Iron ore prices have bucked the upward trend on Tuesday January 19 amid weakened sentiment in the market, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $171.33 per tonne, down $2.74 per tonne62% Fe low-alumina fines, cfr Qingdao: $171.60 per tonne, down $3.06 per tonne58% Fe fines high-grade premium, cfr Qingdao: $159.69 per tonne, down $1.20 per tonne65% Fe Braz...Read More
China's hot-rolled coil prices tumbled on Tuesday January 19 after data showing the country's steel output hitting a new high in 2020 triggered speculation that the government might restrict exports.DomesticEastern China (Shanghai): 4,480-4,520 yuan ($690-697) per tonne, down 50-70 yuan per tonneSeveral Shanghai-based traders said they had to lower their offers throughout the whole day amid thin t...Read More
Copper was the only base metal on the London Metal Exchange to register a gain during morning trading on Tuesday January 19, while aluminium's forward price continued to drop and tin recorded the biggest decline, with the complex still capped by a firm dollar.Copper's three-month price was up a slight 0.2% as at 9am on Tuesday.The red metal price has been on a steady path of recovery since a low o...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...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....Read More
Base metals prices on the London Metal Exchange were mixed this morning, Tuesday January 19, but aluminium prices have followed recent weakness in zinc, breaking support levels in the process. The rebound in the dollar in recent weeks seems to be acting as a headwindBase metals Three-month base metals prices on the LME were mixed this morning, with aluminium, nickel and lead weaker and down by an...Read More
After an extended consultation period, Fastmarkets has decided to amend its discount assessment for No2 copper scrap imported into China so that it is aligned with the country's new import policy for such material.Following new policy implemented in China on January 1, 2021, all copper scrap must now meet certain criteria to be reclassified as "recyclable copper material" before it is allowed to e...Read More
Chinese copper producer Jiangxi Copper and Canada-based First Quantum have not agreed to a contractual supply of intermediate copper products for 2021, Fastmarkets has learned. Despite discussions extending into mid-January, Jiangxi Copper - a major importer of unrefined copper - and First Quantum - operator of Zambian copper-gold project Kansanshi - were not able to agree to a deal for contracted...Read More
Intuit (INTU), a NASDAQ 100 stock moved above $387.32 to an all-time high extending an intermediate uptrend. Open Text (OTEX), a TSX 60 stock moved above US$47.13 to an all-time high extending an intermediate uptrend. Netflix (NFLX), a NASDAQ 100 stock moved above $575.37 to an all-time high extending an intermediate uptrend.Alphabet (GOOGL), an S&P 100 stock moved above $1,843.83 to an all-ti...Read More
The London Metal Exchange aluminium forward price was dented by almost 1% by a sizeable delivery of material to registered warehouses, while tin recorded the biggest increase at the 5pm close on Monday January 18. Tin's three-month price was up 0.6% on Monday at 5pm to $21,245 per tonne. The metal has rebounded from this year's low of $20,525 per tonne on January 11, and is edging closer to the Ja...Read More
Mining at Vedanta Zinc International's South African zinc mine in Gamsberg has resumed after a two-month shutdown following a landfall at the project in November. Mining activity was stopped at Gamsberg on November 17 following the incident, which left 10 workers trapped in the landfall and one miner still missing. Vedanta, which acquired the Gamsberg mine in 2011 from Anglo American and operates...Read More
Holman Head retired from his role as president and chief operating officer of O'Neal Industries (ONI) at the end of September. He recalls the substantial growth of the business during his 40-year career with the company and discusses likely future trends with Fastmarkets' Bette Kovach.In reflecting on his 40-year career with ONI of Birmingham, Alabama, Head thought about all the changes that metal...Read More
Treatment charges for spot market zinc concentrates were flat from one assessment to the next at low levels in the first half of January, with smelters and traders weighing seemingly limited short-term availability against expectations of a mined abundance later this year.Vedanta restarts mining at Gamsberg after fatal collapseTrevali to bring back Caribou after high price hedgesMiners offering bi...Read More
Mining at Vedanta Zinc International's South African zinc mine in Gamsberg has resumed after a two-month shutdown following a landfall at the project in November. Mining activity was stopped at Gamsberg on November 17 following the incident, which left 10 workers trapped in the landfall and one miner still missing. Vedanta, which acquired the Gamsberg mine in 2011 from Anglo American and operates...Read More
The latest data for the global manganese ore market for the week ended January 18, 2021.Read More
Here are five Fastmarkets stories you might have missed on Monday January 18 that are worth another look.The prices of ferro-chrome imported into both Japan and South Korea have surprised the market by jumping to two-year highs because of a recent surge in spot prices in China, the largest importer of the...Read More
The seaborne prices of both low and high-grade manganese ore rose but at a slower rate in the week to Friday January 15 following weakness emerging in the portside market, sources said.Fastmarkets' manganese ore index 37% Mn, cif Tianjin climbed up by 5 cents or 1.1% week on week to $4.58 per dry metric tonne unit (dmtu) on Friday from $4.53 per dmtu the previous week.Fastmarkets' manganese ore in...Read More
Turkish domestic prices for auto bundle steel scrap have gone down slightly over the past week, following the downturn in the deep-sea scrap import values, sources said on Monday January 18.Deep-sea scrap import prices went down sharply in a fresh Baltic Sea cargo deal at the end of the previous week.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), North Europe origin, cfr Turkey, wa...Read More
Domestic ferrous scrap prices in Germany increased significantly in the month to Friday January 15, following and supported by the trend in the international market, sources told Fastmarkets. Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany was ?,?370-405 ($445-489) per tonne on January 15, up by ?,?85-95 from ?,?285-310 per ton...Read More
Italian domestic steel scrap prices surged in the month to Friday January 15, supported by the global uptrend in December and the first half of January, sources told Fastmarkets. Fastmarkets assessed the monthly price assessment for steel scrap, No E3 (old thick scrap), domestic, delivered mill, Italy at ?,?325-360 ($392-435) per tonne on Friday, up by ?,?65-95 (or 30.5%) month on month from...Read More