The price of cobalt metal in China's domestic market widened downward in the first half of this week, pressured by lackluster spot demand while consumers opted for cheap imported briquette and off-grade cathode.Fastmarkets' price assessment for cobalt 99.87% Co min, ex-works China was 265,000-275,000 yuan ($39,807-41,310) per tonne on Wednesday October 21, widening downward by 5,000 yuan from 270,...Read More
The European spot ferro-silicon market, which had been recovering in August and September after falling around a quarter in price since February, looks set to extend its recent steady trend in the near term supported by relatively low availability, trade sources told Fastmarkets. Demand from steelmakers has recovered since the seasonal summer slowdown, with consumers showing buying interest initia...Read More
Fastmarkets has today amended its price assessments for ferro-vanadium and vanadium pentoxide, both in the fob China market.After a consultation period that began on September 22, Fastmarkets has amended the fallback measures to its two Chinese vanadium fob price assessments amid a significant drop in spot liquidity in China's vanadium export market. In the absence of spot trades either...Read More
Fastmarkets today launches two weekly Chinese domestic price assessments for vanadium nitrogen and vanadium pentoxide (V2O5), expanding its current price coverage of the vanadium market.Following a month-long consultation, Fastmarkets has launched two new price assessments, namely vanadium nitrogen, basis 77%V, 16% N, ex-works China and vanadium pentoxide 98% V2O5 min, ex-works China, to complemen...Read More
Intel (INTC), a Dow Jones Industrial Average stock moved below intermediate support at $46.65 following release of a disappointing third quarter report. Pre-opening Comments for Friday October 23rdU.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.Intel dropped $5.33 to $48.57 after reporting lower than consensus revenues by its Data...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
London copper futures broke above $7,000 per tonne for the first time since early 2018 on Wednesday October 21, with the wire-making metal's green credentials being touted as bullish for future demand at the virtual LME Week forum.The London Metal Exchange's three-month copper contract traded at a high of $7,027 per tonne in afternoon trading on Wednesday October 21, its highest level since J...Read More
The arrival of lower-priced cargoes and weakening downstream demand weighed on the market for UG2 chrome ore in China in the week ended Tuesday October 20, although liquidity was light.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, fell by $4 per tonne (-2.9%) to $135 per tonne on Tuesday, from $139 per tonne a week earlier."More people are looking to sell than...Read More
A summary of Antofagasta's production results for the third quarter of 2020.Chilean copper miner Antofagasta's copper production has fallen by 7.3% overall this year, but the miner said it will be targeting record output in 2021, even if pandemic restrictions remain in play.In brief: Antofagasta group copper production dropped in the third quarter t o 169,000 tonnes, down 4.6% compared with the se...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
Turkish steel mills continued their silence in the deep-sea scrap market for a third day this week, with participants now split on the direction prices will take, sources said on Wednesday October 21.After a third day without any new bookings, sources began to speculate on the direction prices might go.Some told Fastmarkets they were expecting prices to move up, despite the mil...Read More
Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21. Some strike action in copper in Chile has added fuel to copper's rally High expectations for a further stimulus ahead of the US presidential election has boosted...Read More
Lithium is a key priority for Chile and will be exploited in an increasingly sustainable way to meet growing demand from the electric vehicle (EV) sector, according to the country's mining minister, Baldo Prokurica."Global demand for lithium is expected to reach almost 1.8 million tonnes [per year] of lithium carbonate equivalent [LCE] by 2030," Prokurica said during the annual mining conference o...Read More
Trafigura is preparing to table an offer for Brazilian miner Vale's embattled nickel and cobalt operations (VNC) in the French territory of New Caledonia in the South Pacific, sources told Fastmarkets on Tuesday October 20.Fastmarkets understands that the Geneva, Switzerland-headquartered trading house is part of a consortium with four French companies.A source said that current negotiations...Read More
Hot-rolled coil prices in the United States have remained steady above $33.50 per hundredweight ($670 per short ton); meanwhile, market activity has slowed, with buyers waiting to purchase more material amid expected additional increases and rising offer prices.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated $33.57 per cwt ($671.40 per ton) on Wednesday October...Read More
Low demand for heavy steel plate in Europe did not allow steelmakers to achieve their targeted price increases and threatened instead to drag prices downward, sources told Fastmarkets on Wednesday October 21.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged at ?,?460-470 ($543-555) per tonne on October 21.The assessment reflected achievable p...Read More
Domestic prices for steel cold-rolled coil in Europe were fairly stable in the week to Wednesday October 21 with buyers continuing to monitor the market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel CRC, domestic, exw Northern Europe, was ?,?570-590 ($673-696) per tonne on October 21, compared with ?,?570-580 per tonne a week earlier.The assessment reflected "workable" p...Read More
Wire rod prices in the United States have inched slightly higher month on month due to increasing demand while imported wire rod prices again remained flat.Fastmarkets' monthly price assessment for steel wire rod (low carbon) industrial quality, fob mill US rose by 0.8% to $31.25-32.25 per hundredweight ($625-645 per short ton) on Tuesday October 20 from $31-32 per cwt previously.Fastmarkets' pric...Read More