Chilean copper production decreased by 6.75% in September, compared to the same month in 2020, with all major mines in the country reporting lower figures, copper commission Cochilco said on Wednesday November 3.In September, some Chilean producers like Codelco faced workers' strikes, while a few also had drought issues and reported lower content in mined ore. These caused lower output during the...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 3.Please click...Read More
Prices for Japanese bulk shredded scrap have tumbled over the last week amid a drop in intake from a major Japanese blast furnace (BF)-based mill and discounted sales to South Korea.In late September, sources told Fastmarkets that shredded demand at BF-based mills had benefitted greatly from the tight supply of Shindachi prime scrap, but a reduction in shredded purchase volumes in recent weeks has...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up across the board on Wednesday November 3, suggesting dips are once again finding support. The European Union's manufacturing purchasing managers' index (PMI) out on Tuesday at 58.3, while slightly weaker than September's 58.5, still showed strong expansion, which will be helping to counter the slowdown in China.U...Read More
Prices for steel scrap imported into China decreased sharply due to the continued drop in both spot and futures prices for finished steel products in the country on Tuesday November 2, sources told Fastmarkets.China import price tumbles amid bearish sentiment dominating the steel marketsChinese mills cut domestic scrap buy prices againTaiwan secures containerized scrap cargoes at $475 per tonne cf...Read More
Base metals prices on the London Metal Exchange fell marginally across the board at the close of trading on Tuesday November 2, with macroeconomic forces driving the price movements.The market was awaiting results of the United States Federal Market Open Committee meeting on November 3. The three-month copper price fell by 0.6% to $9,495.50 per tonne, from $9,555 per tonne at Monday's close. Volu...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Flat steel import markets in the United Arab Emirates and Saudi Arabia were slow during the week ended Tuesday November 2 because of uncertainty over the price direction, sources told Fastmarkets.The uncertainty was because of recent price decreases from China, which controls over 50% of the global steel market.On the other hand, strong local demand in the Indian market prompted buyers to expect p...Read More
Russian steel mills have received a glut of orders for November deliveries of flat steel products, with active buying interest among stockists pushing up prices for hot-rolled steel in the country's Central Federal District around Moscow in the week to Monday November 1, sources have told Fastmarkets.The approaching expiry of the temporary export duty of $115 per tonne on hot-rolled (HR) sheet and...Read More
Operations at Antamina, Peru's biggest copper mine, have been suspended since last weekend because of a roadblock manned by community protestors, according to a company statement.The statement by Compania Minera Antamina, published on Sunday October 31, stressed its commitment to public safety and clear communication. It said that it feared the possibility of "intolerable criminal offenses" and "c...Read More
An overview of the chrome ore and alloy markets and their latest price moves in Asia, Europe and the United States on Tuesday November 2.China Alloy market sentiment strengthened after steel mill Tsingshan increased its November ferro-chrome tender prices by 500 yuan ($78) per tonne month on month. Prices of imported charge chrome rose, with some stainless steel mills needing to secure near-t...Read More
Replacing Section 232 tariffs on European aluminium products with tariff-rate quotas will result in even more trade distortions and create additional market instability for companies in both Europe and the United States, the head of industry association European Aluminium has said.The United States and the European Union (EU) reached an agreement over the weekend to replace the 10% tariff on...Read More
Rebar and billet prices decreased slightly in the United Arab Emirates because some mills discounted their prices, sources told Fastmarkets on Tuesday November 2.Demand for rebar has improved week on week because prices have now been announced, sources added.Domestic rebarLocal rebar mills announced new prices on October 24.Emirates Steel has been offering rebar at 2,490 dirhams ($678) per tonne e...Read More
Turkish steel scrap import prices fell sharply on Tuesday November 2, in line with the the latest bookings and amid increasing freight costs and limited finished steel sales to Turkey's key export outlets, market participants told Fastmarkets. On Tuesday, a steel mill in the Marmara region booked a deep-sea cargo from Puerto Rico, comprising HMS 1&2 (80:20) at $494 per tonne and shredded scrap at...Read More
Domestic steel rebar prices in Russia's Central Federal District around Moscow continued to rise during the week to Monday November 1 on depleted stocks and limited supply from the mills.Fastmarkets' assessment of the price for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 75,000-77,000 roubles ($1,053-1,081) per tonne cpt on Monday, including 20% value-added tax. This was up by...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 2 that are worth another look.Eurofer has welcomed the agreement between the European Union and the United States to replace Section 232 steel and aluminium tariffs against the bloc's 27 countries with tariff-rate quotas, the European steel association...Read More
China's Ganfeng Lithium and its subsidiary GFL International will supply United States-based automaker Tesla with battery-grade lithium hydroxide for three years, Ganfeng announced on November 1.The contract will run from January 1, 2022 until December 31, 2024, Ganfeng announced in a filing on the Shenzhen Stock Exchange.Purchase quantities and sales are not fixed and will be subject to Tesla's.....Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mainly weaker on the morning of Tuesday November 2, with concerns about headwinds affecting the Chinese economy denting sentiment. A 9.9% price drop in the January iron ore futures contract on the Dalian Commodity Exchange is weighing on sentiment. Iron ore prices were recently at 567 yuan ($89) per tonne, down fro...Read More