Nickel's three-month price on the London Metal Exchange came to its highest level in a month on Tuesday April 6, with a rise of 3%, while there were similar gains for copper and tin.Copper's intraday high reading was $9,104 per tonne, the highest level since it reached $9,145 per tonne on March 23. It followed a surge on its Chicago Mercantile Exchange price of 3.4% on Monday to $4.15 per tonne.&n...Read More
Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...Read More
London Metal Exchange futures prices for copper, nickel, zinc and tin started the week with gains on Tuesday April 6, following positive economic data released in the United States and China on Monday. Tin's three-month price jumped by 3.4% to $25,985 per tonne at 9am on Tuesday, the biggest increase in the complex, closely followed by zinc, which was up 2.7% to $2,858.50 per tonne from last Thurs...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Ferrous scrap prices rose in the two Mexican regions assessed by Fastmarkets, with supply becoming scarcer and some buyers no longer able to obtain cheap material.In the central Baj?-o region and that near Monterrey city, there were increased reports of busheling being sold above 10,000 pesos ($486) per tonne, although not all sellers were able to obtain such deals. Higher prices for other gr...Read More
Domestic prices for steel hot-rolled coil increased further across Europe over the week to Thursday April 1 due to a material shortage and good demand.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?843.33 ($993.44) per tonne on April 1, up by ?,?21.66 per tonne week on week and by ?,?103.33 per tonne month on month.The calculation of Thursday's in...Read More
Mining production was mostly higher in Peru during February compared with the corresponding month in 2020, with the country increasing output for copper, zinc and tin, energy and mines ministry Minem said on Tuesday April 6.The country produced 170,989 tonnes of copper in February, up by 0.68% year on year from 169,826 tonnes but down by 3.07% from 176,402 tonnes in January of this year.Miner...Read More
A summary of base metals premiums from across the globe for the week to Tuesday April 6.Please click...Read More
Nickel's three-month price on the London Metal Exchange came to its highest level in a month on Tuesday April 6, with a rise of 3%, while there were similar gains for copper and tin.Copper's intraday high reading was $9,104 per tonne, the highest level since it reached $9,145 per tonne on March 23. It followed a surge on its Chicago Mercantile Exchange price of 3.4% on Monday to $4.15 per tonne.&n...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...Read More
Teck Resources and Mitsui Mining & Smelting have agreed annual supply agreements for lead concentrates with treatment charges (TCs) down by 19% from 2020 levels.Mitsui Mining and Smelting will receive a treatment and refining charge (TC/RC) of $141 per tonne / $1.50 per oz in its contract to purchase lead concentrates from Teck's Red Dog...Read More
Flat-rolled steel product export prices from the Commonwealth of Independent States (CIS) jumped again during the week to Tuesday April 6 sue to an overall shortage of material in the global market, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $885-895 per tonne on Tuesday, up by 5.64% from $830-855 per tonne on March 29."De...Read More
Slab export prices from the Commonwealth of Independent States (CIS) region continued to rise in early April, supported by a surge in finished flat steel markets domestically and abroad.Hot-rolled coil from producers in Russia and Ukraine was available to foreign customers at $885-905 per tonne fob at the beginning of April, depending on the coil weight and supplier, up by 4.09% from&nbs...Read More
Wire rod export prices from the Commonwealth of Independent States (CIS) region surged over the past week, supported by rising costs in the domestic and in competitor markets, Fastmarket learned.Russia-based Industrial Metallurgical Holding (IMH) increased wire rod offers to $740-750 per tonne fob Black Sea from $680-685 per tonne a week earlier amid higher costs in the domestic market."...Read More
Flat-rolled steel import prices in the United Arab Emirates (UAE) and Saudi Arabia increased during the week ended Tuesday April 6, with only a few offers received, sources told Fastmarkets.The slim number of offers stemmed from strong global flat-rolled steel demand from China and India, two main exporters to the Middle East.Saudi ArabiaIndia offered hot-rolled coil at $890-90...Read More
Europe's domestic prices for hot-rolled coil jumped on Tuesday April 6, with a shortage of material prompting buyers to accept prices targeted by mills, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?885.00 ($1,042.59) per tonne on Tuesday April 6, up by ?,?41.67 per tonne from ?,?843.33 per tonne on April 1.The index was u...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow edged up again on good end-user demand and tight supplies in April due to planned stoppages at key producers, sources told Fastmarkets on Tuesday April 6.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 54,000 roubles ($707) per tonne, including 20% value-added tax, on A...Read More
Turkish deep-sea scrap import prices strengthened again on Tuesday April 6, with reports of a fresh Baltic Sea cargo, market sources told Fastmarkets.A steel mill in the Iskenderun region booked the Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (95:5) at $430 per tonne cfr on Friday April 2.The previous deep-sea deal took place on April 1, when a steel mill in the Marmara region booked a Europ...Read More
The price spread between 62% Fe and 65% Fe iron ore fines reached a historical high in March as a result of various factors, according to market sources.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao was at $159.85 per tonne on Thursday March 25 while that for iron ore 65% Fe Brazil-origin fines, cfr Qingdao was at $190.40 per tonne.The spread between the two indices rose to a historica...Read More