Fastmarkets' copper concentrates treatment charge/ refining charge (TC/RC) index fell to an all-time low since 2013 in the week to Friday November 27. Offers to smelters were maintained in the $40s with purchases reported in the high $40s for 2021 January shipment and the low $50s for slightly complex concentrates, which were excluded from the index calculation. Only hand-to-mouth purchases w...Read More

Except lead and tin, base metals' deliverable stocks in Shanghai Futures Exchange-registered warehouses declined in the week to Friday November 27, with nickel inventories down by 7.7%, the highest decline in percentage terms. Nickel stocks fell by 1,944 tonnes week on week to 23,406 tonnes, with the largest outflow of 1,036 tonnes leaving Zhongchu Dachang warehouse in Shanghai, which reported sto...Read More

Copper and nickel continued their bullish momentum on Friday morning, with the red metal surpassing $7,500 per tonne - a price last seen in June 2013.Copper's three-month price was at $7,495 at 9:05am, but it rose in the minutes that followed to a high of $7,511 per tonne, surpassing a high intraday price of $7,500 per tonne last recorded on June 5 2013. Compared with Thursday's closing...Read More

One consumer and several trading houses in Japan confirmed they received offers for the first-quarter 2021 supply of aluminium to main Japanese ports (MJPs) from two producers at a premium of $138 per tonne over the London Metal Exchange cash price, market sources said on Friday November 27.Offers at $138 per tonne are 57.8% higher than the cif MJP premium for the fourth quarter of 2020, which set...Read More

The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.Chinese industrial profits surged by 28.2% year on year in October - the fastest pace since early 2017 Base metals The three-month base metals prices on the London Metal Exchange were up across the board this morning with gains averaging 0.5% - led by a 0.9% rally in nickel to $16...Read More

Mexican steel company Grupo Acerero del Norte (GAN), which controls integrated steelmaker Altos Hornos de M?(C)xico (Ahsma), has authorized further negotiations for a potential partnership with Grupo Villacero.The partnership would aim to recapitalize the company, and would be subject to approval by Mexican competition regulator Cofece. Approval was granted by a shareholders' meeting on Thursday N...Read More

Brazilian steelmakers' association Instituto A??o Brasil revised its forecast for the country's steel market for the last time this year on Friday November 27, reversing its expectations for a year-on-year sales volumes increase in 2020.The institute changed its estimates for domestic steel shipments to 18.89 million tonnes this year, 0.5% higher than 18.8 million tonnes last year. This reverses a...Read More

Brazilian flat steel producer Usiminas believed there was room for an additional price increase in the country's domestic market because of the current high prices of steel globally, it said on Friday November 27.The company considered the prices of domestically produced material to be "slightly lower" than the prices of imported steel."Considering the current difference [in prices], there are con...Read More

Italian trade unions representing the country's steelworkers have been concerned about the future of the Taranto steel plant and the jobs there because of an expected change in ownership of flat steel producer ArcelorMittal Italia, trade union Fiom-Cgil said on Wednesday November 25.The union said that, in a few days' time, Italian authorities and the management of ArcelorMittal Italia would final...Read More

A third tender for the sale of struggling steel plate producer Huta Czestochowa was expected in January 2021 with the starting price being reduced, several sources told Fastmarkets on Friday November 27.The third tender was expected to take place in January from a starting price at 190 million Polish zloty ($50.6 million). This would be down from 220 million zloty in the second tender, held in Jul...Read More

Indian steel mills were likely to increase the domestic price of hot-rolled coil by 1,500-2,000 rupees ($20-27) per tonne for December sales, Fastmarkets heard on Friday November 27.The likely rise in domestic HRC prices in early December would be in line with the rising price of the commodity in the international markets as well as the steady rise in the costs of raw materials such as iron ore...Read More

Rebar producers in Egypt added E ?500-650 per tonne ($32-41) per tonne to their rebar prices on Friday November 27.The country's biggest producer Ezz Steel is now offering rebar at E ?11,100 per tonne ex-works, including 14% VAT, up from E ?10,600 per tonne ex-works.Read More

The base metals remain buoyant on good volumes this morning, Friday November 27, but equity indices were looking mixed.Chinese industrial profits surged by 28.2% year on year in October – the fastest pace since early 2017Base metalsThe three-month base metals prices on the London Metal Exchange were up across the board this morning with gains averaging 0.5% – led by a 0.9% rally in nicke...Read More

U.S. Dollar ETN (UUP) moved below $24.80 extending an intermediate downtrend. The U.S. Dollar Index is testing support at 91.75.Costco (COST), an S&P 100 stock moved above $389.50 to an all-time high extending an intermediate uptrend.Pre-opening Comments for Friday November 27thU.S. equity index futures were higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Trading...Read More

The import price on pig iron price in the United States increased sharply during the week to Friday November 27 because buyers badly needed to restock.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $450 per tonne on Friday, soaring from $392-395 per tonne a week earlier.At the very start of this week, a Russia-origin cargo was booked by a steel producer at...Read More

The price of shredded steel scrap imported into India and Pakistan moved up on Friday November 27, due to continuing logistic issues and a rising international market, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $365.18 per tonne on Friday, up from $355.76 per tonne one week earlier.Just one deal was reported this w...Read More

The November rally in the UK light iron market looked set to move into December as of Friday November 27, climbing on firm fundamentals of relatively low levels of scrap availability, steady domestic demand and strong export activity. The rally started three weeks ago when major scrap processors started to increase their buying prices to attract more scrap from smaller suppliers, with all scrap tr...Read More

Brazil's Usiminas is expecting production from its mining division Minera????o Usiminas (Musa) to remain relatively stable in the coming years at 8-9 million tonnes per year of iron ore, chief financial officer Alberto Ono said on Friday November 27. Musa's output was 7.39 million tonnes in 2019. It produced 6.49 million tonnes in the first nine months of 2020, 21% more than 5.35 million tonnes in...Read More

Prices for pig iron exported from Black Sea ports increased by around 15% over the past week because of strong demand and a shortage of material, sources told Fastmarkets.Further price increases from the Black Sea ports - the main route for shipments from the Commonwealth of Independent States (CIS) - are expected, sources said.Fastmarkets' weekly price assessment for high-manganese...Read More

Iron ore prices increased further on Friday November 27, supported by declining port inventories and strong demand for steel, sources told Fastmarkets,Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.62 per tonne, up $1.23 per tonne62% Fe low-alumina fines, cfr Qingdao: $129.84 per tonne, up $1.74 per tonne58% Fe fines high-grade premium, cfr Qingdao: $121.38 per tonne,...Read More