Three-month base metals prices on the London Metal Exchange were largely higher during morning trading on Friday November 6, spurred by a continued decline in the US dollar index, while copper futures steadily appreciated to push past the $6,900-per-tonne resistance level amid persistent outflows. The three-month copper price was recently trading at $6,919 per tonne, its highest level since Octobe...Read More
Key data from the Friday November 6 pricing session in London.Key drivers Strong hydroxide payables continued to help keep prices firm amid weak demand for standard and alloy grade cobalt.Producers and distributors aired concerns about metal demand, reporting aggressive bids and some are considering going below the current range. ...Read More
An overview of the aerospace materials markets and the latest price moves.Fastmarkets has reworked the market reports...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
The cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt standard grade,...Read More
Scrap consumers indicated they were operating at "almost full capacity" in order to meet demand, adding that they have had to hold back from taking on more business."We're busy, we're running all our furnaces. We had good production in October and are expecting good production in November," one consumer source said. "I'm hearing some ridiculous numbers [for scrap]. The ingot price has been steadil...Read More
Fastmarkets today, Friday November 6, launches its weekly Steel scrap shredded, index, import, cfr Port Qasim, Pakistan.Following a month-long consultation period, Fastmarkets has launched its price for MB-STE-0887 Steel scrap shredded, index, import, cfr Port Qasim, Pakistan, $ per tonne, to complement its existing steel scrap prices in the South Asia region.Fastmarkets already includes coverage...Read More
Zinc concentrate treatment charges continued to slide in October, falling to a 26-month low with near-term demand continuing to outweigh immediate supplies of material, Fastmarkets has heard.Fastmarkets' latest monthly assessment for zinc spot concentrate TC, cif China, was $85-105 per tonne on Friday October 30, down by 13.6% from $100-120 per tonne on September 25.The market for zinc concentrate...Read More
Three-month base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 5, with a prolonged US election process limiting investor sentiment despite a continued decline in the US dollar index, while aluminium's forward spreads widened over the afternoon.Aluminium's underlying price on the LME closed at $1,897.50 per tonne on Thursday afternoon, declining...Read More
As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material's market direction. The London Metal Exchange three-month price hit $1,913 per tonne on Wednesday November 4 - the highest since April 2019 - and closed trading at $1,908.50 per tonne at the LME 5pm ring kerb. The aluminium price has been on an upward trajectory over t...Read More
Zinc concentrate treatment charges continued to slide in October, falling to a 26-month low with near-term demand continuing to outweigh immediate supplies of material, Fastmarkets has heard.Fastmarkets' latest monthly assessment for zinc spot concentrate TC, cif China, was $85-105 per tonne on Friday October 30, down by 13.6% from $100-120 per tonne on September 25.The market for zinc concentrate...Read More
As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material's market direction. The London Metal Exchange three-month price hit $1,913 per tonne on Wednesday November 4 - the highest since April 2019 - and closed trading at $1,908.50 per tonne at the LME 5pm ring kerb. The aluminium price has been on an upward trajectory over t...Read More
It has been two weeks since South Africa's cabinet approved a chrome ore export tax to support its chrome sector, and Chinese buyers say they would have little option but to accept the higher costs. China is the world's largest chrome ore importer and would therefore bear the brunt once the export tax is carried through. But the East Asian country has no choice but to brace for the price rise beca...Read More
Vale has entered into a 30-day exclusivity agreement to discuss the sale of nickel-cobalt operation Vale New Caledonia (VNC) with a consortium comprised of current management and employees of the unit, as well as state investors and Swiss trading firm Trafigura, the Brazilian mining company said on Wednesday November 4.Vale's subsidiary Vale Canada is carrying out negotiations, which include, "out...Read More
The Turkish deep-sea scrap import market remained steady on Thursday, with mills continuing to seek material for December shipment to replenish stocks, sources said on Thursday November 5.A steel mill in the Izmir region booked a deep-sea cargo of 25,000 tonnes of HMS 1&2 (80:20) from Venezuela at $290 per tonne cfr. The scrap is scheduled to be shipped in the first half of December.However,...Read More
Export prices for lower-impurity steel scrap grades from Japan jumped over the past week following greater buying interest from South Korean mills, market participants told Fastmarkets."The Japanese market is hot right now- a South Korean steelmaker increased its bid price for H1, plate & structural (P&S), Shindachi and shredded, while other mills are negotiating privately and paying [even] m...Read More
China's upcoming steel scrap futures looks set to be a game changer for the international community dealing in the steelmaking raw material.It will open up a whole new world of opportunities for both domestic and international traders, especially those who have been looking to capitalize on the massive size of China's domestic scrap market.While the Dalian Commodity Exchange (DCE) has yet to relea...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up day on day on Thursday November 5, due to long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?511.34 ($597.98) per tonne on Thursday November 5, up by ?,?6.23 per tonne from ?,?505.11 per tonn...Read More