Market sources believe hot-rolled coil prices in the Northern European domestic market will remain on an upward trend into the second quarter despite reaching a new peak this week, with steelmakers widely seen as having in the upper hand in current market conditions that have shown no signs of easing. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe...Read More
Ferro-chrome prices in China ticked down this week ahead of announcements of alloy tender prices for April-delivery from the country's major stainless steel mills. Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price widened downward by 100 yuan to 8,400-8,700 yuan ($1,280-1,326) per tonne on Tuesday March 30. Despite the drop, suppliers were reluctant to cut...Read More
Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.* United States treasury 10-year yields remain upbeat, as does the dollar* China’s Caixin manufacturing purchasing managers’ index (PMI) at 50.6 showed slower growth in March, compared with 50...Read More
Editor's Note: Next Tech Talk report is released on MondayMicron (MU), a NASDAQ 100 stock gained $4.45 to $92.66 after reporting higher than consensus fiscal second quarter sales and earnings after the close yesterdayMicrosoft (MSFT), a Dow Jones Industrial Average stock gained $3.90 to $239.67 after winning a U.S. Army contract valued at $22 billion to produce AR handsets.KLA Tencor (KLAC), a NAS...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 30 that are worth another look....Read More
Tight regional supply boosted aluminium premiums in Rotterdam and the United States to multi-year highs on Tuesday March 30, while the quarterly premium in Japan settled at its highest level for six years.Rotterdam duty-unpaid highest since April 2015US Midwest premium climbs to April 2018 levelMJP premium at six-year high.European shortage drives premiums higherA lack of aluminium flowing into Eu...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 30.Please click...Read More
An overview of the chrome ore and alloy markets on Tuesday March 30 and their latest price moves.China Light spot buying and weak sentiment continued in China's domestic ferro-chrome market, with prices heard for deals concluded 100 yuan ($15.24) per tonne lower week on week. Imported charge chrome prices fell following weakness in the domestic alloy sector, with some buyers making aggressive bids...Read More
Force majeure has been declared on shipments of copper concentrate from the Oyu Tolgoi mine in Mongolia, Turquoise Hill Resources said in a notice to shareholders on Tuesday March 30.Deliveries have been halted as a result of "Covid-19 health and safety precautions related to Chinese-Mongolian border crossings," said Turquoise Hill, which owns 66% of the Oyu Tolgoi mine and is itself 50.8%...Read More
Structural bull market or flash in the pan? One copper miner isn't taking its chances.Canada's Taseko is expanding a copper hedging strategy to cover 41 million lbs (18,597 tonnes) at a price of $3.75 per lb ($8,267 per tonne), throughout the second half of 2021, it said late on March 29."With the...Read More
Teck Resources has agreed to supply China's largest zinc smelter with zinc concentrates from its Red Dog mine this year, diversifying the market for what is one of the world's biggest exporters of the metal.Hechi Nanfang, which produces 400,000 tonnes of refined zinc annually, will receive up to 30,000 tonnes of Red Dog zinc concentrates this year, three sources source with knowledge of the matter...Read More
A summary of China-headquartered Huayou Cobalt's 2020 annual report, released by the company on Tuesday March 30.In briefRevenue: 21.19 billion yuan ($3.23 billion), up by 12.38% year on yearNet profit: 1.12 billion yuan, up by 1,549.03% year on yearRevenue for battery materials sector: 7.76 billion yuan, up by 11% year on yearRevenue for non-ferrous...Read More
Mexican ferrous scrap prices were little changed in the week ended Friday March 26, with most grades remaining at high levels and market participants waiting for the next developments in the United States' market. Most market participants indicated stability in prices last week while the market digests recent price increases that particularly affected the prime grades of scrap....Read More
Turkish deep-sea scrap import prices edged up on Tuesday after firm offers from the Baltic Sea region, although many mills were looking to achieve further rebar sales in the export and domestic markets before purchasing more scrap, sources said on March 30.The most recent deep-sea transaction was done on Friday March 26, when a steel mill in the Iskenderun region booked a United States-origin carg...Read More
Nornickel has stopped the inflow of water at its Oktyabrsky mine, one of two flooded mines in its Norilsk Division, and will resume production at both operations in line with the plan announced earlier this month, the company said on Monday March 29.The Oktyabrsky and Taimyrsky mines have been closed since February 24 following an inflow of groundwater.The second stage of the remediation plan for...Read More
Apart from aluminium, base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were firmer this morning, Tuesday March 30, with broader markets also firmer having partially shook off, for now, contagion worries from last week's hedge fund troubles. US Treasury 10-year yields jump higher againWeakness in gold prices and stronger bond yields suggest market is not lookin...Read More
As global demand for electric vehicles (EVs) increases, the focus on battery technology and the challenges relating to production costs, sustainability and performance becomes more acute.Fastmarkets has identified the need for more transparency in the seaborne market for nickel sulfate, a key component in nickel, cobalt, manganese (NCM) lithium-ion batteries, which is a battery chemistry of growin...Read More
The Chinese nickel sulfate price continued its downtrend in the seven days to Friday March 26, with the weak LME nickel price reviving interest in nickel briquettes, sources told Fastmarkets.Fastmarkets' price assessment for nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China was 33,000-33,500 yuan ($5,032.5-5,108.8) per tonne on Friday March 26, down by 1,000-1,500 yuan per t...Read More
Australia-listed AVZ Minerals has signed a strategic long-term offtake partner agreement with Chinese lithium producer Yibin Tianyi Lithium Industry, the company said on Tuesday March 30.Under the offtake agreement, the Australian miner will supply Yibin Tianyi with up to 200,000 tonnes per year of 6% grade spodumene concentrates (SC6) from the Manono Lithium and Tin Project in the south of the De...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 30 that are worth another look....Read More