Hot-rolled coil spot prices in China retreated to eight-month lows on Thursday November 4 as part of a broad-based decline led by coal.DomesticEastern China (Shanghai): 4,980-5,000 yuan ($779-782) per tonne, down by 70-100 yuan per tonneSpot HRC prices in China's eastern market fell to their lowest since March 18, wiping out all of Wednesday's gains.Traders reported that the price decline has redu...Read More
LME base metal prices rose during the morning session on Thursday November 4, shrugging off news that the Federal Reserve will scale back its monetary easing measures.Although the US central bank will taper its monthly bond buying programme, this does not mean an immediate rise in interest rates - the Federal Reserve "can be patient," according to chair Jerome Powell. The timing for rate increases...Read More
Domestic rebar prices in China stopped falling on Thursday November 4, reflecting tighter supply from steel mills and on the spot market.East China (Shanghai): 4,950-4,980 yuan ($774-778) per tonne, unchangedOver the week to Thursday, rebar output totaled 2.88 million tonnes, a decrease of 21,600 tonnes from the previous week. According to a local industry information...Read More
Base metals prices on the LME and SHFE were mixed early on Thursday November 4, but neither the metals nor the broader markets have been rattled by the US Federal Reserve's announcement that it is to start tapering its monthly bond buying programme.The United States Federal Reserve to trim bond buying by $15 billion a month - it had been buying $120 billion a monthA pick-up in Covid-19 cases in Ch...Read More
The price of manganese flake has reached all-time highs in China and Europe, with most producers remaining bullish on the medium-and long-term outlook due to supply tightness. However, risk aversion continues in Europe; some cheaper offers are casting doubts about the immediate price direction of the metal, Fastmarkets heard.The manganese flake price has been on the rise in China since May, peakin...Read More
Key data from Fastmarkets' pricing session onThursday November 4.Key DriversFastmarkets' price assessment for selenium narrowed upward on higher deals in a buoyant market, with buyers seeking spot units and long-term contracts...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...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,...Read More
An overview of the consumer electronics markets and their latest price moves on Thursday November 4.Janie Davies in London...Read More
International spot cobalt prices have continued their trend upward over the past week, fueled by bullish sentiment in long-term contract negotiations due to next year's improved demand outlook, sources said.Spot units remain in tight hands, with sellers offering aggressively, while some spot buying appetite has returned among consumers in the United States and the European markets following the co...Read More
A summary of Finland-based stainless steel producer Outokumpu's results for the third quarter of 2021.In brief Sales increased significantly year on year due to higher deliveries and stainless steel prices as the market recovers from Covid-19. Stainless steel deliveries increased by 18% from the third quarter of 2020, which was heavily affected by the pandemic, but declined by 8% compared with the...Read More
The copper scrap market in the United States lacked direction on Wednesday November 3, with many participants saying demand and supply remain in good balance and changes will largely be based on movement in terminal markets. "[The] copper trade is very quiet and stable and well balanced between supply and demand, albeit at lower levels," one dealer source said.A consumer agreed that "there's plent...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Friday November 5, but for the most part they were on a back foot and looking vulnerable.At the same time, base metals prices on the Shanghai Futures Exchange were mainly weaker while they tracked the weakness on the LME on Thursday, and because weaker coal prices in China are less likely to cause metal producers to cut p...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 21 points in pre-opening trade. Index futures moved higher following release of the U.S. October Employment Report at 8:30 AM EDT. Consensus for October Non-farm Payrolls was an increase of 450,000 versus an upwardly revised a gain of 312,000 in September. Actual was an increase of 531,000. Consensus for the October Un...Read More
Zinc's three-month price on the London Metal Exchange on Wednesday November 3 touched its lowest since October 13, with prices in the base metals complex ending the day on a mixed note ahead of the US Federal Reserve Bank's Federal Open Market Committee press conference.Zinc reached $3,263 per tonne on Wednesday, its lowest price since announcements by Nyrstar and Glencore that production in Europ...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 3.Please click...Read More
Nickel premiums remained steady in the United States, China and Europe in the week to November 3, although tight supplies and growing production disruptions are keeping prices high in the US. US nickel premiums hold at historic highsChinese premiums also stable with increased full plate imports into ChinaPremiums unchanged in Europe, with market focusing on contracts for 2022US premiums still at h...Read More
Chilean copper production decreased by 6.75% in September, compared to the same month in 2020, with all major mines in the country reporting lower figures, copper commission Cochilco said on Wednesday November 3.In September, some Chilean producers like Codelco faced workers' strikes, while a few also had drought issues and reported lower content in mined ore. These caused lower output during the...Read More
An increase in the latest ferro-chrome tender price has supported the imported charge chrome market and strengthened sentiment among some participants in the chrome ore sector.China's Tsingshan Group announced its tender price for November-delivery high-carbon ferro-chrome at 10,495 yuan ($1,640) per tonne on Friday October 29. This is up by 500 yuan per tonne from its October tender price.The lat...Read More
A summary of Peru-based metals producer Volcan's production figures and financial results for the third quarter of 2021, as stated in its earnings report published on Tuesday November 2.In brief Volcan's zinc and lead output growth in the quarter was spearheaded by higher mined and treated ore at the Yauli mine, in the Peruvian central Jun?-n region, although this was partially offset by a decreas...Read More