Fastmarkets copper concentrate treatment charge/refining charge (TC/RC) edged down this week, with few inquiries for spot tonnages, sources said on Friday October 15.TCs for smelters remain in the low-to-mid $60s, a level still well below the Chinese pricing floor of $70 per tonne/7 cents per lb.As for trader purchases, a tender for Escondida concentrate...Read More
LME base metals prices were little changed early on Friday October 15, but the strong gains seen during this LME Week support our long-held view that we are in a supercycle, with other factors, such as power cuts in China, high energy costs and logistics issues, also having an impact.LME metals up by an average of 6.6% this week, with zinc up by 14%Brent crude oil approaching $85 per barrelEU pass...Read More
A lack of trading across Europe kept domestic prices for hot-rolled coil fairly stable on Friday October 15, sources told Fastmarkets.Bearish sentiment is prevailing in the market, supported by poor demand from the automotive sector and good domestic supplies. Buyers and sellers have mainly been holding back from making deals, with only limited volumes traded in Europe during the week, sources sai...Read More
Less stringent restrictions on power supply in some areas of China have led to a boost in steel production levels and ferrous scrap demand at some mills in recent days, sources told Fastmarkets on Friday October 15.?EUR?Less strict power rationing helps support China scrap prices?EUR?Import prices in China inch up amid higher bids from buyers?EUR?South Korea buys high-grade Japanese scrap.ChinaThe...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
Turkish steel mills booked at another five cargoes on Friday to bring the total for the week to 10, market participants told Fastmarkets on October 15.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 21,000 tonnes of HMS 1&2 (80:20) at $487 per tonne and 4,000 tonnes of shredded at $507 per tonne cfr. The cargo was scheduled to be shipped on December 15.A steel mill in the...Read More
Eastern China rebar prices lost upward momentum on Friday October 15 due to sellers' need to reduce inventories.DomesticEastern China (Shanghai): 5,770-5,800 yuan ($896-901) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,600-5,650 yuan per tonne, down by 200 yuan per tonneSellers expect prices will have little chance to rise in the remaining days of October, so...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More
The entirety of copper's London Metal Exchange forward curve ended the day in a backwardated state on October 15, with fears of supply tightness taking over metals across the board. Zinc reached its highest prices in over a decade while tin climbed to new all-time highs. Copper's benchmark cash/three-month spread on LMESelect - the Exchange's electronic platform - touched a $350-per-tonne b...Read More
Poland's steel rebar market remained flat in the week to October 15, but sources expect producers to seek higher prices due to high energy costs, sources told Fastmarkets on Friday.Rebar offers from local mills were at 3,600-3,700 zloty ($913-938) per tonne ex-works, but some had already finished October sales and are yet to return with November offers."ArcelorMittal is expected to announce new pr...Read More
Key data from Fastmarkets' pricing sessions in India, Europe, China and the United States on Friday October 15.China ?EUR?Silico-manganese prices continued to rally in portside ore markets while an improved demand outlook buoyed the seaborne manganese ore markets. ?EUR?Some South African miners raised their offer prices for November-shipment manganese ore, which was accepted by Chinese buyers fo...Read More
The market for pig iron exports from the south of Brazil went up during the week to Friday October 15 because of new sales, Fastmarkets has heard.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil, was $500 per tonne on Friday, up from $480-485 per tonne a week earlier.Two sales were heard at...Read More
Slab export prices from Brazil declined in the week to Friday October 15, with offers and bids consolidating at lower levels, but market participants expected prices to have reached a bottom with no further room to drop.Fastmarkets' weekly price assessment for steel slab export, fob main port Brazil was at $740-760 per tonne on Friday, down by $20 from $760-780 per tonne on October 8.Demand remain...Read More
The price of stainless steel in Europe was stable this week but mills were expected to try to push through increases because of higher energy costs, despite the fact that demand has slowed in recent weeks, Fastmarkets heard on Friday October 15.An Italian mill was said to be hoping to implement a ?,?20 ($23) per tonne energy surcharge in order to recoup some of its expenditure on rising energy cos...Read More
Eastern China rebar prices lost upward momentum on Friday October 15 due to sellers' need to reduce inventories.DomesticEastern China (Shanghai): 5,770-5,800 yuan ($896-901) per tonne, unchangedNorthern China (Beijing) weekly assessment: 5,600-5,650 yuan per tonne, down by 200 yuan per tonneSellers expect prices will have little chance to rise in the remaining days of October, so...Read More
Higher demand in key consumer markets led to a jump in steel scrap prices across all major markets in the week to Friday October 15, sources have told Fastmarkets.?EUR?Turkey import prices spike amid limited supply, firm demand?EUR?Further price increases expected in US export market?EUR?High prices dissuade Vietnam buyers from more deals?EUR?China scrap demand recovers amid less stringent power r...Read More
Prices in the United States' pig iron import market went up during the week to Friday October 15 amid an improved global market mood, sources told Fastmarkets. Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $545-550 per tonne on Friday, up from $540 per tonne a week earlier.Offers of Russia-origin...Read More
Steel wire rod prices in Poland were broadly flat in the week to Friday October 15, while market sources expect producers to increase prices in November due to higher energy costs, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (drawing quality), domestic, delivered Poland remained at 3,800-3,900 zloty ($964-989) per tonne on Friday, unchanged from the previous we...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Cristina Belda,...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 15.Susan Zou, Yingchi Yang and...Read More