Global ferrous scrap prices showed varying dynamics in the week ended Friday April 26 following price drops in Turkey and Vietnam, while prices moved up in Taiwan and India. Only deal done this week sends Turkish prices down US export market remains static Prices move down in Vietnam Taiwan prices begin recovery India prices inch up on tight supply.Turkey importsThe Turkish mills remained mostly s...Read More
The price range of grade-304 stainless steel cold-rolled (CR) sheets in Europe widened upward on Friday April 26, with some mills in the region successfully seeking higher prices but others seeming to be content with the prices achieved earlier in the month, market participants told Fastmarkets.A distributor explained that it has bought from higher-priced mills as well as lower-priced ones partly...Read More
Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More
When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Investing.com - Gold prices edged up on Friday after the release of a slew of U.S. economic data overnight.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were down 0.2% at $1,281.85 per ounce by 1:16 AM ET (05:16 GMT).The U.S. Department of Labor reported that initial jobless claims rose by 37,000 to a seasonally adjusted 230,000 for the week ende...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Friday April 26, supported by a slight dip in the US dollar index below the psychological level of 98.Solid GDP figures from the US also aided buying momentum.The three-month zinc price closed at $2,768 per tonne, up by more than 1% over the afternoon, in decent volumes - almost 10,000 lots changed...Read More
Warrant traders are reporting an uptick in European zinc warrants available on the London Metal Exchange amid fresh inflows of material this month, while a strong backwardation in the metal's nearby spreads has left participants questioning what is incentivizing buying. This week, Fastmarkets was informed of business at $25-30 per tonne for 99.995% North European zinc warrants, its highest le...Read More
Lead stocks held in Shanghai Futures Exchange-approved warehouse plunged by 13.8% week on week on Friday April 26 due to rising utilization rates.Deliverable lead stocks at SHFE-approved warehouses have tumbled by 4,052 tonnes since April 19 to reach 29,329 tonnes as of this Friday.This week's sharp drop follows an increase of 232 tonnes on April 19, before which stocks had been falling. Zhejiang...Read More
Pig iron export offers from the south of Brazil went down during the week ended Friday April 26 on lower local demand and a pessimistic mood among buyers, Fastmarkets has heard.Fastmarkets' weekly price assessment for pig iron exports from the southeastern Minas Gerais region of the country was $330-340 per tonne fob on April 26, widening downward from $335-340 per tonne a week before.One cargo of...Read More
Indian secondary billet prices remained flat for the second consecutive week on Friday April 26 even as finished long steel product prices continued to slide.The Indian domestic secondary billet price was assessed by Fastmarkets on Friday at 31,400-31,600 rupees ($446-449) per tonne ex-mill, unchanged since last week."Secondary billet prices are stable only because there is not enough supply," an...Read More
Some smelter-grade aluminium scrap prices have started to show renewed signs of deterioration, due to falling secondary aluminium alloy prices, ample scrap availability and new concerns over Chinese scrap demand during the northern hemisphere's summer months."The market is under pressure, triggered with the news about China import delays and 380 prices under pressure. There is metal out there, and...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close of trading on Friday April 26, supported by a slight dip in the US dollar index below the psychological level of 98.Solid GDP figures from the US also aided buying momentum.The three-month zinc price closed at $2,768 per tonne, up by more than 1% over the afternoon, in decent volumes - almost 10,000 lots changed...Read More
An overview of the battery raw materials markets and their price moves.Read More
Warrant traders are reporting an uptick in European zinc warrants available on the London Metal Exchange amid fresh inflows of material this month, while a strong backwardation in the metal's nearby spreads has left participants questioning what is incentivizing buying. This week, Fastmarkets was informed of business at $25-30 per tonne for 99.995% North European zinc warrants, its highest le...Read More
Lead stocks held in Shanghai Futures Exchange-approved warehouse plunged by 13.8% week on week on Friday April 26 due to rising utilization rates.Deliverable lead stocks at SHFE-approved warehouses have tumbled by 4,052 tonnes since April 19 to reach 29,329 tonnes as of this Friday.This week's sharp drop follows an increase of 232 tonnes on April 19, before which stocks had been falling. Zhejiang...Read More
Lead and zinc recycler Recylex reported sales revenue of ?,?75.8 million ($84.76 million) in the first quarter of 2019, a fall of 20% year on year due to major maintenance shutdowns and falling prices for lead and zinc, the company said on Wednesday April 24. Sales revenue from lead, accounting for 60% of the company's total sales, declined by 23% to ?,?45.8 million during the first three months o...Read More
Comex copper prices recovered from a one-month low during the final weekly session in the United States on April 26, with the dollar once again driving price movement.The copper price for July settlement on the Comex division of the New York Mercantile Exchange gained 2.40 cents to $2.8915 per lb. The red metal has been unable to set a clear price direction over the past few weeks, with a volatile...Read More
Anglo American's refined copper production increased by 4% in the first quarter of 2019 due to rising higher-grade ore output at its Los Bronces and El Soldado mines in central Chile. Refined copper production totaled 161,100 tonnes in the first three month of 2019, up from 154,900 tonnes in the same quarter of 2018, the London-listed miner said on Tuesday April 23.Refined copper production from L...Read More
While the cost of steel beams in the United States has continued to hold steady, slow demand and weakening raw material costs could prompt an official mill price decrease next month, sources told Fastmarkets AMM.Fastmarkets' price assessment for domestic W8x8 beams has remained at $43.25 per cwt ($865 per short ton) fob mill since late February, after that month's mill increases were passed throug...Read More
Prices of cold-rolled coil and coated steel sheet in the United States continued to decline over the past week, falling by 50 cents across the board and taking cues from softness in the hot-rolled coil market in spite of relatively stable demand.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil fell to $41 per hundredweight ($820 per short ton) on Thursday April 25, down from $41.5...Read More