(Updates with closing prices) By Peter Hobson LONDON, Jan 3 (Reuters) - Copper and most other industrialmetals fell on Friday as the killing of a top Iranian commanderby the United States sent shockwaves through markets, pushingoil prices sharply higher.Investors rushed to safe-haven assets such as gold and stockmarkets fell as Iran said it would seek revenge. Benchmark copper on the London Metal...Read More
The three-month price of zinc on the London Metal Exchange had made the greatest gains at the close of trading on Thursday January 2, with the price breaching nearby resistance levels, but copper futures failed to close above the $6,200 per tonne threshold despite an afternoon spike.Zinc's outright price closed at $2,310 per tonne in the afternoon, the highest close since December 27, while tradin...Read More
The majority of Chinese annual blister copper supply contracts for 2020 have settled at significantly lower refining charges (RC) on expected tight supply of the intermediate product. The bulk of 2020 blister copper 98-99% annual benchmark RC cif China supply contracts have been agreed at $125-133 per tonne. The range compares with $155-175 per tonne for 2019. In late November last year, init...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Thursday January 2.Please click...Read More
The majority of Chinese annual blister copper supply contracts for 2020 have settled at significantly lower refining charges (RC) on expected tight supply of the intermediate product. The bulk of 2020 blister copper 98-99% annual benchmark RC cif China supply contracts have been agreed at $125-133 per tonne. The range compares with $155-175 per tonne for 2019. In late November last year, init...Read More
Gerald has appointed Patricia Nikolopoulos as its new chief financial officer and to its board of directors, the company said on Monday December 30. Nikolopoulos, who was formerly CFO of Gerald's North America business, is formally replacing Vittorio Conti who left...Read More
The Chinese city of Ganzhou has launched an exchange for physical trading of rare earths and other minor metals. The Ganzhou Rare Metal Exchange was launched on December 31, 2019, according to the Association of China Rare Earth Industry. The Ganzhou exchange will trade cobalt, rare...Read More
The majority of Chinese annual blister copper supply contracts for 2020 have settled at significantly lower refining charges (RC) on expected tight supply of the intermediate product. The bulk of 2020 blister copper 98-99% annual benchmark RC cif China supply contracts have been agreed at $125-133 per tonne. The range compares with $155-175 per tonne for 2019. In late November last year, init...Read More
Turkish steel mills remained quiet in the deep-sea scrap import market on Thursday January 2, with most suppliers staying out of the market due to the year-end holidays, sources told Fastmarkets.Turkey's deep-sea scrap import market has been silent since December 20, when a Baltic Sea cargo was booked at $303 per tonne cfr.Sentiment, however, has now turned negative becaus...Read More
The outlook for US aluminium scrap prices in 2020 appears gloomy on the surface while the market in the United States remains plagued by oversupply, market sources say.But pockets of optimism remain, with some participants suggesting that prices have now bottomed out."It changes every day. One day people think [China's] going to take more product, more copper and aluminium, and the next day everyo...Read More
Trade log for battery-grade lithium carbonate in China including trades, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per tonne on an ex-works China basis. Delivered prices are netted back. Fastmarkets prices Click here for Fastmarkets price assessment for lithium carbonate 99.5% Li2CO3 min, battery grade, spot price range exw China, yuan/tonne. Fastmarkets lith...Read More
Cobalt hydroxide consumers will continue to have exposure to the spot market this year, with some of their requirements likely to be topped up from producer stocks held in Asian warehouses, sources told Fastmarkets. The creation of a nearby spot market has appeal in cutting the long shipping times, as well as reducing the potential for logistical difficulties and price risk associated with shippin...Read More
The domestic price for hot-rolled coil in Northern Europe was largely unchanged on Thursday January 2, due to slow trading activity, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index domestic, exw Northern Europe, was largely stable at ?,?439.17 ($492.27) per tonne on Thursday January 2, compared with ?,?439.39 per tonne on December 31.Market activity has...Read More
China's domestic hot-rolled coil prices were flat on Thursday January 2 although Tangshan announced short-term steelmaking restrictions to improve air quality. DomesticEastern China (Shanghai): 3,900-3,920 yuan ($560-563) per tonne, unchangedNorthern China (Tangshan): 3,640 yuan per tonne, unchangedA large number of steel mills in northern China's steel hub of Tangshan were instructed to implement...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday January 2 that are worth another look.The Chinese city of Ganzhou has launched an exchange for physical trading of rare earths and other minor metals. The outlook for aluminium scrap prices in the United States appears gloomy on the surface for 2020, with market sources noting that the US market remains plagued b...Read More
The price of steel rebar in both the Northern and Southern European markets was unchanged this week, with trading activity not yet resumed after the year-end holidays, Fastmarkets heard on Thursday January 2.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was...Read More
The price of steel mesh-quality wire rod in the Northern and Southern European markets was unchanged in the week to Thursday January 2 due to the lack of trading activity resulting from year-end holidays.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?450-460 ($504-516) per tonne...Read More
Turkish steel mills remained quiet in the deep-sea scrap import market on Thursday January 2, with most suppliers staying out of the market due to the year-end holidays, sources told Fastmarkets.Turkey's deep-sea scrap import market has been silent since December 20, when a Baltic Sea cargo was booked at $303 per tonne cfr.Sentiment, however, has now turned negative becaus...Read More
Iron ore prices advanced on Thursday January 2 despite a downturn in rebar and further production restrictions in China's steel hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.05 per tonne, up $1.92 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.14 per tonne, up $1.92 per tonne.62% Fe low-alumina fines, cfr Qingdao: $94.35 per tonne, up $1.81 per t...Read More
Prices for 62% Fe iron ore experienced a gradual recovery as 2019 came to an end, rising to the $90-per-tonne level, while the high-grade 65% Fe segment even breached $100 per tonne.Traded volumes for the Singapore Exchange's 65% Fe futures contract, which is settled against Fastmarkets' daily index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao, amounted to 1.994 million tonnes in December....Read More