Global scrap prices in all the major markets recovered
during the working week ended October 18, boosted by lower material availability and rising Turkish import prices.
An increase in copper concentrate treatment and refining charges
(TC/RCs) so far this month reflects a drop in the number of spot deals ahead of annual contract negotiations that are set to start during the annual London Metal Exchange Week gathering.
Import prices for hot-rolled coil and cold-rolled coil (HRC, CRC) into South America have fallen
in the week ended October 18, with producers from many regions competing for clients.
China’s domestic spot battery-grade lithium compound prices softened
this past week, attributed to widespread negative short-term sentiment due to slow downstream buying.
Market participants in both China and Europe have been taking a wait-and-see approach
to procurement in the run-up to the auctions of four cargoes of minor metals formerly held by the Fanya Metal Exchange.