Seaborne iron ore prices weakened on Wednesday June 17 amid concerns over the demand outlook for steel products.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $104.09 per tonne, down $0.76 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $106.43 per tonne, down $1.37 per tonne. 58% Fe fines high-grade premium, cfr Qingdao: $92.78 per tonne, down $1.23 per tonne. 65% Fe Brazil-o...Read More
BHP has appointed David Lamont as its new chief financial officer effective December 1, 2020, ahead of the departure of the current CFO Peter Beaven, the company announced on Wednesday June 17.Currently Lamont is the CFO of the Australia Stock Exchange-listed biotech company CSL, a position he has held since January 2016.Read More
The Shanghai Futures Exchange aluminium price uptrend will last at least until the end of June on recently strong downstream demand but new aluminium projects as well imported material may cap that, several aluminium market experts said to Fastmarkets on June 16.The SHFE aluminium price stood at 13,875 yuan ($1,957) per tonne on June 16, up 270 yuan from Monday's close at 13,600 yuan per tonne. Th...Read More
China's domestic rebar prices dropped slightly on Wednesday June 17 amid concerns over whether the construction sector would come under restrictions due to a fresh Covid-19 outbreak in Beijing.Domestic Eastern China (Shanghai): 3,550-3,580 yuan ($501-505) per tonne, down by 20 yuan per tonneMarket participants are worried that construction sites in Beijing would have to stop work to contain the sp...Read More
The London Metal Exchange three-month nickel price held just above $13,000 per tonne during morning trading on Wednesday May 17, having rallied by 2.2% at the previous day's close and shrugged off a marginal 180-tonne inflow of stock into Kaohsiung, Taiwan. The LME three-month nickel contract was recently trading around $13,015 per tonne, remaining above the $13,000 per tonne psychological level b...Read More
Markets were mixed this morning, Wednesday June 17, while bullish sentiment continues to be fueled by government liquidity and stimulus but Covid-19 concerns and economic reality remain headwinds.Asian-Pacific equity markets were mixed this morning, but pre-market major western equity index futures were weaker. Passenger car registrations in the European Union fall by 52.3% year on year in May, Ap...Read More
The cobalt standard grade, in-whs Rotterdam 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...Read More
The cobalt alloy grade, in-whs Rotterdam 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...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
The cobalt standard grade, in-whs Rotterdam 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
The cobalt alloy grade, in-whs Rotterdam 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...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 17.Key driversEuropean ferro-titanium and scrap markets drop amid quiet demand, resuming losses after briefly stabilizing last week. Market sources expect to find a floor at present price levels until the third quarter when scrap arisings - which have been falling for several weeks while international lockdowns due to...Read More
At 5,500 meters above sea level, a team of four from a major Chinese zinc smelter was driving up a snowy mountain in the summer of 2018, on their way to the country's largest known zinc-lead deposit - the Huoshaoyun deposit southwest of Hotan County in the Xinjiang Uyghur Autonomous Region.But the field trip came to an abrupt end when the team was just two hours away from the site. "We...Read More
Markets were mixed again this morning, Thursday June 18; equity indices were weighing up the possible impact of second waves of Covid-19 against the supportive measures governments continue to provide and pledge. * Asian-Pacific equity markets were mainly weaker this morning, as were pre-market major western equity index futures; the exception was China’s CSI 300 Index. * Developing Asian cou...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 18 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus the June Philly Fed Index was -23.0 versus -43.1 in May. Actual was +27.5.Consensus for Weekly Jobless Claims was 1.3 million versus 1,566 last week. Actual was 1.508 million.The Bank of E...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 16 that are worth another look.Swedish stainless steel producer Sandvik is to cut 429 jobs from its Sandvik Materials Technology division later this year because of the negative impact on business of the Covid-19 pandemicFerrous scrap prices have ticked up slightly in Mexico, although overall steel production and industrial ac...Read More
The unveiling of the US Federal Reserve's corporate bond purchase program late in the European trading day on Monday June 15 revived investor confidence in commodities on Tuesday, boosting LME three-month base metals prices. Donald Trump's administration is currently considering a potential infrastructure bill valued at nearly $1 trillion, fueling risk-on sentiment across the LME base metals compl...Read More
China has released a minimal amount of quotas in its eighth announcement in 2020 to allow importers to source copper and aluminium scrap from overseas, Fastmarkets understands. An extra 1,570 tonnes of copper scrap and 5,840 tonnes of aluminium scrap could be allocated for import into the country this year, the environmental ministry said on Tuesday June 16.So far...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 16 that are worth another look.Swedish stainless steel producer Sandvik is to cut 429 jobs from its Sandvik Materials Technology division later this year because of the negative impact on business of the Covid-19 pandemicFerrous scrap prices have ticked up slightly in Mexico, although overall steel production and industrial ac...Read More
The electric vehicle (EV) sector will continue to find support in the medium term despite the overall impact of Covid-19 on global automotive output in 2020, according to battery materials manufacturer Umicore. The Belgian company anticipates a 25% decline in total global automotive production this year, but while the coronavirus and its impact on the global economy have clouded the outl...Read More