All metals except for zinc and aluminium fell from their recent psychological levels on the morning of Friday May 21, with selling on the London Metal Exchange still present while macroeconomic headwinds continue to affect the complex.Copper's three-month price was down to $9,970 per tonne on Friday at 9am from Thursday's close at $10,048 per tonne, which had been a slight $40 rebound on the previ...Read More
A significant rise in the LME lead price on Thursday May 20, was the outlier in the base metals complex, with its peers having a mixed day following Wednesday's selling session.Lead's three-month price was up by 1.95% at the close on Thursday to $2,217 per tonne, from $2,174.50 per tonne at 5pm on Wednesday, which was the biggest rise on the day and in stark contrast with the rest of the base meta...Read More
The Chilean Copper Commission, Cochilco, raised its average price forecast for this year to $4.30 per lb on May 19, given an expected deficit of refined copper for the 2021-2022 period, it said.Cochilco revised the price up from a prediction of $3.30 per lb in January 2021, with its executive vice president Marco Riveros citing the global deficit together with reduced inventories in metal exchange...Read More
Seaborne iron ore prices fell on Thursday May 20 amid falling steel prices and overall weakened demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $211.85 per tonne, down $4.31 per tonne 62% Fe low-alumina fines, cfr Qingdao: $214.07 per tonne, down $4.72 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $180.81 per tonne, down $4.90 per tonne 65% Fe Brazil-orig...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...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 p...Read More
Domestic prices for steel wire rod in Poland surged during the week to Friday May 21 on short supply and increased feedstock costs, with an uptrend expected to persist in the short-term, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland was 3,650-3,700 zloty ($988-1,001) per tonne on Friday, up 300-400 zloty from 3,250-3,...Read More
Poland rebar producers were largely holding back on offering and taking a wait-and-see stance amid an unprecedented price surge, while secondary market prices continued rising on support from strong demand, limited supply and increased scrap costs, sources told Fastmarkets on Friday May 21.Local mills had reportedly withdrawn their rebar offers this week and are expected to come back next week, ma...Read More
London Metal Exchange base metals prices sold off in end-of-week trading on Friday May 21, with copper, nickel and aluminium closing at their lowest levels since April. Three-month copper futures closed at $9,881.50 per tonne at 5pm, down $166.50 (1.7%) against yesterday's close. Importantly, the red metal finished the week below the symbolic $10,000 per tonne, coming as the physical market for re...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) index continued to rebound this week with Chinese smelters carrying on purchasing in the mid-to-high $30s and 3 cents, sources told Fastmarkets.Fastmarkets copper concentrate TC index, cif Asia Pacfic was at $29.70 per tonne/ 2.97 cents per lb on May 21, its highest level since March 5. Bids came in...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...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.Fastmarkets assessed Cobalt standard grade,...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....Read More
Prices for Chinese stainless cold-rolled coil weakened over the past week on selling pressure and a falling nickel market.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday May 19 at $17,702 per tonne, down by $240 per tonne from $17,942 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,500...Read More
Russia's Ministry of Industry and Trade is proposing to double the export duty on ferrous scrap to ?,?90 ($109.82) per tonne in a bid to halt export growth and stabilize domestic prices of the raw material and steel products.The previously imposed rate of ?,?45 per tonne has not been enough to secure sufficient domestic supply of scrap and prevent excessive exports, the ministry said.The exis...Read More
Prices for steel scrap imported into China inched up on Friday May 21 amid an increase in activity in finished steel products markets compared with earlier this week.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $520-530 per tonne on Friday, up by $10-20 from $500-520 per tonne a day ea...Read More
Hot-dipped galvanized coil prices in Turkey increased during the week to Friday May 21 while demand was strong, sources told Fastmarkets.Demand was strong in the domestic and export markets, with several deals heard during the week, Fastmarkets was told.HDG prices continued their uptrend in Europe, one of the biggest export markets for Turkish HDG, sources said.The price increases were moderate du...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang,...Read More
Import prices for flat-rolled steel had no clear trend in South America during the week ended Friday May 21 amid lower Chinese offers and buyers accepting higher prices from other origins, market participants said.Fastmarkets' assessment for steel plate import, cfr main ports South America, was $1,100-1,140 per tonne on Friday, up by $60-100 from $1,000-1,080 per tonne a week earlier.While some Ch...Read More
Key data from Fastmarkets' pricing sessions in Europe, India, the United States and China on Friday May 21. Europe The manganese alloys markets jumped in line with inter-merchant demand ahead of expected renewed activity from steel mills in June for third-quarter delivery settlements. This prompted more buying interest for short covering as it soon became clear there was a shortage of...Read More