Prices in the major global billet markets continued to show positive dynamics in the week ended Friday October 25, after CIS producers increased offers by $5-10 per tonne week on week due to reduced availability of the material.Among other supportive factors were increased demand from Turkish customers as well as higher scrap offers from the United States."Supplies in the CIS region fell...Read More
The premium for aluminium billet in the United States fell to a record low on Friday October 25 due to to continued sluggish demand, while premiums in Europe and Brazil remained under pressure. US premium at record low European traders holding onto $300 per tonne level Low spot demand in Brazil Thailand premium fallsUS billet premium drops to all-time lowFastmarkets' aluminium 6063 extrusion bill...Read More
Fastmarkets proposes to increase the frequency of the normalization price data for its seaborne manganese ore indices to monthly from quarterly.Currently, Fastmarkets updates the normalization of its manganese ore price data - for manganese ore 37% Mn, fob Port Elizabeth, $/dmtu; manganese ore 37% Mn, cif Tianjin, $/dmtu and manganese ore 44% Mn, cif Tianjin, $/dmtu - on a quar...Read More
Here are five Fastmarkets MB stories you might have missed on Friday October 25 that are worth another look.The London Metal Exchange has set out its requirements for responsible sourcing, outlining three routes to compliance, it said on Friday October 25. The requirements will be underpinned by the Organization for Economic Cooperation and Development's due diligence guidance.A group of metals an...Read More
Here are five Fastmarkets MB stories you might have missed on Friday October 25 that are worth another look.The London Metal Exchange has set out its requirements for responsible sourcing, outlining three routes to compliance, it said on Friday October 25. The requirements will be underpinned by the Organization for Economic Cooperation and Development's due diligence guidance.A group of metals an...Read More
Activity at Vale's On??a Puma nickel unit in the Brazilian northern state of Par?? will ramp up throughout November following a favorable judicial ruling allowing it to reopen, the company's chief of base metals operations, Mark Travers, said.The smelter at the site has been running as normal using stocked nickel ore, Travers added in a conference call on Friday October 25 to discuss the company's...Read More
U.S. equity index futures were higher overnight. S&P 500 futures were up 9 points in pre-opening trade. The Index is scheduled to open above its previous inter-day all-time high at 3,027.98.Microsoft added $3.37 to an all-time high at $144.10 after winning the JEDI contract from the U.S. Defense Department worth $10 billion. Tiffany jumped $31.46 to $130.00 after receiving a proposed takeover...Read More
A group of metals and mining companies including Glencore and Anglo American have joined forces with the World Economic Forum to explore the use of blockchain technology to accelerate responsible sourcing of raw materials. The Mining and Metals Blockchain Initiative will explore the building of a blockchain platform to address transparency, the track and tracing of materials, the reporting of carb...Read More
A declining rebar market in China coupled with elevated prices for scrap have put a squeeze to the profit margins of electric-arc furnace operators in the country since September.Amid a pessimistic outlook for demand and prices, market participants are expecting these EAF operators - which account for close to a third of the supply of the long steel product in China - to cut their output soon.EAF...Read More
Vale saw its adjusted earnings grow by 6.4% year on year in the third quarter amid higher prices and lower expenses related to the Brumadinho tailings dam disaster early this year.The Brazilian miner's adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the July-September period totaled $4.60 billion, which compares with $4.33 billion a year earlier.Vale's reported...Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Electric vehicles (EVs) are forecast to reach cost and functional parity with internal combustion engine (ICE) vehicles by 2025. Theoretically, this should create the global tipping point for mass market EV adoption, along with the development of the associated charging infrastructure required to accompany the growth.In practice, it is not quite as straightforward.A recent report by investment res...Read More
Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday October 25, settling above the $5,900 per tonne level for the first time since September amid thin turnover, while zinc futures similarly closed higher. Copper's outright price closed at $5,925 per tonne on Friday, climbing by around 1.2% from its intraday low of $5,862 per tonne and settling at...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The widening arbitrage loss and low buying interest weighed on the Shanghai copper cathode premiums in the week ended Friday October 25. Fastmarkets' copper grade A cathode premium, cif Shanghai fell to $68-80 per tonne on Friday, down by $2 from $70-82 per tonne on Thursday and the second straight day of decline. Market participants pointed to a widening arbitrage loss and low buying interes...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 25.China The seaborne manganese ore prices in China continued to fall amid aggressive offer prices and persistently weak market sentiment. Higher grade offer prices fell but liquidity was light indicating many buyers anticipated the market would soften further. Port-side manganes...Read More