Base metals prices on the LME and the SHFE were mixed this morning, Friday October 16, but overall were holding up well despite growing concern over the spread of Covid-19 across Europe and the United States.* Despite the spread of the pandemic the markets seem to be assured that more stimulus will be forthcoming.* EU passenger car registrations climbed 3.1% in September, compared with last year,...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 points in pre-opening trade. Index futures increased slightly following release of September U.S. Retail Sales at 8:30 AM EDT. Consensus was an increase of 0.7% versus a gain of 0.6% in August. Actual was up 1.9%. Excluding auto sales, consensus was an increase of 0.4% versus a gain of 0.7% in August. Actual was an...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Sellers in the United States hoped that the premium for nickel briquettes would rise further from a floor, while European nickel premiums held firm at new lower levels and Asia was quiet after holidays in the week to Tuesday October 13. US focus switches to next year's contracts China sees minimal trading after week-long national holidays Europe market steady amid volatile LME price. Minimal spot...Read More
The three-month price of nickel on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 14, with strong producer price index figures from the United States supporting steady buying in the afternoon.Lead futures, however, struggled to close above nearby support levels.Nickel's outright price on the LME closed at $15,341 per tonne on Wednesday afternoon,...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Key data from Fastmarkets' pricing session on Wednesday October 14 for the daily alumina index.Fastmarkets' alumina index, fob Australia, was calculated at $272.83 per tonne on Wednesday, its highest since September 9. This was up by 3% week-on-week from $264.42 on October 7.Key drivers The latest deal was concluded at $274 per tonne fob Western Australia on Tuesday. The deal was for 30,000 tonnes...Read More
The prices of imported chrome ore and alloys were stable over the week ended Tuesday October 13, with only light liquidity in the market after the latest ferro-chrome tender roll-overs from China's steel mills, while there was active trading activity amid post-holiday restocking in the domestic market.The UG2 market was unchanged, however, with little business reported.Fastmarkets' chrome ore Sout...Read More
Element 25 will sell 100% of the manganese ore produced from the first stage of its Butcherbird project in the Pilbara region of Western Australia to OM Materials Pte (OMS), a wholly-owned subsidiary of OM Holdings (OMH), under a proposed offtake agreement, the company said on Monday October 12. The parties have proposed a pricing mechanism which is calculated as a discount against Fastmarkets' pu...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Tantalum oversupply will continue until at least the end of this year, John Crawley, managing director of Refractory Metals Mining, said during the Tantalum-Niobium International Study Center's virtual conference this week."The fourth quarter of the year might be hurt by [an abundance of] inventory accumulated during the third quarter of the year," Crawley said during a panel discussion on Monday...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More
Turkish steel producers have continued their deep-sea scrap imports at firm prices thanks to improving demand for long steel products in the country's export markets, sources said on Wednesday October 14.A steel mill in the Iskenderun region booked a US cargo, comprising 6,000 tonnes of HMS 1&2 (80:20) at $287 per tonne, 7,000 tonnes of shredded at $292 per tonne and 17,000 tonnes of bonus at $297...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 14. Key drivers The ferro-titanium spot price range narrowed, reflecting producers' attempts to pass on the cost of tightening scrap supplies since the start of September.Most ferro-titanium producers are struggling to source enough scrap to meet their smelting schedules for longer term delivery deals, with little alloy ava...Read More
A summary of Australia-based spodumene concentrate miner Galaxy Resources' preliminary results for the third quarter of 2020, released on Wednesday October 14.In briefGalaxy produced 30,067 dry metric tonnes (dmt) of spodumene concentrate at a grade of 5.92% Li2O at its Mount Cattlin mine in Western Australia during the...Read More
The implementation of fifth generation (5G) technology will be the primary demand driver for tantalum after the Covid-19 pandemic is resolved, panelists said during a Tantalum-Niobium International Study Centre virtual conference this week. "Tantalum is driven by connectivity and 5G implementation will be the primary demand driver going forward," Travis Ashburn, senior vice president at Kemet Elec...Read More
Hot-rolled coil prices in the United States held mostly steady day on day, with some sources indicating that prices are on an uptrend while others were split on mill availability and lead times.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $32.48 per hundredweight ($649.60 per short ton) on Wednesday October 14, nearly flat from $32.50 per cwt on Tuesday October 13...Read More
Domestic prices for hot-dipped galvanized coil (HDG) in Europe increased in the week to Wednesday October 14, supported by reduced availability of the material in the spot market, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel HDG, domestic, exw Northern Europe, was ?,?590-600 ($694-706) per tonne ex-works on October 14, up by ?,?5-10 per tonne from ?,?580-595 per tonne ex...Read More
European producers were planning to increase their official offer prices for domestic hot-rolled coil despite buyers taking a watchful stance until the price trend became clear, sources told Fastmarkets on Wednesday October 14.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?495.00 ($582.64) per tonne on Wednesday, up by ?,?1.25 per tonne from ?,?4...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 14 that are worth another look.The European Commission (EC) has initiated an expiry review of anti-dumping duties imposed on wire rod originating from China, it said on October 14.Trafigura's revenue was $171.5-billion in 2019, with group businesses in metals,...Read More