A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 7.Please click...Read More
Brazilian aluminium producer Companhia Brasileira de Alum?-nio (CBA) will continue to seek "green funding" alternatives after securing 500 million Reais ($90 million) this year to develop sustainability projects and offer more low-carbon metal, company executives said on Monday October 5.At the same time, the company was cautious about the recent demand recovery in the domestic market from lows se...Read More
Muted spot activity kept lead and zinc premiums flat globally in the week to Tuesday October 6, while a dip in the London Metal Exchange base price failed to spur any additional buying. US zinc market engaged in annual benchmark talks for 2021. Spot buying in Taiwan was minimal during a short working week; Shanghai market closed for China's Golden Week holiday. Global premiums stagnant i...Read More
Approximately $1.64 billion worth of copper tube and pipe exports from Vietnam, Thailand and Malaysia over the past few years could face India's countervailing duty after the government launched an anti-dumping investigation, Fastmarkets understands. Directorate General of Trade Remedies, under India's commerce ministry, received a complaint from industry body Bombay Metal Exchange (BME) that a si...Read More
Fastmarkets opened a consultation on September 4, 2020, inviting feedback on its non-ferrous methodology in line with our annual methodology review process. The consultation sought to ensure that our methodology continues to reflect the physical market in base metals, minor metals, ores and alloys. This includes all elements of our pricing process, our price specifications and publication fre...Read More
Brazilian vehicle production fell by 11% in September 2020 compared with the corresponding month a year before, with producers increasing supply from April lows at a slow pace in order to prevent inventories from rising too much, carmakers' association Anfavea said on Wednesday October 7.The country made 220,162 vehicles last month, down from 247,455 units reported in September 2019. But output wa...Read More
Demand for steel billet in the Gulf Cooperation Council (GCC) region early in the week that began on Monday October 5 supported billet sellers in the CIS region, which have been faced with a lack of trading activity in most outlets recently.Customers in the Middle East-North Africa (Mena) region and Asia have adopted a wait-and-see position over the past seven days amid uncertainty about the price...Read More
Hollow steel sections prices in Europe moved up further this week while mills continue to pass on higher feedstock costs, market sources told Fastmarkets on Wednesday October 7.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?590-620 per tonne ($695-730) on Wednesday, up from ?,?580-590 per tonne one week previous.The price of hot-rolled coil, t...Read More
The low end of the steel H-beam price ranges in Europe moved up this week on positive producer sentiment after recent price increase announcements, sources told Fastmarkets on Wednesday October 7. Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?540-570 per tonne ($636-671) on Wednesday, narrowing on the low end from ?,?530-570 per tonne one wee...Read More
Domestic steel rebar prices in Europe were largely rangebound in the week to Wednesday October 7, with market participants saying they believe prices have reached a top in both the north and south of the region.Northern Europe Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe was ?,?470-480 ($553-565) per tonne on Wednesday, widening d...Read More
With less than one month remaining before the presidential election in the United States, Fastmarkets takes a look at how the two main candidates' platforms could affect the mineral markets.On November 3, the US will go to the polls to choose between incumbent President Donald Trump and challenger Joe Biden. Both candidates have proposed a number of new policies which could shake up the mineral ma...Read More
Turkish steel mills continued to stay away from deep-sea scrap purchasing due to the weak domestic steel market, sources told Fastmarkets on Wednesday October 7.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap.The previous Balt...Read More
A major fire involving about 20,000 tonnes of steel scrap at Sims UK's main export facilityin the west of England is expected to have a significant impact on shipments to key destinations, including Turkey. Sims UK did not reveal how much scrap was damaged or gave details as to the grade of material affected by the blaze at its Avonmouth dock facilities in southwest England, but a spokesman f...Read More
Prices for exported steel scrap cargoes from Japan were largely unchanged over the past week amid holidays in South Korea and Taiwan, together with the upcoming Kanto Tetsugen auction. Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan was ?27,000-28,000 ($256-265) per tonne on Wednesday October 7, unchanged week on week. Offers were largely flat at ?28,000-28,500...Read More
Both seaborne and futures iron ore prices were flat on Wednesday October 7 with no visible activity on trading platforms during the Chinese Golden Week holiday and limited swaps trading volumes. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.47 per tonne, unchanged62% Fe low-alumina fines, cfr Qingdao: $123.49 per tonne, unchanged58% Fe fines high-grade premium, cfr Qingdao: $111.76 p...Read More
Seaborne coking coal prices were largely unchanged on Wednesday October 7 amid limited trading activity, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $137.60 per tonne, up $0.14 per tonne Premium hard coking coal, cfr Jingtang: $145.10 per tonne, unchangedHard coking coal, fob DBCT: $113.52 per tonne, unchanged ...Read More
London Metal Exchange three-month base metals prices, except tin, ticked up during the morning on Wednesday October 10 despite news that United States President Donald Trump will not hold long-awaited fiscal stimulus talks with US Democrats until after the Presidential election on November 3.Discussions regarding the proposed US $2.2 trillion relief bill are ongoing, revised down from the original...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Wednesday October 7, while equity markets were mixed. US Federal Reserve chair Jerome Powel warned too little stimulus is worse than too much.International Monetary Fund chief Kristalina Georgieva warns economic "calamity is far from over".US President Donald Trump postpones stimulus talks with Democrats unt...Read More
Aluminium premiums across the globe were mostly unchanged amid low liquidity in the week to Tuesday October 6, with all eyes on the narrowing London Metal Exchange spreads.Low liquidity for Rotterdam premiumsUS participants look to November for clarity on Canadian unitsEnd of the import quota in BrazilNorth Asia spot premiums unchanged on stable demandRotterdam flat; Spain, Italy catch upPremiums...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More