Fastmarkets analyst Boris Mikanikrezai and reporter Yasemin Esmen size up the copper market ahead of LME Week, which begins Monday October 11.While copper had a good start to the year, benefiting from the broad reflationary trade that lifted all the metals, it has come under pressure since its peak in May mainly due to a deterioration in the macroeconomic environment.The peak in copper prices came...Read More
Significantly rising energy prices have forced European steelmakers to look for ways to compensate for surging production costs, but mills lack a unified approach to the problem; some are introducing energy surcharges while others prefer to focus on raising the price of steel, sources told Fastmarkets on the sidelines of the Made in Steel 2021 trade fair in Milan, Italy.In October, prices for gas...Read More
Transactions for hot-rolled coil in Europe remained limited on Wednesday October 6, with buyers and sellers preferring to avoid transactions until the price trend becomes clearer, sources told Fastmarkets.Most European buyers have sufficient flat steel stocks to last until the end of the year. Buyers will have to return to the market in November at the latest because they will need to plan for the...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 6.Key driversEuropean ferro-titanium and titanium scrap markets extended their steady trend for a fifth consecutive week, with suppliers holding offer prices against expected renewed demand from steel mills.Deals were reported within current price ranges, but the bulk of expected renewed quarterly demand from steel mills for...Read More
Iron ore prices were largely stable on Wednesday October 6 amid low liquidity in both the physical and futures markets during the Chinese Golden Week holidays, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $116.71 per tonne, up $0.13 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.63 per tonne, up $0.29 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.31 per to...Read More
The tin market has yet to solve the supply-demand imbalance evident throughout this year, but artisanal mining has become an even more crucial part of the market, panelists at the AMT Virtual Tin Market Forum noted on October 6.Thethree-month tin price on the London Metal Exchange has traded on average above$30,000 per tonne since June, rising by around 70% since January of thisyear. The stee...Read More
London Metal Exchange base metals closed mostly down on Wednesday October 6, with most of the market closely watching macroeconomic developments in China and the United States.Still, analysts noted that while risks from macroeconomic events put downward pressure on base metals prices, a lack of supply across commodities continues to keep metals relatively range-bound."Our base metals in contrast r...Read More
Turkey's steel and industrial gas producer Habas is planning to start hybrid vehicle production at a former Honda plant, according to a report seen by Fastmarkets.Honda terminated vehicle production in its plant in Kocaeli, Turkey, in September 2021. Habas is in touch with almost 30 engineering companies to start hybrid...Read More
Vietnamese steelmakers have dipped back into the deep-sea import market for steel scrap following a sudden surge in Japanese offer prices, sources told Fastmarkets on Wednesday October 6.Vietnam books fresh deep-sea cargoesTaiwan import prices remain high after strong Japanese offersScrap import prices in India move up following shredded dealVietnamVietnamese steel mills are purchasing bulk deep-s...Read More
Philippine steelmakers have come back to the import market for steel billet while key buyers in China are celebrating National Day holidays, sources said on Wednesday October 6.Russian 5sp 125mm electric-arc furnace (EAF) billet was sold at $690-693 per tonne cfr Philippines this week, several key market participants told Fastmarkets on Wednesday.A European trader said that the 125mm EAF billet ca...Read More
Turkey's steel and industrial gas producer Habas is planning to start hybrid vehicle production at a former Honda plant, according to a report seen by Fastmarkets.Honda terminated vehicle production in its plant in Kocaeli, Turkey, in September 2021. Habas is in touch with almost 30 engineering companies to start hybrid...Read More
Steel rebar prices increased in the domestic market in Russia's Central Federal District around Moscow in the week ending Monday October 4, with local producers taking advantage of the low stocks of both traders and end-users to raise offers, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Moscow, Russia was 55,500-59,000 roubles (...Read More
Brazilian mineral production rose by 9.61% year on year in January-August 2021 amid the inauguration or reopening of some iron ore operations in the country, national mining institute Ibram said on Wednesday October 6.The country produced 833 million tonnes in the first eight months of 2021, up from 760 million tonnes a year before, according to the association. In the same period, mining revenues...Read More
Numerous challenges are ahead for the graphite industry while it develops to meet the needs of the rapidly growing electric vehicle (EV) sector. While debate persists around cathode chemistries, with LFP cathodes gaining ground in China in recent months at the expense of NCM cathodes, these various lithium-ion battery chemistries are all utilizing graphite anodes. In the coming years, exponential...Read More
Significantly rising energy prices have forced European steelmakers to look for ways to compensate for surging production costs, but mills lack a unified approach to the problem; some are introducing energy surcharges while others prefer to focus on raising the price of steel, sources told Fastmarkets on the sidelines of the Made in Steel 2021 trade fair in Milan, Italy.In October, prices for gas...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 6 that are worth another look.Significantly rising energy prices have forced European steelmakers to look for ways to compensate for surging production costs, but mills lack a unified approach to the problem; some are introducing energy surcharges while others...Read More
The publication of Fastmarkets' Shanghai copper cathode premiums was delayed on October 5 because of a reporter error.Fastmarkets' pricing database has since been updated. The data for October 6 is unaffected.The below prices have now been updated:MB-CU-0405 - Copper grade A cathode premium, in-whs Shanghai, $/tonneMB-CU-0383 - Copper grade A cathode ER premium, bonded in-whs Shanghai, $/tonneMB-C...Read More
London Metal Exchange base metals closed mostly down on Wednesday October 6, with most of the market closely watching macroeconomic developments in China and the United States.Still, analysts noted that while risks from macroeconomic events put downward pressure on base metals prices, a lack of supply across commodities continues to keep metals relatively range-bound."Our base metals in contrast r...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 6. Please click...Read More
Turkish steel producers resumed their deep-sea scrap purchases for November shipments after a short break, market participants told Fastmarkets on Wednesday October 6.A steel mill in the Marmara region booked a US cargo, comprising 22,000 tonnes of HMS 1&2 (80:20) at $448 per tonne and 8,000 tonnes of shredded at $463 per tonne cfr.And a steel mill in the Iskenderun region booked a Baltic Sea carg...Read More