Prices in most of the global markets for steel billet dropped sharply in the week ended Friday August 30 amid unfavorable market conditions – in particular, poor demand and falling scrap prices. China Weakening demand for billet continued to push Chinese domestic billet prices down, sources said. Re-rolling mills in Tangshan were expected to reduce…Details
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Steel beam prices in the United States have fallen in tandem with recent mill cuts, while fresh offers have lowered import prices. Fastmarkets’ monthly price assessment for steel beams 8 x 8-inch, fob mill US, declined to $35.25 per hundredweight ($705 per short ton) on Thursday August 29, down 7.8% from July’s assessment of $38.25…Details
Cold-rolled coil prices in the United States were steady on Thursday August 29, while hot-dipped galvanized pricing slipped modestly. Fastmarkets’ weekly assessment for cold-rolled coil, fob US mill, was unchanged at $37.50 per hundredweight ($750 per short ton) on Thursday, while that for the hot-dipped galvanized base price slipped by 1.3% to $37.50 per cwt from $38…Details
Nickel’s three-month price on the London Metal Exchange continued to trend higher during morning trading on Friday August 30, breaking through the 2018-high while its cash/three-month spread remains tight. Reaching an intra-morning high of $16,835 per tonne, nickel futures surged past the key $16,690-per-tonne resistance level achieved in the wake of US-imposed sanctions on Russian…Details
Jiuquan Iron & Steel Group (Jisco) plans to temporarily close its Alumina Partners of Jamaica (Alpart) refinery for over a year in the next two to three months, sources told Fastmarkets on Friday August 30. Sources close to the matter said the refinery, which is located in Nain in St Elizabeth, Jamaica, needs to shut…Details
All base metal stocks at Shanghai Futures Exchange-approved warehouses were lower week on week on Friday August 30, with the biggest percentage fall in nickel stocks, which tumbled by 15.2% or 4,509 tonnes to 25,262 tonnes. The largest outflow in nickel inventories was from CMST Dachang’s warehouse in Shanghai, which delivered out 3,927 tonnes leaving…Details
An aluminium producer has offered fourth-quarter 2019 supply of aluminium to main Japanese ports (MJP) at a premium of $110 per tonne, according to market sources. The number is 1.9% higher than the cif MJP premium for the third quarter of $108 per tonne. “We are quite surprised that the offer is above $105 per tonne because…Details
BATTERY RAW MATERIALS MARKET REPORT 30/08: Cobalt hydroxide index up 28% in reaction to Mutanda closure
An overview of the battery raw materials markets and their latest price moves. Source of informationDetails
The Dawn reported that steel bar and flat products stakeholders in Pakistan are perturbed over slowdown in sales during July to August saying that most of the projects in public and private sector have been on hold coupled with rising prices of long and flat products. Former Senior Vice President, Karachi Iron and Steel Merchants…Details
The three-month nickel price on the London Metal Exchange continued to surge at the close of trading on Friday August 30, closing at its highest level since September 2014, while a 3.6% uptick in tin futures did little to close a widening gap between the two metals. Nickel’s rally began just before midday after the…Details
SSAB introduces flexibility measures and initiates employer-employee negotiations in its Finnish operations. The initiatives are due to a reduction in production volumes in the Nordic operations. The negotiations to be initiated concern potential temporary lay-offs in the Finnish operations, excluding Lappohja tube mill and the subsidiaries Ruukki Construction, Tibnor, Raahen Voima and Presteel. The negotiations…Details
Domestic rebar prices in Poland remained unchanged this week with market activity just beginning to recover after the seasonal summer slowdown, sources told Fastmarkets on Friday August 30. Fastmarkets’ weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, remained at 2,150-2,200 zloty ($542-555) per tonne on August 30. The assessment reflected the… Source…Details
Leading Russian mining and metals companies Mechel PAO has signed a major contract for coke and coal supplies with the international trading company Steel Mont. According to the agreement, before the end of 2020 Mechel will supply Steel Mont with up to 700,000 tonnes of products, including up to 350,000 tonnes of metallurgical coke produced…Details