Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
The Brazilian government has decided to suspend the imposition of anti-dumping duties on imports of hot-rolled coil from Russia and China, according to a decision published in the country's official gazette on Friday January 17.The government imposed anti-dumping duties for five years on Russian and Chinese HRC in January 2018 but immediately suspended the measure for one year due to "public inter...Read More
Aluminium billet premiums in Brazil and Japan ticked down on Friday January 17 due to weak demand, while premiums in Europe and the United States were steady on unchanged fundamentals.Brazilian premium falls, but sentiment optimistic Japanese premium declines on slow demand European premiums flat in quiet conditions US premium stable at all-time low BrazilThe premium in Brazil was dampened by slug...Read More
The three-month zinc price on the London Metal Exchange was higher at the close of trading on Friday January 17, with price action settling comfortably above the $2,400-per-tonne support level despite moderately low turnover across the complex, while a steady incline in LME tin saw prices breach nearby resistance. Zinc's outright price on the LME settled at $2,429.50 per tonne on Friday afternoon,...Read More
Liquidity was high for alumina on an fob Australia basis during the week ending January 17, but prices failed to find any long-term support above $275 per tonne.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $275.18 per tonne on Friday January 17, down only slightly from $275.93 per tonne on Thursday. The index has traded between $275 and $278 per tonne since December...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday January 17.China The seaborne price of low-grade manganese ore rose due to deals achieved at a higher price for March-delivery cargoes on Friday. The seaborne price of high-grade manganese ore was stable amid a lack of activity among producers and sellers. China's domestic portside manganese ore pric...Read More
Liquidity was high for alumina on an fob Australia basis during the week ending January 17, but prices failed to find any long-term support above $275 per tonne.Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $275.18 per tonne on Friday January 17, down only slightly from $275.93 per tonne on Thursday. The index has traded between $275 and $278 per tonne since December...Read More
Fastmarkets copper concentrates treatment and refining charges (TC/RCs) continued to increase this week, with smelters and traders now largely squared for the first quarter. The index on a cif Asia Pacific basis stood at $56.2 per tonne/5.62 cents per lb, up slightly from $56.1/5.61 cents a week ago. Traders are looking to pick up mined tonnages at or around $50 per tonne/5 cents pe...Read More
Cobalt prices consolidated at higher levels in the second half of the week ended Friday January 17, with traders continuing to restock and consumers looking for inventory top-ups.The price for cobalt, standard grade, in-whs Rotterdam, rose by 1.55% to $16.00-16.70 per lb on Friday, up from $15.70-16.50 per lb midweek, when it was unchanged from the end of last week.Fastmarkets' corresponding price...Read More
An overview of the minor metals markets and their latest price moves.Read More
The long-term impact of China renaming scrap metal as renewable material remains to be seen, sources said, citing a potential increase in scrap exports from the United States to the Asian nation, although China's scrap import quota system will continue through 2020.The impact of China restricting scrap imports was felt keenly in the US for much of 2019, which saw an oversupplied market with soft d...Read More
Austenitic stainless steel scrap prices in Europe were largely stable this week on relatively stable nickel costs, Fastmarkets heard on Friday January 17.Fastmarkets' price assessment for stainless steel scrap 316 solids, domestic, delivered merchants UK, was ?1,170-1,200 ($1,528-1,567) per tonne on Friday, unchanged week-on-week.The corresponding...Read More
The price of ferrous scrap imported into India dropped this week after a sudden sharp fall on the international scrap market had a knock-on effect, sources have told Fastmarkets.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, was $313.61 per tonne on Friday January 17, down from $317.35 per tonne on January 10.This was the first time the price had fallen sinc...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday January 17.China The seaborne price of low-grade manganese ore rose due to deals achieved at a higher price for March-delivery cargoes on Friday. The seaborne price of high-grade manganese ore was stable amid a lack of activity among producers and sellers. China's domestic portside manganese ore pric...Read More
Cobalt prices consolidated at higher levels in the second half of the week ended Friday January 17, with traders continuing to restock and consumers looking for inventory top-ups.The price for cobalt, standard grade, in-whs Rotterdam, rose by 1.55% to $16.00-16.70 per lb on Friday, up from $15.70-16.50 per lb midweek, when it was unchanged from the end of last week.Fastmarkets' corresponding price...Read More
Domestic hot-rolled coil prices in Northern Europe are expected to rise next week on a lack of competitive import offers and an improvement in demand, sources told Fastmarkets on Friday January 17.Fastmarkets' daily steel HRC index domestic, ex-works Northern Europe, was ?,?443.78 ($494.67) per tonne on Friday, up by ?,?0.68 per tonne from ?,?443.10 per tonne the previous day. Over the past week,...Read More
Import prices of flat-rolled steel in South America made no clear trend for the week while negotiations between sellers and buyers for March shipments intensified and put some markets under pressure ahead of the Chinese New Year break (January 24-30).Fastmarkets assessed the price for steel hot-rolled coil import, cfr main ports South America at $530-555 per tonne on Friday January 17, up from $52...Read More
Traders reported a spike in interest for China-origin hot-rolled coil in the export market on Friday January 17 amid limited offers from mills ahead of the Chinese New Year break next week.DomesticEastern China (Shanghai): 3,860-3,880 yuan ($561-564) per tonne, unchangedNorthern China (Tangshan): 3,590 yuan per tonne, unchangedPrices were unchanged with sellers keeping offers stable amid the pre-h...Read More
Prices in Southeast Asia's steel billet market fluctuated over the week to Friday January 17 amid improving demand from the Philippines, although market participants were bearish on price levels following the decline in ferrous scrap prices. Ferrous scrap prices in the bellwether Turkish import market fell by more than $15 per tonne on Thursday amid poor rebar sales and lower scrap collection pric...Read More