The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Read More
As the director of sales, global supply chain, and trade compliance at Indium Corp, as well as chair of the Minor Metals Trade Association (MMTA), Donna Vareha-Walsh has a global view of markets for minor metals. She outlined big plans for the MMTA and described her path to success with Fastmarkets' Cristina Belda.Knowing when to take a risk can be key to making progress in life. Donna Vareha-Wals...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
A sharp rise in electricity prices has forced Spanish stainless long steel producer Sidenor Aceros Especiales to suspend production, Fastmarkets has heard.The company will be paying ?,?227 ($263) per MWh in October, but for November and December the power prices have been forecast to surge upward to ?,?284 per MWh. This would be sharply up from last year's electricity price of ?,?60 per MWh. Such...Read More
The two biggest ferro-alloys producers in Ukraine - Nikopol and Zaporozhye - are almost halving production of manganese alloys in October due to surging electricity prices, a source told Fastmarkets on Monday October 11.The Privat Group, which owns the facilities is shutting five of its 13 furnaces at Nikopol, cutting its monthly manganese alloys output to 35,000 tonnes, from 65,000 tonnes in Sept...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
The global restructuring of the GFG Alliance group has provided cash funds for Liberty Steel's UK operations to restart its electric-arc furnace in the English town of Rotherham, and to prepare the Speciality Steel section for sale, the company said in a press release on Sunday October 10.After the creation of Liberty Steel Group's Restructuring and Transformation Committee (RTC) in May 2021, prog...Read More
Aurubis' increased annual premium for 2022 was partly a consequence of having kept the copper benchmark stable in 2021, chief executive officer Roland Harings told Fastmarkets during LME Week on Monday October 11.He also noted that the high energy prices that Europe was experiencing were a "big concern for the economy." Europe's biggest copper producer increased its premium offer to consumers for...Read More
Aurubis, Europe's biggest copper producer, is considering plans to set up a new copper scrap processing facility in North America to tap into the growing availability of raw materials outside China and Malaysia, the company's chief executive told Fastmarkets.Aurubis, which acquired recycling firm Metallo in May last year, is now investigating its options in expanding its scrap-processing capacity...Read More
China will allow its floating electricity prices to rise further from October 15 to stabilize supply amid a shortage in the country, according to a notice released by the country's National Development & Reform Commission (NDRC), its top economic planner, on Tuesday October 12.Electricity supplied to the national grid is priced using a formula that comprises a base price and a floating price, acco...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
China has started sourcing for wire rod and rebar imports amid electricity crimps caused by a shortage of thermal coal and ensuing high power costs, market sources told Fastmarkets."Rerollers in China have been running at low rates because of a shortage of electricity, so China needs finished products such as rebar and wire rod instead," a trader in Singapore told Fastmarkets on Friday October 8."...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures were virtually unchanged following release of the September Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.3% versus a gain of 0.3% in August. Actual was an increase of 0.4%. Excluding food and energy, consensus was an increase of 0.2% versus a gain of 0...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
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
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