Barring copper and zinc, base metal stocks at Shanghai Futures Exchange-approved warehouses fell in the week to Friday September 6, with the biggest percentage fall in lead stocks, which tumbled by 16.3% or 5,081 tonnes to 25,998 tonnes. The largest outflow in lead inventories was registered at Zongchu Wuxi’s warehouse in Jiangsu, which delivered out…Details
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BATTERY RAW MATERIALS MARKET REPORT 06/09: Chinese cobalt prices rise due to higher raw materials costs
An overview of the battery raw materials markets and their latest price moves. Source of informationDetails
Some aluminium scrap prices in the United States slipped over the past week, with the majority unchanged from the previous week, due to muted market activity and a lack of demand, sources said on Thursday September 5. Fastmarkets’ assessment of the aluminium scrap non-ferrous auto shred (90% Al) buying price, delivered to Midwest secondary smelters, was at…Details
Reuters reported that EU governments approved limits to steel quotas designed to protect European manufacturers from the threat of surging imports following the effective closure of the US market. EU diplomats said that a large majority of EU countries voted to back changes proposed by the European Commission. The bloc has had in place for…Details
Secondary aluminium alloy prices fell across the board on Thursday September 5 due to diminishing demand in the United States, with the London Metal Exchange’s North American special aluminium alloy contract (Nasaac) also tumbling to a more than 10-year low. Fastmarkets’ assessment for aluminium alloy A380.1, delivered Midwest, was at 63-67 cents per lb on September…Details
The US International Trade Commission has determined that revoking the existing antidumping and countervailing duty orders on imports of circular welded carbon quality steel line pipe from China would be likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time. As a result of the Commission’s affirmative determinations, the existing…Details
Stainless steel flat product prices in Europe remained unchanged this week with poor demand countering the effect of high nickel prices, sources told Fastmarkets on Friday September 6. Fastmarkets’ price assessment for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe, was €2,300-2,350 ($2,539-2,594) per tonne on Wednesday, unchanged week on week. Distributors…Details
Salzgitter Flachstahl has commissioned SMS group to revamp continuous caster No 1 at its Salzgitter works. The plant, which was delivered by SMS group in 1981, is to be fitted with a new machine head with mold, oscillator, and segment. The revamp is aimed at upgrading the plant with a range of trendsetting features, including…Details
LIVE FUTURES REPORT 06/09: LME nickel spreads tighten on mild buying momentum; lead price finds support
The London Metal Exchange three-month nickel price closed higher on Friday September 6, with fresh buying momentum prompting the metal’s forward spreads to tighten, while a steady incline in lead futures led the metal to top afternoon gains. Volumes traded in nickel over the afternoon were moderate at 8,600 lots, while average daily turnover returned…Details
As per a report in Times of India, Rashtriya Ispat Nigam Ltd has adopted barter system to pay its vendors. A ferroalloys supplier to RINL VSP said that “The delay in payment started earlier this year, when bills that we had submitted for ferroalloys we supplied to VSP were delayed by several months, adding to…Details
Prices of austenitic alloy steel scrap in the UK domestic market were stable this week at last week’s closing level amid relatively stable nickel prices, sources told Fastmarkets on Friday September 6. A surge in the nickel contract on the London Metal Exchange on August 30 of 9.6% day on day resulted in higher scrap…Details
Philippines largest steelmaker, SteelAsia Manufacturing Corp has signed a memorandum of understanding with China’s HBIS Group Limited for their first integrated iron and steel facility in Lemery, Batangas. The two steel companies inked their deal here Friday during the Philippine-China Business Forum, a side event of President Rodrigo Duterte’s visit to China. Under the MOU,…Details
Flat steel prices in the Brazilian domestic market have fallen in early September, with sellers granting discounts on large batches of inventory material, sources have told Fastmarkets. Fastmarkets’ price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil, was 2,250-2,470 Reais ($549-603) per tonne on Friday September 6, down from 2,470-2,517 Reais per tonne a…Details