The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More
China will be able to absorb the large volumes of ore and ferro-alloys supply it imported in the first half of this year, but supply concerns loom, Fastmarkets head of research Alistair Ramsay said during a recent Fastmarkets webinar on Covid-19 and what it means for trade flow and demand for key ferro-alloys and ores."It is been an extraordinary period with record levels of ores and ferro-alloys...Read More
Three containers of copper from Turkey heading to a Chinese smelter have been discovered to have been filled with bricks upon arrival in Lianyungang port in China, sources have told Fastmarkets. The containers, that were supposed to be each transporting about 25 tonnes of 99% copper-content blister, were inspected by customs personnel last week, according to photographs seen by Fastmarkets. Two in...Read More
The market for UG2 chrome ore ticked up in the week to September 15 on strengthening sentiment amid low liquidity, while both the domestic and imported ferro-chrome markets remained stable, sources said.Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China edged up by $1 per tonne to $138 per tonne week on week on Tuesday September 15."There has been a little flurry of a...Read More
The weakness in metals and equities this morning, Thursday September 17, indicates markets were taking the US Federal Open Market Committee’s (FOMC) projections and comments that they will likely keep interest rates on hold through at least 2023 as suggesting there will continue to be tough times ahead in the real economy.Does this highlight the start of a reality check where markets start to...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 15 that are worth another look.BHP has flagged inconsistent profits caused by volatile commodity prices as a key risk to its business.Rio Tinto is to launch its first closed-loop recycling program, offering customers in North...Read More
The Section 232 tariffs applied to US aluminium imports from Canada have again been removed - just 40 days after the reintroduction of those duties was announced, the Office of the United States Trade Representative (USTR) said on Tuesday September 15."The United States will resume duty-free treatment of non-alloyed, unwrought aluminium, retrospective to September 1," the Office of the USTR said.T...Read More
Recent gains in London Metal Exchange three-month base metals prices stalled at the close on Tuesday September 15 after consumer jitters set in ahead of the following day's United States Federal Reserve meeting. A slew of better industrial data from China failed to offer price support while a stronger dollar index, trading up 0.19% at around $93.12 during the afternoon session was an effective hea...Read More
Norwegian ferro-silicon producer Finnfjord Smelteverk will stop ferro-silicon production for two weeks from this weekend because of planned maintenance to its three furnaces, a source told Fastmarkets.The amount of production that will be lost is unclear, although output was down by about 3,500 tonnes when it carried out maintenance on one furnace in the third qu...Read More
An overview of the chrome ore and alloy markets and their latest price moves.Japan & South Korea A bullish Indian market continues to support imported ferro-chrome prices in Japan and South Korea.Despite elevated offers from Indian suppliers, spot demand remained...Read More
Chilean copper producer Codelco has agreed a 36-month labor deal with the union representing supervisors at the El Teniente copper mine, the state-owned company said on Monday September 14.Codelco said the 36-month labor contract renewal deal includes no pay rises to enable the company to secure unit profitability and to generate resources for Chile to tackle social and health issue...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 15 that are worth another look.BHP has flagged inconsistent profits caused by volatile commodity prices as a key risk to its business.Rio Tinto is to launch its first closed-loop recycling program, offering customers in North...Read More
China-based minor metals producer Vital Materials has agreed to acquire the ceramic target business division of Samsung Corning Advanced Glass (SCG) - a joint venture between Samsung Display and Corning Incorporated - Vital told Fastmarkets on September 15.SCG's ceramic target business - in Gumi, South Korea - is an indium tin oxide, (ITO), indium zinc oxide (IZO) and indium gallium zinc oxide (IG...Read More
The Turkish steel mills continued to hold back from deep-sea scrap purchases on the second working day of this week amid softening demand for finished long steel products, sources said on Tuesday September 15.Mills in Turkey booked seven deep-sea cargoes, totalling around 230,000 tonnes, early last week before withdrawing from the market on September 10.The most recent deep-sea bookings put scrap...Read More
Rio Tinto is to launch its first closed-loop recycling program, offering customers in North America a new scrap take-back solution and the production of high-quality alloys made with recycled content. The service, which will be available from next year, complements the company's production of low-carbon aluminium and is designed to give its customers greater choice while they look to meet increasi...Read More
Base metals prices were for the most part firmer this morning, Tuesday September 15, supported by some good Chinese economic data. China's industrial production climbed by 5.6% year on year in August, after a 4.8% rise in July, while retail sales rose by 0.5% year on year in August, after a 1.1% fall in July.Asian-Pacific equities were mixed, however, with gains in China, Hong Kong and South Korea...Read More
Key data from the Tuesday September 15 pricing session in London.Key driversCobalt metal prices edge higher; cheaper offers fade with some sellers setting their new target prices closer to $16 per lb citing a well-underpinned market on news that China's State Reserve Bureau will begin stockpiling metal. Lack of clarity...Read More
Lithium market experts welcomed news that Argentina has struck a deal with private investors to restructure a large chunk of its debt because it will help provide a steadier environment for investors in the country.But miners of the key battery raw material continue to face short-term challenges due to low lithium prices. Argentina, alongside Chile and Bolivia, is part of the so-called lithium tri...Read More
Domestic prices for hot-rolled coil in Northern Europe were fairly stable day on day on Tuesday September 15, with sentiment in the market remaining positive, sources have told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?476.98 ($565.72) per tonne on Tuesday, up by ?,?0.53 per tonne from ?,?476.45 per tonne on Monday.The index was...Read More
China's auto output and sales have posted annual increases over the past five consecutive months, which points to a steady recovery from the Covid-19 pandemic, the China Association of Automobile Manufacturers (CAAM) says.The country produced 2.12 million units of vehicles in August, up by 6.3% from a year earlier, while sales rose 11.6% year on year to 2.19 million units, CAAM reported last Thurs...Read More