Aurubis, Europe's largest copper producer, sees its multi-metal strategy as a competitive advantage against a backdrop of precarious market conditions, with executive chairman to the board Roland Harings highlighting the company's acquisition and integration of Belgian-Spanish recycler Metallo as a step change in optimizing production. Despite pandemic-related setbacks, the German-based producer o...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Seaborne prices for both low-and high-grade manganese ore in China moved down for the third consecutive week in the week to Friday October 23, following deteriorating overall market sentiment amid weakening portside ore and alloys markets. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $3.92 per dry metric tonne unit (dmtu) on Friday, down by 11 cents per dmtu, or 2.7%, from $4.03...Read More
The price of nickel ore in China was unchanged in the week to Friday October 23, supported by an already tight market and concerns of disrupted supply from the Philippines due to the latter's upcoming rainy season, market sources told Fastmarkets.Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China, at $73-75 per tonne on Friday, unchanged from a week earlier and at its h...Read More
Limited availability and a solid outlook for electric vehicle (EV) demand have given annual contract negotiations for cobalt hydroxide a kick start, but discussions for cobalt metal may evolve over a longer period, market sources told Fastmarkets.While Covid-19 has hit global economies and dented consumer sentiment, it also put low-carbon economies at the forefront of government policy and expecte...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More
There was a surge in buying activity in the Chinese copper scrap market in the second half of October after the release of a long-awaited announcement that the purchase of high-purity scrap will be permitted as a recyclable copper material from next month. "Everyone has returned to the market to buy [non-ferrous scrap] since the announcement," a trader source said. With overseas copper scrap more...Read More
Fastmarkets' research team took the number one spot on the base metals predictions leaderboard for the third quarter of 2020 with a 98.83% accuracy score while ED&F Man Capital Markets' Edward Meir clinched the top spot for precious metals predictions over the period with a 93.31% accuracy rating. For steel raw materials, ABN Amro's Casper Burgering was number one with an accuracy score of 89.47%....Read More
The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26. "In terms of size, [lithium] is now at a level where it can support an actively traded...Read More
While the initial appetite to hedge exposure to volatile lithium prices came from automakers expanding their electric vehicle (EV) fleets, an appreciation for short-term pricing and risk management tools has since filtered upstream, delegates heard during Fastmarkets' virtual Lithium Supply & Markets conference on Monday October 26. "Lithium often came up [in conversations with carmakers] because...Read More
Lithium spot prices are starting to change direction upward but it will take time for a rebound across the whole lithium complex, Fastmarkets head of battery raw materials research and base metals William Adams during a panel discussion at the Lithium Supply & Markets conference on Monday October 26. "We're starting to see a move up [for spot prices] and by the end of next year will start to see a...Read More
Hot-rolled coil prices in the United States climbed for the eighth consecutive business day while tight supply continued to bump up against rising demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.10 per hundredweight ($682 per short ton) on Monday October 26, up by 1% from $33.76 per cwt on Friday October 23 and 2.1% higher than $33.39 per cwt a week ago on...Read More
ArcelorMittal has restarted the No3 blast furnace at its Tubar??o facility in Brazil's southeastern Esp?-rito Santo state, on Sunday October 25, the company announced.The equipment has an output capacity of 2.8 million tonnes per year of crude steel and has been halted since April because of the adverse economic situation from the impact of the Covid-19 pandemic."The decision aims to supply client...Read More
Domestic prices for steel hot-rolled coil across Europe were fairly stable over the week to Friday October 23, but the mills were expected to increase their spot-market offer prices soon.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?496.67 ($588.80) per tonne on Friday, up by ?,?0.84 per tonne week on week and by ?,?9.06 per tonne month on month...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow remained broadly stable this week, despite producer attempts to raise prices for November deliveries, sources told Fastmarkets on Monday, October 26.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia was 40,000-41,000 roubles ($526-539) per tonne on October 26, incl...Read More
China's domestic rebar prices dropped slightly on Monday October 26 on high, but declining, inventories. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($554-558) per tonne, down by 10 yuan per tonneChina Iron & Steel Association reported that rebar stock in China's major markets was about 6.33 million tonnes in mid-October, down by 6.2% from earlier in the month...Read More
Singapore-based rebar buyers bought fresh quantities of Turkish rebar in the week to Monday October 26 on returning spot demand, sources told Fastmarkets.A group of buyers had to purchase 50,000 tonnes of January-shipment Turkish rebar from a producer located in Izmir, sources said, although this could not be directly confirmed by some of the counterparties heard to be involved in the transaction...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More