Deliverable base metals stocks in Shanghai Futures Exchange-registered warehouses all increased in the week to Friday October 8, according to the exchange's weekly report.Due to China's National Day holiday on October 1-7, there was just one trade day this week.Tin, nickel, and copper stocks all increased significantly, with tin climbing the most in percentage terms.On Friday, the tin stockpile me...Read More
An overview of the new energy materials markets and their price moves in the week to Friday October 8.Susan Zou, Yingchi Yang and...Read More
Canadian junior miner Lithium Americas has increased its resource estimate and capacity of its lithium mine project at Thacker Pass, in the US state of Nevada.The new resource estimate is 13.7 tonnes of lithium carbonate equivalent (LCE), more than double the estimate in 2018, Lithium Americas said on Thursday October 7.Phase 1 capacity increased to 40,000 tonnes of lithium carbonate annually, up...Read More
Surging spot spodumene prices following aggressive bids in the latest Pilbara Minerals' spodumene concentrate auction has elevated negotiated prices for fourth-quarter term contracts, market sources told Fastmarkets.Bids for SC 5.5% units reached a high of $2,240 per dry metric tonne (dmt), fob Hedland, during the Australian miner's second spodumene auction on its Battery Metals Exchange on Tuesda...Read More
Here are five Fastmarkets stories you might have missed on Thursday October 7 that are worth another look.Steel producer Feralpi Group is to invest ?,?100 million ($115 million) in renewable power at its Italian sites, it announced on Thursday October 7.Vale has resumed activities at its On??a...Read More
Seaborne coking coal prices mostly increased after the National Day holiday in China, while China's coking coal-producing hub Shanxi province was hit by heavy rains, causing production halts at mines.Fastmarkets indicesPremium hard coking coal, cfr Jingtang: $609.79 per tonne, up $6.51 per tonneHard coking coal, cfr Jingtang: $565.06 per tonne, down $0.08 per tonnePremium hard coking coal, fob DBC...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
Most base metals prices on the London Metal Exchange closed higher day on day in Friday's session.The three-month nickel price led the base metals complex, closing at $19,221 per tonne, up by more than 5% on Friday compared with Thursday's close at $18,264 per tonne."We view the recent price weakness in LME nickel as a buying opportunity and...Read More
Global ferrous scrap prices increased in the week ended October 8 in response to improving downstream demand for billet and rebar.Turkish mills pay higher prices on improving downstream demandUnited States sells a bulk cargo to Turkey at a $5-per-tonne increaseVietnamese buyers opt for bulk HMS 1&2 (80:20) cargoes from US, AustraliaTaiwanese buyers continue to purchase containerized cargoesIndian...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
Brazilian slab export prices decreased in the week ended Friday October 8 amid continuing weak buying activity and strong competition from other regions.Fastmarkets' weekly price assessment for steel slab, export, fob main port Brazil was down to $760-780 per tonne on Friday, down by $20 from $780-800 per tonne on October 1.Bids for Brazilian material were heard close to $720 per tonne fob in...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
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
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
Spot prices for hot-rolled coil in China rose sharply on Friday October 8 compared with the last trading day before the week-long public holiday, propelled by continued production curbs and a jump in iron ore prices.DomesticEastern China (Shanghai): 5,820-5,870 yuan ($903-910) per tonne, up by 80-100 yuan per tonneNorthern China (Tangshan): weekly assessment: 5,780-5,800 yuan ($896-899) per tonne,...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 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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...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
The export pig iron market from the Commonwealth of Independent States was quiet during the week to Thursday October 7, mainly due to the inactivity of suppliers.Fastmarkets assessed high-manganese pig iron, export, fob main port Black Sea, CIS at $490-510 per tonne on Thursday, narrowing downward by $5 from $490-515 per tonne the previous week."The market has been quiet but is getting hot because...Read More
Some of the most important countries in global mining production are moving forward with talks to secure a larger share of the commodity price escalation seen during the Covid-19 pandemic, mostly to fund their own social programs - but companies and industry groups fear this could compromise future investments.South American mining giants Chile, Peru and Brazil seek to increase mining royalties, e...Read More