Lithium needs a transparent market where demand and supply meet to foster the growth of the sector, attendees heard during the annual Lithium in the South America conference organised by Panorama Minero on Wednesday November 18.The event that normally takes place in Buenos Aires was hosted virtually this year due to Covid-19 related restrictions. Interest around bringing price transparency to the...Read More
China's domestic rebar prices resumed their uptrend on Thursday November 19 on falling stock levels and rising futures.DomesticEastern China (Shanghai): 4,150-4,180 yuan ($633-637) per tonne, up by 20 yuan per tonneSpot markets in the country had 4.88 million tonnes of rebar on Thursday, down by 577,000 tonnes from a week earlier, according to a local industry information provider.This, coupled wi...Read More
The United Kingdom's new green energy plan could stimulate demand for a range of industrial minerals and minor metals.UK Prime Minister Boris Johnson on November 18 laid out a 10-point plan to invest in renewable resources. As part of the plan, the government will invest ?12 billion ($15.88 billion), and it suggested this spending could spur at least three times...Read More
Strategic & Precious Metals Processing (SPMP) has named Joel Montgomery as its new chief executive with effect from November 1, Fastmarkets learned.Montgomery was chief operating officer and executive committee member at SPMP since September 2018 and has been acting CEO since February 2020.Montgomery spent 12 years with Vale copper nickel operations in Canada where he held various senior oper...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...Read More
The cobalt alloy 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...Read More
Fastmarkets has partnered with CME Group to launch a cash-settled cobalt contract to be settled against Fastmarkets' daily benchmark cobalt price assessment. The new contract will use an average of the midpoint Fastmarkets' standard grade, in-whs Rotterdam price assessment and will trade under the Bloomberg ticker MB071071 from December 14.The cobalt supply chain has been joined by automotive make...Read More
Joe Biden's victory in the United States presidential election helped propel the US silicon price to its highest level in 15 months, some market participants said, but others were skeptical. Fastmarkets assessed the price for silicon, ddp US, at $1-1.03 per lb on Thursday November 12, narrowing upward by 2 cents from $0.98-1.03 per lb on November 5 - two days before Biden was declared the presiden...Read More
China's domestic stainless steel prices decreased sharply over the week ended Wednesday November 18, sending them to their lowest in nearly four months amid pressure on mills to sell.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,100-14,300 yuan ($1,998-2,181) per tonne, down by 600-1,100 yuan per tonne from a week earlier. On average, prices are at their lowest since l...Read More
US copper scrap exporters are waiting to see how China's new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices."China is the big unknown," a non-ferrous scrap seller said. "If China starts buying again, we will see a big impact on domestic prices, but we will not see the impact before December."China launched a ne...Read More
The closure of Thyssenkrupps's heavy plate unit is very likely considering the company has received zero interest during the bidding process for its sale, the company said on November 19. German industrial group Thyssenkrupp is going through a restructuring and in May this year, it said it was examining whether to sell or close its heavy steel plate production sites.In its annual report for the fi...Read More
Long-term ferro-vanadium contracts for 2021 are being signed at an average of 5-7% discounts while negotiations continue in November, market sources told Fastmarkets.Long-term contracts for ferro-vanadium in Europe are usually settled against Fastmarkets' European benchmark price assessment with the parties agreeing a discount to the published price to take prevailing market fundamentals into acco...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.The Canadian Dollar added 0.04 to US76.62 cents following release of Canada's September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in August. Actual was an increase of 1.1%Workday added $10.20 to $241.00 after reporting higher than consensus quart...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Please click...Read More
Shanghai nickel premiums fell in the week to Tuesday November 17 while rates on briquette in the United States again succumbed to pressure from intense competition for business in the spot market.Chinese premiums fall as arbitrage losses worsenDeclining spot offers push US briquette premium lowerEuropean buyers see ample supply; ride out LME volatilityShanghai full-plate premiums fall, their first...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
Fastmarkets has identified a necessary clarification to the magnesium oxide specification for its UG2 chrome ore index.Fastmarkets has updated the magnesium oxide (MgO) specifications of its weekly price index for UG2 chrome ore to match the quality listed in the index's pricing notice.The MgO previously, and erroneously, was listed in the specifications at MgO max 0.15% although the correct quali...Read More
Commodities trader and producer Glencore is starting production from the Mokala manganese ore mine in South Africa, an industry source has informed Fastmarkets.The mine will produce semi-carbonate 37% manganese ore, and was expected to ramp-up production to its full capacity of 1.5 million tonnes per year around the start of...Read More
The price paid for a lower grade of high-carbon ferro-chrome in Europe fell in the week to November 17 amid weak demand while the higher grade market was stable with some producers preferring not to be active, sources said.Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-64.9% Cr, max 3% Si, cif Europe price assessment fell by 1 cent or 1.3% to $0.75-0.82 per lb Cr on Tuesday November 17.T...Read More