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European authorities have approved an adjustment to the safeguard quota system, lowering the annual quota increase amount to 3%, as part of a review of the existing safeguard mechanism on September 4, market sources told Fastmarkets on Friday September 6.
Spot copper concentrates treatment and refining charges (TC/RCs) edged up in the first week of September with Chinese smelters adhering to the pricing floor and traders bidding less aggressively due to a cautious fourth-quarter outlook.
Strong gains in nickel prices since the start of the month and the expectation that this strength will persist are likely to slow the pace of nickel-rich battery adoption in the electric vehicle (EV) market in the near term, market participants told Fastmarkets.
European aluminium scrap prices universally dipped on September 6 with the effects of China’s moratorium on non-ferrous scrap imports finally being felt amid a loosening scrap supply picture.
Manganese ore prices continued to soften over the past week, after a reduction in the September prices for silico-manganese further damped sentiment in the market.