Aluminium scrap prices in the United States continued to rise this week, albeit at a slower pace, while limited trucking availability due to the Covid-19 pandemic put pressure on the market, according to sources.Fastmarkets assessed the aluminium scrap mixed low copper clips, buying price, delivered Midwest secondary smelters at 44-46 cents per lb on Thursday September 3, up by a penny from the we...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Ernst van Amen has joined warehousing and logistics company Pacorini Global Services (PGS) after 16 years as head of metals at C. Steinweg Rotterdam, the company said. Van Amen will be based in Rotterdam and work closely with Mario Casciano, chief executive officer of North America; Daniel Saez, CEO of Africa, East Asia, Netherlands and Spain; and...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
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
The London Metal Exchange three-month base metals prices mostly increased during morning trading on Friday September 4, after steady recoveries in both copper and nickel futures, while a fresh cancelation of some 1,825 tonnes allowed LME lead gains to lead the complex. LME lead's outright price was recently at $1,962 per tonne, up by some 1.1% from a morning low of $1,936 per tonne, while turnover...Read More
US hot-rolled coil prices continue to hover around $26.50 per hundredweight, and prices could shoot sharply higher again over the next week on an increasingly tight spot market, market participants said.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $26.40 per hundredweight ($528 per ton) on Friday September 4, little changed from $26.44 per cwt on Thursday and...Read More
Prices for cold-rolled coil and galvanized steel sheet in the United States climbed after more customers made restocking commitments, pushing lead times out at the mills.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US rose to $34 per hundredweight ($680 per short ton) on Thursday September 3, from $33 per cwt ($660 per ton) on August 27.Fastmarkets' price assessme...Read More
Vehicle output recovered month-on-month in Brazil during August, but was still down by 21.8% in comparison with the same month in 2019, the national automakers association, Anfavea, said on Friday September 4.The country produced 210,860 vehicles in August, compared with 269,758 units in August 2019. Production, however, was up by 23.6% compared with July's 170,651 units.O...Read More
Domestic hot-rolled coil prices in Northern Europe continued to rise on Friday September 4, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?464.39 ($549.39) per tonne on Friday September 4, up by ?,?4.89 per tonne from ?,?459.50 per tonne on Thursday.The index was up by ?,?13.94 per tonne week on week and by ?,?51.89 per...Read More
Turkish prices in the domestic market for hot-dipped galvanized coil (HDG) increased in the week to September 4, while demand was moderate, sources told Fastmarkets.Demand was better when compared with last week after buyers decided to secure bookings before prices increase further, sources said.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Turkey was $670-675 per tonne on Sept...Read More
Turkish hot- and cold-rolled coil prices continued to rise in the week to Friday September 4, with further price hikes expected because of rising production costs, sources told Fastmarkets.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, was calculated at $294.78 per tonne on Friday September 4, up from $280.15 per tonne on August 28.Domestic pri...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
The price of containerized ferrous scrap imports into India increased over the past week, following the rise of international scrap prices, sources told Fastmarkets on Friday September 4. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $314.81 per tonne on Friday, up by $4.40 per tonne week on week from $310,41 per tonne. Earlier this week, deal...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
The market for pig iron exports from the Commonwealth of Independent States went up during the week to Thursday September 3 on new sales to China and resumed sales to the United States.Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $340-356 per tonne on Thursday, up from from $335-343 per tonne the week before.One Russian supplier sold a...Read More
Iron ore futures prices declined on Friday September 4 amid weak trading sentiment following the downturn in the US stock market. But with 57% Fe Indian fines traded in US dollars on the platform again in 2020, low-grade and high-grade fines performed well at ports on strong demand, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $128.80 per tonne, down $1.12 per tonne62% Fe...Read More
The seaborne premium hard coking coal fob index jumped on Friday September 4 following a new much-higher transaction, which sources say reflects rising demand, Fastmarkets heard.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110 per tonne, up $3.78 per tonne Premium hard coking coal, cfr Jingtang: $114.66 per tonne, up $0.23 per tonneHard coking coal, fob DBCT: $86.26 pe tonne, up $0.50 p...Read More
China's hot-rolled coil prices weakened on Friday September 4, with sentiment dampened by financial market losses.DomesticEastern China (Shanghai): 4,020-4,040 yuan ($588-591) yuan per tonne, down 10-20 yuan per tonneNorthern China (Tangshan) - weekly assessment: 3,890-3,920 yuan per tonne, up 40-50 yuan per tonneAsian stock markets on Friday experienced their worst daily performance of the past t...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