The Indian silico-manganese export market will come under pressure in the near term because of slow demand and falling manganese ore markets, Fastmarkets heard on Tuesday October 27.The market has been softening in recent weeks although it was now back at a level last seen on August 14.Fastmarkets' most recent price assessment for silico-manganese, 65% Mn min, min 16% Si, fob India, was $860-890 p...Read More
A summary of Spanish stainless steelmaker Acerinox's financial results for the third quarter of 2020 ended on September 30. In brief Group (stainless steel plus high performance materials) melt shop production in the third quarter of 2020 increased by 21% quarter on quarter, with profits recorded in the period following a loss-making second quarter. Conversely, sales decreased in the r...Read More
The discount paid for ferro-nickel with 26-32% nickel content in China increased slightly in October, with quiet spot trading reported, sources told Fastmarkets this week.Fastmarkets assessed the ferro-nickel premium/discount, 26-32% Ni contained, cif China at $900-1,300 per tonne on Monday October 26, compared with a discount of $1,000-1,300 per tonne on September 28.Spot trading was...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the main part firmer this morning, Wednesday October 28, this despite early weakness in major western equity index futures that were suffering because parts of Europe look set to escalate lockdown measures.* France is reportedly contemplating a one-month nationwide lockdown* Nickel prices surge as a nickel...Read More
U.S. equity index futures were sharply lower this morning. S&P 500 futures were down 52 points in pre-opening trade.This morning Bank of Canada is scheduled to release on update on the Canadian economy. No change in its 0.25% lending rate charged to major Canadian banks is anticipated.Microsoft slipped $0.41 to $212.84 despite reporting higher than consensus third quarter sales and earnings.Un...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
The three-month price of tin on the London Metal Exchange was the laggard at the close of trading on Monday October 26, losing just under 2% of its price against the highest daily volume count since September 23, while selling pressure saw the LME copper price sink below nearby support levels over the afternoon.Tin's outright price on the LME closed at $18,050 per tonne on Monday, recovering from...Read More
Aurubis, Europe's largest copper producer, sees its multi-metal strategy as a competitive advantage against a backdrop of precarious market conditions, with executive chairman to the board Roland Harings highlighting the company's acquisition and integration of Belgian-Spanish recycler Metallo as a step change in optimizing production. Despite pandemic-related setbacks, the German-based producer o...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Seaborne prices for both low-and high-grade manganese ore in China moved down for the third consecutive week in the week to Friday October 23, following deteriorating overall market sentiment amid weakening portside ore and alloys markets. Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $3.92 per dry metric tonne unit (dmtu) on Friday, down by 11 cents per dmtu, or 2.7%, from $4.03...Read More
The price of nickel ore in China was unchanged in the week to Friday October 23, supported by an already tight market and concerns of disrupted supply from the Philippines due to the latter's upcoming rainy season, market sources told Fastmarkets.Fastmarkets assessed the price of laterite ore with 1.5% Ni content, cif China, at $73-75 per tonne on Friday, unchanged from a week earlier and at its h...Read More
Limited availability and a solid outlook for electric vehicle (EV) demand have given annual contract negotiations for cobalt hydroxide a kick start, but discussions for cobalt metal may evolve over a longer period, market sources told Fastmarkets.While Covid-19 has hit global economies and dented consumer sentiment, it also put low-carbon economies at the forefront of government policy and expecte...Read More
Here are five Fastmarkets stories you might have missed on Monday October 26 that are worth another look.Major iron ore miners are racing to boost their output amid recovering demand and ahead of traditional mid-financial year reporting due by December, market sources told Fastmarkets this week.Uncertainty about next year's aluminium fundamentals and consumer hesitance...Read More
Domestic auto bundle and ship scrap prices in Turkey have remained stable over the past week despite rising imported scrap values, sources said on Monday October 26.The mills' buy prices for ship scrap remained steady on Monday at $280 per tonne delivered.So Fastmarkets' weekly price assessment for steel scrap, melting scrap from shipbreaking, domestic, delivered Turkey, was $280 per tonne on Mond...Read More
There was a surge in buying activity in the Chinese copper scrap market in the second half of October after the release of a long-awaited announcement that the purchase of high-purity scrap will be permitted as a recyclable copper material from next month. "Everyone has returned to the market to buy [non-ferrous scrap] since the announcement," a trader source said. With overseas copper scrap more...Read More
Fastmarkets' research team took the number one spot on the base metals predictions leaderboard for the third quarter of 2020 with a 98.83% accuracy score while ED&F Man Capital Markets' Edward Meir clinched the top spot for precious metals predictions over the period with a 93.31% accuracy rating. For steel raw materials, ABN Amro's Casper Burgering was number one with an accuracy score of 89.47%....Read More
The lithium market has grown to a stage where it can support a futures contract, especially in the context of significant price moves in recent years and forecasts of further growth, Robin Martin, head of market development at the London Metal Exchange, said during a Fastmarkets conference on Monday October 26. "In terms of size, [lithium] is now at a level where it can support an actively traded...Read More
While the initial appetite to hedge exposure to volatile lithium prices came from automakers expanding their electric vehicle (EV) fleets, an appreciation for short-term pricing and risk management tools has since filtered upstream, delegates heard during Fastmarkets' virtual Lithium Supply & Markets conference on Monday October 26. "Lithium often came up [in conversations with carmakers] because...Read More
Lithium spot prices are starting to change direction upward but it will take time for a rebound across the whole lithium complex, Fastmarkets head of battery raw materials research and base metals William Adams during a panel discussion at the Lithium Supply & Markets conference on Monday October 26. "We're starting to see a move up [for spot prices] and by the end of next year will start to see a...Read More
Hot-rolled coil prices in the United States climbed for the eighth consecutive business day while tight supply continued to bump up against rising demand.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $34.10 per hundredweight ($682 per short ton) on Monday October 26, up by 1% from $33.76 per cwt on Friday October 23 and 2.1% higher than $33.39 per cwt a week ago on...Read More