Copper and aluminium prices edged higher in morning trading on the London Metal Exchange on Wednesday November 10, but struggled to gain momentum.Aluminium rose by $31 to $2,587.50 per tonne, after falling 1.9% at Tuesday's close.Trading volumes of the light metal continue to be the highest of the complex, but just over 4,000 lots had traded by 9:30am London time.The aluminium price has been incre...Read More
Spot prices for hot-rolled coil in China fell sharply on Wednesday November 10, with a pessimistic demand outlook and waning costs knocking futures prices to an 11-month trough.DomesticEastern China (Shanghai): 4,650-4,710 yuan ($728-737) per tonne, down by 240-250 yuan per tonneSpot prices were at their lowest level since February 5, while the most-traded HRC contract on the Shanghai Futures Exch...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Turkish flat steel producers need to avoid sudden price changes if they want to keep their share of the domestic and export markets, sources told Fastmarkets on Wednesday November 10."The producers increase their prices sharply when demand improves in any region, but such increases are not accepted by buyers," an executive with a Turkish steel producer said. "Then producers start giving discounts,...Read More
Cobalt hydroxide suppliers have made aggressive offers in negotiations for annual long-term contracts, sources told Fastmarkets on the sidelines of the Antaike Nickel & Cobalt conference in Ningbo, China, on November 1-3.Since the annual mating season in 2019, most cobalt hydroxide sellers and buyers have adopted a pricing mechanism for their long-term contracts for the crucial and preferred cobal...Read More
Iron ore prices went down on Wednesday November 10, in line with falling finished steel prices, with demand for iron ore weak in the physical market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $88.90 per tonne, down $3.40 per tonne62% Fe low-alumina fines, cfr Qingdao: $89.63 per tonne, down $3.83 per tonne58% Fe fines high-grade premium, cfr Qingdao: $61.23 p...Read More
Chile plans to invest $68.93 billion in 51 different mining projects during the years 2021-30, a 6.92% decrease from the $74.05 billion previously expected for 2020-29, national copper commission Cochilco said on Monday November 8.The largest capital expenditures on the list were a $5.57-billion copper reserve replacement at Codelco's El Teniente division, a $5.20-billion copper mining expansion t...Read More
The governments of the United Kingdom, India, Germany and Canada have announced a pledge to purchase low carbon-emission steel under the Industrial Deep Decarbonization Initiative (IDDI), it was announced on Tuesday November 9.The group of countries announced its intention to buy low-carbon steel and concrete at the UN Climate Change Conference, COP26, in Glasgow, with specific interim targets by...Read More
The nickel briquette premium in the United States gained 40.9% during the week to Tuesday November 9 on some forced spot buying, surpassing the cut cathode premium for the first time ever.Fastmarkets introduced assessments based on the shape of the nickel in March 2018. Square cut cathode commanded three times the premium for curved briquette at the start of this year.But throughout this year, sup...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 10.Key drivers European ferro-titanium spot prices were unchanged for the fourth week in a row after a tender for annual delivery in 2022 from Korean steel major Posco dragged on longer than expected. There have been no reported spot trades over the week to Wednesday November 10. Market participants expected the settlement...Read More
Turkish steel pipe export prices have increased over the past month on firm demand and limited supply, market participants told Fastmarkets on Wednesday November 10.Fastmarkets' monthly price assessment for steel structural pipe, export, S235JR grade, EN10219, 2mm wall thickness, fob main port Turkey, was $980-990 per tonne on November 10,...Read More
Europe's domestic prices for heavy plate moved down slightly in the week to Wednesday November 10 following a large rise a week earlier, sources told Fastmarkets.Sentiment in the market, however, remains bullish due to high energy, transport and slab costs. Last week, domestic plate prices jumped by ?,?70-100 ($81-116) per tonne, reflecting offers and some transactions heard in the market. This we...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Turkish steel mills resumed their deep-sea scrap imports on Wednesday November 10, with prices showing a slight downturn, market participants told Fastmarkets.A steel mill in the Marmara region booked a Baltic Sea cargo comprising 20,000 tonnes of heavy melting scrap 1&2 (80:20) at $497 per tonne and 10,000 tonnes of bonus at $517 per tonne cfr.The same mill booked a second Baltic Sea cargo consis...Read More
Trading activity was still limited in the European hot-rolled coil sector on Wednesday November 10, with buyers pausing their purchasing activity to assess the market, sources told Fastmarkets.Producers, meanwhile, have been insisting on increasing their prices for first-quarter-rolling coil in 2022, claiming that the rises were necessary due to higher costs for energy, transportation and carbon.S...Read More
Nickel premiums rose in Europe and the United States in the week ended November 10 due to tight supply conditions pushing premiums and spot activity higher; China retreated slightly amid an increased arbitrage loss.US nickel premiums continue to rise to historic highsPremiums in Europe rise to highest level in 2021Chinese premiums retreat slightly with arbitrage loss between London and ShanghaiEur...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 10 that are worth another look.Focusing on the United Nation's 17 Sustainable Development Goals could be a "better framework" to capture the overlap between the environmental, societal and governmental aspects that mining companies have to consider in their moves toward sustainability, the chief...Read More
Carbon offsets and trading are an effective and quick way to contend with a future global ecosystem of green taxes, or the "green taxonomy," a sustainability consultancy said"Companies need to realize that states are very actively preparing tax and duties plans to favor green products, and this will result in new barriers to entry,"carbon specialist and Keops Consulting founder Milena L??pez told...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide.....Read More