Tin continued its advance to new 2021 highs in morning trading on the London Metal Exchange on Friday January 29, while the rest of the complex weakened slightly from Thursday, with nickel and lead's forward prices dropping by 1%.Three-month tin reached a new year-to-date high of $23,140 per tonne during early trading, its highest intraday price since June 10, 2014, when it traded at $23,200 per t...Read More
The arrival of around a quarter of a billion dollars of zinc into London Metal Exchange warehouses this week has dented the metal's price prospects, confirming analysts' view of a well-supplied market. A total of 105,800 tonnes of zinc was delivered onto the LME system on Tuesday and Wednesday this week, all in the United States and Southeast Asian port locations, bringing total inventories on the...Read More
Copper concentrate shipments from major Chilean copper mines including Escondida and Collahuasi have been delayed for two to three weeks due to high waves along the coastline in January, Fastmarkets learned.Multiple clients in Asia confirmed to Fastmarkets they were told of the delay and that concentrate scheduled to be loaded at the beginning of January was only loaded onto vessels in the past th...Read More
Indian mills are expected to raise their domestic hot rolled coil prices in February even though international prices of the commodity are expected to weaken, sources told Fastmarkets on Friday January 29.An official from an Indian mill said that domestic prices would probably increase by another 1,000-1,500 rupees ($13-20) per tonne because demand for HRC is continuing to outstrip...Read More
Prices in the Commonwealth of Independent States export billet market continued to fall in the week to Friday January 29 on softer raw materials markets and a lack of trading activity, sources said.Fastmarkets' assessment of iron ore 62% Fe fines, cfr Qingdao fell to $158.54 per tonne on Friday, compared with $169.97 per tonne a week earlier amid weak demand and Chinese mills' plans to cut crude s...Read More
More European mills have pushed offers up seeking hot-rolled coil transaction price rises due to limited availability of the material, sources told Fastmarkets on Friday January 29. Buyers, in the meantime, questioned how sustainable these attempts would be in long-term. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?712.50 ($862.83) per tonn...Read More
Prices for cold-rolled and galvanized steel sheet in the United States extended record highs, with spot purchases gathering momentum while service centers scour the domestic market in an attempt to procure more feedstock for customers.Fastmarkets' weekly price assessment for steel cold-rolled coil, fob mill US leaped to $67 per hundredweight ($1,340 per short ton) on Thursday January 28 from $64 p...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
The price of tin on the London Metal Exchange rose to a new 2021 high on Thursday January 28, while the rest of the base-metals complex showed mixed results at the 5pm close.Zinc, notably, was holding its ground after a 2.7% decline on Wednesday, but the prices of nickel and aluminium drifted lower.Tin's continued rise on Thursday led it to a new year-to-date high of $23,075 per tonne during the d...Read More
The winners of Fastmarkets' Apex 2020 price forecast contest set out their projections for factors that will most influence base metals, precious metals and steel raw material prices in 2021, with Covid-19 vaccinations a constant. Base metals ED&F Man's Edward Meir, who took the top price for base metals predictions in 2020, sees firm base metals prices in 2021. "The reason we're not super bullish...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday January 27.Fastmarkets' Alumina index adjustment to fob Australia index, Brazil differential compared to Australian units was at a narrow discount of $0.23 per tonne on Thursday January 28 - the narrowest discount since it was trading at a premium of $2.61 per tonne in September 2020.Key driversA de...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
Cobalt sulfate prices in China hit a 26-month high on Wednesday January 27 against a backdrop of tight spot availability and strength in the upstream cobalt hydroxide market. Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China rose to 70,000-74,000 yuan per tonne ($10,812-11,430) on Wednesday, up by 2,000-4,000 yuan per tonne (4.3%) from 68,000-70,000 yuan per tonne on Janua...Read More
Here are five Fastmarkets stories you might have missed on Thursday January 28 that are worth another look.Rio Tinto has created a new executive team and organizational structure to strengthen its environmental, social and corporate governance (ESG) credentials and rebuild trust, "particularly in Australia", following the destruction...Read More
Italian stainless steel producer Acciai Speciali Terni (AST) is attempting to unilaterally and retroactively apply price increases to already-concluded supply contracts agreed with distribution companies, market sources told Fastmarkets on Thursday January 28. A distributor in Denmark that buys from AST, among other stainless steel producers, said AST had made it aware of its intention to apply a...Read More
Turkish steel producers continued to book deep-sea scrap cargoes at steady prices on Thursday January 27, after reviving their interest in imports on Wednesday following a sharp downturn in scrap values, sources told Fastmarkets.A steel mill in the Iskenderun region booked a cargo from the United States, comprising HMS 1&2 (80:20) at $416 per tonne, shredded at $421 per tonne and bonus scrap at $4...Read More
The winners of Fastmarkets' Apex 2020 price forecast contest set out their projections for factors that will most influence base metals, precious metals and steel raw material prices in 2021, with Covid-19 vaccinations a constant. Base metals ED&F Man's Edward Meir, who took the top price for base metals predictions in 2020, sees firm base metals prices in 2021. "The reason we're not super bullish...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker this morning, Thursday January 28, after market sentiment across the board has turned more cautious. Asian-Pacific equities and major western pre-market equity index futures were weaker this morningUS Dollar Index firmed on Wednesday while equities sold-offBase metals There were more fallers...Read More
A summary of Australian lithium miner Orocobre's results for the fourth quarter of 2020, released on Wednesday January 27.In brief The company's output increased by 58% quarter on quarter, the third highest output the Argentina-based Olaroz facility has achieved since operations began due to high daily production rates and further decreases in costs. Olaroz operations were temporarily halted for t...Read More
Cobalt sulfate prices in China hit a 26-month high on Wednesday January 27 against a backdrop of tight spot availability and strength in the upstream cobalt hydroxide market. Fastmarkets' price assessment for cobalt sulfate 20.5% Co basis, exw China rose to 70,000-74,000 yuan per tonne ($10,812-11,430) on Wednesday, up by 2,000-4,000 yuan per tonne (4.3%) from 68,000-70,000 yuan per tonne on Janua...Read More