The Shanghai copper cathode premiums extended recent declines in the week ended Tuesday December 10 amid bearish sentiment ahead of year-end and Lunar New Year in January, while US and European markets were little changed. Shanghai cif premium hits fresh four-month low. US and European premiums unchanged amid thin trading. Year-end destocking, closed arb continue to weigh in Shanghai Bearish senti...Read More
A summary of Trafigura Group's financial results for the 2019 financial year ended September 30, 2019. In brief: Earnings before interest, taxes, depreciation and amortization (Ebitda) increased 24% year on year to $2.129 billion for 2019. In 2019, the Trafigura Group registered gross profit of $2.978 billion, a 25% increase on 2018 Net profit was steady in the 2019 financial yea...Read More
Domestic prices for hot-rolled coil have moved up in the south of Europe this week, supported by reduced output from the region's mills and higher import offers, sources told Fastmarkets on Wednesday December 11.In the meantime, domestic HRC prices in the north of the EU stood largely unchanged day on day, although sentiment remains largely positive due to reduced production and a lack o...Read More
The price of steel rebar in the Southern European domestic market was little changed this week, but market participants believe increases are likely because of higher scrap costs, sources told Fastmarkets on Wednesday December 11. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Southern Europe, was ?,?455-480 ($504-532) per tonne on Wednesday, down by ?,...Read More
Turkish steel producers have gone the day without any deep-sea scrap purchases, but more cargoes from last week for January shipments were heard on Wednesday December 11.A steel mill in northern Turkey was heard booking a Baltic Sea cargo on Friday December 4, comprising 9,000 tonnes of HMS 1&2 (80:20), 14,000 tonnes of shredded and 5,000 tonnes of a mixture of bonus and busheling at an average pr...Read More
Iron ore seaborne prices were up on Wednesday December 11 as steel mills were heard to have kept production levels steady, prompting appetite for the raw material.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.67 per tonne, up $1.10 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.76 per tonne, up $1.10 per tonne.62% Fe low-alumina fines, cfr Qingdao: $94.19 per to...Read More
Seaborne coking coal continued to trade in a narrow range on Wednesday December 11, with Chinese buying activity driving the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.99 per tonne, down $0.26 per tonnePremium hard coking coal, cfr Jingtang: $148.56 per tonne, down $1.78 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking...Read More
Anglo American has cut its annual iron ore production targets at the Kumba operations in South Africa over the 2020-2022 period, but left those for its Minas Rio operations in Brazil unchanged.The miner said it now expects annual iron ore output of 42-43 million tonnes for the coming three years at its Kumba iron...Read More
Japan's Kanto Tetsugen has secured a higher price at its ferrous scrap auction for December, which is likely to boost sentiment in the Asian market for the steelmaking raw material.A total of 23,000 tonnes of H2 scrap were sold to two trading companies on Wednesday December 11 at the auction held by the cooperative of scrap dealers in Japan's most-industrialized region - 3,000 tonnes priced at ?2...Read More
Chinese hot-rolled coil prices were mixed on Wednesday December 11, with those in the east of the country rising due to tight supply and those in the north flat amid sluggish demand.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($551-553) per tonne, up 60 yuan per tonneNorthern China (Tangshan): 3,660 yuan per tonne, unchangedSpot prices in eastern China surged amid active trading, with...Read More
The three-month nickel price on the London Metal Exchange was little changed during morning trading on Wednesday December 11 despite another sizeable inflow of material into LME-registered warehouses, keeping forward spreads wide. The LME nickel price was recently at $13,440 per tonne, $35 per tonne higher than Tuesday's closing price. Turnover was high at more than 2,600 lots exchanged over the m...Read More
China's domestic rebar prices were mixed amid weaker demand on Wednesday December 11, with eastern prices up but those in the north of the country down.Eastern China (Shanghai): 3,930-3,960 yuan ($558-563) per tonne, up 20 yuan per tonneNorthern China (Beijing): 3,640-3,670 yuan per tonne, down 10-20 yuan per tonneEnd users kept procurement rates limited and stockists were not looking to repl...Read More
When Gay Huey Evans attended her first London Metal Exchange dinner in 1999, she was head of markets at former UK regulator the Financial Services Authority (FSA) - some 20 years later she was there as LME chair elect, the first woman appointed to the role. "As a regulator I would send my markets people and occasionally come to learn a little bit more about commodities. I remember sitting in the b...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday December 11.Key drivers Price ranges in the alloy and scrap markets have widened over the past week, with sales reported for ferro-silicon at either end of its new price assessment.Low-tin titanium scrap was also trading at slightly higher price levels, although some sources said the market is fairly stable, with a b...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 10.Please click...Read More
Copper ended the Tuesday December 10 trading session on the London Metal Exchange at an intraday high and seven-month peak of $6,100 per tonne.And the three-month nickel price recovered some lost ground after falling by 3.5% this morning.The three-month copper price closed at its highest since May, climbing from an intraday low of $6,057 per tonne. Total volumes at the close were some 15,600 lots....Read More
Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Codelco, Escondida and Colluahasi almost enough to offset output drops at Antofagasta and Anglo American. Copper mines in the country produced 490,000 tonnes of copper content in October, from 490,400 tonnes a year before, Chilean copper commission Cochilco said on Friday December 6. This...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 10 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week to December 10 amid continued gains in the Chinese domestic market.Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Code...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 10 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week to December 10 amid continued gains in the Chinese domestic market.Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Code...Read More