China's domestic rebar prices continued to drop on Thursday August 20 amid falling futures and the release of data showing high steelmaking rates.Domestic Eastern China (Shanghai): 3,620-3,650 yuan ($523-527) per tonne, down by 20 yuan per tonneThe weakening futures market caused buying interest in the spot market to fall, which dragged down prices as well.The country's National Bureau of Statisti...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam,...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 transparency into the markets it covers and the pricing process it...Read More
Key data from Fastmarkets' pricing session in Shanghai on Wednesday August 19. Key driversDomestic suppliers held their offer prices firm and showed reluctance in compromising after continuous gains in futures prices on the Wuxi Stainless Steel Exchange buoyed market sentiment this week.The comparatively limited availability of tradable spot cargoes also contributed to the strength in the metal's...Read More
An overview of the minor metals markets andthe reasons for any price moves.(This article was first published on Wednesday August...Read More
Markets were for the most part upbeat this morning, Friday August 21, with all of the base metals on the London Metal Exchange firmer, as were most Asian-Pacific equities, although they are firmer within consolidation patterns.But after the accelerated gains at the start of the week, with the S&P 500 regaining all the losses suffered from the coronavirus hit and with the base metals now on average...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 17 points in pre-opening trade.The Canadian Dollar was virtually unchanged at US 75.62 cents following release of Canada's June Retail Sales report at 8:30 AM EDT. Consensus was an increase of 24.5% versus a gain of 18.7% in May. Actual was an increase of 23.7%. Excluding auto sales, consensus was an increase of 15.0%...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
Harry "Red" Conger has been appointed as the executive vice president and chief operating officer (COO) of Teck Resources, effective September 1.Known throughout the mining industry as "Red," Conger will be responsible for all of Teck's mining and metallurgical operations, projects and joint ventures across the copper, zinc, steelmaking coal and energy business units. Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 19.Please click...Read More
The Madras High Court of India has rejected Vedanta's plea to restart its Tuticorin copper complex, which has been closed since 2018.The long-awaited verdict came on Tuesday August 19 to uphold an earlier decision to keep the 400,000 tonne-per-year copper complex in Tamil Nadu closed with no access to electricity. In 2018, 13 locals were killed in a shooting incident during a protest aga...Read More
Nickel premiums in China were under pressure from lack of demand and lower offers in the week ended Tuesday August 18, while premiums in Europe and the United States were unchanged week on week. Premiums in China fall while nickel pig iron (NPI) and sulfate prices rise. US, European premiums stay muted in traditional August trading lull. China nickel premiums fall on weak activity The nickel...Read More
The alumina market once again had all eyes focused on developments at Hydro's Alunorte refinery in Brazil on Wednesday August 19, and alumina prices are pushing higher again. Hydro announced last night that it had halted operation of the pipeline transporting bauxite from its Paragominas bauxite mine to Alunorte alumina refinery for extended maintenance. It means production has been temporari...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
The Turkish deep-sea scrap import market has remained quiet so far this week, with mills staying away due to weak finished long steel demand, sources said on Wednesday August 19.The country's steel producers halted their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) was $285 per tonne cfr for material from the United States and the Baltic Sea.Since then, no significan...Read More
A sharp rise in the Kanto auction price and improved demand from South Korea helped Japanese export steel scrap prices rise over the last week, market sources told Fastmarkets on Wednesday August 19. Japan's monthly Kanto Tetsugen, which is an auction between a cooperative of scrap dealers in the Tokyo region, was moved back one week from its usual slot in the second Wednesday of the month due to...Read More
Most of the base metals on the London Metal Exchange were consolidating this morning, Wednesday August 19, after the majority of them extended gains on Tuesday; the exceptions were aluminium and tin, while copper was where the main action was this morning.The S&P 500 and Nasdaq established fresh record highs on Tuesday, while Asian-Pacific equities were mixed this morning.Gold prices are consolida...Read More
Key data from the Wednesday August 19 pricing session in Shanghai.Key drivers Spot cobalt metal prices in China continued to edge lower amid lackluster demand despite recent stability in local futures prices; consumers largely on the sidelines with adequate material on hand.Chinese cobalt tetroxide prices softened...Read More