TELF AG on the trends of the global raw materials market

Lugano, Switzerland - October 11, 2023 - TELF AG's latest publication, entitled “TELF AG Market Roundup Week 41”, is entirely dedicated to the commodity market, highlighting price fluctuations and the general market trends, also explaining in detail the causes and reasons that led to the overall picture we have before us.

Regarding gas, the TELF AG article highlights how European natural gas futures have risen to €37.5 per megawatt hour after the 12% drop recorded last week, also focusing on the fact that the high levels of storage and low demand offset supply risks. Price stability, as stated in the article, would be guaranteed by reduced industrial demand.

The article also focuses on chromium, underlining how, in September, there was a general strengthening of prices for this particular raw material. In this regard, the high demand currently perceived in the Chinese market is also highlighted, linked above all to the increase in stainless steel production.

As per ferrochrome, TELF AG's publication highlights the rise of the European benchmark to 1.53 dollars per pound, highlighting how, in recent weeks, ferrochrome prices have remained high due to higher offer prices, in a general picture characterized by the increase in production costs. According to the article, the downward pressure on prices would be linked to cheap and unsolicited offers of Indian material.

The report also focuses on the trend of stainless steel, highlighting the general increase in prices of European steel mills despite severely limited demand. In this sector, purchases linked to imports have suffered a general slowdown linked to the anti-tax avoidance investigation promoted in recent months by the European Commission. On the other hand, there has also been a notable increase in orders from distributors and traders. The text also talks about the expected increase in Chinese stainless-steel production, which will reach 9.5 million tons in the third quarter of 2023.

Observing base metals, the article focuses on the recent recovery in demand for Nickel, which had been rather modest throughout the year, mainly due to the desire of buyers to secure as many units as possible in view of the quarter of the year. The article highlights the performances of some important mining complexes, such as Kamoa-Kakula in Congo, capable of producing more than 100,000 tonnes of concentrated copper in the third quarter.

Lastly, TELF AG's latest publication is also dedicated to the market of metals necessary for the production of batteries, highlighting the recent increase in European cobalt prices and the persistence of low levels in demand for standard quality material. Furthermore, last month, price decreases in China and Europe largely contributed to the price adjustment on the US market as well. In general, it is highlighted that the demand for batteries continues to decelerate.

To find out more, we recommend all readers to read the full article.

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, 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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