The London Metal Exchange three-month copper price traded slightly lower during morning trading on Wednesday October 20 following the exchange's amendments designed to maintain order in the copper market the previous day.The LME imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchan...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 20.Key drivers?EUR?European ferro-titanium suppliers held their offer prices steady in the week to Wednesday October 20 ahead of an expected major tender from major South Korean steelmaker Posco due by the end of the month.?EUR?Suppliers expected Posco to request offers from suppliers for a yearly contract to cover 2022. The...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide.....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, in-whs Rotterdam, $/lb at 26.60-27.35 on Wednesday October 20, 2021....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 applies.Fastmarkets assessed...Read More
Base metals prices were down across the board on both the London Metal Exchange and Shanghai Futures Exchange this morning, Wednesday October 20, with relatively high volume being seen on the LME.After the upward spikes in LME cash prices, ahead of the October prime data, it is perhaps not surprising a reality check is underway......but once again let us see how far the pullback goes.Broader marke...Read More
Base metals on the London Metal Exchange closed lower day on day on Tuesday October 19 after a strong open.The LME zinc three-month price led the decline among the base metals, closing at $3,508 per tonne - down more than 5% from $3,696 per tonne at the open."Even though we believe the LME zinc price can remain elevated...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...Read More
The three-month copper contract is trading near record highs on the London Metal Exchange, cash prices are rising even faster, and inventories are descending toward zero. Try running a hedge book in those conditions.It's been a very real quandary facing the physical trade and industry, which awoke on Tuesday October 19 to find copper's cash to November spread had flared to a backwardation of more...Read More
The London Metal Exchange has imposed a series of temporary measures to maintain an orderly copper market after wild outright and spread price moves and dwindling inventories in recent days, the exchange said.In a notice to members, the LME said its Special Committee had been monitoring the ongoing tightness in the copper market, with exchange inventories falling and nearby carries tightening. The...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 19 and their latest price moves.China Lower-than-expected October tender prices from major stainless steel mills and weakened demand outlook following production cuts in the stainless steel sector weighed on market sentiment.The domestic spot ferro-chrome market softened with lower offers heard...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...Read More
The Russian government has removed or reduced existing export duties on ferro-alloys, effective October 15, after responding to domestic industry concerns, trade sources said.Russia implemented its latest export tax changes on Friday October 15, a move which included scrapping the export taxon ferro-alloys such as ferro-titanium and ferro-tungsten.On Monday, Russia's Ministry of Economic Developme...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 19 that are worth another look.Vietnam's Hoa Phat Steel is close to obtaining certification from the United Kingdom Certification Authority for Reinforcing Steels (Cares), which would allow it to sell its rebar to the key markets of Singapore...Read More
Steel scrap prices in the main Mexican markets of Monterrey and Bajio continued their downward trend in the week ended Friday October 15, but prices diverged widely between buyers.Price cuts of 300-700 pesos ($14-34) per tonne were common last week, with some scrap buyers seeing comfortable inventory levels and steady supply.Fastmarkets' assessment of the steel scrap No1 heavy melt, consu...Read More
Novelis will invest approximately $130 million to upgrade its operations in Oswego, New York, the global aluminum rolling and recycling firm said in a press release on October 18.The project will increase hot mill capacity by 124,000 tonnes at the plant, which serves the can, automotive and specialty products markets, Atlanta-based Novelis said. The investment, which will be between spring 2022 an...Read More
Base metals prices continued to soar higher this morning, Tuesday October 19, with cash prices rising at an even faster pace while shorts are squeezed. Cash copper prices on the London Metal Exchange were evaluated on Monday evening at $1,103.50 per tonne.All of the LME base metals' cash/three-month spreads, except that for aluminium, are in backwardation.Risk appetite is fairly upbeat despite gen...Read More
China's cobalt metal price strengthened after China's National Day holiday (October 1-7) amid the rally in international benchmark metal price and a shortage of spot units. While the price gap between China domestic market and the international market narrowed, it is unlikely that the former will match the latter in the near future, sources told Fastmarkets.Fastmarkets' price assessment for cobalt...Read More
Prices for flat steel imports into the United Arab Emirates and Saudi Arabia continued to increase during the week ended Tuesday October 19, but demand was not strong in either country, sources have told Fastmarkets.Energy costs have been increasing in most markets, with steel mills adding these costs to their prices.Although sources said that demand in the two Middle Eastern countries was not ver...Read More