Prices and payables for cobalt hydroxide stretched to new highs last week, when Chinese refineries continued their restocking efforts in a market that remains tightly supplied for spot cargoes. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, was 78.5-80.5% of the price for cobalt standard grade, in-warehouse Rotterdam (low-end), on Friday October 23, widening upward from th...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
Portside prices for low- and high-grade manganese ore in China fell for the sixth consecutive week in the week to Friday October 23, partly as a result of traders lowering their offer prices to secure deals with domestic alloy smelters, market participants told Fastmarkets. Both prices are at their lowest levels since November 8, 2019, when the low- and high-grade ore stood at 31.70 yuan ($4.73) p...Read More
A summary of China's ores and alloys imports for September 2020.In brief China's import of ferro-chrome shrunk month on month in September, with the volumes accepted from South Africa halved compared with August when an "overwhelming" amount of material arrived following the resumption of production and export activities in the major supply state. Market expectations of healthy demand in Septembe...Read More
A summary of China's ores and alloys exports for September 2020.In brief China's ferro-silicon export volumes increased month on month with demand from Asian countries starting to recover slightly, despite the fact that September exports had significantly decreased year on year from 2019.Stock replenishment from overseas consumers contributed to the increase...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
Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates.* Major western equity index futures rebounding after Monday’s weakness* Expect increased volatility in the run-up to the US presidential electionBa...Read More
American International Group (AIG), an S&P 100 stock moved above $32.67 resuming an intermediate uptrend.Eli Lilly (LLY), an S&P 100 stock moved below $139.00 extending an intermediate downtrend.Teck Resources (TECK), a TSX 60 stock moved below US$13.05 setting an intermediate downtrend.Dollarama (DOL), a TSX 60 stock moved below $48.00 completing a double top pattern.Dow Jones Industrial...Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Liberty Steel, part of the GFG Alliance, has restarted Adhunik Steel in India six months after it acquired the plant, the company said on Thursday October 22. The company said that it had restarted the first phase of production at Adhunik Metaliks Ltd and Zion Steel following the acquisition of the steel businesses in February 2020. The acquisition of the Indian site is a strategic investment in o...Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday October 23 that are worth another look....Read More
Now is not the time for Freeport-McMoRan to be thinking about mergers and acquisitions, the mining company's chief executive officer says.According to Richard Adkerson, the company - which is just over half-way through a mega-project to transform its giant Grasberg copper-gold mine in Indonesia from an open-pit to an underground operation - is on the verge of creating huge shareholder value."I jus...Read More
Oracle (ORCL), an S&P 100 stock moved below $58.05 completing a double top pattern.Turkey iShares (TUR) moved below $19.12 extending an intermediate uptrend. Dow Jones Industrial Average moved below its 20 day moving average at28221.63 and its 50 day moving average at 28021.11.Cenovus (CVE), a TSX 60 stock moved below Cdn$4.59 extending an intermediate downtrend. Cenovus offered to acquire Hus...Read More
Liberty Steel, part of the GFG Alliance, has restarted Adhunik Steel in India six months after it acquired the plant, the company said on Thursday October 22. The company said that it had restarted the first phase of production at Adhunik Metaliks Ltd and Zion Steel following the acquisition of the steel businesses in February 2020. The acquisition of the Indian site is a strategic investment in o...Read More
Demand for rebar and billet in Egypt failed to improve in the week to Thursday, October 22, despite the authorities reducing safeguard duties on the products, sources told Fastmarkets.Steel billet and rebar prices in Egypt were unchanged as a result, they added. The duty for imported billet was cut to 13% for the cif market last week, with a $60-per-tonne minimum, compared with ...Read More