China's domestic rebar prices stopped rising on Tuesday January 5 on expectations of a drop in demand. DomesticEastern China (Shanghai): 4,510-4,530 yuan ($697-700) per tonne, unchangedEnd-user demand for rebar is decreasing gradually due to falling temperatures, which halted the upward trend in the spot market, though futures edged up during the day. Restocking demand was absent from the market,...Read More
Strong gains were seen across the base metals on the London Metal Exchange at the start of the week and most of the metals in London and all the metals on the Shanghai Futures Exchange were up again this morning, Tuesday January 5. Control of US Senate, with the run-off elections in Georgia, could be market-moving......two democratic wins would strengthen President-elect Joe Biden's hand and that...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...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.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
China's finance ministry has reduced the subsidies for electric vehicles (EVs) for 2021 by 20%, a move most market participants say they had expected.The Chinese government body announced the the new EV subsidy policy for 2021 on December 31, 2020, which included a 20% reduction year on year as planned. Under the new policy for 2021, the subsidy for pure electric vehicles (PEVs) with a driving ran...Read More
Chinese battery materials producer GEM has signed a memorandum of understanding (MoU) with partners of its Indonesian joint venture to double its stake in the project, the company said on Monday January 4.The joint venture, QMB New Energy Materials, was established in January 2019 following investment by Tsingshan Group, GEM, Brunp Recycling, Indonesia Morowali Industrial Park (IMIP) and Hanw...Read More
Markets seem to be discounting a Democratic win in the Georgia Senate run-off this morning, Wednesday January 6, and that could be bullish for commodities because a Democratic-controlled US Congress could push through larger fiscal stimulus packages.* A Democratic-controlled Congress could, however, cause some headwind for some sectors of the equity markets, although those involved in the rollout...Read More
NXP Semiconductors (NXPI), a NASDAQ 100 stock moved above $166.87 to an all-time high extending an intermediate uptrend.NetEase (NTES), a NASDAQ 100 stock moved above $103.30 to an all-time high extending an intermediate uptrend.20 year Treasury Bond iShares (TLT) moved below $154.31 extending an intermediate downtrend.U.S. REIT iShares (IYR) moved below $154.31 completing a double top pattern. Re...Read More
The London Metal Exchange three-month nickel price had the biggest rise of 4.8% and tin crossed the $21,000 per tonne mark for the first time since April 2019 in an upbeat start to the year for the entire complex on Monday January 4, where all forward prices rose by more than 1%. Nickel's price closed on Monday at 5pm $17,404 per tonne after closing last year at $16,613 per tonne. Nickel's rising...Read More
Except for copper, base metals stocks in Shanghai Futures Exchange-registered warehouses all recorded falls in the week to Thursday December 31, with zinc down the most by 13%. The anomaly in stock copper levels was stark, surging by 15.3%, while the rest of the base metals' inventories declined.Copper inventories totaled 86,679 tonnes on Thursday December 31, up by 11,530 tonnes or 15.3% from a w...Read More
The London Metal Exchange nickel price led the way on morning trading on Monday January 4 with a 4.3% rise from its closing price of 2020, reflecting an upbeat start to the year where all metals' forward prices rose by more than 1%. The three-month nickel price was at $17,335 per tonne on Monday at 9am, from Thursday December 31's closing price of $16,613 per tonne. Copper's three-month price was...Read More
Here are five Fastmarkets stories you might have missed on Monday January 4 that are worth another look.News of Covid-19 vaccines being distributed and administered around the world has boosted sentiment in Asian economies, with steel markets in the region seemingly upbeat on prospects in 2021.Sustainable mining of lithium - a critical...Read More
View the Fastmarkets holiday pricing schedule for 2021-2022.Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2021 and 2022. If you have any questions about Fastmarkets' pricing calendar, please contact Fastmarkets global base metals editor Juliet Walsh at juliet.walsh@fastmarke...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 1.China Both low-and high-grade manganese ore indices were published on Monday January 4 as per Fastmarkets' holiday pricing schedule. Seaborne manganese ore prices were little changed amid thin activity...Read More
Spot trading of copper concentrates was quiet in the last week of December, with fewer purchases from both smelters and traders. Fastmarkets' copper concentrate treatment and refining charges (TC/RCs) continued to rise, with offers for copper concentrates to smelters remaining in the mid to high $40s, while smelters bid at $50 per tonne for clean qualities. A combo deal of Bisha and clean qualitie...Read More
View the Fastmarkets holiday pricing schedule for 2021-2022.Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2021 and 2022. If you have any questions about Fastmarkets' pricing calendar, please contact Fastmarkets global base metals editor Juliet Walsh at juliet.walsh@fastmarke...Read More
Here are five Fastmarkets stories you might have missed on Monday January 4 that are worth another look.News of Covid-19 vaccines being distributed and administered around the world has boosted sentiment in Asian economies, with steel markets in the region seemingly upbeat on prospects in 2021.Sustainable mining of lithium - a critical...Read More
The Turkish deep-sea scrap markets were quiet at the start of this week due to new year holidays, but purchasing activity was expected to resume soon, market sources said on Monday January 4.Turkish steelmakers have been silent in the deep-sea markets since December 24, when a steel mill in the Marmara region booked a Baltic Sea cargo containing 30,000 tonnes of shredded scrap at $480 per tonne cf...Read More
Turkish domestic prices for auto bundle steel scrap have gone down with the strengthening of the country's lira, while firm values for imported scrap were keeping ship scrap prices on an upward trend over the past week, sources said on Monday January 4.The Turkish lira has become stronger since the Turkish Central Bank raised interest rates on December 24.The bank raised the one-week repo rate by...Read More
The new year has started with optimism in the air and base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up by an average of 1.8% and 1.4% respectively this morning, Monday January 14. Most Asian-Pacific equity indices were also showing gains, while the dollar index remains in low ground.Volume traded on the LME has been high with 12,012 lots traded as at 6.38am Lon...Read More