TELF AG Unpacks Key Commodities Insights in 2023 Market Roundup Week 39
Sep 29, 2023
Summary
Commodities trading firm TELF AG has released its Market Roundup for Week 39 of 2023, providing a comprehensive analysis of key market trends in various sectors. European natural gas futures have risen by over 9% to above €39 per megawatt-hour due to supply concerns caused by strikes in Australia and outages in Norway. The chrome ore sector has experienced a modest increase in prices driven by market sentiment and restocking activities ahead of China's Golden Week holiday, although delays in shipments from South Africa are creating supply concerns. In the FeCr sector, Chinese output increased, while European and U.S. spot prices decreased but are expected to rise due to increased demand. The manganese market has slowed down ahead of China's week-long holiday, with reduced offers and concerns over demand in the fourth quarter. Chinese FeSi prices have reached their highest level since April due to strong futures prices and increased production costs. In the stainless-steel sector, China is expected to produce significant amounts in August and September, while production in Europe and the U.S. has declined. The market also anticipates a decline in copper cathode premiums in 2024 due to factors such as reduced interest in long-term contracts and increased domestic output in China. The press release also mentions a conditional agreement between Glencore and Li-Cycle of Canada to develop a battery recycling center in Italy, with a feasibility study expected to be completed by mid-2024. For a more detailed analysis, readers can refer to the full article.
About TELF AG: TELF AG is a full-service international physical commodities trader with 30 years of experience. The company provides marketing, financing, and logistics solutions for commodities producers worldwide, operating globally from its headquarters in Lugano, Switzerland. TELF AG strives for innovation and customer-focused solutions, aiming to facilitate long-term partnerships and access to global markets.
TELF AG has released its in-depth Market Roundup for Week 39 of 2023, offering a detailed analysis of key market trends in sectors including gas, chrome ore, FeCr, Mn, FeSi, stainless steel, base metals, and battery materials.
Lugano, Ticino, Switzerland - September 29, 2023 —
According to the report, European natural gas futures have risen above €39 per megawatt-hour, marking a more than 9% increase this week. This uptick is mainly influenced by supply concerns that have been exacerbated by Australian strikes and Norwegian outages. As per the company, traders are keeping a watchful eye on multiple risk factors, including U.S. outages and potential disruptions in Russian gas exports.
In the chrome ore sector, TELF AG states that UG2/MG Cr ore prices experienced a modest increase, driven by market sentiment and restocking activities ahead of China's Golden Week holiday. Delays in shipments from South Africa are creating additional supply concerns.
As for FeCr, TELF AG said the Chinese output of HC FeCr increased by 3.5% month-over-month in August, reaching 641 kt. Meanwhile, European and U.S. spot prices decreased by 2% and 5% during August but are anticipated to rise due to increased demand.
Manganese market activity has slowed ahead of China’s week-long holiday, TELF AG reports. Traders have reduced offers for 44% lump in efforts to secure deals, and there are looming concerns over demand for the fourth quarter.
The commodities trading firm also notes that Chinese FeSi prices have moved up this week, reaching their highest level since April at RMB7,628 per tonne. This increase is attributed to strong futures prices and escalated production costs.
According to TELF AG, China is expected to produce 3.2 Mt in August and 3.25 Mt in September in the stainless-steel sector. On the other hand, production in Europe and the U.S. has declined, mainly due to weak downstream demand and elevated inflation levels.
Turning to base metals, it anticipates that copper cathode premiums will decline in 2024. This is attributed to factors such as a lack of interest in long-term contracts and increased domestic output in China.
On the topic of battery materials, the report says that Glencore and Li-Cycle of Canada have conditionally agreed to expedite the development of a battery recycling center in Italy. A definitive feasibility study for the project's second phase is expected to be completed by mid-2024.
To gain a more comprehensive understanding of the details in TELF AG’s 2023 Week 39 Market Roundup, readers can take a look at the full article. For more insights and content, visit TELF AG’s Media Page.
About Us: About TELF AG: TELF AG is committed to leading the way in solutions and continually strives for innovation through its initiatives. It is a full-service international physical commodities trader with 30 years of experience in the industry. Headquartered in Lugano, Switzerland, the company operates globally, serving customers and providing solutions for commodities producers worldwide. TELF AG works in close partnership with producers to provide effective marketing, financing, and logistics solutions, enabling suppliers to focus on their core activities and access far-reaching markets wherever they may be. Its flexible, customer-focused approach allows TELF AG to create tailor-made solutions for each producer, facilitating long-term partnerships. Additionally, consumers widely recognize them for their operational excellence and reliability.
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