Fastmarkets' spot copper concentrates treatment/refining charge remained largely stable in the week to October 8.A few clean parcels were sold to smelters in the low-to-mid $60s during the week - still below the Chinese pricing floor of $70 per tonne targeted for fourth quarter procurement.Overall buying interest has remained low, with Chinese importers away for the most of...Read More
Turkey and Russia have exhausted their permitted import quota allowances for certain long steel products within just days of renewal, Fastmarkets has observed from European Commission data.The import market for long steel products in the European Union has remained strained because of safeguard measures. The fourth-quarter quota for steel imports into the EU came into effect on October 1 and will...Read More
The congestion at major ports that has affected shipping operations for metals and minerals on the China-to-Europe route is set to worsen in the next three or four months, sources told Fastmarkets during last week's International Colloquium on Refractories conference in Aachen, Germany.Lead times for cargo shipping from China to European ports have increased in recent months because of a series of...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
Indian domestic secondary billet prices fell by 300 rupees ($4) per tonne week on week, despite the price of other key raw materials such as direct-reduced iron (DRI) continuing to rise.Fastmarkets' price assessment for steel billet domestic, ex-works India was down by 300 rupees per tonneat 46,300-46,500 rupees ($619-623) per tonne, compared with last week's 46,600-46,800 rupees per tonne ex...Read More
The zinc concentrate market was broadly stable in the fortnight to Friday October 8, with Chinese buyers mostly away for the National Day holidays.Fastmarkets assessed the zinc spot concentrate treatment charge (TC), cif China at $75-88 per tonne on Friday, unchanged from two weeks prior.An offer of Antamina material was reported at low-to-mid $60s per tonne, with suppliers citing the seasonal pro...Read More
Fastmarkets' spot copper concentrates treatment/refining charge remained largely stable in the week to October 8.A few clean parcels were sold to smelters in the low-to-mid $60s during the week - still below the Chinese pricing floor of $70 per tonne targeted for fourth quarter procurement.Overall buying interest has remained low, with Chinese importers away for the most of...Read More
Global ferrous scrap prices increased in the week ended October 8 in response to improving downstream demand for billet and rebar.Turkish mills pay higher prices on improving downstream demandUnited States sells a bulk cargo to Turkey at a $5-per-tonne increaseVietnamese buyers opt for bulk HMS 1&2 (80:20) cargoes from US, AustraliaTaiwanese buyers continue to purchase containerized cargoesIndian...Read More
Hot-rolled coil prices in the United States fell below $97 per hundredweight ($1,940 per short ton) for the first time since September 22 - landing at their lowest since September 1 - with market participants indicating that more gradual retreats could be coming.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $96.79 per cwt ($1,935.80 per ton) on Friday October 8, dow...Read More
South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.There was no activity from China during the October 1-7 period due to week-long national holiday there, which paved the way for material from other countries to be offered to South American clients. However, with the market...Read More
Fastmarkets' spot copper concentrates treatment/refining charge remained largely stable in the week to October 8.A few clean parcels were sold to smelters in the low-to-mid $60s during the week - still below the Chinese pricing floor of $70 per tonne targeted for fourth quarter procurement.Overall buying interest has remained low, with Chinese importers away for the most of...Read More
Some of the most important countries in global mining production are moving forward with talks to secure a larger share of the commodity price escalation seen during the Covid-19 pandemic, mostly to fund their own social programs - but companies and industry groups fear this could compromise future investments.South American mining giants Chile, Peru and Brazil seek to increase mining royalties, e...Read More
Brazil's domestic hot-rolled coil prices have declined in October, with some producers heard giving discounts amid pressure from distributors and clients, although the movement was not yet widespread in the market.Two steel producers were offering material above the market average but are now granting discounts due to the difficult market, sources told Fastmarkets.Fastmarkets' monthly price assess...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board on the morning of Friday October 8, while those on the London Metal Exchange were for the most part stronger, as were Asia-Pacific equities.Today's focus will be on the US employment report.Market participants relieved that US Senate agreed to lift debt limit ceiling until December.Oil prices and US treasury yields rise f...Read More
Brazilian slab export prices decreased in the week ended Friday October 8 amid continuing weak buying activity and strong competition from other regions.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was down to $760-780 per tonne on Friday, down by $20 from $780-800 per tonne on October 1.Bids for Brazilian material were heard close to $720 per tonne fob in...Read More
Most base metals prices on the London Metal Exchange closed higher day on day in Friday's session.The three-month nickel price led the base metals complex, closing at $19,221 per tonne, up by more than 5% on Friday compared with Thursday's close at $18,264 per tonne."We view the recent price weakness in LME nickel as a buying opportunity and...Read More
China's domestic rebar prices moved up on Friday October 8 on increased demand after the week-long holiday.DomesticEastern China (Shanghai): 5,910-5,950 yuan ($916-923) per tonne, up by 10-20 yuan per tonneNorthern China (Beijing): weekly assessment: 5,800-5,850 yuan per tonne, up by 100-110 yuan per tonneEnd-user demand was strong during the...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 aerospace materials markets and the latest price moves in the week to Friday October 8.Jessica Long, Zihao Li, Ruby Liu...Read More
Prices for shredded steel scrap imported into Pakistan and India took a sharp upturn in the week to Friday October 8, on a pick-up in demand, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $ 535.07 per tonne on Friday, up from $508.69 per tonne one week previous.Deals were initially heard at $530-535 per tonne be...Read More