Fastmarkets has corrected three errors in its iron ore index historical prices in its newsletter alert and in the Excel file on the MB Iron Ore Index website. The correct values on these occasions were those published in the Fastmarkets Price Book and distributed via the Excel Add-In.In the course of consolidating our databases, Fastmarkets identified three instances of mismatched prices between t...Read More
Export pig iron prices from the Commonwealth of Independent States increased this week on the resumption of sales to key markets, with buyers accepting higher prices due to shortages of the steelmaking raw material. Fastmarkets' weekly price assessment for high-manganese pig iron, export, fob main port Black Sea, CIS, was $283-287 per tonne on October 24, increasing from $270-280 per tonne fob. CI...Read More
Turkish steel producers have remained out of the deep-sea scrap import markets as most of them are fully booked for November shipment cargoes, sources said on Thursday October 24.Steel mills in Turkey have booked at least 16 cargoes, totaling 500,000 tonnes of scrap so far in October and went quiet at the end of last week."Most of the mills have booked sufficient deep-sea scrap for November shipme...Read More
After spending most of the day rangebound, seaborne iron ore prices again edged up on Thursday October 24, despite limited activity in the market.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.34 per tonne, up $0.16 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.16 per tonne, up $0.16 per tonne.62% Fe low-alumina fines, cfr Qingdao: $85.96 per tonne, up $0.30 per...Read More
One of the largest producers of metallurgical coal expects rising steelmaking capacity in India and Southeast Asia as well as constraints on investments in steelmaking coal capacity to be the long-term drivers of the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $152.40 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $164.07 per tonne, unchangedHard coking coal, fob DBC...Read More
The three-month nickel price on the London Metal Exchange was higher during morning trading on Thursday October 24, climbing just under 1% amid moderate turnover, while a similar uptick in zinc saw the galvanizing metal close in on nearby resistance levels. Nickel's futures price was recently seen at $16,775 per tonne, while just under 2,500 lots were exchanged as of 9:45am London time. Supporting...Read More
Declining nickel prices on the London Metal Exchange put China's stainless steel market under pressure over the past week.The three-month nickel contract on the exchange ended Wednesday October 24's trading session at $16,420-16,425 per tonne, down $510-515 per tonne from a week earlier.The contract price is also $2,030-2,050 per tonne lower compared with September 2's five-year high of $18,450-18...Read More
With the exception of tin, base metals prices on the Shanghai Futures Exchange were up during the morning trading session on Thursday October 24.As was the case on Wednesday, nickel led the charge higher. The most-traded December nickel contract on the SHFE climbed to 131,900 yuan ($18,644) per tonne as at 10.08am Shanghai time, up by 1,930 - or 1.5% - from Wednesday's close of 129,970 yuan per to...Read More
Data insights, analysis and key market themes dominating discussions in the antimony market ahead of annual negotiations during LME Week 2019.See also:FOCUS: Fanya auctions give momentum to minor metals prices after years of overhangChina Minmetals wins auction for entire Fanya antimony stock for $76mln SPMP's Oman project produces first antimony metal after multiple delaysFOCUS: Five factors...Read More
Key data from the Wednesday October 23 pricing session in Shanghai. Key drivers Chinese cobalt metal price softens on slow spot activity, while tight supply of certain domestic brands has eased amid profit-taking.The cobalt tetroxide price in China was unchanged, though lower offers emerged after prices for downstream lithium cobalt oxide (LCO) battery materials...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade.Amazon dropped $107.98 to $1672.80 after reporting lower than consensus third quarter earnings.Intel gained $1.90 to $54.13 after reporting higher than consensus third quarter revenues and earnings. JP Morgan raised its target price to $68 from $64.Verizon added $0.67 to $61.25 after reportin...Read More
The three-month copper price on the London Metal Exchange rose to its highest level in more than a month at the close of trading on Wednesday October 23 amid positive forward spreads, while tin futures underperformed in a 2% decline over the afternoon. Copper's three-month price closed at $5,881 per tonne this afternoon, its highest level since September 13, with just over 16,000 lots of metal exc...Read More
Buyers in all regions stayed on the sidelines in the week to Tuesday October 22 amid London Metal Exchange nickel price and spread volatility. European market sees little spot trade on weak demand. US nickel premiums flat, with scrap substitution dampening primary metal demand. Asian nickel remains at a discount versus a premium. Brief contango fails to tempt European buyers Rotterdam...Read More
The Southeast Asian lead premium rose by 4.2% week on week on increased spot interest, with market participants suggesting an uptick in automotive sales as a key tailwind; meanwhile, global zinc premiums were unchanged amid stagnant spot demand and tight forward spreads. Southeast Asian lead premium rises on renewed buyer interest US, Asian zinc premiums flat on low spot interests Eur...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 23 that are worth another look.Taseko Mines Limited is in the process of seeking a listing on the Main Market of the London Stock Exchange (LSE), with approval anticipated prior to the end of 2019.Chilean iron ore and long steel producer Compa???-a de Acero de Pac?-fico (CAP) was forced to reduce production from some o...Read More
Two of Codelco's divisions are operating at minimum rates or have been completely halted due to a general strike in Chile, the state-owned copper producer said on Wednesday October 23.Trade federations representing workers of both the state-run producer and private copper companies decided to join a nation-wide standstill in response to governmental measures taken to counter violent demonstra...Read More
The global refined copper balance will switch from a deficit this year to a surplus next year on an expansion in Chinese refining capacity and a slowdown in global economic growth, the International Copper Study Group (ICSG) said on Wednesday October 23.The world is forecast to produce 25.3 million tonnes of refined copper next year, up 4.2% from this year's expected global output, the group said&...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 23. Key drivers Ferro-titanium market stability extended for a third week despite only low volumes reported sold. Only one truckload of ferro-titanium was reported being sold at $4.50 per kg delivered, duty-paid. Alloy suppliers are looking to start negotiations for deliveries on longer-term agreements as s...Read More