The benchmark A380.1 secondary aluminium alloy price climbed again in the week to Thursday October 29 to reach its highest point in nearly 22 months, while aluminium scrap prices in the United States also edged up amid sluggish inbound volumes and sustained demand.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest rose for the twelfth week in a row on October 29, gaining 2...Read More
Strong domestic demand for galvanized steel boosted the third-quarter results of Nexa Resources, the Brazilian base metals producer said.There is enough domestic demand for zinc to keep Nexa's smelters running at full capacity, Nexa Resources chief executive officer Tito Martins said during an earnings call on Friday October 30."If I had more metal today, I would be selling more," Martins told Fas...Read More
The three-month prices of all base metals on the London Metal Exchange had fallen by the close of trading on Friday October 30, with aluminium being the only exception.Leading the pack, the three-month nickel price lost 2.6% to close at $15,150 per tonne after seeing turnover of a little more than 10,475 lots.The LME three-month copper price lost 0.5% to close at $6,707.50...Read More
Aluminium stocks at Shanghai-bonded warehouses surged by over 200% year on year in October on a profitable import arbitrage, while zinc inventories and copper inventories grew on both annually and quarterly comparisons. Open arb window and good demand support aluminium stocks increase Fastmarkets assessed Shanghai-bonded aluminium stocks at 30,000-30,500 tonnes on Friday October 30, up by 203...Read More
Ray Mennin has joined United States-based commodities trading company and agent Toroza as vice president, Fastmarkets learned.Mennin previously worked as an assistant portfolio manager...Read More
Spot copper concentrate treatment and refining charges (TC/RCs) dipped marginally while the market began annual contract negotiations at a price level where the benchmark may settle, Fastmarkets heard.Smelters are still actively buying clean tonnes at and just below $50 per tonne/5 cents per lb, with a premium on certain qualities of material rather than just the percentage copper grade, sources s...Read More
Chile's state-owned copper miner, Codelco, has named Carlos Alvarado permanent vice president of its commercial marketing team, according to a briefing seen by Fastmarkets that was dated Friday October 30 and signed by company president Octavio Araneda.Alvarado had been in the role on an interim basis since January...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in...Read More
Prices for domestic steel beams in the United States were flat on Thursday October 29 despite modestly rising demand, while prices for offshore material also held steady amid continuing weak import volumes, market participants said.Fastmarkets' price assessment for steel beams 8 x 8-inch, fob mill US again held at $35.25 per hundredweight ($705 per short ton) on October 29, where it has remai...Read More
Prices for galvanized steel sheet in the United States have strengthened, with hot-dipped galvanized made from hot-rolled coil base now equal to HDG made from cold-rolled coil.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US was unchanged at $42 per hundredweight ($840 per short ton) on Thursday October 29, breaking a streak of 10 consecutive weeks of increase...Read More
Hot-rolled coil prices in the United States ended the week to Friday October 30 above $34 per hundredweight ($680 per short ton), holding mostly flat after weeks of steady increases.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.13 per cwt ($682.60 per ton) on October 30, down by 3 cents from $34.16 on Thursday October 29 but up by 3 cents from $34.10 per cwt at...Read More
The market for imported pig iron in the United States improved during the week to Friday October 30 on new deals at higher prices, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $377 per tonne on Friday, up from $369-373 per tonne a week earlier.Late last week, a booking of Russia-origin material was heard at $377 per tonne cfr. This sale was...Read More
Turkish steel mills finished the week to Friday October 30 with no further purchases heard following a public holiday in the country on the Thursday, market sources have said.In addition to the public holiday on October 29, attention in the country was drawn to a powerful earthquake which struck the Izmir region, resulting in a number of deaths and injuries as well as causing damage to buildings.A...Read More
Brazilian pig iron suppliers were bullish about the export market because of possible higher charcoal costs and good local demand, but no serious negotiations have been heard at the offer level, sources said on Friday October 30.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $355 per tonne on Friday, unchanged from a week earlier.Offers were announced at pr...Read More
The price of shredded steel scrap imported into India moved up on Friday October 30 as a result of tight material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $321.21 per tonne on Friday, up from $316.16 per tonne one week earlier.Deal prices heard during the week were in the range of $322-324 per tonne, up from $...Read More
Prices for inter-merchant light iron scrap in the UK market were stable over the week to Friday October 30 on tight supply, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?95-105 ($123-136) per tonne on October 30, unchanged from the week before.Scrap collection has been 40% below the usual level for th...Read More
The price paid for pig iron exported from the Commonwealth of Independent States (CIS) rose in the week to Thursday October 29 on a new sale to the United States and Asia amid low availability, sources said.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS was $355-360 per tonne on October 29, up from $350-353 per tonne a week earlier.A sale of...Read More
A summary of Glencore's 2020 third-quarter production report for the coal sector, released on Friday October 30, where the company maintained its 2020 full-year production guidance except coal, which was adjusted for the extended strike at the Cerrejon mine.In brief The company's year-to-date (YTD) coal production of 83.5 million tonnes was 20.5 million tonnes or 20% lower than the comparable prio...Read More
The London Metal Exchange will finalize the last stage in the relaxation of its queue-based rent capping (QBRC) rule on Sunday November 1, when the rule moves to 80 days full rent.The threshold has been extended under a phased implementation over the past nine months. It began on February 1, 2020, when the rule moved to 50 days full rent, from the original rule of 30 days full rent and 20 days hal...Read More
Stock levels of all base metals except lead dipped in Shanghai Futures Exchange-registered warehouses in the week to Friday October 30, with copper dominating the declines in percentage terms.Copper stocks were assessed at 139,657 tonnes over the week, a decline of 15,849 tonnes, or 10.2%, from a week earlier, with the largest outflow of 4,398 tonnes from the Zhongchu Wuxi warehouse...Read More