Members of the incoming European Commission, expected to take office in November, have released more details of a planned "carbon border tax", which could levy charges on metal imports into the European Union. Products affected would be those deemed by the EU as manufactured with excessive carbon emissions. While details of what will be covered, and under what circumstances, will be included in a...Read More
US President Donald Trump said on Monday October 14 that he will impose a 50% tariff on imports of steel from Turkey in response to that country's military actions in northeastern Syria.However, market participants believe such a move will have a minor impact on the Turkish steel sector, because Turkey's steel exports to the United States are already limited because of weak demand.BilletA trader f...Read More
Electric vehicles (EVs) are forecast to reach cost and functional parity with internal combustion engine (ICE) vehicles by 2025. Theoretically, this should create the global tipping point for mass market EV adoption, along with the development of the associated charging infrastructure required to accompany the growth.In practice, it is not quite as straightforward.A recent report by investment res...Read More
The world's largest low-grade iron ore producer has confirmed that it will bid for two blocks at what is considered the world's largest untapped high-grade ore resource, a move that reiterates what the industry has been saying over the past few years - that demand for green iron ore or high-grade ore is a structural change in the making."Following the release of information at a public meeting hel...Read More
An increase in copper concentrate treatment and refining charges (TC/RCs) so far this month reflects a drop in the number of spot deals ahead of annual contract negotiations that are set to start during the annual London Metal Exchange Week gathering. With major smelters well stocked, bids are close to the new quarterly price floor set by the China Smelters Purchase Team (CSPT). Traders, meanwhile...Read More
Three-month prices of base metals traded on the London Metal Exchange, with the exception of tin and lead, were buoyed by a weaker US dollar to close up at the afternoon kerb on Friday October 18.The LME three-month copper price finally began to make gains, closing up 1.1% at $5,806 tonnes from yesterday's $5,739 per tonne close. Much has been made of copper futures' lack of reaction to tightening...Read More
The alumina price on a fob Australia basis has stabilized just below $280 per tonne in the week ending Friday October 18, after a flurry of deals over the past week. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $278.25 per tonne on Friday, down from $277.14 per tonne on Thursday. It has hovered between $277 and 278 per tonne over the past week. Key drivers: ...Read More
Rio Tinto's copper and aluminium production dropped due to unexpected shutdowns during the third quarter.The company's Yarwun alumina refinery in Australia shut over the third quarter for 35 days; the shutdown has since ended.Total alumina production was down by 7% during the third quarter at 1.8 million tonnes.At $278.25 per tonne, the Fastmarkets Alumina index, fob Australia has sunk to around t...Read More
An increase in copper concentrate treatment and refining charges (TC/RCs) so far this month reflects a drop in the number of spot deals ahead of annual contract negotiations that are set to start during the annual London Metal Exchange Week gathering. With major smelters well stocked, bids are close to the new quarterly price floor set by the China Smelters Purchase Team (CSPT). Traders, meanwhile...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday October 18. China The imported UG2 chrome ore price weakened after sales of MG grade ore were concluded at lower prices, while ample availability of UG2 in ports weakened market sentiment at a time of low demand. The spot ferro-chrome price softened on...Read More
An overview of the minor metals markets and the reasons for their latest price moves. Read More
The whereabouts of minor metal stocks held by the now defunct Fanya Metals Exchange has been a weight on the outlook of minor metals prices and contract negotiations since the exchange collapsed in 2015. The whereabouts of minor metal stocks held by the now defunct Fanya Metals Exchange has been a weight on the outlook of minor metals prices and contract negotiations since the exchange collapsed i...Read More
Global scrap prices in all the major markets recovered during the working week ended Friday October 18, boosted by lower material availability and rising Turkish import prices. Turkish import prices up as mills resume November buying US export prices up on bulk sales to Turkey Taiwan import prices up on reduced supply, Vietnam import prices stable Indian import prices up in line with Turkish marke...Read More
The inter-merchant spot market for UK-origin light iron scrap was steady in the week ended Friday October 18, extending a run of stability into a third week amid a recovery in European steel scrap export prices.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($77-102) per tonne on Friday. The market is around where it was when...Read More
Turkish steel producers have continued their deep-sea scrap bookings for November shipments at steady prices, sources said on Friday October 18.Steel mills in the country had resumed their deep-sea purchases on Thursday October 17 with slightly higher prices amid tight supply.A steel mill in the Marmara region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr.Ano...Read More
China's domestic spot battery-grade lithium compound prices softened this week, attributed to widespread negative short-term sentiment due to slow downstream buying. The Chinese Lithium carbonate price fell on a weak demand outlook. Lithium hydroxide sellers to the domestic Chinese market said it was difficult to seal deals Asian cif China, Japan & Korean prices rangebound. Thin activity...Read More
Import prices for hot-rolled coil and cold-rolled coil (HRC, CRC) into South America have fallen in the week ended Friday October 18, with producers from many regions competing for clients.Offers from the Commonwealth of Independent States (CIS), Brazil, Japan and China reached South American buyers at lower levels than last week.Fastmarkets assessed the price for steel HRC, import, cfr main ports...Read More
Demand for flat steel was still soft in Turkey in the week ended Friday October 18 because of falling steel prices globally, but sentiment was better than in previous weeks because of the halting of a Turkish military operation in Syria.International politics have a significant bearing on trade in the region at the moment. US President Donald Trump has been widely criticized for his decision to wi...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and pre-painted galvanized iron (PPGI) fell in the week ended Friday October 18, with demand remaining weak, sources have told Fastmarkets.International politics have a significant bearing on trade in the region at the moment. US President Donald Trump has been widely criticized for his decision to withdraw US forces from an area of northern Syri...Read More
Indian local secondary steel billet prices rose by 400 rupees ($6) per tonne over the past week after a rise in finished long product prices and in expectation of production cuts by billet manufacturers, sources told Fastmarkets on Friday October 18.Fastmarkets' weekly price assessment for steel billet domestic, ex-works India, was up by 400 rupees per tonne to 26,600-26,800 rupees per tonne...Read More