Fastmarkets MB will from next month display in the Price Book calculated price midpoints and averages that are rounded to two decimal places.This will ensure consistency of published values across all of Fastmarkets MB's delivery channels.Where Fastmarkets MB publishes prices as a low-high range, users have the option to view the calculated midpoint of that range. From Monday December 9, Fastmarke...Read More
The Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao crossed the $95-per-tonne mark for the first time since October 25 on Thursday November 14.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $83.42 per tonne, up $2.39 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $83.45 per tonne, up $2.39 per tonne.62% Fe low-alumina fines, cfr Qingdao: $82.92 per tonne, up...Read More
An informal suspension of coal imports at ports in the eastern Chinese province of Jiangsu province and some parts of southern China has raised uncertainties in the seaborne coking coal market, though the country's downstream steel market strengthened on Thursday November 14.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.53 per tonne, down $0.88 per tonnePremium hard coking coal, cfr...Read More
China's annual scrap consumption could reach 330 million tonnes by 2030 and account for up to half of the country's steel output, according to the China Association of Metal Scrap Utilization (Camu)."China continues to maintain its course of expanding the usage of ferrous scrap in steelmaking, as part of its aim to reduce pollution. Using ferrous scrap can reduce 1.6 tonnes of carbon emissions for...Read More
Cobalt briquettes produced by the Ambatovy joint venture in Madagascar have been approved by the London Metal Exchange for delivery against its physically-settled cobalt contract. Ambatovy's application was supported by LME category 5 member Gerli Metalli SpA, and approved on Tuesday November 12, the former said today. The LME suspended brand-listing...Read More
Chinese stainless steel prices plunged over the past week, tracking losses experienced by nickel futures on the London Metal Exchange.The three-month nickel contract on the LME ended Wednesday November 13's trading session at $15,515-15,520 per tonne, down $810 per tonne from a week earlier. The contract on Monday fell below $16,000 per tonne for the first time since late August. Since that day, i...Read More
China's rebar prices rose further on Thursday November 14 following the release of statistics showing a surge in construction starts in the first 10 months of the year.DomesticEastern China (Shanghai): 3,830-3,860 yuan ($546-550) per tonne, up 30-50 yuan per tonneNorthern China (Beijing): 3,680-3,690 yuan per tonne, up 20-40 yuan per tonneTrading was robust, especially in eastern China, after the...Read More
China's hot-rolled coil market maintained its upward trajectory on Thursday November 14 amid a drop in inventory levels.DomesticEastern China (Shanghai): 3,580-3,590 yuan ($510-511) per tonne, up 30 yuan per tonneNorthern China (Tangshan): 3,560 yuan per tonne, up 20-30 yuan per tonneNews of declining inventories improved sentiment, which stimulated trading.A domestic steel consultancy reported th...Read More
China exported just 1.9 tonnes of unwrought indium in September compared with 23.6 tonnes in September 2018, according to the latest Chinese customs data. Shipments of the minor metal fell by 91.9% from last year and 69.8% month on month. In August 2018, China exported 6.3 tonnes of unwrought indium. Macroeconomic uncertainty owing to the protracted trade war between the United States...Read More
While the ferro-alloys industry prepares to gather in Budapest for the annual International Ferro-alloys conference on November 17-19, Fastmarkets looks at the key price moves since last year's conference. An overall bearish mood has prevailed in most of the ferro-alloys and related markets for most of the year amid oversupply and weakening demand. Some prices are now trading at multi-year lows in...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 MB prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co...Read More
There are cross currents flowing through broader markets, risk-on is still evident in equities with another record close for the S&P500, base metals are generally pulling back in countertrend moves from the stronger tone seen in October and early November and there is some nervousness around judging by the pick-up in demand for havens in recent days.Federal Reserve painted an upbeat picture of the...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. Index futures responded to news that a China/U.S. trade deal is close.Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for the November Empire State Manufacturing Survey was an increase to 5.0 from 4.0 in October. Actual was 2.9. Consensu...Read More
Mike Henry has been named chief executive officer and executive director of BHP, effective from January 1, 2020.Henry will succeed Andrew Mackenzie, who retires as CEO on December 31, the Australian miner said early on Thursday November 14.Henry has served as...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 13.Please click...Read More
The three-month zinc price on the London Metal Exchange continued its sell-off at the close of trading on Wednesday November 13, recording moderate turnover, while tin's outright price teased a break below nearby support.Zinc futures on the LME closed at $2,422 per tonne on Wednesday, the lowest closing price for the metal since October 16. Turnover was broadly average at just over 7,400 lots exch...Read More
A cutback in chrome ore production is needed to rebalance the surplus affecting the ferro-chrome supply chain, delegates claimed at this week's ICDA Chromium 2019 conference in New Delhi, India.Following prolonged weakness in the metallurgical chrome ore and ferro-chrome markets this year, a number of participants have reduced their FeCr output in recent months, in an attempt to contain the amount...Read More
Chinese copper smelters will continue to lead benchmark copper concentrate negotiations despite approaching Japan's Pan Pacific Copper (PPC) to negotiate the annual deal from a stronger position, sources said. During late-October's LME Week, talk emerged that Chinese smelters would accept an agreement set by PPC, Asia's largest copper smelter outside China, if it settled a number earlier than duri...Read More
Prices for seaborne low-grade and high-grade manganese ore were on divergent paths in the week ended Friday November 8, with the former continuing to trend downward on persistently weak market sentiment while the latter experienced a slight rebound following a number of large-volume deals.Fastmarkets' manganese ore index 37% Mn, cif Tianjin dropped by 10 cents week on week to $3.25 per dry metric...Read More
An overview of the minor metals markets and their latest price moves.Read More