London Metal Exchange three-month base metals prices trended lower at the close on Tuesday September 8 with concern over macro-economic headwinds inspiring a sell-off across the complex.While macroeconomic developments - including promises of increased infrastructure spending and hopes of a trade deal between China and the United States - have supported recent price increases, some...Read More

A summary of base metals premiums from across the globe for the week to Tuesday September 8.Please click...Read More

Physical base metals trader Oddo BHF Metals joined the Aluminium Stewardship Initiative (ASI) as a general supporter member on Tuesday September 8.The move came while market participants throughout the supply chain sought to increase their presence in the low-carbon aluminium sector, which has taken off in the past six months.ASI is a global non-profit standards-setting and certification organizat...Read More

Raffmetal - Europe's largest secondary aluminium producer - has been awarded the Aluminium Stewardship Initiative (ASI) 'Performance Standard' certification for its refining operations in Casto, Italy, the company told Fastmarkets on Tuesday September 8.Raffmetal's accreditation is the latest in a slew awarded in 2020, including primary aluminium producers Alvance Aluminium and Impol, while other...Read More

From cars to air-conditioning units, copper intensive sectors are showing signs of an unexpected boom in China, prompting calls that the metal's price could rise further into next year amid shrinking supply stocks, Fastmarkets understands.Hitting $6,380 per tonne last week, the London Metal Exchange's three-month copper price has surged past pre-pandemic levels to its highest since June 2018, desp...Read More

Vale Canada - subsidiary of Brazilian multi-metal miner Vale - and Australian zinc producer New Century Resources have failed to reach an agreement in the latter's 95% acquisition of Vale New Caledonia (VNC), the former announced on Tuesday September 8.The announcement brings the exclusivity period under which the prospective sale was being negotiated between the two entities to an end after negot...Read More

The London Metal Exchange three-month zinc price lagged in morning trading on Tuesday September 8, tumbling by some 2% despite a widening in its forward curve, while fresh concerns of US-Sino trade tensions and rising coronavirus cases pushed the complex lower. Total global coronavirus cases are now at more than 27 million, with total deaths now at 887,526, World Health Organisation (WHO) data sho...Read More

Prices for carbon steel plate in the United States held steady week on week while mills increased asking prices in the aftermath of their late-August round of increase notifications. There was no consensus over mills' near-term ability to collect their announced plate price increases in full during a period of exceptionally weak demand for the item. A jump in scrap input costs eventually may tip t...Read More

CIS-based producers of steel wire rod and rebar have continued to raise their offer prices for foreign customers, with support from rising raw materials costs and finished long steel prices in competitors' markets, particularly Turkey, as well as a supportive domestic market in Russia.Demand in the major outlets has not, however, been strong enough to drive full acceptance of the new round of pric...Read More

The price of steel rebar imported to the United Arab Emirates increased this week because of high production costs, market sources said on Tuesday September 8.Domestic rebarSince August 17, producers in the UAE have been offering rebar at 1,800-1,830 dirhams ($490-498) per tonne ex-works for September production, with deals heard over the past week at 1,730...Read More

Some flat steel import prices in the United Arab Emirates and Saudi Arabia moved up again this week, although demand was moderate, sources told Fastmarkets over the week to Tuesday September 8.Some deals for flat steel imports were heard done at higher levels over the assessment week, which sources said were primarily for restocking purposes, Fastmarkets heard.UAEOffer prices for hot-rolled coil (...Read More

Steel slab exporters from the Commonwealth of Independent States (CIS) are testing the market with a new round of offer increases, supported by the continuing uptrend in the raw materials and finished flat steel products sectors, Fastmarkets heard on Tuesday September 8.A Russian producer shipping material from the country's Far East ports was heard to have agreed several deals last week around $4...Read More

The latest forecasts from Fastmarkets' team of analysts are ready to view.US hot-rolled coil (HRC) prices performed in line with our expectations in August, with US domestic HRC prices finding a floor in July as forecast before they rose in August. US HRC prices averaged $522 per tonne in August, which compares with our forecast price of $518 per tonne. Based on an improving demand outlook and ris...Read More

Crude Oil ETN (USO) moved below $26.82 extending an intermediate downtrend. Energy SPDRs (XLE) moved below $34.24 completing a Head & Shoulders pattern. Chevron (CVX), a Dow Jones Industrial stock moved below $80.35 completing a Head & Shoulders pattern. S&P Oil and Gas Exploration SPDRs moved below $47.19 completing a Head & Shoulders pattern.First Trust Natural Gas ETF (FCG) move...Read More

Iron ore prices in seaborne markets and ports were relatively stable on Tuesday September 8, while stricter sintering restrictions and market expectations of port congestion relief weakened bullish sentiment, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.12 per tonne, up $0.01 per tonne62% Fe low-alumina fines, cfr Qingdao: $129.16 per tonne, down $0.28 per tonne58% Fe...Read More

Seaborne premium hard coking coal prices changed marginally on Tuesday September 8, while there was one transaction in the fob market during the day while the cfr market was muted, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $110.47 per tonne, up $0.42 per tonne Premium hard coking coal, cfr Jingtang: $115.60 per tonne, down $0.28 per tonneHard coking coal, fob DBCT: $86.76...Read More

Japanese blast furnace(BF)-based steel mills have been using more scrap in their basic oxygen furnaces in recent weeks due to a rise in steel production and high costs for iron ore, market participants told Fastmarkets.BFs in the country cut steel production drastically in the first half of 2020, with the Covid-19 pandemic battering demand in the automotive and manufacturing sector.The index for J...Read More

China's coking coal import quotas have changed the dynamics of the seaborne market, making the trading of the steelmaking raw material more risky, time-consuming and expensive for traders.What was typically a month-long process for a vessel carrying Australian coking coal to deliver to China has stretched to at least four months after import quotas became scarcer and port restrictions became tight...Read More

China's hot-rolled coil producers kept export offers stable on Tuesday September 8 despite a weakening of domestic prices.DomesticEastern China (Shanghai): 3,980-4,020 yuan ($583-589) yuan per tonne, down 20-30 yuan per tonneA Shanghai-based trader said trading activity had thinned during the day in comparison with Monday, with buyers being reluctant to place orders amid falling futures.A second S...Read More

The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process...Read More