Key data from Fastmarkets' pricing session in Europe on Wednesday February 19.Key drivers The price range for ferro-titanium has not changed over the week to February 19, steady for two weeks despite low-key trading. No deals were reported in either alloys or titanium scrap. The markets were probably static due to the expected settlement of tenders issued by consumers for feedstock on a longer ter...Read More
An overview of the minor metals markets and the reasons behind the latest price moves.Read More
The cobalt sulfate price in China has continued higher because of spot tight availability while refineries that suspended operations during the Chinese New Year holiday (January 24-February 2) have gradually resumed operations. Fastmarkets' price assessment of cobalt sulfate 20.5% Co basis, exw China was 57,000-58,000 yuan ($8,145-8,288) per tonne on Wednesday February 19, up by 0.9% fro...Read More
Eurasian Resources Group (ERG) is considering the construction of a plant to produce lithium-ion battery precursor materials, the company said today. The plant would be supplied with cobalt hydroxide produced at ERG's Metalkol Roan Tailings & Reclamation (RTR) project in the Democratic Republic of Congo (DRC). The intention is to produce nickel-cobalt-manganese (NCM) precursor materials that are u...Read More
After the broad-based dip on Tuesday February 18 that was partially triggered by Apple's sales warning, markets have recovered on Wednesday with equity indices in Asia stronger, as are pre-market western equity indices.Base metals prices on the London Metal Exchange were up across the board this morning, while those on the Shanghai Futures Exchange were mixed. Spot gold prices are holding on to Tu...Read More
Fastmarkets MB today launches its Japan export ferrous scrap price assessments for H2, shredded, Shindachi and plate and structural (P&S) scrap grades. After undertaking an extensive consultation period that began on January 7, which was then extended by one week on February 12, Fastmarkets has launched price assessments for the following ferrous scrap prices:Steel scrap H2 export, fob main port J...Read More
Equity markets remain buoyant in Asia, but pre-market western equity indices have started to weaken, while metals are mixed this morning, Thursday February 20.It seems as though equities are focused on how well the novel coronavirus (2019-nCoV) is being contained, while the metals are taking a more cautious stance as they wait for the market to assess the impact on supply and demand. Indeed, given...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening comments. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the February Philly Fed Index was a drop to 12.0 from 17.0 in January. Actual was an increase to 39.7. Consensus for Weekly Jobless Claims was an increase to 210,000 from revised 20...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 18 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to February 18 amid a slowdown in domestic trading while downstream sectors gradually return to work.Increasing aluminium inventories pressured China's aluminium price amid, generally, uninterrupted...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 18.Click on...Read More
London Metal Exchange three-month base metals prices, with the exception of lead, traded down at the close on Tuesday February 18, with any residual optimism capped by negative movements in global equities markets and restrictions in Chinese markets due to the novel coronavirus (2019-nCoV) outbreak.LME nickel futures were the worst hit, trading down 2.2% to close at $12,815 per tonne on the previo...Read More
Indonesia will reduce its nickel ore production by 52% year on year to 25 million wet metric tonnes (wmt) in 2020, according to the Indonesian Nickel Mining Association, while introducing four new domestic smelters to produce ferro-nickel and nickel pig iron (NPI) ahead of the domestic mineral ore export ban this year.Indonesian authorities expect four new smelters to come into production in 2020...Read More
Challenging conditions will continue in the South African ferro-chrome market and Chinese production will continue to expand, Glencore said on Tuesday February 18.The trader-miner announced on February 4 a 9% drop in ferro-chrome output for the full year of 2019 to 1.44 million tonnes, due to maintenance taken during periods of high costs and low prices.Deteriorating ferro-chrome market conditions...Read More
Here are five Fastmarkets stories you might have missed on Tuesday February 18 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil fell during the week to February 18 amid a slowdown in domestic trading while downstream sectors gradually return to work.Increasing aluminium inventories pressured China's aluminium price amid, generally, uninterrupted...Read More
Glencore will prioritize the production ramp-up of its Katanga mining asset in the Democratic Republic of Congo (DRC) in 2020, the trader-miner said on Tuesday February 18 during its full-year results announcement.The company's production guidance at Katanga is 270,000 tonnes of copper and 29,000 tonnes of cobalt contained in concentrates and hydroxides, and it expects the successful commissioning...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday February 14, with most buyers refraining from making any changes after several price cuts in the preceding two weeks.In the country's northern Monterrey region, prices remained stable for four grades, while the price of HMS 1-grade scrap decreased. In the central Baj?-o region, three grades had lower prices, with one remaini...Read More
Turkish steel producers made more bookings of deep-sea scrap for March shipment, with prices strengthening further on firm demand, sources told Fastmarkets on Tuesday February 18.A steel mill in the Iskenderun region booked a US cargo comprising 20,000 tonnes of HMS 1&2 (90:10) at $282.50 per tonne, 5,000 tonnes of shredded at $285 per tonne and 5,000 tonnes of bonus at $290 per tonne cfr.This com...Read More
Peking Founder, owner of Chinese trader Founder Commodities, has been ordered to restructure just shortly before its bond due date this coming Friday, February 21.The conglomerate said on Tuesday February 18 that one of its creditors, Bank of Beijing, had filed a request to the Beijing No1 Intermediate People's Court for an asset restructure.The bank cited in its application the inability of Pekin...Read More
Broader markets, mainly equity indices, have been fairly complacent about the potential negative economic impacts of the coronavirus (2019-nCov). But this morning, Tuesday February 18, that may be changing with Asian equities down across the board as more companies and countries get jittery.Apple warns it will miss its sales target, South Korea warns it is in an emergency situation and calls for "...Read More
Glencore will prioritize the production ramp-up of its Katanga mining asset in the Democratic Republic of Congo (DRC) in 2020, the trader-miner said on Tuesday February 18 during its full-year results announcement.The company's production guidance at Katanga is 270,000 tonnes of copper and 29,000 tonnes of cobalt contained in concentrates and hydroxides, and it expects the successful commissioning...Read More