Seaborne iron ore prices were mostly flat at a high price level on Wednesday June 3 with the seaborne market continuing to be active in low-grade and mid-grade iron-ore fines trading, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $101.22 per tonne, down $0.10 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $104 per tonne, down $0.13 per tonne. 58% Fe fines high-grade premi...Read More
Mills in India and Pakistan have returned to the market for bulk scrap and have booked cargoes from the United States over the past few days, sources told Fastmarkets on Wednesday June 3.Indian and Pakistani steelmakers increased their purchases of containerized scrap imports in recent weeks while Covid-19 lockdown measures eased and steelmaking operations ramped up in both countries.Furthermore,...Read More
China's hot-rolled coil market weakened on Wednesday June 3 on futures losses, but exporters kept offering high despite thin trading.DomesticEastern China (Shanghai): 3,640-3,660 yuan ($512-515) per tonne, down 10-20 yuan per tonneSellers in Shanghai offered at 3,660 yuan per tonne this morning, but cut offers to around 3,640 yuan per tonne in the afternoon after market sentiment was dampened by f...Read More
China's domestic rebar prices strengthened further on Wednesday June 3 on market participants' positive outlook for demand over the next few months. Domestic Eastern China (Shanghai): 3,610-3,640 yuan ($508-512) per tonne, up by 20 yuan per tonneThe Chinese finance ministry said that the country had issued 3.2 trillion yuan of local bonds in the first five months of 2020, up by 65.1% year on year....Read More
The three-month copper price on the London Metal Exchange was up during morning trading on Wednesday June 3, maintaining a push above the nearby $5,500-per-tonne threshold achieved on Tuesday afternoon, while weak demand continues to pressure zinc futures downward. Copper's outright price on the LME was recently seen at $5,529.50 per tonne, while turnover topped the complex over the morning with m...Read More
Key data from the June 3 pricing session in London and Shanghai.Key drivers: - Cobalt hydroxide payables were steady in the first half of the week - fresh inquiries were relatively fewer than in late May, but buyers are still finalizing their latest round of spot top-ups. So far, suppliers have refused to compromise and accept lower bids. - Suppliers indicate they are holding their offers firm for...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, $/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, $/lb...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 transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed...Read More
Key data from Fastmarkets' pricing session in China on Wednesday June 3. Key drivers A lack of buying interest has kept China's domestic gallium market under pressure.A few suppliers slashed offer prices amid aggressive bids, while several others held back from...Read More
British Steel will suspend production at its Skinningrove site for three weeks from June 13, the company said on Tuesday June 2. The company said trading conditions remain challenging, including for products manufactured at the special profiles business in Skinningrove and they have now taken the...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday June 3. Key drivers Europe ferro-titanium market drops on slower demand. Scrap prices also fall, with ample availability seen in near term after some trade sources report a postponement or cancellation in orders that have created extra supply for now. But market participants expect that increase in scrap supply to...Read More
The metals were for the most part weaker this morning, Thursday June 4, while Asian-Pacific equities were stronger. * While Asian-Pacific equities were firmer, pre-market major western equity index futures were showing losses.* Germany provides its economy with a €130 billion ($145.8 billion) stimulus package, including a 3 percentage point cut in value-added tax (VAT) and a doubling of rebat...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 21 points in pre-opening trade.The European Central Bank maintained current interest rates after releasing its monetary statement.Index futures moved lower following release of economic news at 8:30 AM EDT. Consensus for First Quarter Non-farm Productivity was a drop of 2.7% versus a gain of 1.2% in the fourth quarter...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More
Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More
Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned utility Zesco Ltd after a long-term supply contract between the copper producer and the Copperbelt Energy Corporation (CEC) expired.Zesco is now transmitting power via CEC infrastructure to KCM operations while the two parties finalize their agreement.A 20-year contract between CEC and KCM, which op...Read More
Spot treatment charges (TCs) for zinc and lead concentrate continued their downward trajectories in May even as some South American miners announced restart of operations after two months of Covid-19 related shutdowns. Miners are in need of cash and keen to resume production but they face the challenge of a rising number of coronavirus cases in the continent, which the World Health Organizati...Read More
Here are five Fastmarkets stories you might have missed on Tuesday June 2 that are worth another look.The Canadian International Trade Tribunal (CITT) has initiated an inquiry as to whether imports of heavy steel plate from four nations and the island of Taiwan cause injury to domestic producers.Konkola Copper Mines (KCM) has signed a provisional power supply agreement with Zambian state-owned uti...Read More
Atlantic Nickel's Santa Rita mine in Brazil is on track to ramp up to 105,000 tonnes by the end of 2020 and has seen strong market demand for sulfide concentrate throughout the Covid-19 pandemic, its owner said. According to Appian Capital Advisory LLP, the mine has produced over 30,000 tonnes of nickel concentrate to date and has successfully completed its second and third shipments ahead of the...Read More