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HRC steel: trading activity in EU restrained despite manufacturers’ rebates
The European hot-rolled coil market experienced modest trading activity on Oct. 14, despite discounts from steel producers. High inventories at distributors, destocking by the end of the year and low demand from end consumers, including the automotive industry, led to...
Copper: prices move sideways in a narrow range
Copper prices continue to show signs of short-term consolidation after a brief rebound that stalled in late August. Meanwhile, the bottom found in mid-July and the peak of the subsequent rebound have created a short-term trading range for the current sideways trend....
Copper: Codelco proposes 2023 European premiums at record levels
Chile's Codelco, the world's largest copper mine, is proposing to sell copper to European buyers at a record premium of about $235/ton for 2023, up sharply from 2022. The premiums set by state-owned Codelco for physical delivery of copper, paid on top of the London...
Steel Italy: stagnation continues for CRC and HDG
Stagnation continues in the Italian markets for cold-rolled and hot-dip galvanized coils. However, the past ten days have seen additional demand. Producers have agreed to more contracts, particularly for export sales to neighboring European markets such as France and...