The market for flat-rolled aluminium is robust at present, but uncertainty surrounding the direction of the volatile US Midwest premium, and the potential for more disruptions from the continuing Covid-19 pandemic, have made it difficult for Novelis to plan and navigate the markets.United States-based Novelis is a world leader in the rolling and recycling of aluminium. Its senior vice president an...Read More
Fastmarkets is launching two new coefficients for the copper concentrates market, with an update to be published for the first time on Friday November 6.The new coefficients, MB-CU-0422 - Copper concentrates counterparty spread and MB-CU-0423 - Copper concentrates Co-VIU, will build on the success of Fastmarkets' index reporting on the copper concentrates market, which started...Read More
Copper concentrate treatment and refining charges (TC/RCs) rose in the week to Friday November 6, with market liquidity seasonally lower at a time when miners and smelters are discussing annual contracts. Fastmarkets' benchmark copper concentrates TC/RC index, cif Asia Pacific was at $46.4 per tonne / 4.64 cents per lb on Friday, reaching a four-month high. Highlights of the week -...Read More
Noranda Income Fund (NIF) has extended its exclusive agreements with Glencore Canada for the purchase of zinc concentrate and the sale of zinc metal for an additional three years through to April 30, 2025.The agreement will renew automatically for five-year terms after it expires, unless Glencore Canada opts not to renew. The Toronto, Canada-listed company said the agreement's non-renewal notice p...Read More
Though confirmed deals lowered hot-rolled coil prices in the United States on Friday November 6, the spot market may well hit $35 per hundredweight ($700 0per short ton) soon due to limited availability and rising raw material costs, according to sources.Fastmarkets' daily hot-rolled coil index, fob mill US was calculated at $34.43 per cwt ($688.60 per ton) on Friday, down 1.1% from $34.82 pe...Read More
Prices for cold-rolled and galvanized steel sheet in the United States strengthened again after buyers said they were ready to order spot material and mills expressed uncertainty over when availability would open up. HDG prices rose for the 13th consecutive week.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US climbed to $43 per hundredweight ($860 per short ton) on Thu...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
Automakers in Brazil expect that ongoing negotiations for annual price contracts with steel producers will be "tough on both sides," according to Luiz Carlos Moraes, president of national auto association Anfavea.Cost increases are one of the main challenges the sector faces in its gradual recovery from Covid-19-related lows, the association said on Friday November 6.Steel prices for automakers ar...Read More
The majority of imports prices for flat-rolled steel in South America rose during the week ended on Friday November 6 amid higher offers from Chinese mills for January-shipment cargoes.Fastmarkets assessed the price for steel plate import, cfr main ports South America, at $560-570 per tonne on Friday, up by $10 per tonne from $550-560 per tonne a week before.Participants reported offers from China...Read More
Fastmarkets' Ferrous Analytics report helps subscribers...Read More
Indian local secondary billet prices rose by 1,800 rupees ($24) per tonne week on week on account of strong demand from finished product makers and a sharp rise in prices of direct-reduced iron (DRI).Fastmarkets assessed the price of steel billet domestic, ex-works India at 33,300-33,500 rupees per tonne on Friday November 6, compared with 31,500-31,700 rupees per tonne ex-works last week."Demand...Read More
Domestic Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil (pre-painted galvanized iron or PPGI) continued to increase in the week to Friday November 6, with demand reported to be strong, sources told Fastmarkets.Coated coil prices increased on firm demand and increasing prices for hot-rolled coil, the base product for coated coil.Fastmarkets' weekly price assessment for st...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
Some container shipping lines are refusing to give rates for December shipments of scrap metal into South Asia and are even cancelling some existing orders, sources told Fastmarkets on Friday November 6.Four steel scrap traders that speak to Fastmarkets said they have either been unable to get December shipment quotations from their freight forwarders or are aware of others facing a similar situat...Read More
Export pig iron prices from Brazil rose in the week to Friday November 6 on high demand, sources told Fastmarkets. Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $370-375 per tonne on Friday, up from $355 per tonne the week before. "Late this week China resumed active purchases and...Read More
The seaborne premium hard coking coal cfr price rose on Friday November 6 due to the premium paid for high quality materials from countries such as Canada while premium mid-volatility hard coking coal was transacted in the fob market, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $107.45 per tonne, up $1.20 per tonne Premium hard coking coal, cfr Jingtang: $143.93 per tonne,...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses were little moved in the week to Friday November 6, with the biggest percentage change seen in lead at 6.5%. Lead stocks in SHFE-registered warehouses increased by 1,630 tonnes to 26,561 tonnes on Friday from 24,931 tonnes in the week prior. The largest inflow was noted at Guochu Tianwei warehouse in Shanghai, whe...Read More
Seaborne iron ore prices were up on Friday November 6 amid strong demand for steel reinforcing bar (rebar) in China, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.80 per tonne, up $0.85 per tonne62% Fe low-alumina fines, cfr Qingdao: $118.03 per tonne, up $0.95 per tonne58% Fe fines high-grade premium, cfr Qingdao: $108.75 per tonne, up $1.07...Read More
Three-month base metals prices on the London Metal Exchange were largely higher during morning trading on Friday November 6, spurred by a continued decline in the US dollar index, while copper futures steadily appreciated to push past the $6,900-per-tonne resistance level amid persistent outflows. The three-month copper price was recently trading at $6,919 per tonne, its highest level since Octobe...Read More
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