Key data from the Friday November 6 pricing session in London.Key drivers Strong hydroxide payables continued to help keep prices firm amid weak demand for standard and alloy grade cobalt.Producers and distributors aired concerns about metal demand, reporting aggressive bids and some are considering going below the current range. ...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
The key global scrap markets surged upward in the week to Friday November 6, as a result of strong purchasing activity, with Turkey continuing to buy a large volume of cargoes for a third week.Turkey books more material on positive long-steel export salesUS reports bookings from East and West CoastsGood demand boosts Taiwan scrap pricesVietnam moves up despite quiet marketIndian prices jump on tig...Read More
The price of shredded steel scrap imported into India and Pakistan moved up on Friday November 6 as a result of tight material supply, sources have told Fastmarkets.Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $330.32 per tonne on Friday, up from $321.21 per tonne one week earlier.A deal for shredded material was heard at $325-326 per tonne cfr, and a...Read More
Prices for inter-merchant light iron scrap in the UK market were stable over the week to Friday November 6, extending a steady trend for the fourth consecutive week on firm domestic fundamentals and cemented by active export trading, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?95-105 ($124-137) per...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
Bullish momentum has extended in China's battery-grade lithium carbonate market at the start of November with most producers pushing offer prices higher on reduced availability of material, sources told Fastmarkets on Thursday November 5.Bullish sentiment continued to spread in China's battery-grade lithium carbonate market with higher offers reported.China's lithium hydroxide prices declined due...Read More
Domestic prices for hot-rolled coil in Northern Europe moved up slightly day on day on Friday November 6, due to long lead times at European mills and a lack of import offers, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?512.53 ($604.08) per tonne on Friday, up by ?,?1.19 per tonne from ?,?511.34 per tonne on Thursday.T...Read More
Flat steel prices in the Turkish market increased sharply during the week to Friday November 6, with all prices going up by $30-60 per tonne on strong demand because of low stock levels, sources told Fastmarkets.Demand was good this week because stockists, steel service centers and end-users all had low stocks that needed to be replenished.Domestic pricesFastmarkets' weekly price assessment for st...Read More
China's hot-rolled coil exporters raised their prices on Friday November 6 amid domestic gains, while the weakening US dollar added fuel to the fire, sources said.DomesticEastern China (Shanghai): 4,040-4,060 yuan ($610-613) per tonne, up 30 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,820-3,860 yuan per tonne, up 60 yuan per tonneDomestic HRC prices continued their incline on Fr...Read More
Steel demand is expected to remain supported through the end of 2020 in Brazil, with consumption from some sectors - and construction in particular - forecast to grow from 2019 levels, ArcelorMittal's chief financial officer Aditya Mittal said on Thursday November 5."We see demand coming back in various sectors. And in some sectors, like construction in Brazil, we see full-year demand actually hig...Read More
Zinc concentrate treatment charges continued to slide in October, falling to a 26-month low with near-term demand continuing to outweigh immediate supplies of material, Fastmarkets has heard.Fastmarkets' latest monthly assessment for zinc spot concentrate TC, cif China, was $85-105 per tonne on Friday October 30, down by 13.6% from $100-120 per tonne on September 25.The market for zinc concentrate...Read More
Three-month base metals prices on the London Metal Exchange were mixed at the close of trading on Thursday November 5, with a prolonged US election process limiting investor sentiment despite a continued decline in the US dollar index, while aluminium's forward spreads widened over the afternoon.Aluminium's underlying price on the LME closed at $1,897.50 per tonne on Thursday afternoon, declining...Read More
As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material's market direction. The London Metal Exchange three-month price hit $1,913 per tonne on Wednesday November 4 - the highest since April 2019 - and closed trading at $1,908.50 per tonne at the LME 5pm ring kerb. The aluminium price has been on an upward trajectory over t...Read More
Zinc concentrate treatment charges continued to slide in October, falling to a 26-month low with near-term demand continuing to outweigh immediate supplies of material, Fastmarkets has heard.Fastmarkets' latest monthly assessment for zinc spot concentrate TC, cif China, was $85-105 per tonne on Friday October 30, down by 13.6% from $100-120 per tonne on September 25.The market for zinc concentrate...Read More
As the aluminium price surges to an 18-month high, alumina market participants are debating how it is influencing the raw material's market direction. The London Metal Exchange three-month price hit $1,913 per tonne on Wednesday November 4 - the highest since April 2019 - and closed trading at $1,908.50 per tonne at the LME 5pm ring kerb. The aluminium price has been on an upward trajectory over t...Read More
It has been two weeks since South Africa's cabinet approved a chrome ore export tax to support its chrome sector, and Chinese buyers say they would have little option but to accept the higher costs. China is the world's largest chrome ore importer and would therefore bear the brunt once the export tax is carried through. But the East Asian country has no choice but to brace for the price rise beca...Read More
Vale has entered into a 30-day exclusivity agreement to discuss the sale of nickel-cobalt operation Vale New Caledonia (VNC) with a consortium comprised of current management and employees of the unit, as well as state investors and Swiss trading firm Trafigura, the Brazilian mining company said on Wednesday November 4.Vale's subsidiary Vale Canada is carrying out negotiations, which include, "out...Read More