quarter revenuesGeneral Motors advanced $1.32 to $27.82 af...Read More

Domestic prices for ferrous scrap in Italy decreased month on month on Friday June 12, due to declining finished steel prices in Southern Europe, sources told Fastmarkets.Fastmarkets' monthly price assessment for steel scrap, E40 shredded, delivered to mill, Italy, was ?,?220-240 ($250-272) per tonne on June 12, down by ?,?20 per tonne from ?,?240-260 per tonne in mid May.And Fastmarkets' monthly...Read More

New pig iron sales to China continued to support further growth in global prices, but the future price trend is unclear, market sources said. At least two new cargoes were bought from the south of Brazil by international traders at $310 per tonne fob, with a freight rate of about $30 per tonne for September shipment. One cargo of Brazil-origin material was sold trader's position at $340-345 per to...Read More

The United States' pig iron price continued to increase in the week to Friday June 12 on new bookings from the Commonwealth of Independent States, sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $320-322 per tonne on Friday, up from $312-320 per tonne a week before.Two bookings...Read More

Pig iron export prices from Brazil rose again during the week to Friday June 12 on new sales to China.Fastmarkets' assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $310-315 per tonne on Friday, an increase of $15 from $295-300 per tonne last week.At least two new sales were done from the south of...Read More