Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More
Low-carbon aluminium differentials in Europe have widened after this week's United Nations environmental conference, COP26, put sustainability in the spotlight.Fastmarkets assessed the aluminium low-carbon differential P1020A, Europe, at $0-10 per tonne, up from $0-7 per tonne in the previous assessment on October 1."We would be looking for $10 per tonne minimum right now, and I think that is tota...Read More
Spot prices for hot-rolled coil in China edged lower on Friday November 5, while futures prices set a new nine-month low.DomesticEastern China (Shanghai): 4,960-5,000 yuan ($775-781) per tonne, widening downward by 20 yuan per tonneNorthern China (Tangshan) weekly assessment: 5,030-5,090 yuan per tonne, down by 260-270 yuan per tonne Spot HRC prices in eastern China ended the week down by 340-370...Read More
Prices for steel scrap imported into Bangladesh were boosted this week by a strong domestic market in the South Asian country, sources told Fastmarkets on Friday November 5.Bangladesh's local shipbreaking scrap prices were heard this week at 53,500-54,700 taka ($613-627) per tonne ex-yard including VAT, which a leading Bangladeshi trader said was an all-time high.It surpassed the previous record h...Read More
Fastmarkets opened a consultation on October 1, inviting feedback on its IOSCO-audited non-ferrous materials methodologies in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore prices continue to reflect the physical marke...Read More
Fastmarkets opened a consultation on October 1, inviting feedback on its IOSCO-audited non-ferrous materials methodologies in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore prices continue to reflect the physical marke...Read More
Coated steel coil prices decreased in Turkey during the week ended Friday November 5, while some buyers expect further price falls, sources told Fastmarkets.Buyers expect more price decreases because of recent price falls for hot-rolled coil and weak demand, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $910-930 per tonne on November 5, narro...Read More
Ferrous scrap prices in the global markets were unstable in the week ended Friday November 5 because deep-sea import prices in Turkey, the biggest scrap importer, fell earlier. But they rebounded toward the end of the week, while suppliers in the United States were able to resist the decline because of strong domestic demand. Turkish import prices rebounded late in the week Strong domestic demand...Read More
Buyers in the Philippines have purchased imports of steel billet at largely flat prices despite the crash in the Chinese market this week, sources told Fastmarkets on Friday November 5.The Chinese ferrous futures markets have continued to nosedive this week, further reducing the prices in the country's domestic steel billet spot market. On Friday, key China market participants told Fastmarkets tha...Read More
Seaborne iron ore prices dropped on Friday November 5 amid further steelmaking production cuts in northern China, market sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.14 per tonne, down $6.96 per tonne62% Fe low-alumina fines, cfr Qingdao: $94.08 per tonne, down $7.62 per tonne58% Fe fines high-grade premium, cfr Qingdao: $65.78 per tonne, down $10.37 per tonne65% Fe Braz...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...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
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...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...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday November 5.China The bearish sentiment triggered by decreasing ferro-silicon futures continued to weigh on the Chinese spot ferro-silicon price, leaving market participants with a strong wait-and-see attitude. The high cost of electricity fees, a postponed steel mill tender, along with thin deals and inqui...Read More
China's domestic rebar prices declined on Friday November 5, with market participants expecting the downward trend to continue amid weakening end-user demand.DomesticEastern China (Shanghai): 4,880-4,910 yuan ($762-767) per tonne, down by 20 yuan per tonneNorthern China (Beijing) weekly assessment: 4,780-4,820 yuan per tonne, down by 360-370 yuan per tonneThe third round of land auctions is taking...Read More
Steel prices in the United States are poised to continue decreasing at a slow pace in the coming months, Luxembourg-based steelmaker Ternium said on Wednesday November 3.Supply and demand fundamentals have started to normalize in the country, but remain far from balance, according to Ternium chief executive officer M??ximo Vedoya.Among the drivers for lower prices, the CEO cited capacity usage in...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More