TELF AG’s offers insights into the market dynamics and key factors impacting various industries, aiding businesses and investors in making informed decisions.
— TELF AG Analysts
LUGANO, TICINO, SWITZERLAND, July 3, 2023/EINPresswire.com/ — Lugano, Switzerland – TELF AG, a full-service international physical commodities trader, has released its 2023 Week 27 Market Round-Up Insights report. The report comprehensively analyzes macroeconomic trends and developments in the ferro-alloys, stainless steel, base metals, and battery materials sectors. TELF AG’s report offers insights into the market dynamics and key factors impacting various industries, aiding businesses and investors in making informed decisions.
Here are some key highlights from the 2023 Week 27 Market Round-Up Insights report:
Macro:
Oil: Brent crude futures remained steady above $74 per barrel, benefiting from tightening global supply despite concerns about demand. US crude inventories declined significantly, surpassing market expectations. Saudi Arabia’s plans to reduce output further and the OPEC+ agreement to limit supply until 2024 also supported the market.
Gas: Natural gas futures in Europe remained stable, although there were supply concerns due to reduced imports from Russia and outages at Norwegian gas fields. The closure of Europe’s largest gas site near Groningen was also announced. However, Europe’s gas storage levels were at a record high for this time of the year.
Freight: The Baltic Dry Index (BDI) experienced a decline due to weak demand and reduced shipping activity. Minimal demand from Asia and lower activity in the Atlantic routes impacted rates.
Ferro-alloys:
Chrome ore: Prices for UG2/MG chrome ore decreased, influenced by lower deals and concerns over the depreciation of the Chinese yuan. Turkish lumpy chrome ore prices also drifted lower during the session.
FeCr: The European charge and high-carbon ferrochrome benchmark for Q3 2023 settled at $1.51 per lb, reflecting a weakening spot market. Chinese stainless steel mill Tsingshan reduced its tender price for high carbon ferrochrome, and FeCr prices in the Chinese domestic market remained stable.
SiMn: China’s SiMn prices declined ahead of July tenders, with a stagnant market and limited willingness to lower prices further.
FeSi: China’s FeSi market continued to slow due to weak demand and low raw material prices, with production decreasing. Exporters reported a bearish export market with significantly lower prices.
Stainless Steel:
Turkiye’s competitiveness in the steel sector was negatively affected by various factors, including the energy crisis, the impact of Russia’s war in Ukraine on the supply chain, and economic instability.
ArcelorMittal Spain plans to restart its fire-hit BF A in Gijon after three months of downtime. However, ArcelorMittal’s Fos-sur-Mer operations were ordered to close due to concerns over employees’ exposure to toxic products and dust.
Base Metals & Battery Materials:
LME base metals futures prices on the London Metal Exchange were mixed, with copper showing strength while aluminum and nickel traded lower. The US consumer expenditures price (PCE) index eased, resulting in a weaker US dollar and impacting the market.
Copper: Copper cathode inventory in China’s bonded zones decreased, and import losses turned into profit amid high premiums in the domestic spot market.
Nickel: Diverging priorities among consumers of nickel sulfate in Europe and North America impacted premium levels and resulted in differentiated price levels.
Battery Materials: Livista Energy Europe announced plans to build its first low-carbon lithium refinery in Germany to supply the growing European electric vehicle industry. South Korean buyers anticipated intense competition for battery-making materials, driven by increased demand in Southeast Asia and China.
The Week 27 Market Round-Up Insights report provides a comprehensive analysis of these and other important market developments, helping businesses and investors stay.
For detailed insights and comprehensive analysis, please follow this link to access TELF AG’s 2023 Week 27 Market Round-Up Insights report: https://telf.ch/telf-ag-2023-market-roundup-week-27/
About TELF AG:
TELF AG 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, as well as financing and logistics solutions, which enable suppliers to focus on their core activities and to access far-reaching markets wherever they may be.
Its flexible, customer-focused approach allows TELF AG to create tailor-made solutions for each producer, thereby facilitating long-term partnerships. Additionally, consumers widely recognize them for their operational excellence and reliability.
Rick De Oliveira
TELF AG
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