IN CASE YOU MISSED IT: 5 key stories from December 3

Here are five Fastmarkets MB stories you might have missed on Tuesday December 3 that are worth another look.

ArcelorMittal has increased its offer prices in Europe for all flat steel products by €40 ($44) per tonne, effective immediately, market sources told Fastmarkets on December 3.

A second major aluminium producer has offered the light metal for delivery in the first quarter of 2020 to main Japanese ports (MJP) on a cif basis at a premium of $95 per tonne over the London Metal Exchange cash price, three market sources told Fastmarkets on December 3.

Sustained import losses for copper and zinc in November have caused Shanghai-bonded stocks to rise for the two base metals by around 3%, while a reversal of import conditions for nickel encouraged some trading houses to draw down bonded nickel stocks last month.

Deteriorating demand is adding continual downward pressure to Chinese and European alloy prices.

Vanadium prices are unsustainably low and sentiment and prices should improve as evidenced by the recent ferro-vanadium price increase in Europe, Largo Resources chief executive officer Paulo Misk told Fastmarkets.

What to read next
Read more from senior analyst Andy Farida on how the price action in LME nickel has played out in the first half of 2024
Tight aluminium scrap availability, the increase in container costs, sluggish demand in the US and the US market’s current indifference to rising premiums in Europe and Asia were the top subjects discussed during the Harbor Aluminum Summit that took place in Chicago on June 4-6
Germany-based copper recycling and non-ferrous metal provider Aurubis has started commissioning their secondary smelter in Augusta, Georgia, and could eventually introduce black mass recycling to the facility
Base metals on the London Metal Exchange were mixed in morning trading on Monday June 10, with three-month prices lacking direction amid thin traded volumes due a public holiday in China, the largest market for base metals
Copper concentrate treatment and refining charges have repeatedly fallen to record-low levels over the first five months of 2024
The publication of Fastmarkets’ assessments for the nickel briquette premium, delivered Midwest US and the nickel 4x4 cathode premium, delivered Midwest US for June 4 were delayed because of incorrect methodology application.