Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals, oil, power & renewables and shipping. Andrea Hotter talks strategy with the man at the helm, CEO Jeremy WeirJeremy Weir's career at Trafigura almost stumbled before it began. The Melbourne, Australia-born geologist-turned-derivatives-trader was heading to meet one of the commodities trading house's founding partners,...Read More
The Shanghai zinc premium was unchanged in the week to Tuesday October 13 despite rising arbitrage opportunities, while spot interest for both European zinc ingots and secondary lead from Indian buyers bolstered respective premiums.China's return to the market sees arbitrage opportunities emergeIndian lead market gets battery-demand boostEuropean spot demand gathers momentumUnited States lead and...Read More
Copper premiums across Asia, Europe and the United States were unchanged in the week to Tuesday October 13, with market participants turning their attentions to the benchmark negotiations for 2021 supply at next week's annual LME gathering. Rotterdam premiums hold ahead of annual contract talks coming next week. Asia spot market remains weak amid close arbitrage window. Absence of spot...Read More
Brazilian imports of flat and long steel dropped in September, with lower import volumes from China partially compensated for by higher volumes from Russia.Imports of flat-steel products fell 9.9% year on year in September, to 79,715 tonnes from 88,498 tonnes the year before, according to figures released last week by the Brazilian economy ministry.Shipments, however, increased 20% from...Read More
Brazilian steel scrap exports soared in September both year on year and compared with the previous month due to an unusually significant volume shipped to China by a shipyard under bankruptcy protection, according to national ferrous scrap association Inesfa.Exports totaled 97,312 tonnes in September, up by 19.7% from 81,295 tonnes in the same month last year and by 75.7% from 55,377 tonnes in Aug...Read More
The price of hollow steel sections in Europe moved up again this week with mills continuing to push for increases, market sources told Fastmarkets on Wednesday October 14.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?600-630 ($706-742) per tonne on Wednesday, up from ?,?590-620 per tonne one week before.The price of hot-rolled coil, the feed...Read More
European producers were planning to increase their official offer prices for domestic hot-rolled coil despite buyers taking a watchful stance until the price trend became clear, sources told Fastmarkets on Wednesday October 14.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.00 ($582.64) per tonne on Wednesday, up by ?,?1.25 per tonne from ?,?4...Read More
Turkish steel producers have continued their deep-sea scrap imports at firm prices thanks to improving demand for long steel products in the country's export markets, sources said on Wednesday October 14.A steel mill in the Iskenderun region booked a US cargo, comprising 6,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 17,000 tonnes of bonus at $297...Read More
Both the seaborne and futures prices for iron ore fell further on Wednesday October 14, with market sources putting the blame on weak sentiment resulting from high iron ore port inventories and low margins at steel mills in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $119.52 per tonne, down by $1.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.98 per tonne, down by $1.32 p...Read More
Seaborne hard coking coal and pulverized coal injection (PCI) prices declined on Wednesday October 14, following the recent slump in premium hard coking coal prices after China issued a verbal notice banning coal imports from Australia.Fastmarkets indicesPremium hard coking coal, fob DBCT: $124.21 per tonne, down $0.83 per tonne Premium hard coking coal, cfr Jingtang: $134.98 per tonne,...Read More
China will release new standards for steel scrap imports by the end of 2020, the National Standard Formation Committee said at a recycled raw materials conference in Shanghai.The new standards will support the rising demand for ferrous scrap in China and will introduce the nationwide classification and regulation of high-quality scrap, according to the China Metallurgical Information & Standardiza...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 14.Read More
China's domestic rebar prices continued to slide on Wednesday October 14 amid high stock levels of mills and the spot market. DomesticEastern China (Shanghai): 3,700-3,730 yuan ($550-555) per tonne, down by 10 yuan per tonneMajor steel mills had 13.59 million tonnes of finished steel inventory in early October, up by 17.22% from late September, while stock levels in the spot market amounted to 12....Read More
London Metal Exchange three-month base metals prices were broadly trading up on the previous day's close during the morning session on Wednesday October 14, with a weaker US dollar index boosting trade over the period.The US dollar index was down by a marginal 0.04% at around 93.51 on Wednesday morning, adding additional price support to LME futures prices amid the dip buying interest that has eme...Read More
China's hot-rolled coil prices weakened on Wednesday October 14 after trading thinned, though buyers in Vietnam raised their bids for Chinese products slightly.DomesticEastern China (Shanghai): 3,910-3,930 yuan ($581-584) yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said sentiment was affected by falling futures on Wednesday, which resulted in spot prices dipping.Trading activity...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Read More
An overview of the consumers electronics markets and their latest price moves.Read More
China's monthly output and sales of new energy vehicles (NEVs) continued their upward trajectory in September, reaching a year-to-date high following its first and second year-on-year growth since last year in July and August. China produced 136,000 NEVs in September, including pure electric vehicles (PEVs) and plug-in hybrids. This figure was up 48% from September 2019, and is also up 28.9% on a...Read More
The implementation of fifth generation (5G) technology will be the primary demand driver for tantalum after the Covid-19 pandemic is resolved, panelists said during a Tantalum-Niobium International Study Centre virtual conference this week. "Tantalum is driven by connectivity and 5G implementation will be the primary demand driver going forward," Travis Ashburn, senior vice president at Kemet Elec...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade,...Read More