Demand for imported pig iron was low in the United States during the week to Friday November 20 but a global uptrend has stimulated market growth.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US, was $392-395 per tonne on Friday, narrowing upward from $390-395 per tonne a week before.No new deals were reported in the spot market despite buyers'...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 20.AsiaSeaborne prices for high- and low-grade manganese ore fell following lower offers, amid high inventories and weakening sentiment.Falling portside ore prices put additional downward pressure on both grades of material.Portside manganese ore prices of both grades ticked down....Read More
Chilean state-owned copper miner Codelco announced on Thursday November 20 that Andr?(C) Sougarret would return to the company in 2021 after a two-year stint with Colombia's Empresa Nacional de Miner?-a (Enami).Sougarret, widely known in the industry for his key role in the rescue of the 33 miners trapped at the San Jos?(C) mine in Chile in 2010, will become vice president of Codelco's northern op...Read More
After much anticipation and debate, the International Energy Exchange's bonded copper futures contract launched on Thursday November 19 to some fanfare and respectable volume.A total of 8,344 lots traded on the INE's 'BC' contract on Thursday, following up with another 4,893 on Friday, the majority for delivery in March.National Chinese copper behemoths Jiangxi Copper and Minmetals were among the...Read More
The three-month copper and lead London Metal Exchange prices ended the week on the rise, hitting June-2018 and January-2020 highs respectively at the 5pm close on Friday November 20, capitalizing on momentum-based trading which pushed the whole complex up. The three-month copper price closed at $7,277.50 per tonne on Friday, up by 2.6% from Thursday's closing price of $7.093 per tonne, surpassing...Read More
After much anticipation and debate, the International Energy Exchange's bonded copper futures contract launched on Thursday November 19 to some fanfare and respectable volume.A total of 8,344 lots traded on the INE's 'BC' contract on Thursday, following up with another 4,893 on Friday, the majority for delivery in March.National Chinese copper behemoths Jiangxi Copper and Minmetals were among the...Read More
Seaborne premium hard coking coal prices in both fob DBCT and cfr Jingtang markets edged up on a daily basis on Friday November 20 although the ongoing restriction from China on Australian coal imports has caused a widening differential between the prices since late October. Fastmarkets indices Premium hard coking coal, fob DBCT: $98.40 per tonne, up $0.82 per tonne Premium hard coking coal, cfr J...Read More
The three-month copper and lead London Metal Exchange prices ended the week on the rise, hitting June-2018 and January-2020 highs respectively at the 5pm close on Friday November 20, capitalizing on momentum-based trading which pushed the whole complex up. The three-month copper price closed at $7,277.50 per tonne on Friday, up by 2.6% from Thursday's closing price of $7.093 per tonne, surpassing...Read More
The price for pig iron exports from Brazil went up again during the week to Friday November 20 on strong demand in both the export and domestic markets. Fastmarkets assessed the price of pig iron, export, fob port of Vitoria/Rio, Brazil at $390-395 per tonne on Friday, up from $375 per tonne a week ago.A sale was done to Mexico at about $390-395 per tonne fob, sources said. The carg...Read More
The US Midwest aluminium premium moved higher on Friday November 20, with traders bullish - and reluctant to part with metal - due to tight supply, high freight and scrap costs, and recent news about the Boeing 737-Max and promising Covid-19 vaccines.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 13.5-15 cents per lb on Friday, up by 5.6% from 13-14 cents per lb previously, w...Read More
Aluminium billet premiums in the United States and Europe rose to their highest levels since September 2019 on Friday November 20, while premiums in Brazil and Thailand maintained their stability.US premium pushes higherTight supply raises premiums in Germany, ItalyBrazil premium steady in quiet spot marketThailand premium flat, trading thin.US premium tightens upwardFastmarkets assessed the alumi...Read More
Prices for most aluminium scrap grades maintained upward momentum this past week amid continued struggles to source freight as well as persistent supply-side tightness in the United States, Fastmarkets understands.Fastmarkets' assessment of the non-ferrous auto shred (90% Al) buying price, delivered to Midwest secondary smelters rose to 62-66 cents per lb on Thursday November 19 from 60-64 cents p...Read More
An overview of the new energy raw materials markets and their latest price moves.Susan Zou and Sally Zhang in Shanghai, Carrie Shi in Beijing, and...Read More
After much anticipation and debate, the International Energy Exchange's bonded copper futures contract launched on Thursday November 19 to some fanfare and respectable volume.A total of 8,344 lots traded on the INE's 'BC' contract on Thursday, following up with another 4,893 on Friday, the majority for delivery in March.National Chinese copper behemoths Jiangxi Copper and Minmetals were among the...Read More
China will remove its "prohibition" on the use of five nickel-related products in the processing trade from December 1, 2020. According to a notice published by the country's Ministry of Commerce on November 5: "Products that are not high-energy consumption and high pollution, and with relatively high-value added will be removed from the catalogue of prohibited goods in [the] processing...Read More
Fastmarkets copper concentrates treatment and refining charge (TC/RC) index set a new low this week amid an illiquid market. The spot tracking index dropped to $42.60 per tonne/ 4.26 cents per lb on Friday November 20, the lowest since its launch in 2013. Offers of clean concentrates to smelters lowered to the mid-$40s with purchases reported in the high $40s for...Read More
The US Department of Commerce has issued affirmative preliminary anti-dumping determinations on steel reinforcing bar from Turkey, the agency said on Tuesday November 17. Commerce preliminarily determined that producers or exporters of rebar from Turkey subject to investigation made sales at less than normal value during the period of review from July 1, 2018 through June 30,...Read More
The domestic hot-rolled coil price in Europe increased again day on day on Friday November 20, supported by tight supplies, sources told Fastmarkets. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?541.25 ($641.14) per tonne on Friday, up by ?,?3.37 per tonne from ?,?537.88 per tonne on Thursday. The index was also up by ?,?16.15 per ton...Read More
Flat steel prices in Turkey continued to rise sharply in the week to Friday November 20, due to strong demand in the domestic and export markets because of low stock levels, sources told Fastmarkets.Domestic pricesFastmarkets' weekly price assessment for steel HRC, domestic, exw Turkey was $630-640 per tonne on November 20, rising from $575-585 per tonne on November 13.Turkish HRC producers w...Read More
Offer prices for steel billet exported from the Commonwealth of Independent States (CIS) moved upward again on Friday November 20 amid higher costs for steelmaking raw materials, particularly scrap, and rising long steel prices, with the mismatch between offers and bids restraining trading, Fastmarkets heard.Offers for steel billet from Russian and Ukrainian mills were heard within the range of $4...Read More