Q3 production was 256,464 gold equivalent ounces, up by 6.7% year-on-year and 2-3% above forecasts by analysts at Peel Hunt.Read More
Indian domestic secondary billet prices increased slightly by end of the week to Friday October 29 on renewed buying interest and rising raw material prices.Fastmarkets' price assessment for steel billet domestic, ex-works India was at 46,500-46,700 rupees ($620.03-622.70) per tonne on Friday, up by 200 rupees compared with the previous week's assessment of 46,300-46,500 rupees per tonne ex-works....Read More
Copper smelters returned to the spot market this week with treatment and refining charges (TC/RC) relatively stable.For smelter purchases, clean tonnages for shipment in the fourth quarter and in January were seen with TCs in the low $60s. One extra clean cargo sold in the high $50s, while a lower-grade cargo of...Read More
Secondary alloy prices in the United States climbed again sharply on Thursday October 28, with strong demand, low supply and soaring raw material prices, especially for silicon, combining to drive transactions higher."Silicon is expensive and supply is tight," one producer said simply. "Alloy is very firm due to [the] spike in silicon prices and increasing manufacturing cost," a second...Read More
Q3 production from Chaarat's Kapan mine in Armenia amounted to 13,224 ounces of gold equivalent, with average grades up 2% yoy at 2.Read More
Mill-grade aluminium scrap prices declined week on week following decreases in primary aluminium prices on the London Metal Exchange, while the non-ferrous auto shred (twitch) price remained supported by solid export demand.Fastmarkets' assessment of the segregated low copper alloy clips 5052, mills specialty consumers' buying price, fob shipping point US decreased by 9 cents to $1.33-1.37 pe...Read More
A summary of production figures and financial results for Chilean state-owned copper producer Codelco in the first nine months of 2021, as stated in its earnings report released on Friday October 29.In brief Higher copper content in mined ore in the year to date offset a strike at the Andina division from August through September, boosting overall copper production in the first nine months of 2021...Read More
Base metals prices on the London Metal Exchange closed lower on a week-on-week basis on Friday October 29, after Chinese state planners intervened to cool surging thermal coal prices this week.The LME three-month aluminium price closed at $2,716 per tonne on October 29, down from $2,746 per tonne at Thursday's close and was down by nearly 5.3% from last Friday's $2,868 per tonne. The price is also...Read More
The recent decline in aluminium prices stoked bearish sentiment in the alumina market, pushing prices down 5% on Friday October 29.Fastmarkets calculated its daily alumina index, fob Australia at $452.16 per tonne on Friday, down from $476.73 per tonne on Thursday.A deal was reported on Friday for 30,000 tonnes at $450 per tonne fob Western Australia, for loading in the second half of November loa...Read More
Changes to deliverable stocks of base metals in Shanghai Futures Exchange warehouses were mixed during the week to Friday October 29, with copper registering the most gain in percentage terms and tin leading the declines.Copper inventories grew by 9,488 tonnes (23.8%) to 49,327 tonnes, from 39,839 tonnes on a weekly basis. The largest inflow was from SIPG Logistics' warehouse in Shanghai, where vo...Read More
Carbon steel plate prices in the United States were stable on Friday October 29 but are expected to rise soon, with market participants saying recent mill price hikes will likely be accepted but have not quite hit spot prices.Fastmarkets' cut-to-length plate, fob mill US price was assessed at $89 per cwt ($1780 per short ton) on Friday October 29, flat since October 1 and at an all-time...Read More
Prices for domestic and imported merchant bar quality (MBQ) steel in the United States were flat in October for the second consecutive month following two rounds of mill base price increases in July and August.Fastmarkets' monthly assessment for steel bar 2 x 2 x 1/4 -inch angle merchant products, fob mill US was $58.30 per hundredweight ($1,116 per short ton) on Friday October 29, unchanged fro...Read More
Hot-rolled coil prices in the United States dipped for the third time in five days but still managed to end the week slightly above $95 per hundredweight ($1,900 per short ton), with sources questioning whether a "market correction" is at hand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $95.15 per cwt ($1,903 per ton) on Friday October 29, down by 0.45% from $95.5...Read More
Slab export prices from Brazil inched up in the week ended Friday October 29, but the market remained calm, with most producers already having sold their December-shipment batches.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $730-740 per tonne on Friday October 29, up from $720-740 per tonne a week earlier.The higher...Read More
Reduced market liquidity between monthly negotiations and lower offers from China pressured imported flat-rolled steel prices lower in South America during the week ended Friday October 29.Most customers had already satisfied their December needs during the previous week and refrained from ordering more, according to market participants. They were also again weighing the risk that would result fro...Read More
Prices for cold-rolled and galvanized steel sheet in the United States were flat on Thursday October 28, with many market participants relying on existing inventory or foreign steel purchases while they wait for mill prices to drop.Fastmarkets' weekly assessment for steel cold-rolled coil, fob mill US was unchanged from the previous week at $108 per hundredweight ($2,160 per short ton) on October...Read More
Steel beam prices were flat in the United States' domestic and import markets on Thursday October 28 following three rounds of mill price increases over the summer and bringing a welcome pause to upward pressure in market that has been tightly supplied.Fastmarkets' monthly assessment for steel beams 8- x 8-in, fob mill US was $68 per hundredweight ($1,360 per short ton) on Thursday October 28, unc...Read More
Prices in the Brazilian flat steel market were expected to stabilize following recent discounts made to distributors, according to steelmaker Usiminas.Since September, flat steel distributors have been receiving discounts of 7%, according to Usiminas' commercial vice president, Miguel Homes."We foresee a stability in prices during the fourth quarter [of 2021]," Homes said on Friday October 29.Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 29.Susan Zou, Yingchi Yang and...Read More
U.S. equity index futures were lower this morning following release of lower than consensus quarterly results and guidance by Amazon, Apple and Starbucks. S&P 500 Index dropped 19 points in preopening trade. U.S. equity index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for September Personal Income was a slip of 0.1% versus a gain of 0.2% in Au...Read More