Fifteen countries signed up to the Regional Comprehensive Economic Partnership at the annual summit of the Association of Southeast Asian Nations (Asean) on Sunday November 15.The Regional Comprehensive Economic Partnership (RCEP) is made up of 10 members of Asean plus Australia, China, Japan, New Zealand and South Korea. Together, the participating nations account for about 30% of global gross do...Read More
The International Aluminium Institute (IAI) has launched a roadmap to maximize alternative uses for bauxite residue to significantly reduce the waste material's social, environmental and economic impact, it said.Bauxite residue, also known as bauxite tailings or red mud, is a highly alkaline waste product composed mainly of iron oxide generated in the production of alumina. According to the IAI, b...Read More
The London Metal Exchange three-month copper price rose the most across the complex on Monday November 16 amid news of China's industrial output rising by 6.9% year on year. Copper's three month price rose by 2.4% on Monday morning compared with Friday's 5pm close, reaching $7,142.50 per tonne as of 9am. There was a staggering 16,000 lots traded in the morning session alone, although some analysts...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-approved warehouses exhibited mixed movements in the week to Friday November 13, with lead topping the gains in percentage terms while copper led the declines.SHFE lead stocks increased to 33,957 tonnes as of Friday, up by 7,396 tonnes (27.8%) from 26,561 tonnes a week prior. The largest inflow of the heavy metal this past week occurred a...Read More
A strong recovery in end demand for copper products in the third quarter of 2020 has boosted the copper industry in the United States, though the escalating number of coronavirus cases remains the biggest risk for the financial health of the world's largest economy.The Covid-19 pandemic, which continues to ravage the country, poses unique challenges, but has also opened new avenues for demand grow...Read More
The beginning of registration of hot-rolled flat steel imports from Turkey into the EU will make it possible to "avoid opportunistic import surges ahead of the imposition of later duties," European steel association Eurofer said on Monday November 16.The European Commission (EC) on November 13 made imports of HR flat steel from Turkey subject to registration upon arrival into the EU, allowing Euro...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow were flat in the week to Monday November 16 despite higher mill offers for November deliveries, sources have told Fastmarkets.Slow secondary market demand and competition between mills' trading branches and independent trading companies were constraining domestic rebar price growth in the region, sources said.Fastmarket...Read More
Turkish steel mills remained silent on the first day of the week but news of bookings from late last week has come to light, sources told Fastmarkets on Monday November 16.Turkish steel mills did not enter the market for deep-sea cargoes on Monday, but two cargoes were sold late on the preceding Friday after the Fastmarkets indices had closed for the day.A European cargo was booked by a mill in th...Read More
Turkish domestic auto bundle and shipbreaking scrap prices edged further upward in line with imported scrap values over the past week, sources said on Monday November 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,230-2,455 lira ($290-319) per tonne on Monday, narrowing upward from 2,210-2,455 lira per tonne last week.The price increas...Read More
The seaborne premium hard coking coal fob price fell on Monday November 16 amid a weak market, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $100.38 per tonne, down $4.02 per tonne Premium hard coking coal, cfr Jingtang: $154.32 per tonne, up $0.74 per tonneHard coking coal, fob DBCT: $95.80 per tonne, up $0.77 per tonneHard coking coal, cfr Jingtang: $141.68 per...Read More
Seaborne iron ore prices made gains on Monday November 16 amid support from positive data for steel reinforcing bar (rebar), which had increased sales in the spot market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $124.07 per tonne, up $1.70 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.35 per tonne, up $1.25 per tonne58% Fe fines high-grade premium, cf...Read More
Prices for seaborne iron ore pellets and concentrate strengthened again in the week ended Friday November 13 amid of a recovery in demand ahead of an approaching winter in China and fewer cargoes of the former being supplied to the East Asian country, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $132.50 per tonne, up $4.84 per tonne.65% Fe blast furnace pel...Read More
China's hot-rolled coil prices edged up on Monday November 16 amid optimistic sentiment generated by upbeat economic data and the establishment of a new free-trade agreement between 15 countries in Asia-Pacific.DomesticEastern China (Shanghai): 4,050-4,080 yuan ($613-617) per tonne, widening upward by 10 yuan per tonneSources told Fastmarkets that spot prices in Shanghai had strengthened in respon...Read More
China's domestic rebar prices increased on Monday November 16 after the country's National Bureau of Statistics (NBS) released positive downstream data.DomesticEastern China (Shanghai): 4,080-4,110 yuan ($617-622) per tonne, up by 20 yuan per tonneNew construction starts by floor area in January-October fell by 2.6% on the year to 1.8 billion square meters, according to the NBS. The rate of decrea...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....Read More
The cobalt alloy 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....Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday November 13.China The Chinese silicon grade 5-5-3 export price continued to gain strength, with deals concluded at the high end of the assessed range. Exporters kept raising offers after robust domestic prices. The rise in electricity prices in southern China, a tight supply of silica and the higher...Read More
Prices and payables for cobalt hydroxide continued their upward trend last week amid buoyant trade, with Chinese buyers busily securing units arriving ahead of the Chinese New Year holiday (February 11-17, 2021). Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China rose to 80-81% of the standard-grade cobalt price (low end) on Friday November 13, up 0.3% from 79.5-81% midwee...Read More
The domestic magnesium price in China continued to climb over the past week, due to rising demand from exporters keen to load cargoes for previously signed orders amid soaring freight costs, Fastmarkets understands. Fastmarkets' weekly price assessment for magnesium 99.9%, exw China was 12,600-12,800 yuan ($1,907-1,937) per tonne on Friday November 13, an increase of 150 yuan per tonne (1.2%)...Read More
Vanadium prices in Europe jumped in the week ended Friday November 13, with spot market interest increasing and the alloy market trading close to a two-month high.Fastmarkets' latest assessment of the price for ferro-vanadium, basis 78% V min, 1st grade, ddp Western Europe, was $24.00-24.90 per kg on Friday, narrowing upward from the mid-week assessment of $23.50-24.90 per kg but still down from i...Read More