Global cobalt supply can't keep pace with surging cobalt consumption because its production is tied to copper and nickel mining rather than underlying demand, the chief executive officer of diversified mining company Eurasian Resources Group (ERG) said.The issue at the heart of industrially mined cobalt supply is that it is almost exclusively a by-product of copper and nickel mining, Benedikt Sobo...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 13 points in pre-opening trade.Fastenal slipped $0.43 to $51.80 after reporting less than consensus third quarter revenues. Charter Communications dropped $5.11 to $690.12 after Deutsche Bank downgraded the stock from Buy to Hold. Target was reduced from $825 to $725.Netflix added $4.15 to 631.20 after Truist raised it...Read More
A more cautious approach towards copper - due to factors including fears over energy, logistics and inflation - has failed to deter demand for the metal, according to the chairman of Chilean state-owned miner Codelco.This includes in China, the world's largest consumer of copper and where Evergrande, the country's second-largest real estate company, has been struggling to repay over $300 billion o...Read More
Base metals prices on the London Metal Exchange were mostly trading higher at the close of business on Monday October 11, with LME Week beginning in London.Aluminium prices were the star performer, rising by 3.3% to more than $3,000 per tonne. The three-month price closed at $3,064 per tonne, up from $2,966 per tonne at the close on Friday.The price reached $3,072.50 per tonne on Monday - a 13-yea...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in quiet pre-opening trade. Today is a partial holiday in the U.S.: The bond market is closed and equity markets are open. WTI crude oil surged $2.61 to $81.96 per barrel.Starbucks slipped $1.33 to $112.55 after Deutsche Bank lowered its rating from Buy to Hold.Zoom dropped $1.26 to $253.79 after Stifel Nico...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Base metals prices on both the Shanghai Futures Exchange and London Metal Exchange were, for the most part, up across the board on the morning of Monday October 11, along with Asia-Pacific equities.* Metals stronger despite strong US treasury yields* Brent crude oil approaching $84 per barrel* Disappointing US employment report may hold US Federal Reserve back and give inflation a freer handBase m...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
Here are five Fastmarkets stories you might have missed on Friday October 8 that are worth another look.South American flat steel import prices were mostly stable or moved slightly in the week to Friday October 8 amid China's National Day holiday and few offers from other origins.Some of the most important...Read More
The congestion at major ports that has affected shipping operations for metals and minerals on the China-to-Europe route is set to worsen in the next three or four months, sources told Fastmarkets during last week's International Colloquium on Refractories conference in Aachen, Germany.Lead times for cargo shipping from China to European ports have increased in recent months because of a series of...Read More
Iron ore prices went up on Friday October 8 with improved trading liquidity after the Chinese holiday, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.38 per tonne, up $6.36 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.95 per tonne, up $7.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $95.86 per tonne, up $4.64 per tonne65% Fe Brazil-origin fines, cfr Qi...Read More
Iron ore prices went up on Friday October 8 with improved trading liquidity after the Chinese holiday, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.38 per tonne, up $6.36 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.95 per tonne, up $7.08 per tonne58% Fe fines high-grade premium, cfr Qingdao: $95.86 per tonne, up $4.64 per tonne65% Fe Brazil-origin fines, cfr Qi...Read More
Renault Group, a leading automotive maker in both the electric vehicle (EV) and non-EV sectors has signed a Memorandum of Understanding (MoU) with Finland's Terrafame for the future supply of nickel sulfate, according to a statement on October 8. Terrafame owns and operates a nickel, zinc, cobalt and copper mine at Sotkamo in eastern Finland and earlier this year brought online a nickel sulfate pl...Read More
Turkey and Russia have exhausted their permitted import quota allowances for certain long steel products within just days of renewal, Fastmarkets has observed from European Commission data.The import market for long steel products in the European Union has remained strained because of safeguard measures. The fourth-quarter quota for steel imports into the EU came into effect on October 1 and will...Read More
Trading activity in the United States' pig iron import market was low in the week to Friday October 8 due to uncertainty about the direction of prices.Fastmarkets' assessment of the price for pig iron, import, cfr Gulf of Mexico, US was $540 per tonne on Friday, narrowing upward by $10 from $530-540 per tonne a week earlier. The only deal in the...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
Rebar prices in Poland continue to fall due to weak buying interest but the downtrend is likely to reverse in October, sources told Fastmarkets on Friday October 8.Trading activity in the local rebar market remained subdued over the past week, with distributors still refraining from purchasing amid expectations of lower prices."End-user demand is not so bad - only distributors don't buy anything,"...Read More