Copper concentrate treatment and refining charges (TC/RCs) rebounded in the week ending September 11, rising from an all-time low due to the improved spot availability of copper materials.TC/RCs fell to record lows in the week to September 4.Smelter purchases were mostly settled at high $40s/4 cents with very few parcels transacted at a TC level below or above that.On the mine-trade...Read More
The Brazilian aluminium industry association, Abal, has requested a meeting with national trade authorities to discuss the primary metal import quota because it is quickly being used up because of a recovery in demand and tighter local supply, the group told Fastmarkets on Thursday September 10."We are observing market necessities and have already asked for a meeting with Secint/Camex to assess th...Read More
The three-month zinc price on the LME was the standout performer during morning trading on Friday September 11, while an 11,500-tonne fresh cancellation pushed LME copper beyond nearby resistance levels.Zinc's price action made a steady return toward key resistance at $2,500 per tonne with its outright price on the LME was recently seen at $2,454.50 per tonne - more than 2% hig...Read More
Prices for cold-rolled and galvanized steel sheet rose after a fresh round of mill price rises enticed more buyers to book tonnage before the summertime pricing rebound gains even more momentum.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US climbed to $35 per hundredweight ($700 per short ton) on Thursday September 10, from $34 per cwt ($680 per ton) on September...Read More
The mood in the Northern European market for hot-rolled coil remained upbeat on Friday September 11, supported by reduced output from domestic mills, long lead times and the absence of "workable" import offers, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.01 ($563.46) per tonne on September 11, down by ?,?0.14...Read More
Strong demand led to an increase in the price of hot-dipped galvanized coil (HDG) and color-coated coil (pre-painted galvanized iron, or PPGI) in Turkey's domestic market in the week to Friday September 11, sources told Fastmarkets.Buyers preferred to secure bookings before prices increase further, they added.Coated coil prices rose in line with increasing production costs because of higher p...Read More
Prices for hot-rolled coil and cold-rolled coil in the Turkish market have continued to strengthen during the week to Friday September 11 and further price increases are expected due to high production costs and strong demand, sources told Fastmarkets.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey was calculated at $297.53 per tonne on Friday, up fro...Read More
Domestic steel rebar prices in Poland remained fairly stable week on week on September 11, while producers considered new hikes for October bookings on steady demand and bullish scrap, sources told Fastmarkets on Friday.Rebar prices in Poland have stabilized after an increase last week, leaving Fastmarkets' latest price assessment for steel reinforcing bar (rebar), domestic, exw Poland at 1,920-1,...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Turkish steel mills stepped out of the market for imports of steel scrap in recent days following a spate of buying in the first half of the week to Friday September 11, while scrap prices in Southeast and East Asia have continued their climb.Turkey goes quiet after latest seven-cargo buying spreeUS export markets inch up following Turkish dealsVietnamese scrap prices increase after Japan auction...Read More
The UK market for deliveries of steel scrap to domestic consumers has risen in September, adding ?10 ($13) per tonne to the earlier ?15 per tonne rise in August, with major shredders competing for scarcer material with smaller scrap suppliers, industry sources said this week.Moreover, a steady rate of export business to deep-sea destinations such as Turkey and the Indian sub-continent has also h...Read More
Prices for import pig iron in the United States rose during the week to Friday September 11 due to higher global prices driven by Chinese demand.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US went up to $368-375 per tonne on Friday from $360-365 per tonne one week earlier.Buyers estimated the market at $365-368 per tonne cfr - although one source said the...Read More
The price of ferrous scrap imports in containers into India moved up this week, despite sentiment being split due to the ongoing pandemic in the country, sources told Fastmarkets on Friday September 11.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $323.20 per tonne on Friday, up from $314.81 per tonne one week previous.Deals for shredded material were h...Read More
Turkish steel mills were quiet in the deep-sea scrap market on Friday September 11, avoiding firm offers and focusing on finished steel sales, sources said.The mills booked seven deep-sea cargoes earlier this week before withdrawing from the market on Thursday.Although offer prices remained firm later in the week, Turkish steelmakers ignored these amid strong supply, according to sources."Supplier...Read More
Export pig iron prices from Brazil went up again during the week to Friday September 11 on new sales.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $360-370 per tonne on Friday, up by $10 per tonne from $350-360 per tonne one week earlier. ...Read More
Seaborne iron ore prices rose on Friday September 11 amid expectations of a restocking of inventory by Chinese steelmakers before a national holiday next month, according to trade sources.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $128.37 per tonne, up by $2.28 per tonne.62% Fe low-alumina fines, cfr Qingdao: $128.18 per tonne, up by $2.03 per tonne.58% Fe fines high-grade premium, cfr...Read More
Seaborne premium hard coking coal prices rose on Friday September 11 after Chinese market participants returned to the market and added impetus to spot trading activity, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $113.38 per tonne, up $1.20 per tonne Premium hard coking coal, cfr Jingtang: $127.59 per tonne, up $0.78 per tonneHard coking coal, fob DBCT: $92.18 per tonne, u...Read More
Trading activity picked up in China's hot-rolled coil market on Friday September 11 in response to rising futures, though prices weakened from a day earlier.DomesticEastern China (Shanghai): 3,890-3,920 yuan ($569-574) yuan per tonne, down 30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,880-3,900 yuan per tonne, down 10-20 yuan per tonneSellers in Shanghai issued offers at 3,890-...Read More
The waiting time for aluminium to be delivered from Istim's warehouses in Port Klang, Malaysia, was 69 days at the end of August, according to the latest London Metal Exchange queue report.This is little changed from the 68-day queue registered at the end of July, which built up after more than 200,000 tonnes of aluminium were cancelled during July. LME aluminium stocks fell by 77,800 tonnes...Read More
In the absence of any dominant themes at present the base metals and broader markets were mixed this morning, Friday September 11, but prices were generally on the back foot following the emergence of some weakness in recent days, especially in US tech shares. Asian-Pacific equities and pre-market major western equity index futures were mixed following another down day in US equities on Thursday....Read More