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
Prices in Southeast Asia's steel billet market declined slightly during the week to Friday October 25 despite a recovery in ferrous scrap prices amid an ample supply of Indian and Japanese billets.Scrap prices in the bellwether Turkish market, the world's largest import of steel scrap, have recovered since hitting a year to date trough of $218.98 per tonne on October 1.During the week to Friday, t...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
The inter-merchant spot market for UK-origin light iron scrap was unchanged in the week ended Friday October 25, extending a steady run of prices into a fourth week in line with domestic demand and a pick-up in European steel scrap export prices this month.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($77-103) per tonne on F...Read More
Prices of ferrous scrap imported into India have risen for the third consecutive week following a spike in trading activity ahead of the forthcoming Diwali holiday in the country, sources told Fastmarkets on Friday October 25.Fastmarkets' calculation of the steel scrap, shredded, index, import, cfr Nhava Sheva, India, was $268.23 per tonne on Friday, up from $261.17 per tonne on Friday one week ag...Read More
Turkish steel mills resumed their deep-sea scrap purchases at the end of this week, paying slightly higher prices, sources told Fastmarkets on Friday October 25.A steel producer in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (90:10) and 20,000 tonnes of shredded at an average price of $256 per tonne cfr. The price of shredded...Read More
Seaborne iron ore prices rose slightly on Friday October 25 afterenvironmental restrictions in Tangshan were lifted, which could spur some iron ore demand.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $87.98 per tonne, up $0.64 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.80 per tonne, up $0.64 per tonne.62% Fe low-alumina fines, cfr Qingdao: $86.65 per tonne, up...Read More
Seaborne coking coal prices dropped on Friday October 25 to the surprise of some participants following several weeks of robust buying activity from China.Fastmarkets indicesPremium hard coking coal, fob DBCT: $146.40 per tonne, down $6 per tonnePremium hard coking coal, cfr Jingtang: $161.53 per tonne, down $2.54 per tonneHard coking coal, fob DBCT: $129.36 per tonne, down $0.69 per tonne.Hard co...Read More
Taiwanese spot import prices for containerized HMS1&2(80:20)may break past $240 per tonne cfr soon given the bullish sentiment in other key spot markets, market sources told Fastmarkets.Prices in the benchmark market have risen continually this week on the back of surges in global scrap prices, which was caused largely by higher prices in the key Turkey market.Vietnamese buyers have turned partial...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
China's domestic hot-rolled coil prices remained largely stable on Friday October 25 on steady demand, though market participants have a bearish outlook for the longer term.DomesticEastern China (Shanghai): 3,500-3,520 yuan ($495-498) per tonne, unchangedNorthern China (Tangshan): 3,500 yuan per tonne, narrowing upward by 10 yuan per tonneTrading activity remained moderate in Shanghai, while that...Read More
Base metals prices on the London Metal Exchange were little changed on Friday October 25 despite continued drawdowns of LME stocks.The benchmark three-month copper price was unchanged from Thursday's close at $5,887 per tonne. On-warrant copper stocks continue to decline and are keeping the price well supported.A further 4,225 tonnes were delivered out of LME warehouses this morning following a 10...Read More
Despite ending 2018 as the best performer among the base metals after being the worst in the previous year, London Metal Exchange tin has entered the fourth quarter of 2019 as the laggard.The metal's three-month price on the exchange has fallen by more than 18% since the start of the year, when the price came near to $20,000 per tonne. At the same time, open interest on the exchange has also trend...Read More
China's domestic rebar prices were largely flat on Friday October 25, while billet and futures both moved up.Eastern China (Shanghai): 3,580-3,610 yuan ($507-511) per tonne, unchangedNorthern China (Beijing): 3,550-3,600 yuan per tonne, widened upward by 10 yuan per tonneRebar futures rose after a data release on Thursday showed a sharp drop in inventories, sources said. Prices in the spot market...Read More
Key data from the October 25 pricing session in London. Key drivers- Sellers undercut previous offers in thin trading, in order to lock in business, while a greater focus is placed on contract negotiations for 2020. Some traders opt to lock in a profit, with prices at their highest since...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
An overview of the Chinese minor metals markets and the reasons for their latest price moves.Read More
Glencore increased its cobalt production in the first nine months of the year by 21% largely due to ramping up its Katanga project, the trader miner announced on Friday October 25. Year-to-date cobalt production hit 34,400 tonnes, up from 28,500 tonnes in the same period of 2018. Production at the copper department was 31,500 tonnes, up 23% year on year, while the nickel department production 2,90...Read More
Austenitic alloy steel scrap prices widened downwards this week because of ongoing poor demand and, in the case of grade-316 material, lower molybdenum costs during October, sources told Fastmarkets on Friday October 25. Fastmarkets' price assessment for stainless steel scrap 316 solids, domestic, delivered merchants UK, was ?1,250-1,350 ($1,610-1,739) per tonne on October 25, down by ?40 per to...Read More
* Lead touches 15-month peak * Copper hits highest in more than a month * GRAPHIC-2019 asset returns: (Updates with closing prices) By Eric Onstad LONDON, Oct 25 (Reuters) - Zinc prices rose on Friday asLondon Metal Exchange inventories touched the lowest level in 12years, though analysts said the higher prices failed to reflectlarge amounts of hidden stock. Inventories in LME-registered warehouse...Read More