Join Fastmarkets and the London Metal Exchange on Tuesday June 29 for a webinar about European aluminium premiums ahead of the launch of the LME's new cash-settled futures contract.The LME will launch its new European duty-paid aluminium premium cash-settled contract on July 19, which is settled against Fastmarkets' benchmark aluminium P1020A premium, in-whs dp Rotterdam.The LME previously la...Read More
Hot-rolled coil prices across China's domestic market continued to move lower on Tuesday June 22, while futures prices extended their decline, sources said.DomesticEastern China (Shanghai): 5,270-5,310 yuan ($815-821) per tonne, down by 90-120 yuan per tonne.The most-traded HRC contract on the Shanghai Futures Exchange slipped in morning trade, approaching a four-week low of 5,070 yuan per tonne i...Read More
China's domestic rebar prices tumbled further on Tuesday June 22 on weakening demand caused by falling futures.DomesticEastern China (Shanghai): 4,800-4,840 yuan ($743-749) per tonne, down by 80 yuan per tonne The October rebar futures contract traded below Monday's settlement price of 4,991 yuan per tonne throughout Tuesday, which kept the spot market bearish.Buyers booked limited quantities and...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam, $/lb at 20.85-21.50 on Tuesday June 22,...Read More
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.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 20.80-21.50 on Tuesday June 22,...Read More
Miners China Moly and IX Metal have joined Glencore and Huayou's Fair Cobalt Alliance (FCA), a body whose aim is to professionalize the artisanal mining sector in the global heartland of cobalt production - the Democratic Republic of Congo (DRC)."[Because we are] a large industrial miner that maintains strict product control and custody procedures, artisanal and small-scale mining [ASM] sits outsi...Read More
A summary of China's battery raw materials exports for May 2021.In brief Exports of cobalt tetroxide fell in May amid falling downstream demand for batteries used in consumer electronics outside of China as a result of a lack of semi-conductor chips and a resurgence...Read More
A summary of China's battery raw materials imports for May 2021.In brief Imports of cobalt intermediates declined from April amid logistical disruptions while buying appetite thinned compared with the first quarter due to falling downstream cobalt salts prices.Imports of cobalt metal slightly decreased on a month-on-month basis but almost doubled year on year, with cargoes booked via short-term co...Read More
German carmaker BMW has set up a closed-loop material cycle for production tools made of tungsten, it said.Starting in June, BMW will begin collecting secondary tungsten obtained from old drill and milling bits at its plants in Germany and Austria that will be recycled and used to manufacture new industrial machinery.These BMW plants generate almost nine tonnes per year of scrap from carbide tools...Read More
Rebounds were under way in the base metals in London and Shanghai this morning, Wednesday June 23, but we will have to wait to see how the metals react to today’s manufacturing purchasing managers index (PMI) data.* To reassure the markets, United States Federal Reserve chairman Jerome Powell said: “We will not raise interest rates pre-emptively because we think employment is too high [o...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US81.46 cents following release of Canada's April Retail Sales at 8:30 AM EDT. Consensus was a drop of 4.9% versus a gain of 3.5% in March. Actual was a drop of 5.7%. Excluding auto sales consensus was an increase of 2.2% versus a gain of 4.3%...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
The price of nickel was the best performer among base metals on the London Metal Exchange on Monday June 21 on account of a softer US Dollar Index, with all prices rebounding during afternoon trading after the sharp selling in the week ended June 18.Nickel rose by the most, up by 1.7% to $17,450 per tonne at 5pm compared with its closing price on Friday of $17,154 per tonne, which was a 7.2% drop...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
The refined zinc and lead markets were in relative balance over January to April, with both metals notching small surpluses, the International Lead and Zinc Study Group (ILZSG) said on June 21.Supply exceeded demand for refined zinc by 31,000 tonnes in the first four months of 2021, while lead's surplus...Read More
Prices for low- and high-grade manganese ore in the seaborne markets still had support in the week to Friday June 18, against rising freight rates and steady portside markets.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, edged up by 1 cent per dry metric tonne unit to $4.72 per dmtu on Friday, from $4.71 per dmtu a week earlier.Despite cif China manganese ore prices also being slightly hi...Read More
World manganese ore production will increase by 7.60 million tonnes (13%) in 2021, reflecting a post-pandemic recovery in production and new mining projects mainly in Africa and Australia, according to Eva Yang, China representative at the International Manganese Institute (IMnI). Speaking at the International Ferro-alloys and Mineral Products Summit held by Ferroalloy.net on Friday June 18, Yang...Read More
Here are five Fastmarkets stories you might have missed on Monday June 21 that are worth another look.Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe. The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycl...Read More
Work is under way in Fredrikstad, Norway, to build a plant that will be key to electric vehicle (EV) transportation in Europe.The final touches are being made to Fredrikstad's Hydrovolt factory, a joint venture between aluminium producer Norsk Hydro and battery producer Northvolt that will recycle 8,000 tonnes of EV batteries per year when ramped up - making it one of Europe's top p...Read More
Lundin Mining has cut its expectation for copper produced at its Candalaria mine in Chile by 13.8%, and output may be affected for years to come, the company said on June 21.Candalaria's copper output will be 150,000-155,000 tonnes in 2021, down from a previous forecast of 172,000-182,000 tonnes, the company said. At 85,000-90,000 ounces, gold production will be down by 10.3%.Taking the high-end o...Read More