Brazilian domestic prices for flat steel products were stable this past month despite attempts from steelmakers to apply price increases.Some mills have been trying to raise prices due to decreasing competition from imported material, but low demand has been hampering those efforts.Local steelmaker Usiminas announced on October 28 that it was applying an increase of 5% in prices to distributo...Read More
Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a lack of spot deals while annual contract negotiations kicked off during the annual London Metal Exchange Week gathering this week.Fastmarkets' copper treatment and refining charges index cif Asia Pacific was at $56.3 per tonne/5.63 cents per lb as of Friday November 1, compared with $55.9/ 5.59 cents a week earlie...Read More
Aluminium closed at its highest in six weeks on the London Metal Exchange on Friday November 1 while copper also continued its recovery. The three-month aluminium closed at $1,786 per tonne this afternoon after peaking earlier at $1,790 per tonne. More than 18,000 lots changed hands by the close, the highest one-total since July. Still, market participants must factor in costlier financing conditi...Read More
The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More
Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a lack of spot deals while annual contract negotiations kicked off during the annual London Metal Exchange Week gathering this week.Fastmarkets' copper treatment and refining charges index cif Asia Pacific was at $56.3 per tonne/5.63 cents per lb as of Friday November 1, compared with $55.9/ 5.59 cents a week earlie...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday November 1.China Imported UG2 chrome ore prices dropped by 4% because of lower offers from suppliers. Conditions had been stagnant in recent weeks. Turkish lumpy chrome ore prices softened in response to weak demand. In light of the lower chrome ore offers at the start of the week, Tsingshan Group.....Read More
The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More
Traxys has signed a multi-year deal to sell cobalt metal and hydroxide produced by Norilsk Nickel. Under the terms of the deal, Traxys will commercialize all Norilsk material not sold in the Russian market, Fastmarkets understands. The deal...Read More
Government subsidies are a necessary part of early electric vehicle adoption but EVs will have mainstream usage without the need for incentives in the long term, panelists said at the LME Metal Seminar this week. EV adoption has come at a slower pace than previously expected, coinciding with cuts in government subsidies in China. In March this year, Beijing announced a 50-60% reduction in subsidie...Read More
Major holidays in Turkey resulted in thin spot liquidity in the global scrap markets in the week ended Friday November 1, with US exporters seeing limited sales to the major import market.But prices in Asia have surged following those in the rest of the world, with Vietnamese buyers accepting higher prices. Taiwanese demand eased slightly after the flurry of purchasing activity last week. Turkey m...Read More
Austenitic alloy steel scrap prices in the UK domestic market narrowed downward this week amid continued weak demand, sources told Fastmarkets on Friday November 1.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?750-780 ($970-1,009) per tonne on November 1, down by ?20 per tonne on the high end.Similarly, Fastmarkets' price...Read More
The price of ferrous scrap imported into India has risen for the fourth consecutive week, mirroring a similar trend in nearby Pakistan, sources told Fastmarkets on Friday November 1Fastmarkets' calculation for the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $276.57 per tonne on Friday, up from $268.23 per tonne a week earlier.Deals for shredded material into India t...Read More
A summary of the production results of Russian multi-metal miner Norilsk Nickel (Nornickel) for the third quarter and first nine months of 2019.In briefNornickel's copper and nickel production both rose by 6% in January-September 2019 from a year earlier owing mainly to productivity improvements.The increase in copper output in the first nine months of the year was primarily the result of the ramp...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets' price assessment for standard-grade cobalt, in-whs Rotterdam, $/lbClick here for...Read More
Government subsidies are a necessary part of early electric vehicle adoption but EVs will have mainstream usage without the need for incentives in the long term, panelists said at the LME Metal Seminar this week. EV adoption has come at a slower pace than previously expected, coinciding with cuts in government subsidies in China. In March this year, Beijing announced a 50-60% reduction in subsidie...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
Demand for flat steel was soft in Turkey in the week ended Friday November 1, with import prices for both hot-rolled coil and cold-rolled coil going down, although domestic and export prices remained unchanged.Flat steel buyers wanted to see if producers will insist on high prices when demand is weak and whether any increases will stick, given the poor demand from final-product users. They were ex...Read More
Turkish prices for hot-dipped galvanized coil (HDG), and color-coated coil or pre-painted galvanized iron (PPGI), were stable in the week ended Friday November 1 with demand remaining weak, sources told Fastmarkets.A recent increase in raw material prices had given rise to the possibility of higher coated flat steel prices, but buyers said they believed this would not be accepted by the market due...Read More
Brazilian rebar prices climbed further in October as a previously attempted increase from producers is slowly being implemented, according to market participants.Fastmarkets assessed the price for steel reinforcing bar (rebar) domestic monthly, delivered Brazil, at 2,220-2,320 Reais ($555-580) per tonne on Friday November 1, up in comparison with 2,165-2,300 Reais per tonne a month before.Although...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More