Most LME base metals prices were trading slightly higher on the morning of Friday November 5, following declines at the close on Thursday, but zinc's three-month price remained under pressure. The galvanizing metal dipped to $3,1248 per tonne on Friday during early trading, its lowest level since October 8. The price recovered to $3,197 per tonne shortly after 9am, but it was still 1.3% lower than...Read More
Mining and metals companies say they're serious about transitioning to a sustainable economy, but whether they can afford to is another matter.Achieving decarbonization throughout the supply chain is going to require a huge amount of investment in technology to reimagine production processes and redesign existing sites.Last week, the International Aluminium Institute estimated that to decarbonize...Read More
Prices for shredded steel scrap imported into Pakistan and India dipped on Friday November 5 after trading slowed for both markets, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $557.89 per tonne on Friday, compared with $563.74 per tonne one week previous.Deals were heard at $552-562 per tonne in the reported...Read More
Major companies in logistics and heavy industry have come together as part of an initiative launched by the World Economic Forum at the the 2021 United Nations Climate Change Conference - COP26 - in Glasgow to create a critical mass of demand for low carbon technologies aimed at decarbonising heavily polluting sectors.The First Movers Coalition, announced on November 4, is a partnership between th...Read More
Base metals prices on the London Metal Exchange mostly edged higher at the close on Friday November 5, after a week of volatility across the complex.The aluminium three-month price stabilized after falling 3.8% on Thursday. It closed at $2,556.50 per tonne, from $2,554 per tonne the previous day.The metal was once again the most traded with 21,689 lots traded on LMESelect by the 5pm close."Maybe [...Read More
Sellers of physical copper are holding out for a higher premium for 2022 contracts in the United States.No major deals were reported by the end of the American Copper Council (ACC) fall meeting in Miami, Florida this past week, although there was talk of a US copper premium in the 10-cents-per-lb range.In the US, Fastmarkets assessed the copper grade 1 cathode premium, ddp Midwest US at 8-9 cents...Read More
Seaborne cfr coking coal prices dropped slightly on Friday November 5 with no trading activity, sources said, while ow-volatility PCI prices also declined following the downtrend in thermal coal prices.Fastmarkets daily indicesPremium hard coking coal, cfr Jingtang: $600.25 per tonne, down $0.63 per tonneHard coking coal, cfr Jingtang: $525.23 per tonne, unchangedPremium hard coking coal, fob DBCT...Read More
The Brazilian federal government has decided to cut by 10% the import duties imposed on most materials under its tariff system, the ministries of economy and foreign relations said in a joint statement on Friday November 5.Among the changes, duties on the majority of flat-rolled and long steel products will be cut to 10.8%, from 12% currently. Import taxes on stainless steel will drop to 12.6% fro...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide.....Read More
The Commonwealth of Independent States' (CIS) billet export price declined on Friday November 5 amid limited buying interest; most producers continued to hold back from trading.Trading activity remained limited in the Black Sea basin this week amid bearish sentiment.Softening scrap and long steel prices in Turkey, one of the key buyers of CIS billet, has made buyers cautious."The steel market is s...Read More
Prices for shredded steel scrap imported into Pakistan and India dipped on Friday November 5 after trading slowed for both markets, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan, at $557.89 per tonne on Friday, compared with $563.74 per tonne one week previous.Deals were heard at $552-562 per tonne in the reported...Read More
The import pig iron market in the United States went up during the week to Friday November 5 amid bullishness from suppliers.Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $550-570 per tonne on Friday, up from $545-555 per tonne a week earlier.There was talk in the market that two Russia-origin cargoes were sold to the US at $568-580 per tonne cfr,...Read More
Domestic rebar prices in China fell on Thursday November 4, but the rate of decline was slower than that a day earlier after the market was supported by tighter supply from steel mills and on the spot market.East China (Shanghai): 4,900-4,930 yuan ($765-770) per tonne, down by 50 yuan per tonneOver the week to Thursday, rebar output totaled 2.88 million tonnes, a decrease of 21,600 tonnes from the...Read More
Coated steel coil prices decreased in Turkey during the week ended Friday November 5, while some buyers expect further price falls, sources told Fastmarkets.Buyers expect more price decreases because of recent price falls for hot-rolled coil and weak demand, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil, domestic, exw Turkey was $910-930 per tonne on November 5, narro...Read More
ArcelorMittal will suspend production as its Sestao plant in Spain until early 2022 to carry out upgrade works to double capacity, a company representative told Fastmarkets.With the company moving forward scheduled engineering works by a month due to high electricity costs, steel production at Sestao will stop from the end of November until early next year, the spokesperson said."Production...Read More
Fastmarkets opened a consultation on October 1, inviting feedback on its IOSCO-audited non-ferrous materials methodologies in line with our annual methodology review process.The consultation, which closed on October 31, sought to ensure that the specifications and methodology for our audited alumina, aluminium, cobalt, copper, lithium and manganese ore prices continue to reflect the physical marke...Read More
Buyers in the Philippines have purchased imports of steel billet at largely flat prices despite the crash in the Chinese market this week, sources told Fastmarkets on Friday November 5.The Chinese ferrous futures markets have continued to nosedive this week, further reducing the prices in the country's domestic steel billet spot market. On Friday, key China market participants told Fastmarkets tha...Read More
Turkish steel producers ended the week with a total of five deep-sea scrap cargoes, with prices increasing throughout the week, market sources told Fastmarkets on Friday November 5.A steel mill in the Izmir region booked a Baltic Sea cargo consisting of 11,000 tonnes of heavy melting scrap 1&2 (80:20) at $500 per tonne and 15,000 tonnes of shredded and 3,000 tonnes of bonus at $520 per tonne cfr l...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices were largely stable this past week. More tonnages are available on tender for shipment next year, while smelters' buying has been relatively limited ahead of annual negotiations. For clean concentrate, a 90,000-tonne Cozamin tender for 2022 production was due to be awarded later on Friday November 5, with winning ter...Read More