An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
All futures prices on the London Metal Exchange showed decreases of more than 3% at the close of trading on Friday February 26, with a mix of consolidation and profit-taking on the base-metals complex just a few days after they all rallied to new year-to-date highs.Lead and zinc's three-month prices were down by 5% and 3.4% respectively at the 5pm close, to $2,052.50 per tonne and $2,792.50 per to...Read More
Aluminium stock volumes in Shanghai bonded warehouses more than doubled in February 2021 on increased import activity due to a favorable arbitrage between London and Shanghai.A marginal decline was recorded in Shanghai bonded copper stocks over the month to Friday February 26, while zinc and nickel inventories both stayed flat.Aluminium stocks surge on open arbitrageFastmarkets assessed Shanghai b...Read More
Brazilian miner Vale has cut the forecast for its own copper production in 2021 to 360,000-380,000 tonnes, from 390,000 tonnes previously, because of new safety measures that could reduce machinery usage in its units, the company said on Thursday February 25.Output at Salobo, in Brazil's northern state of Par??, was expected to be the most significantly affected by the changes, which were estimate...Read More
A summary of the financial results for Chilean state-owned copper producer Codelco in 2020, as stated in its annual earnings report released on Friday February 26.In brief Copper production increased during 2020, despite the negative effects of the Covid-19 pandemic, due to higher processing rates and copper grades in mined ore, the company said. In 2021, Codelco expects a copper production of 1.6...Read More
The spot market for copper concentrate was little changed in the week ended Friday February 26, despite a flurry of lower bids and offers.Fastmarkets' copper concentrates TC index, cif Asia Pacific, was $35.80 per tonne on Friday, the same as a week before and the lowest price on records that go back to 2013.Several market participants cited a...Read More
London Metal Exchange metals prices were all lower on Friday February 26, following a spike in US 10-year Treasury bonds and a higher US Dollar Index.Tin and copper futures prices fell from their recent highs amid profit-taking, while nickel dropped below $19,000 per tonne.Yields on the 10-year US Treasury bonds jumped to 1.6% on Thursday before drifting down to 1.43% on Friday morning, but the ri...Read More
Deliverable base metals stocks at Shanghai Futures Exchange-registered warehouses all rose in the week to Friday February 26, with copper recording the largest gain in percentage terms at 31.2%, according to the exchange's latest stocks report.Copper stocks totaled 147,958 tonnes on Friday, an increase of 35,170 tonnes from 112,788 tonnes a week earlier.The inflows mainly occurred at warehouses op...Read More
Prices for cold-rolled coil and galvanized steel sheet in the United States have again jumped to all-time highs after producers told customers that they may not be able to sell any spot tons in the first half of the year. Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US climbed to $70 per hundredweight ($1,400 per short ton) on Thursday February 25 from $69 per cwt ($1,...Read More
Hot-rolled coil prices in the United States remained above $61 per hundredweight, with market participants scrambling to find spot material, according to market participants.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $61.72 per hundredweight ($1,234.40 per short ton) on Friday February 26, down by 0.21% from $61.85 per cwt on February 25 but up by 1.83% from $60....Read More
Brazilian flat and long steel producer Gerdau was carrying out a maintenance stoppage late this month at its integrated steel unit in Ouro Branco city, in the country's southeastern Minas Gerais state.The maintenance work will involve Gerdau's blast furnaces, steel mill and rolling facilities, and was expected to last for three weeks, the company told Fastmarkets on Friday February 26."Supply [of...Read More
The price range for Indian hot-rolled coil exports narrowed slightly in the week ended Friday February 26 with HRC prices in Asian markets moving upward.Prices for Indian HRC exports to Europe remained stable even while Indian mills continued to restrain their export tonnages of such material to stay within European quota limits.The price of steel HRC (commodity), export, fob main port...Read More
Domestic prices for steel hot-rolled coil in Northern Europe increased day on day on Friday February 26, with European steelmakers increasing their offers for coil products amid good demand and short supply, sources said.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, ex-works Northern Europe at ?,?738 ($899.86) per tonne on Friday, up by ?,?3 from ?,?735 per tonne the prev...Read More
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Hot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliWith the management of the Augusta Group, which has an unrivalled track-record of value creation in exploration and development within the mining sector, totalling over $4.5 billion in exit transactions in the past decade, Solaris Resources is emerging as a force to be reckoned with as it pushes ahead with an expanded drilling pr...Read More
Auteco has the right ingredients with PickleSPONSOREDauteco mineralsAzure's Western Australia nickel success could get golden hueSPONSOREDazure mineralsHot Chili knock, knock, knockin' on tier 1 doorSPONSOREDhot chiliMegatrends 2035: How expansion of megacities will impact demand for commodities?EUR
Pig iron export prices from the south of Brazil increased again in the week to Friday February 26 on reports of new deals being done, with at least one shipment destined for the US.Fastmarkets' price assessment for pig iron, export, fob port of Vitoria/Rio, Brazil was $500-515 per tonne on Friday, up from $480-500 per tonne a week before.One sale of pig iron from the south of Brazil was heard to t...Read More
The pig iron import market in the United States continued to strengthen during the week to Friday February 26 on further restocking and increased freight rates, market sources said.Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was $550 per tonne on Friday, an increase of $30-40 from $510-520 per tonne a week ago.One large pig iron buyer continued to restock, buying a c...Read More
Steel scrap prices have increased across all major markets over the week to Friday February 26, driven by strengthening steel markets and a jump in bulk freight rates.Turkish mills continue to book cargoes at higher pricesUS export prices rise in sales to South Korea, TurkeyVietnamese buyers juggle tight billet-scrap spreadsTaiwan import market boosted by strong freight ratesIndia market mirrors i...Read More
The price of austenitic steel scrap in the UK and Europe moved up in the week ended Friday February 26, but a drop in the price of nickel on Friday meant that a downward correction next week was likely, sources have told Fastmarkets.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,210 ($1,694-1,708) per tonne on Friday, an...Read More