Mining and metals producer Assmang has declared force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets this week.Assmang produces refined ferro-manganese at its Cato Ridge Alloys plant in the eastern province of KwaZulu-Natal and halted production last week. The force majeure declaration was made in the first week of 2021 after...Read More
After strong gains on the London Metal Exchange on Tuesday January 12, when prices closed up with gains averaging 1.8%, prices were for the most part little changed this morning, with nickel the main mover.Nickel prices have been moving higher while the market reacts to a mining ban on the island of Tumbagan in the Philippines and as supply in New Caledonia continues to be disrupted by protesters....Read More
Bausch Health (BHC), a TSX 60 stock moved above Cdn$30.52 extending an intermediate uptrend. Quarterly results beat consensus.Couche Tard (ATD.B), a TSX 60 stock moved below Cdn$40.32 on rumors that it has offered to purchase Carrefour. Canadian "gassy" stocks continue moving higher. Birchcliffe Energy moved above $2.17 extending an intermediate uptrend. Pre-opening Comments for Wednesday Ja...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
Glencore has concluded discussions with the Zambian government about the sale of a majority stake in the Mopani copper mine, state media reported on Friday January 8.An agreement will be signed this week, according to a report by the Zambian National Broadcasting Corp, citing President Edgar Lungu."Glencore confirms that it is in final-stage negotiations relating to a possible sale of Carlisa's 90...Read More
Waiting times for aluminium at Istim warehouses in Port Klang, Malaysia, fell to just 20 days at the end of December, according to the London Metal Exchange's latest queue report.This is down from 30 days at the end of November and 71 days at the end of October.There was a queue for aluminium at Istim warehouses in Port Klang every month in 2020.The queues originally built up due a series of...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
The latest data for the global manganese ore market for the week ended January 11, 2021.Read More
The seaborne prices of both low- and high-grade manganese ore rose sharply in the week ended Friday January 8 after miners successfully raised their offer prices for February shipments with strong buying appetite from the alloy sector. Fastmarkets' manganese ore index 37% Mn, cif Tianjin soared by 41 cents (10%) week on week to $4.53 per dry metric tonne unit (dmtu) on Friday from $4.12 per d...Read More
China's nickel pig iron (NPI) price rose in the week to Friday January 8, supported by gains in the stainless steel market, sources told Fastmarkets.Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,090-1,120 yuan ($168-173) per nickel unit on Friday, up by 10-20 yuan per nickel unit (1.4%) from 1,080-1,100 yuan per nickel unit a week earlier.St...Read More
Soaring freight rates and tightening availability for prompt material pushed European manganese flake prices to a three-year high in the week ended Friday January 8, with more increases expected this week, market sources have told Fastmarkets.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, jumped by 6.8% to $2,450-2,550 per tonne on Friday from th...Read More
The US ferrous scrap market has mostly settled for January, with market participants hinting that while tight No1 busheling may see continued upside in February, shredded scrap has become plentiful and has likely peaked.Detroit kicked off trading on Wednesday January 6, while activity in the Chicago market dragged into Monday January 11.Fastmarkets' assessments of the consumer buying prices f...Read More
Turkish auto bundle scrap prices have gone down slightly over the past week in line with the strengthening of the country's lira against the US dollar, market sources said on Monday January 11.Domestic prices for long steel products and, therefore, auto bundle scrap in Turkey typically decrease in line with the stronger lira because mills buy most of their raw materials in dollars and sell their f...Read More
China's regulatory reboot to again become a major steel scrap importer is likely to cause supply problems for other consumers of Japanese material, market participants have told Fastmarkets.The first deals signed by Chinese companies after rules changed on December 31 to officially allow the restart of scrap imports to China have all been for vessels of Japanese material.If this continues, China's...Read More
Base metals prices were for the most part weaker during morning trading on Monday January 11, while the dollar was firmer in line with strong US treasury yields. Asian-Pacific equities were mixed, while pre-market major western equity index futures were weakerBase metals Three-month base metals prices on the London Metal Exchange were for the most part weaker this morning, the exceptions were lead...Read More
United States-based lithium producer Albemarle Corp has submitted additional information on its lithium reserves to the Chilean Nuclear Agency (CCHEN) following a formal request on Monday January 4. In the letter, CCHEN - which licenses lithium exports for companies operating in Chile - called on Albemarle to provide further details of its lithium reserves. Albemarle operates a lithium production...Read More
The Chinese nickel sulfate market marked a strong start to 2021, with the price climbing above its previous 2020 high amid good demand and limited supply, sources told Fastmarkets. Fastmarkets assessed the price of nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 31,000-31,500 yuan ($4,786-4,864) per tonne on Friday January 8, a level last reached on October 11, 2019, up by 500-1,...Read More
Here are five Fastmarkets stories you might have missed on Monday January 11 that are worth another look.Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally.Read More
Prices for domestic steel hot-rolled coil increased slightly in Northern Europe in the week to Friday January 8, with ArcelorMittal pushing its offer prices further upward.Market sources expected that domestic prices would continue to rise through January with buyers facing continuing supply shortages.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?...Read More
Brazilian flat steel producers have applied price increases of around 15% on sales to distributors, motivated by high raw materials costs and sustained higher steel prices globally. The increase is in addition to the 10% rise in prices applied in December by most steelmakers.Fastmarkets' monthly price assessment for steel hot-rolled coil, domestic, monthly, exw Brazil was 5,080-5,10...Read More