Nickel's three-month price on the London Metal Exchange came to its highest level in a month on Tuesday April 6, with a rise of 3%, while there were similar gains for copper and tin.Copper's intraday high reading was $9,104 per tonne, the highest level since it reached $9,145 per tonne on March 23. It followed a surge on its Chicago Mercantile Exchange price of 3.4% on Monday to $4.15 per tonne.&n...Read More

The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More

Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...Read More

Teck Resources and Mitsui Mining & Smelting have agreed annual supply agreements for lead concentrates with treatment charges (TCs) down by 19% from 2020 levels.Mitsui Mining and Smelting will receive a treatment and refining charge (TC/RC) of $141 per tonne / $1.50 per oz in its contract to purchase lead concentrates from Teck's Red Dog...Read More

Flat-rolled steel product export prices from the Commonwealth of Independent States (CIS) jumped again during the week to Tuesday April 6 sue to an overall shortage of material in the global market, sources said.Fastmarkets' weekly price assessment for steel hot-rolled coil (HRC), export, fob Black Sea, CIS was $885-895 per tonne on Tuesday, up by 5.64% from $830-855 per tonne on March 29."De...Read More

Slab export prices from the Commonwealth of Independent States (CIS) region continued to rise in early April, supported by a surge in finished flat steel markets domestically and abroad.Hot-rolled coil from producers in Russia and Ukraine was available to foreign customers at $885-905 per tonne fob at the beginning of April, depending on the coil weight and supplier, up by 4.09% from&nbs...Read More

Wire rod export prices from the Commonwealth of Independent States (CIS) region surged over the past week, supported by rising costs in the domestic and in competitor markets, Fastmarket learned.Russia-based Industrial Metallurgical Holding (IMH) increased wire rod offers to $740-750 per tonne fob Black Sea from $680-685 per tonne a week earlier amid higher costs in the domestic market."...Read More

Flat-rolled steel import prices in the United Arab Emirates (UAE) and Saudi Arabia increased during the week ended Tuesday April 6, with only a few offers received, sources told Fastmarkets.The slim number of offers stemmed from strong global flat-rolled steel demand from China and India, two main exporters to the Middle East.Saudi ArabiaIndia offered hot-rolled coil at $890-90...Read More

Europe's domestic prices for hot-rolled coil jumped on Tuesday April 6, with a shortage of material prompting buyers to accept prices targeted by mills, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index domestic, exw Northern Europe at ?,?885.00 ($1,042.59) per tonne on Tuesday April 6, up by ?,?41.67 per tonne from ?,?843.33 per tonne on April 1.The index was u...Read More

Domestic steel rebar prices in Russia's Central Federal District around Moscow edged up again on good end-user demand and tight supplies in April due to planned stoppages at key producers, sources told Fastmarkets on Tuesday April 6.Fastmarkets' price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 54,000 roubles ($707) per tonne, including 20% value-added tax, on A...Read More

Huntsman Set to Expand Nickel Sulphide Discovery at CanegrassSPONSOREDhuntsman explorationProduction in 2020 fell just 5% in 2020 to 5.7 million tonnes, despite the COVID-19 pandemic but with the sector still operating under restrictions, it is continuing to slide.Year-to-date production is down 2.8% at 882,700t compared to 908,100t in 2020 with BHP-controlled Escondida and Antofagasta Minerals' L...Read More

Wheaton Precious Metals (WPM), a TSX 60 stock moved above $US40.37 completing a reverse Head & Shoulders pattern. Kinross Gold (KGC), a TSX 60 stock moved above $US7.14 completing a double bottom pattern.Medtronic (MDT), an S&P 100 stock moved above $119.92 to an all-time high extending an intermediate uptrend. Micron (MU), a NASDAQ 100 stock moved above $95.75 to an all-time high extendin...Read More

Turkish deep-sea scrap import prices strengthened again on Tuesday April 6, with reports of a fresh Baltic Sea cargo, market sources told Fastmarkets.A steel mill in the Iskenderun region booked the Baltic Sea cargo of 20,000 tonnes of HMS 1&2 (95:5) at $430 per tonne cfr on Friday April 2.The previous deep-sea deal took place on April 1, when a steel mill in the Marmara region booked a Europ...Read More

The price spread between 62% Fe and 65% Fe iron ore fines reached a historical high in March as a result of various factors, according to market sources.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao was at $159.85 per tonne on Thursday March 25 while that for iron ore 65% Fe Brazil-origin fines, cfr Qingdao was at $190.40 per tonne.The spread between the two indices rose to a historica...Read More

Turkish domestic auto bundle scrap prices have continued increasing over the past week because of the weakening of the country's currency, market sources said on Tuesday April 6.The lira started a sharp decline following the surprise sacking of the central bank chief Naci Agbal by president Recep Tayyip Erdogan.The Turkish lira was trading at 8.132 lira to $1 on Tuesday April 6, compared with 7.2...Read More

Archegos was not a household name until about two weeks ago when it made headlines all over the world.Archegos Capital Management is a family office controlled by Bill Hwang, a former hedge fund trader. Family offices can be conservative in their investment approach, but they can also be as highly leveraged and as risky as any hedge fund, or even more so. It's up to the person managing the family...Read More

Seaborne premium hard coking coal prices in the cfr market remained largely unchanged due to weak supply and demand, while prices in the fob market edged up on an increase in buying interest on Tuesday April 6, sources told Fastmarkets.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.07 per tonne, up $0.03 per tonnePremium hard coking coal, cfr Jingtang: $214.42 per tonne, up $0.21 per...Read More

Import prices for heavy scrap into China are have continued to increase in the week to Tuesday April 6, amid strong domestic demand and regional rebounds, market sources told Fastmarkets.Buyers increased their bids to $465 per tonne cfr northern China, with offers at $500-505 per tonne cfr northern China.Key market sources estimated that the spot price for imported HRS101 scrap into northern China...Read More

Iron ore prices went up on Tuesday April 6 amid support from firmer prices traded on platforms but liquidity was still thin, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $170.90 per tonne, $2.42 per tonne62% Fe low-alumina fines, cfr Qingdao: $171.00 per tonne, up $1.00 per tonne58% Fe fines high-grade premium, cfr Qingdao: $153.25 per tonne, up $0.91 per tonne65% Fe Brazil...Read More

London Metal Exchange futures prices for copper, nickel, zinc and tin started the week with gains on Tuesday April 6, following positive economic data released in the United States and China on Monday. Tin's three-month price jumped by 3.4% to $25,985 per tonne at 9am on Tuesday, the biggest increase in the complex, closely followed by zinc, which was up 2.7% to $2,858.50 per tonne from last Thurs...Read More