Key data from Fastmarkets' pricing session in London on Wednesday April 28.Key drivers: Market continues its downtrend amid lower cif prices from China that has led some profit-takers in Europe to offer below $10,000 per tonne for both grades. Some producers also achieved higher prices, closer to $10,400 per tonne, however. The market picture continues to be mixed with traders taking different pos...Read More
A summary of Glencore's production results for the first quarter of 2021, as released on Thursday April 29.In brief Copper production was up by 3% year on year in the first quarter of 2021 because of productivity improvements and mine plan sequencing at Glencore's South American operations including Collahuasi, Antamina and Antapaccay.Lower grades at Kazzinc's Maleevsky mine and mine sequencing at...Read More
The approaching rainy season in southern China usually signals the start of a downtrend in the Chinese silicon price because of more availability of hydroelectricity to power operations, yet the price is unlikely to reach last year's low, according to market participants.In China, the main 553 silicon production hubs are in Sichuan and Yunnan provinces. It is traditional for refineries in Sichuan...Read More
Export prices for Chinese stainless steel softened in the past week, but exporters plan to raise their offers after China's Ministry of Finance said the 13% export tax rebate for such products would be removed from May 1.According to a notice released by the ministry late on Wednesday April 28, stainless flat steel products classified under the following Harmonized System codes will no longer be e...Read More
The markets for high- and low-carbon ferro-chrome in Europe softened in the week ended Tuesday April 27 following weakening in the markets in Asia, particularly China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $1.87-2.36 per lb Cr on April 27, a fall of 4-26 cents per lb Cr (6.6%) from $2.13-2.40 per lb Cr on March 30.There was a big fall at t...Read More
An eagerness to maintain relationships by doing deals with counterparties has left some manganese ore buyers and suppliers saddled with unsustainable financing costs, market participants told Fastmarkets this week.Market participants who bought high-priced material in February and March are still financing high-priced material that has since devalued and some have reached the end of their toleranc...Read More
Mining major Vale is again considering spinning off its base metals business after reporting strong first-quarter earnings on soaring metals prices.Speaking at an earnings conference call on Tuesday April 27, Vale chief executive officer, Eduardo de Salles Bartolomeo said the recent sale of Vale New Caledonia was one factor prompting Vale to again consider spinning off its base metals assets."One...Read More
Seagen (SGEN), a NASDAQ 100 stock moved below $134.51 extending an intermediate downtrend.Fiserv (FISV), a NASDAQ 100 stock moved below $118.54 completing a double top pattern.Pre-opening Comments for Friday April 30thU.S. equity index futures were lower this morning. S&P 500 futures were down 23 points in pre-opening trade.Equity index futures moved slightly lower following release of U.S. Ma...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 28 that are worth another look.Latin American steelmaker Ternium plans to focus mainly on supplying its own slab needs in Mexico and selling any excess to the domestic market via its slab mill in Brazil, chief executive officer M??ximo Vedoya said on...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 28. Please click...Read More
London Metal Exchange tin's three-month price rose to its highest since August 2011 during trading and was up by 5% at Wednesday's close on April 28 following news from one of the market's main suppliers while nickel made substantial gains on its fourth consecutive day on the rise. LME tin's price reached $28,595 per tonne on Wednesday on news that the world's third largest tin producer, Malaysian...Read More
The markets for high- and low-carbon ferro-chrome in Europe softened in the week ended Tuesday April 27 following weakening in the markets in Asia, particularly China.Fastmarkets' price assessment for ferro-chrome, 0.10% C, average 65-70% Cr, delivered Europe, was $1.87-2.36 per lb Cr on April 27, a fall of 4-26 cents per lb Cr (6.6%) from $2.13-2.40 per lb Cr on March 30.There was a big fall at t...Read More
Thawing permafrost linked to global warming is continuing to affect Teck Resources' Red Dog zinc mine in Alaska, with the company expecting its second-quarter sales of zinc in concentrate to be lower as a result, the company said.The Vancouver, Canada-based company said the thawing is affecting the mine's ability to discharge treated water, which is leading water levels at its tailings facility to...Read More
One of China's major tungsten product producers, Jiangxi Tungsten Group, has suspended operations at its only ferro-tungsten plant ahead of the Labor Day holiday on May 1-5, a source at the company told Fastmarkets on Wednesday April 28.The facility produces around 3,000-3,500 tonnes of ferro-tungsten per year and accounts for about 80% of China's ferro-tungsten produced from tungsten concentrate....Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday April 28.Key drivers The ferro-titanium market is stabilizing after losses in the week prior amid renewed consumer demand while a steelmaker in Asia looks to settle a tender for several hundred tonnes of alloy, trade sources said. A persistent acute shortage of titanium scrap turnings underpins both scrap and...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday April 28.Key drivers The ferro-titanium market is stabilizing after losses in the week prior amid renewed consumer demand while a steelmaker in Asia looks to settle a tender for several hundred tonnes of alloy, trade sources said. A persistent acute shortage of titanium scrap turnings underpins both scrap and...Read More
Turkish steel producers continued their deep-sea scrap purchases for June shipments on Wednesday April 28, with prices edging ever higher, market participants told Fastmarkets.A steel mill in northern Turkey booked 22,000 tonnes of HMS 1&2 (80:20) from the Baltic Sea at $432 per tonne cfr.A steel producer in the Iskenderun region booked a second Baltic sea cargo of 17,000 tonne of HMS 1&2 (80:20)...Read More
Shanghai copper premiums dropped further in the week to Tuesday April 27 to their lowest since September 2020, while premiums widened upward in both Southeast Asia and the United States. Chinese smelters are starting to export copper cathodes because the LME price is outperforming that of the SHFE. Copper price rally sees best grade scrap "sold above its intrinsic value" to China, while spot...Read More
With the exception of the June nickel contract, base metals prices on the Shanghai Futures Exchange were weaker this morning, Wednesday April 28. This after strong gains in recent weeks and likely reflects some caution ahead of the United States Federal Open Market Committee (FOMC) meeting and US President Joe Biden's address to Congress. US 10-year treasury yields climb......US Dollar Index's fal...Read More