Chilean copper production grew by 1.2% year-on-year in September, as higher output from state-owned Codelco offset a drop from Escondida and Collahuasi, the country's copper commission, Cochilco, said on Thursday November 7.Total production reached 483,800 tonnes of copper content during September, up from 478,200 tonnes a year earlier.Output during the January-September period came to 4.24 millio...Read More
Stagnant tin prices could be set to climb after a bridge collapsed on a key route to Alphamin Resources' Bisie tin mine in the Democratic Republic of the Congo, Central Africa.The Mauritius-based mining company confirmed this week that the Maiko Bridge at Lubutu - on a key route to the Bisie tin mine in the Walikale territory of DRC - collapsed on October 30, some 53 kilometers sout...Read More
Miner-smelter Nyrstar has begun the final stages of a planned restart to its Port Pirie lead smelter in Australia, with the first feed in its top submerged lance (TSL) furnace expected later this week, it said on Monday November 11. The smelter will be restarting 13 weeks after the company announced a "forced shutdown" on August 9 caused by an incident at the hearth in the primary smelter that req...Read More
The three-month nickel price on the London Metal Exchange recorded a sharp sell-off during morning trading on Monday November 11 on mounting fears that progress in a US-China trade deal could stall. Concerns that the trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampe...Read More
Concerns that China-United States trade talks are not progressing as smoothly as hoped, with US President Donald Trump saying late last week that he had not agreed to roll back tariffs on imports from China, has dampened sentiment in the metals.That said, US equities went on to brush off the news with markets closing at record highs again on Friday November 8. Gold prices break below support as US...Read More
With the exception of those for tin and zinc, base metals prices on the Shanghai Futures Exchange were mostly lower during the morning trading session on Monday November 11.The subdued performance by the base metals comes after United States President Donald Trump told reporters at the end of last week that China was pushing for the removal of some tariffs as part of an agreement, but he said a "c...Read More
Special bar quality (SBQ) steel prices in the United States moved sideways across cold-finished and hot-rolled grades this month despite higher ferrous scrap prices due to reports of discounting and overall weak demand.Fastmarkets' price assessment for steel bar hot-rolled special bar quality (SBQ) 1-inch round 1000 series (carbon), fob mill US stood at $34 per hundredweight ($680 per ton) on Frid...Read More
Steel plate prices in the United States dropped further during the week to Friday November 8, but the market might have found a bottom after more domestic mills joined efforts to raise pricing, some market participants said. Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill USwas at $30 per hundredweight ($600 per short ton) on Friday November 8, down by 1.6% from...Read More
The strength of December's ferrous scrap trade in the United States is in debate, with mills seeing potential for only a limited upside while sellers believe a repeat of November's increase may be necessary to reinvigorate scrap flows.One mill buyer said that he expects the market to increase by a modest $10 per gross ton in December because the last month of the year is not known for strong deman...Read More
Turkish steel producers have booked more deep-sea cargoes for December delivery and prices have remained firm, sources told Fastmarkets on Monday November 11.Five deep-sea cargoes, totaling around 160,000 tonnes, were heard at the start of the week.A steel mill in northern Turkey booked a European cargo comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $...Read More
Turkish domestic scrap prices have continued to climb over the past week under the influence of rising imported scrap values, sources said on Monday November 11.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,455-1,560 ($252-270) per tonne on Monday, up from the TRY1,400-1,555 per tonne of last week.The steel producers and a major scrap...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials....Read More
Seaborne coking coal prices displayed no clear trend on Monday November 11, though some market participants in China have reported an emergence of offers for November-loading cargoes despite it being close to the middle of the month.Fastmarkets indicesPremium hard coking coal, fob DBCT: $134.77 per tonne, up $1.53 per tonnePremium hard coking coal, cfr Jingtang: $145.02 per tonne, down $1.10 per t...Read More
Seaborne iron ore concentrate and pellet prices outperformed those for fines last week amid a weakening market.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao was at $95 per tonne last Friday November 8, down $1.09 from a week earlier.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qingdao averaged $92.30 per tonne last week, down $2.45 pe...Read More
Fastmarkets is proposing to change the publication day for its weekly Shanxi-origin, Tangshan-delivered domestic China coking coal price from every Friday to every Monday.The change, subject to market feedback, will be effective from Monday December 2.The specifications of the price remain unchanged:Price: Hard coking coal domestic China spot market, Shanxi-origin, delivered Tangshan, yuan/tonne Q...Read More
China's hot-rolled coil prices dipped further on Monday November 11 amid a weakening of demand, particularly in the eastern region.DomesticEastern China (Shanghai): 3,510-3,520 yuan ($502-503) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,510 yuan per tonne, down 10 yuan per tonneA Shanghai-based trader said demand in the city had softened, which sapped trading volumes as well a...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers The antimony, MMTA standard grade II, ddp China price fell for the first time since the end of August, which was just before the price started trending upward in response to the successful auction of stocks held by the defunct Fanya Metal Exchange in early September. Some supp...Read More
Key data from the pricing sessions in Asia and Europe in the week to Friday November 8. China Key drivers Chinese silicon export market continued to gain upward momentum for the third consecutive week in response to supply tightness in the domestic market after southern Chinese refiners halted their operations due to a lack of cheap hydroelectric power during dry season which typically lasts...Read More
Still hostage to trade talk news News flow regarding progress, or lack thereof, in US-China trade negotiations continues to determine the mood in the base metals and remains the main source of week-to-week volatility. Aluminium: Consolidating after short-covering Following a strong week of price gains last week, aluminium has moved into consolidation mode after finding technical resistance and aft...Read More
LME aluminium price up 3.9% week-on-week The LME aluminium price spent most of last week trading above the $1,800 per tonne mark with the weekly average of $1,813 per tonne up 3.9% from the previous week's level. The risk-on mood stemmed from the expectation of an imminent “phase one” US-China trade deal being struck. But on Monday this week, aluminium traded back below $1,800 per tonne,...Read More