London Metal Exchange spreads are usually a key driver for duty-unpaid aluminium premiums in Europe but this was not the case toward the end of 2020, leaving market participants wondering what will be main driver in 2021. Since late November, the Rotterdam duty-unpaid premium has been steadily rising despite spreads trading at levels that would usually bring it down. Fastmarkets assessed the ...Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.With 22 months of pre-stripping to be undertaken, production is scheduled for the second semester of 2022. Salvador produced about 60,000t of copper in 2020.Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.Jefferies said the demand would "more than offset" a slowdown in Chinese consumption.Read More

Scoped for growth: Nevada Copper shifts into production modeSPONSOREDnevada copper corp.The state agency said a significant change in the country's production profile was anticipated with existing copper mines expected to reduce their production 31% by 2031 compared with 2019 levels.Read More

The three-month tin price on the London Metal Exchange crossed the $21,200-per-tonne mark while copper edged above $7,900 per tonne during morning trading on Tuesday January 5, with a weak dollar continuing to offset worries about new lockdowns in Europe and the Georgia run-off election in the United States. Tin's forward price stood at $21,215 per tonne as at 9am London time, a 0.8% rise on its M...Read More

Prices for carbon steel plate in the United States spiked after mills accumulated a backlog of unconfirmed order requests that may keep them busy for months and service centers grew more concerned about how long they must wait to officially book spot material. Fastmarkets' weekly price assessment for steel cut-to-length plate carbon grade, fob mill US jumped to $45 per hundredweight ($900 per shor...Read More

Flat steel import prices in the United Arab Emirates and Saudi Arabia remained stable over the past week, although buyers expect new offer prices to be higher, sources said on Tuesday January 5.Prices were unchanged because of the recent Christmas and New Year holidays in most parts of the world, sources added.Buyers are expecting to see higher prices because China's hot-rolled coil pric...Read More

Turkish exports of flat steel products increased by 2.46% year on year to 416,333 tonnes in November 2020, according to figures recently released by the Turkish Statistical Institute (TUIK).This compared with a volume of 406,321 tonnes in November 2019, TUIK said.Despite the increase in the total exported volume, Turkey's hot-rolled coil flat steel exports decreased by 25.28% to 186,574 tonnes in...Read More

Domestic transaction prices for hot-rolled coil were largely stable day on day in Northern Europe on Tuesday January 5, as market activity remains slow after holidays. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?666.25 ($817.06) per tonne on Tuesday January 5, down by just ?,?0.42 per tonne from ?,?666.67 per tonne on Monday. The index was, how...Read More

The export market for steel billet originating in the Commonwealth of Independent States (CIS) has remained quiet this week with most producers still out of the market for holidays, although sentiment remained upbeat, sources told Fastmarkets on Tuesday January 5.Most CIS mills were out of the market for new year and Christmas holidays and were expected to come back next week, sources said.There a...Read More

Steel rebar and billet prices in the United Arab Emirates increased this week because of higher offers and assessments, but market activity was yet to resume after the end-of-year period, sources said on Tuesday January 5. Domestic rebar The country's steel producers sold rebar at 2,259-2,295.5 dirhams ($615-625) per tonne ex-works the week before for orders to be produced in January and have clos...Read More

Flat steel prices in Turkey continued to increase in the week to Thursday December 31, but buying was weak because most buyers were busy with inventory calculations, sources told Fastmarkets.Additionally, hot-rolled coil (HRC) prices fell during the week in China because of weak trading, which created market concerns about whether global flat steel prices would follow, trading sources said.Fastmar...Read More

Turkey imported 616,408 tonnes of flat steel in November 2020, up by 12.2% from the corresponding month in 2019 when 549,549 tonnes arrived in the country, the Turkish Statistical Institute (TUIK) said last week. Orders for flat steel arriving in November were placed in August and September when there was moderate demand for the material in Turkey. There were several bookings reported fo...Read More

NetEase (NTES), a NASDAQ 100 stock moved above $98.18 resuming an intermediate uptrend. Rogers Communications (RCI), a TSX 60 stock moved above US $47.77 extending an intermediate uptrend. Pre-opening Comments for Tuesday January 5thU.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. Investors are bracing for results from the two Geo...Read More

Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5.* Control of US Senate, with the run-off elections in Georgia, could be market-moving...* ...two democratic wins would strengthen President-elect Joe Biden’s hand a...Read More

Turkish steel mills remained quiet in the deep-sea scrap markets on the second working day of the week, while the market was generally slow during the new year holidays, sources said on Tuesday January 5.Market participants believed that the mills in Turkey would be out of the market until next week, when they are expected to start their purchases for February-March cargoes.Turkish steelmakers hav...Read More

Russia's government has done as was expected and has approved an increase in the export duty to be applied to ferrous scrap for the next six months.Approval of the decision to increase the duty was published in an official notice on the government's website on December 31, 2020.Consequently, the export duty on steel scrap exports from Russia will be 5%...Read More

The cfr premium hard coking coal price jumped again on Tuesday January 5 after two transactions were sealed at higher prices.The fob market, meanwhile, remained relatively quiet, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $103.74 per tonne, up $0.25 per tonnePremium hard coking coal, cfr Jingtang: $207.44 per tonne, up $4.27 per tonneHard co...Read More

Iron ore prices increased on Tuesday January 5, with active trading in the seaborne and port markets supported by record high prices in coke futures, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $167.86 per tonne, up $2.57 per tonne62% Fe low-alumina fines, cfr Qingdao: $168.00 per tonne, up $2 per tonne58% Fe fines high-grade premium, cfr Qingdao:&nbs...Read More

Brazil's iron ore exports increased by a third in December compared with a year earlier, according to statistics from the country's economy ministry.It shipped 33.17 million tonnes of the steelmaking raw material last month, compared with 24.99 million tonnes in December 2019.Strong demand for steel in in China has...Read More