Prices for seaborne premium hard coking coal rose on Friday November 22, though participants said that there was little room for the market to strengthen significantly in the coming weeks.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.76 per tonne, up $1.25 per tonnePremium hard coking coal, cfr Jingtang: $145.39 per tonne, up $1.32 per tonneHard coking coal, fob DBCT: $120.70 per ton...Read More
Eastern China's rebar prices dropped slightly on Friday November 22 - the first downward movement in 10 days - amid concerns over high production rates, though futures picked up. Eastern China (Shanghai): 4,070-4,100 yuan ($579-583) per tonne, down 10-20 yuan per tonneNorthern China (Beijing): 3,780-3,820 yuan per tonne, up 20-30 yuan per tonneTraders in eastern China cut prices slightly to genera...Read More
China's hot-rolled coil exporters maintained high offers on Friday November 22 amid price gains in the country's eastern region.DomesticEastern China (Shanghai): 3,670-3,700 yuan ($522-526) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,650-3,660 yuan per tonne, narrowing downward by 10 yuan per tonneSellers in Shanghai started selling at around 3,670 yuan per tonne in the earlier...Read More
The European Commission will consider early next year whether to add cadmium to the European Union's critical raw materials list, with the aim of encouraging production and recycling of this metal widely used in batteries, and hence potentially helping the EU economy move away from fossil fuels. Such a listing is designed to incentivize European production of a critical raw material that is in sho...Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves. Read More
Diplomats at the World Trade Organisation's goods council have attacked the European Union over its plans to integrate titanium dioxide and cobalt into its health and safety laws, claiming this could impose unnecessary restrictions on exporting certain stainless steels to the EU.The European Parliament is considering regulating these steel inputs under its classification, labeling and packaging of...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday November 22. China The domestic Chinese ferro-silicon price remained unchanged after producers refused to lower offer prices despite slow trades. Export price was also steady on firm offer prices from major suppliers, but persistent weak demand has resulted in some lower offers among tra...Read More
Steady demand in Taiwan continues to prop up ferrous scrap prices, which maintained a slight upward trend this week. Demand in the major import market of Vietnam remained weak due to the narrow price spread between ferrous scrap and downstream billet, with few buyers willing to pay higher for deep-sea cargoes. There was, however, interest for lower-priced Japanese scrap. VietnamFastmarkets' p...Read More
* GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Nov 22 (Reuters) - Copper rebounded on Friday aftercomments by the U.S. and Chinese presidents raised hopes thatthe two countries will forge a trade deal. Donald Trump said on Friday that a trade deal with China is"potentially very close" while Xi Jinping said that China wantsto work out an initial trade p...Read More
The three-month tin price on the London Metal Exchange rose by 2.4% against high turnover at the close of trading on Thursday November 21, while lead futures continued their decline over the afternoon. Tin's outright price on the LME closed at $16,400 per tonne up from Wednesday's closing price of $16,020 per tonne, while daily trading volumes were at their highest since November 13 at 482 lots ex...Read More
Low profit margins in the refined copper business and restrictions in global scrap flows have attracted large segments of the market in Europe and Asia to diversify into cheaper equivalent grade (EQ) copper cathodes despite greater risks related to financing difficulties and unreliability of supply. EQ grade copper cathodes refer to those that conform to grade A copper cathode specifications as de...Read More
The benchmark fob Australia alumina price stabilized around $278 per tonne on Thursday November 21 during a low-liquidity week. Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $278.65 per tonne on Thursday, little changed from $278.86 per tonne on the previous day - and down from $281.10 a week earlier. Key drivers Alumina prices remained rangebound this week, wi...Read More
The benchmark fob Australia alumina price stabilized around $278 per tonne on Thursday November 21 during a low-liquidity week. Fastmarkets calculated the benchmark daily alumina index, fob Australia, at $278.65 per tonne on Thursday, little changed from $278.86 per tonne on the previous day - and down from $281.10 a week earlier. Key drivers Alumina prices remained rangebound this week, wi...Read More
Press Metal, the largest aluminium producer in Southeast Asia, has finalized a shareholder agreement with Bintan Alumina Indonesia (BAI) for 25% of the company, which will allow the former to "secure a long-term supply of alumina." Press Metal has invested 3.07 billion yuan ($437.03 million) in BAI, with the funding going toward a second phase of the Indonesia-based alumina project to double capac...Read More
The Chinese cobalt sulfate price fell again in the latest pricing session, under constant pressure since mid-October from significantly shrinking buying appetite amid a bearish near-term outlook for electric vehicle (EV) development. Fastmarkets' assessment of the cobalt sulfate 20.5% Co basis, exw China price dropped to 44,000-46,000 yuan ($6,248-6,532) per tonne on Wednesday November 20, do...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets.Unless otherwise stated, all prices are in yuan per tonne on an ex-works basis.The cobalt sulfate, Co 20.5% basis, China ex-works, adjustment to the standard-grade cobalt low-end price is on a $ per lb basis.Fastmarkets prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20....Read More
Turkish steel producers have held back from the deep-sea scrap market for a day and made no bookings, although prices remained steady, sources said on Thursday November 21.The mills booked five deep-sea scrap cargoes last week, totaling 180,000 tonnes, but have now slowed down their purchases. Only two deep-sea cargoes have been booked so far this week, totaling 62,500 tonnes.The main problem for...Read More
The macro-induced downtrend in primary and secondary aluminium prices is a temporary market set-up, according to bullish delegates at Fastmarkets' International Recycled Aluminium Conference in Hamburg on November 12-14. "There is kind of a bearish sentiment that is related to global recessions, dips in the London Metal Exchange three-month aluminium price and Chinese scrap import news," Russian a...Read More
Traders are scrambling to divert their transshipped containerized cargoes of ferrous scrap bound for Indonesia to other destinations and find new supply sources in response to new import restrictions issued last month by the country's trade ministry."I'm working to divert my containerized scrap cargoes to other ports in Asia because the new regulations do not allow transshipment," a trader in East...Read More
Discouraging news from China over the "phase one" trade deal with the United States has led to less risk appetite, which for now is affecting the broader markets more than the metals, which were broadly firmer on Thursday November 21.Asian equities weaker, led by a 1.5% decline in the Hang Seng. US 10-year treasury yields fall as the outlook for a trade deal deteriorates. Base metalsThree-month ba...Read More