Fastmarkets' copper concentrates treatment and refining charge (TC/RCs) index rebounded for the second consecutive week on April 23, while smelters' buying activity slowed down, sources said.Few buyers were active in the spot market this week with deals for concentrate shipped in June and July settling in the low $30s, Fastmarkets heard. Read More
Global aluminium manufacturer and recycler Novelis has achieved Aluminium Stewardship Initiative (ASI) Performance Standard certification at seven of its European sites, ASI reported on Thursday April 22.The company's seven operations in Europe - in Germany, Italy, Switzerland and the UK - have been certified against the ASI's Performance Standard for responsible production, sourcing and stewardsh...Read More
The London Metal Exchange is suspending the trading of all prompt dates from December 2021 onwards on its cash-settled alumina futures contract with immediate effect, it said on Friday April 23. The LME alumina contract was launched on March 11, 2019 and settled against Fastmarkets MB's benchmark daily fob Australia alumina index in a basket alongside CRU's alumina index. Equal weighting was...Read More
Flat-rolled steel import prices were mostly up in South America in the week ended Friday April 23, with customers accepting higher prices from all destinations amid an international uptrend.Market participants were still unsure about the potential export tax rebate cut in China, and traders were offering Chinese products both with and without that reduction included.Limited export allocation from...Read More
The outlook for steel prices remained bullish in Brazil in March and April, with a broader global uptrend, raw material cost inflation, and strong demand from end-user and for restocking were supporting increases to clients, Usiminas commercial vice president Miguel Holmes said on Friday April 23.The flat steel producer calculated the domestic premium over imports to be negative at 3-5% after duti...Read More
Indian secondary billet prices fell by 1,600 rupees ($21) per tonne during the week to Friday April 23 on subdued demand from finished product makers, market sources said."There is a shortage of industrial oxygen all over the country because oxygen is being prioritized for medical use [for treatment of Covid-19]," an official from an integrated billet mill told Fastmarkets. Read More
European buyers of steel coil are encountering difficulties obtaining credit insurance and opening credit lines for purchases because of the rapid price rises and extended lead times in recent months, sources told Fastmarkets this week.Market participants said the situation was limiting the ability of buyers to acquire required volumes, despite strong demand from both distributors and end consumer...Read More
Domestic prices for hot-rolled coil (HRC) in Europe continued to rise on Friday April 23, due to a persistent shortage of locally produced material, limited and costly overseas alternatives and strong demand, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?971.25 ($1,168.26) per tonne on April 23, up by ?,?6.25 per tonne fr...Read More
Prices in the Commonwealth of Independent States' (CIS) export billet market remained firm over the week to April 23 due to the recovery of demand from market participants in Latin America and Asia, sources said.CIS mills continued to ask for a minimum of $600 per tonne fob Black Sea for June-shipment material, sources said.At least one cargo was heard sold to Latin America, with market participan...Read More
A Polish subsidiary of US steelmaker Commercial Metals Company (CMC) is likely to commission a new wire rod mill in the second quarter 2021, several sources told Fastmarkets on April 23.Sources that spoke to Fastmarkets expect CMC's long products facility in Zawiercie, Poland to commission a new 200,000-tonne-per-year capacity wire rod facility during the second quarter of 2021."CMC Zawierice will...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
The pig iron import market in the United States increased further during the week to Friday April 23 amid strong demand.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $575-585 per tonne on Friday, up by $5 per tonne from $570-580 per...Read More
The range for British domestic prices for grade-5C steel scrap widened in the week ended Friday April 23 on firm demand both at home and in export outlet regions, sources have told Fastmarkets.The demand for light iron scrap came from major scrap processors in the country, a steady rate of exports to key destinations such as Turkey and the Indian subcontinent, and short sea sales into Europe, they...Read More
Prices for shredded steel scrap imported into the South Asia region inched downward on Friday April 23, with the rise in new cases of coronavirus infection bringing trading to a halt in India, and material being redirected to Pakistan, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $456.50 per tonne on Friday, compared with...Read More
Pig iron export prices from the Commonwealth of Independent States went up again during the week to Thursday April 22 in new sales to Italy and Turkey, but once again no spot sales were reported to the United States.Fastmarkets' price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $550-558 per tonne on Thursday, up from $535-550 per tonne one week earlier.A sale...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses all declined in the week to Friday April 23, due to consumers trucking their cargoes out before the Labour Day holiday in China, sources said.SHFE nickel stocks totaled 8,560 tonnes this week, down by 994 tonnes or 10.4% from 9,554 tonnes last Friday, data shows.The largest outflow of nickel this week left Zhongch...Read More
Iron ore prices increased on Friday April 23 on support from better liquidity in the seaborne market, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $186.25 per tonne, up $2.63 per tonne62% Fe low-alumina fines, cfr Qingdao: $187.51 per tonne, up $2.13 per tonne58% Fe fines high-grade premium, cfr Qingdao: $162.88 per tonne, up $3.50 per tonne65% Fe Brazil-origin fines, cfr Q...Read More
A lower United States dollar index propelled aluminium's price to new highs during morning trading on the London Metal Exchange on Friday April 23, while copper continued its climb higher and other metals remained within their recent ranges.Aluminium's three-month price reached $2,389 per tonne during early trading on Friday. The light metal opened at $2,386 per tonne, $23 per tonne higher than Th...Read More
The base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday April 23, as were the wider markets while US President Joe Biden prepares to announce his plans on tax.Markets awaiting direction from purchasing managers' index (PMI) dataBase metalsLME three-month base metals prices were mixed, but on average were up by 0.4% this morning, with le...Read More
LME aluminium's three-month price surpassed its May 2018 high in intraday trading on Thursday April 22, with lead's price up by 1.3%, while nickel and copper retreated from their Wednesday prices at the close.Aluminium's price reached $2,375 per tonne on Thursday, taking out the May 2018 high of $2,374.50 per tonne to stand at a level last seen in April 2018, when the metal's highest intraday pric...Read More