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The metals and mining markets are constantly changing. Stay connected to the stories driving change across the global metals markets, including the lasting effect of Russia’s invasion of Ukraine, energy price hikes, trade flow disruptions and the pull of decarbonization targets.
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Three-month base metals prices on the London Metal Exchange largely consolidated during morning trading on Thursday August 27, with thin turnover seeing price action largely unmoved, while continued weakness in the US dollar index failed to spur buying sentiment across metal markets ahead of this afternoon’s Federal Reserve speech.
Prices for bulk cargoes of scrap imported to Bangladesh moved up again over the last week with offer prices from key exporters on the rise, market participants told Fastmarkets.
Fastmarkets is proposing to change the thickness of products assessed in its steel heavy plate 20-60mm import, cfr main port India, $/tonne price to 10-40mm.
Following a consultation period, Fastmarkets will change the minimum tonnage of its weekly price assessments for steel hot-rolled coil for export, fob main port Turkey, to a minimum of 2,000 tonnes (with no set maximum), from the current 500-1,000 tonnes, with effect from Monday August 24.
Crude steel production in Germany was down by 24.70% year on year in July due to capacity being cut to balance the drop in demand caused by the Covid-19 pandemic, German steel federation WV Stahl said on Monday August 24.
Three-month base metals prices on the London Metal Exchange were up during morning trading on Monday August 24, with market optimism over a Covid-19 vaccine rising after US regulators approved the use of convalescent blood plasma as a treatment option, while continued weakness in the US dollar index also provided support.
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