The three-month nickel price on the London Metal Exchange gained 2.6% to its highest so far in 2021 during early trading on Friday September 10, while aluminium also reached a new year-to-date peak of $2,894 per tonne.The entire base metals complex is set to end the week higher. Nickel reached $20,705 per tonne on Friday morning - a price not seen since 2014 when it rose as high as $21,625 per ton...Read More
Base metals prices were higher on both the LME and the SHFE this morning, Friday September 10, with the broader markets also up. Additionally, metals that were previously looking vulnerable now look less vulnerable, suggesting traders are still comfortable being exposed to the metals.United States president Joe Biden and China's leader Xi Jinping are meeting in an effort to improve relationsThe Eu...Read More
Premium hard coking coal prices jumped on Friday September 10, with offers rising to $335 per tonne fob Australia, and market sources blaming tight supply for the increase.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $480.65 per tonne, up by $4.17 per tonneHard coking coal, cfr Jingtang: $444.04 per tonne, up by $1.76 per tonnePremium hard coking coal, fob DBCT: $333.12 per tonne, up...Read More
The zinc concentrate market remained broadly stable in the fortnight to Friday September 10, with smelters and traders reporting a quiet period but also a continued uptrend on treatment charges since August.Zinc spot concentrate TC, cif China was assessed at $75-92 per tonne on Friday, with the top end of the range rising by $2 since August 27.Smelters had reserved enough concentrate for the...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
Raw material costs drove aluminium primary foundry alloy (PFA) premiums higher in Europe on Friday September 10, while the premium in the United States was flat.EuropeFastmarkets assessed the aluminium primary foundry alloy, silicon 7 ingot premium, ddp Germany at a fresh all-time high of $550-620 per tonne on Friday from $510-550 per tonne on August 13.Fastmarkets also assessed the monthly alumin...Read More
The light-iron scrap market in the United Kingdom was steady during the week to Friday September 10, stabilizing losses from the week prior on persistent tight availability, despite slower export markets to deep-sea destinations, trade sources said.Fastmarkets' weekly price assessment for steel scrap 5C loose old light domestic, delivered inter-merchant, UK was ?170-185 ($235-255) per tonne...Read More
Brazil's pig iron export market rebounded during the week ended Friday September 10 on active sales to the United States and China, sources told Fastmarkets.Fastmarkets' assessment of pig iron, export, fob port of Vitoria/Rio, Brazil was $475-500 per tonne on Friday, widening upward from $475-485 per tonne a week earlier.A sale of pig iron was done to the US at $480 per tonne early during the week...Read More
The monthly ferrous scrap settlement in the United States has barely concluded and market participants are already looking ahead to what is in store for October. There is pessimism brewing on the next direction of prime scrap, yet optimism is brightening the outlook for secondary grades such as shredded scrap.Usually in a downward market, mills drag out their entrance to psychologically push senti...Read More
Most flat steel prices in Turkey declined further during the week to Friday September 10, with buyers opting to wait for prices to stop falling before placing big orders, market participants said.The price moves are in line with weak global markets, which slumped further this week.Fastmarkets assessed steel HRC, export, fob Black Sea, CIS at $865-885 per tonne on Monday September 6, down $15 from...Read More
Sentiment in the European hot-rolled coil market was becoming increasingly gloomy, reflecting the deterioration in demand from the automotive sector, and with prices in the north of the region sliding on Friday September 10, sources have told Fastmarkets.The automotive sector in Europe was reported to be working at reduced rates because of the global shortage of semiconductor chips for onboard ele...Read More
Wait times to deliver aluminium out of London Metal Exchange warehouses in Johor and Port Klang, Malaysia fell during August to a 47-day delivery wait time for copper, zinc and lead in Johor by the end of the month, according to the LME's latest report. The 47-day queue at Johor's Istim warehouses is down from 78 days for aluminium deliveries out of the warehouse in July.For zinc, copper and lead...Read More
Sellers of Japanese scrap have closed deals to both Bangladesh and Vietnam at lower prices, market participants told Fastmarkets on Thursday September 9.Japan sells cargoes to Vietnam, BangladeshTaiwan containerized scrap prices steadyChina's bids edge upward amid futures gainsJapanThe September Kanto Tetsugen auction was concluded for Japanese H2 scrap on Thursday morning at an average of ?46,26...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Chinese cobalt tetroxide prices moved up on improved demand from downstream consumers in the first half of this week, with most producers raising their offers, sources told Fastmarkets on Wednesday September 8.Fastmarkets' price assessment for cobalt tetroxide 72.6% Co min, delivered China narrowed up to 275,000-285,000 yuan ($42,568-44,116) per tonne on September 8, from 270,000-285,000 yuan per...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Alumina prices soared over 10% on Thursday September 9 to their highest since April 2019 due to increased spot market tightness.Fastmarkets' alumina index, fob Australia, was published at $380.61 per tonne on Thursday, up by 13% from the previous day when the index was just $336.76 per tonne.A deal was concluded at $381.10 per tonne on a fob Western Australia basis for 30,000 tonnes and October lo...Read More
Base metals prices on the London Metal Exchange were up across the board on Thursday September 9, supported by the lower dollar index.The three-month aluminium contract continued its surge during Thursday's trading, closing above $2,800 per tonne for the first time since 2008. The three-month price finished the session up by 1.6% at $2,839.50 per tonne after reaching an intraday high of $2,848 per...Read More
Here are five Fastmarkets stories you might have missed on Thursday September 9 that are worth another look.Truck transportation has ceased at the Brazilian S??o Francisco do Sul port and at least five ships have failed to be unloaded since Tuesday September 7, when demonstrations broke out across the country, a spokesperson for...Read More