Deliverable base metals stocks in Shanghai Futures Exchange-registered warehouses all increased in the week to Friday October 8, according to the exchange's weekly report.Due to China's National Day holiday on October 1-7, there was just one trade day this week.Tin, nickel, and copper stocks all increased significantly, with tin climbing the most in percentage terms.On Friday, the tin stockpile me...Read More
Renault Group, a leading automotive maker in both the electric vehicle (EV) and non-EV sectors has signed a Memorandum of Understanding (MoU) with Finland's Terrafame for the future supply of nickel sulfate, according to a statement on October 8. Terrafame owns and operates a nickel, zinc, cobalt and copper mine at Sotkamo in eastern Finland and earlier this year brought online a nickel sulfate pl...Read More
Import prices for cargoes of steel billet to China were unchanged on Friday October 8, but a growing sense of bullishness from the sell-side was reflected in offer prices, sources have told Fastmarkets.Chinese market participants returned from their week-long Golden Week holiday on Friday to higher domestic steel billet prices, with the material traded at 5,310 yuan ($823) per tonne ex works...Read More
Surging spot spodumene prices following aggressive bids in the latest Pilbara Minerals' spodumene concentrate auction has elevated negotiated prices for fourth-quarter term contracts, market sources told Fastmarkets.Bids for SC 5.5% units reached a high of $2,240 per dry metric tonne (dmt), fob Hedland, during the Australian miner's second spodumene auction on its Battery Metals Exchange on Tuesda...Read More
Indian domestic secondary billet prices fell by 300 rupees ($4) per tonne week on week, despite the price of other key raw materials such as direct-reduced iron (DRI) continuing to rise.Fastmarkets' price assessment for steel billet domestic, ex-works India was down by 300 rupees per tonneat 46,300-46,500 rupees ($619-623) per tonne, compared with last week's 46,600-46,800 rupees per tonne ex...Read More
Brazil's domestic price for steel reinforcing bar fell in October due to more balanced supply-demand fundamentals and a broader global downtrend.On the other hand, Turkish prices had rebounded in the week to Friday October 8, and market participants saw room for price increases in Brazil.Brazilian mills usually follow international trends, aiming for an average 10% premium in domestic prices over...Read More
The Brazilian automotive association, Anfavea, has cut its forecast for production and sales in 2021, due to a shortage of semiconductors and logistics issues.Vehicle production is now expected to reach between 2.13-2.22 million units this year, an increase of 6-10% from the 2.01 million units produced in 2020, the association said on Wednesday October 6.The new forecast is 10-13% lower than the a...Read More
Hot-rolled coil prices in the United States fell below $97 per hundredweight ($1,940 per short ton) for the first time since September 22 - landing at their lowest since September 1 - with market participants indicating that more gradual retreats could be coming.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.79 per cwt ($1,935.80 per ton) on Friday October 8, dow...Read More
Brazil's domestic hot-rolled coil prices have declined in October, with some producers heard giving discounts amid pressure from distributors and clients, although the movement was not yet widespread in the market.Two steel producers were offering material above the market average but are now granting discounts due to the difficult market, sources told Fastmarkets.Fastmarkets' monthly price assess...Read More
An overview of the aerospace materials markets and the latest price moves in the week to Friday October 8.Jessica Long, Zihao Li, Ruby Liu...Read More
Brazil's domestic price for steel reinforcing bar fell in October due to more balanced supply-demand fundamentals and a broader global downtrend.On the other hand, Turkish prices had rebounded in the week to Friday October 8, and market participants saw room for price increases in Brazil.Brazilian mills usually follow international trends, aiming for an average 10% premium in domestic prices over...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Fastmarkets' spot copper concentrates treatment/refining charge remained largely stable in the week to October 8.A few clean parcels were sold to smelters in the low-to-mid $60s during the week - still below the Chinese pricing floor of $70 per tonne targeted for fourth quarter procurement.Overall buying interest has remained low, with Chinese importers away for the most of...Read More
Hot-rolled coil prices decreased in Turkey during the week ended Friday October 8, while buyers were uncertain about the direction of prices, sources told Fastmarkets.Buyers were uncertain because China returned back to business after its National Day holidays with higher prices.Furthermore, sources expect higher energy costs to increase the cost of steel production and to push up prices, alt...Read More
Brazilian slab export prices decreased in the week ended Friday October 8 amid continuing weak buying activity and strong competition from other regions.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was down to $760-780 per tonne on Friday, down by $20 from $780-800 per tonne on October 1.Bids for Brazilian material were heard close to $720 per tonne fob in...Read More
Most base metals prices on the London Metal Exchange closed higher day on day in Friday's session.The three-month nickel price led the base metals complex, closing at $19,221 per tonne, up by more than 5% on Friday compared with Thursday's close at $18,264 per tonne."We view the recent price weakness in LME nickel as a buying opportunity and...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.There was no activity from China during the October 1-7 period due to week-long national holiday there, which paved the way for material from other countries to be offered to South American clients. However, with the market...Read More
Seaborne coking coal prices mostly increased after the National Day holiday in China, while China's coking coal-producing hub Shanxi province was hit by heavy rains, causing production halts at mines.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $609.79 per tonne, up $6.51 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, down $0.08 per tonnePremium hard coking coal, fob DBC...Read More
Iron ore prices went up on Friday October 8 with improved trading liquidity after the Chinese holiday, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.38 per tonne, up $6.36 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.95 per tonne, up $7.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $95.86 per tonne, up $4.64 per tonne65% Fe Brazil-origin fines, cfr Qi...Read More