Base metals prices on the London Metal Exchange were mixed at the 5pm close on Tuesday October 12 amid concerns over inflation, and rising energy costs and power outages in China.The three-month price of aluminium continued its upward momentum during Tuesday's trading, closing at $3,068 per tonne, up from $3,064 per tonne on Monday.The lightweight metal hit an intraday high of $3,114.50 per tonne...Read More
An overview of the chrome ore and alloy markets in Asia, Europe and the United States on Tuesday October 12 and their latest price moves.United States The high-carbon ferro-chrome market jumped significantly, catching up with large gains in overseas markets. A re-opening of the spot market allowed suppliers to successfully elevate offers in line with the global market. Given the current tigh...Read More
China's domestic rebar prices dropped on Tuesday October 12 amid weaker demand and increasingly bearish sentiment among market participants. Domestic Eastern China (Shanghai): 5,920-5,960 yuan ($918-924) per tonne, down by 20-30 yuan per tonneCost pressures resulting from elevated rebar prices - which are at historical highs - resulted in contractors in the construction sector reducing their procu...Read More
The London Metal Exchange has registered the first sustainability disclosures on its new digital credentials register, LMEpassport, it announced on Tuesday October 12.LMEpassport is a platform register that enables a voluntary market-wide sustainable metals labelling program.Metals producers Anglo American Platinum, Antofagasta plc, Boliden, Companhia Brasileira de Alumnio (CBA), Freeport-McMoran,...Read More
Power cuts remained a prominent factor in China through the third quarter of 2021 as the world's second-largest economy grappled with soaring coal prices and its own strict limits on energy consumption - put in place to help the country achieve carbon neutrality by 2060.An increasing number of factories - especially those in energy intensive industries - have suffered from curbs to their power usa...Read More
Tsingshan Group has set its tender price for October-delivery high-carbon ferro-chrome at 9,995 yuan ($1,550) per tonne, the Chinese stainless steelmaker said on Monday October 11.The tender price was unchanged from what the eastern Chinese mill - the country's largest ferro-chrome buyer - had sought for September-delivery material, suggesting that it chose not to acknowledge a recent price surge...Read More
Spot prices for hot-rolled coil in China fell sharply on Tuesday October 12 after futures prices tumbled on potential increases in supply.Domestic Eastern China (Shanghai): 5,750-5,760 yuan ($891-892) per tonne, down by 110-130 yuan per tonne The most-traded HRC contract on the Shanghai Futures Exchange shed more than 200 yuan per tonne, or 3.58%, on Tuesday, marking the biggest one-day loss sin...Read More
Here are five Fastmarkets stories you might have missed on Monday October 11 that are worth another look.Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group...Read More
Base metals prices on the London Metal Exchange were mostly trading higher at the close of business on Monday October 11, with LME Week beginning in London.Aluminium prices were the star performer, rising by 3.3% to more than $3,000 per tonne. The three-month price closed at $3,064 per tonne, up from $2,966 per tonne at the close on Friday.The price reached $3,072.50 per tonne on Monday - a 13-yea...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
Export prices for Chinese steel cold-rolled coil and hot-dipped galvanized coil have moved slightly higher from those seen in late September, while trading liquidity remained quiet.Demand for Chinese CRC and HDG has been poor in the week to Tuesday October 12, with buyers shifting their attention to cheaper resources from other origins and overall demand weak due to Covid-19 pandemic situations ac...Read More
Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group (ERG) said.The issue at the heart of industrially mined cobalt supply is that it is almost exclusively a by-product of copper and nickel mining, Benedikt Sobo...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.Fastenal slipped $0.43 to $51.80 after reporting less than consensus third quarter revenues. Charter Communications dropped $5.11 to $690.12 after Deutsche Bank downgraded the stock from Buy to Hold. Target was reduced from $825 to $725.Netflix added $4.15 to 631.20 after Truist raised it...Read More
Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group (ERG) said.The issue at the heart of industrially mined cobalt supply is that it is almost exclusively a by-product of copper and nickel mining, Benedikt Sobo...Read More
Base metals prices on the London Metal Exchange were mostly trading higher at the close of business on Monday October 11, with LME Week beginning in London.Aluminium prices were the star performer, rising by 3.3% to more than $3,000 per tonne. The three-month price closed at $3,064 per tonne, up from $2,966 per tonne at the close on Friday.The price reached $3,072.50 per tonne on Monday - a 13-yea...Read More
A more cautious approach towards copper - due to factors including fears over energy, logistics and inflation - has failed to deter demand for the metal, according to the chairman of Chilean state-owned miner Codelco.This includes in China, the world's largest consumer of copper and where Evergrande, the country's second-largest real estate company, has been struggling to repay over $300 billion o...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More