All metals except for zinc and aluminium fell from their recent psychological levels on the morning of Friday May 21, with selling on the London Metal Exchange still present while macroeconomic headwinds continue to affect the complex.Copper's three-month price was down to $9,970 per tonne on Friday at 9am from Thursday's close at $10,048 per tonne, which had been a slight $40 rebound on the previ...Read More
A significant rise in the LME lead price on Thursday May 20, was the outlier in the base metals complex, with its peers having a mixed day following Wednesday's selling session.Lead's three-month price was up by 1.95% at the close on Thursday to $2,217 per tonne, from $2,174.50 per tonne at 5pm on Wednesday, which was the biggest rise on the day and in stark contrast with the rest of the base meta...Read More
The Chilean Copper Commission, Cochilco, raised its average price forecast for this year to $4.30 per lb on May 19, given an expected deficit of refined copper for the 2021-2022 period, it said.Cochilco revised the price up from a prediction of $3.30 per lb in January 2021, with its executive vice president Marco Riveros citing the global deficit together with reduced inventories in metal exchange...Read More
Seaborne iron ore prices fell on Thursday May 20 amid falling steel prices and overall weakened demand, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $211.85 per tonne, down $4.31 per tonne 62% Fe low-alumina fines, cfr Qingdao: $214.07 per tonne, down $4.72 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $180.81 per tonne, down $4.90 per tonne 65% Fe Brazil-orig...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 hydroxide p...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...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,...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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
Prices for Chinese stainless cold-rolled coil weakened over the past week on selling pressure and a falling nickel market.The three-month nickel contract on the London Metal Exchange ended the official trading session on Wednesday May 19 at $17,702 per tonne, down by $240 per tonne from $17,942 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 16,500...Read More
Russia's Ministry of Industry and Trade is proposing to double the export duty on ferrous scrap to ?,?90 ($109.82) per tonne in a bid to halt export growth and stabilize domestic prices of the raw material and steel products.The previously imposed rate of ?,?45 per tonne has not been enough to secure sufficient domestic supply of scrap and prevent excessive exports, the ministry said.The exis...Read More
Prices for steel scrap imported into China inched up on Friday May 21 amid an increase in activity in finished steel products markets compared with earlier this week.Fastmarkets' daily price assessment for steel scrap, heavy recycled steel materials, cfr China, which takes into account prices at ports in eastern China, was $520-530 per tonne on Friday, up by $10-20 from $500-520 per tonne a day ea...Read More
Key data from Fastmarkets' pricing sessions in Europe, India, the United States and China on Friday May 21. Europe The manganese alloys markets jumped in line with inter-merchant demand ahead of expected renewed activity from steel mills in June for third-quarter delivery settlements. This prompted more buying interest for short covering as it soon became clear there was a shortage of...Read More
Battery-grade lithium carbonate and hydroxide prices in China diverged over the week ended Thursday May 20, with the latter underpinned by persistent tight availability and robust demand in Asia.The lithium hydroxide price exw China edged higher on tight supply and robust buying appetite, while the lithium carbonate price softened. Seaborne lithium prices held steady amid supply tightness. Europe...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 20 that are worth another look.The iron ore market price has broken several records in 2021, with sky high prices for various iron-ore brands emerging even before the half-year mark - such as the iron ore 62% Fe index surpassing $200 per...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 20 that are worth another look.The iron ore market price has broken several records in 2021, with sky high prices for various iron-ore brands emerging even before the half-year mark - such as the iron ore 62% Fe index surpassing $200 per...Read More
A significant rise in the LME lead price on Thursday May 20, was the outlier in the base metals complex, with its peers having a mixed day following Wednesday's selling session.Lead's three-month price was up by 1.95% at the close on Thursday to $2,217 per tonne, from $2,174.50 per tonne at 5pm on Wednesday, which was the biggest rise on the day and in stark contrast with the rest of the base meta...Read More
Major metals and mining companies Glencore, Eurasian Resources Group (ERG) and China Molybdenum Company (CMOC) are collaborating with battery material supplier Umicore to pilot ReISource, a blockchain technology solution to trace responsibly-produced cobalt from the mine to the electric vehicle (EV).The companies said that a global pioneer of EVs and one of the world's leading battery makers are a...Read More
Aluminium producer Rusal's proposed move to split into two different businesses will not impact customer negotiations for 2022 contracts, but the effects are likely to be felt gradually from 2023 onward, company director of sales and marketing Steve Hodgson told Fastmarkets. The company has notified its customers about the demerger, announced on Wednesday May 19, on a broader level but it has not...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US83.06 cents following release of Canadian March Retail Sales at 8:30 AM EDT. Consensus was an increase of 3.7% versus a gain of 1.2% in February. Actual was an increase of 3.6%.Home Depot added $1.75 to $317.65 after announcing a $20 billi...Read More