Copper concentrate treatment and refining charges (TC/RCs) hit new Fastmarkets record lows in the week to Friday September 4 after some smelters purchased cargoes for nearby arrival in the high $40s per tonne / 4 cents per lb. Smelters are said to be well stocked with concentrate, but deals reported to Fastmarkets with TCs between $47 and $49 per tonne indicate that those in need will have to pay...Read More
China's copper imports have fueled the metals roaring price recovery from multi-year lows in March, but the traders who had brought the material into the country say they are no longer buying, Fastmarkets heard.Records for monthly copper imports were initially smashed in June with 656,483 tonnes, only to be gazumped in July when 762,211 tonnes crossed the China border.This comes at a time when the...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday September 4. China Rising seaborne manganese ore prices reflect miner deals at higher prices for October shipments. There was strong buying interest for portside manganese ore among alloy smelters, prompting traders to raise their offer prices. Manganese ore inventories at Tianjin a...Read More
Copper concentrate treatment and refining charges (TC/RCs) hit new Fastmarkets record lows in the week to Friday September 4 after some smelters purchased cargoes for nearby arrival in the high $40s per tonne / 4 cents per lb. Smelters are said to be well stocked with concentrate, but deals reported to Fastmarkets with TCs between $47 and $49 per tonne indicate that those in need will have to pay...Read More
An overview of the minor metals markets and their latest price moves.Read More
The European Commission unveiled an updated list of critical raw materials on Thursday September 3 that it aims to secure the supply of while avoiding over-dependence on third countries, alongside an action plan to create domestic supply chains for raw materials.Lithium, a material that is critical for the shift to a greener economy, has been added to this list for the first time. Lithium is a key...Read More
Global scrap prices have increased in the past week on stable demand from major importing countries such as Turkey and Vietnam. Many market participants in Asia expected the price uptrend to continue in the near term.Import price in Turkey reaches $300 per tonne cfrUS East Coast price surges upward by $11 per tonneTaiwanese buyers fail to achieve lower pricesVietnam spot liquidity limited on major...Read More
The price spread for UK inter-merchant light iron scrap widened over the week to Friday September 4, rising by ?5 ( ?$7) per tonne at the top end of the latest assessed range, with firm fundamentals and steady export demand encouraging active trading, industry sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK,...Read More
Turkish steel mills continued to book deep-sea scrap from various regions at fairly steady prices at the end of the week bringing the total to 11 for the week, sources told Fastmarkets on Friday September 4.A Marmara steel mill and one in the Izmir region each booked a Baltic Sea cargo at $299 per tonne cfr for HMS 1&2 (80:20) on Friday.Previous cargoes from the Baltic were booked at $299-300...Read More
London Metal Exchange base metals prices were firmer this morning, Friday September 4, but this appears to be early bargain-hunting/consolidation after Thursday's 1.5% average decline. Asian equities and base metals prices were weaker while they followed yesterday's weakness in western markets. We wait to see if this weakness was the result of some book squaring ahead of the much-watched monthly U...Read More
Key data from the Friday September 4 pricing session in London.Key drivers Cobalt metal inquiries showed a modest pick-up during the first few days of September, although some buyers were returning from the summer break and still adopting a cautious approach to restocking due...Read More
The European Commission unveiled an updated list of critical raw materials on Thursday September 3 that it aims to secure the supply of while avoiding over-dependence on third countries, alongside an action plan to create domestic supply chains for raw materials.Lithium, a material that is critical for the shift to a greener economy, has been added to this list for the first time. Lithium is a key...Read More
The uptrend in the South American flat-steel import market persisted in the week to Friday September 4, as Chinese mills increased prices once more and steelmakers from other regions were preparing to present more expensive offers of November-shipment cargoes.Fastmarkets' assessment for steel hot-rolled coil import, cfr main ports South America was $550-570 per tonne on Friday, a $10-per-tonn...Read More
Indian authorities have decided to slash export rebates, in a move which market participants expect will raise prices for steel shipped out of the South Asian nation, Fastmarkets understands.An Indian steel trader told Fastmarkets that a final decision on the matter was still under discussion, but he expected that the rebate he received on steel exports would be cut from a current 2.5-3% per trans...Read More
Major Indian steelmakers saw a sharp increase in domestic sales in August, allowing them to focus more attention on the home market rather than having to rely on exports.Integrated steelmakers such as Jindal Steel & Power Ltd (JSPL) turned to exports during the first quarter of 2020, when weak domestic demand coincided with a growing need for steel in regions such as...Read More
Poland's rebar producers managed to push through a price increase in the week to Friday September 4, supported by stronger buying with sentiment in the market remaining bullish, sources have told Fastmarkets.Buying activity picked up this week on restocking activity and a strong construction sector, sources said."Demand did pick up with many of our customers declaring the start of new construction...Read More
Rebar prices in Eastern China were flat on Friday September 4, but up on a week-on-week basis following an increase in the cost of raw materials.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($536-541) per tonne, unchangedNorthern China (Beijing) weekly assessment: 3,660-3,690 yuan per tonne, up by 40 yuan per tonnePrices in the eastern region have increased by 30 yuan per tonne from last Fri...Read More
Global scrap prices have increased in the past week on stable demand from major importing countries such as Turkey and Vietnam. Many market participants in Asia expected the price uptrend to continue in the near term.Import price in Turkey reaches $300 per tonne cfrUS East Coast price surges upward by $11 per tonneTaiwanese buyers fail to achieve lower pricesVietnam spot liquidity limited on major...Read More
High demand in Brazil's export and domestic markets pushed pig iron export prices up during the week to Friday September 4.Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil, at $350-360 per tonne on Friday, up by $10 per tonne from $340-350 per tonne one week earlier.A new sale was heard to China...Read More
The import pig iron market in the United States went up during the week to Friday September 4 on new bookings after several months of silence.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, went up to $360-365 per tonne on Friday, from $355-360 per tonne a week before.One US buyer booked...Read More