Market participants in Asia were taken by surprise this week after price upticks in the bellwether Turkish scrap import market followed the United States' decision to once again double its tariffs on Turkish steel.As a result, Taiwanese buyers have had to pay higher prices for imported containerized cargoes on the back of limited supplies from the US West Coast.However, Vietnamese buyers are...Read More
China granted small additional volumes of ferrous scrap import quotas for the remaining months of 2019 on Friday October 18. The 13th batch of quotas will allow three companies to import another 610 tonnes of ferrous scrap, according to a notice from the China Solid Waste & Chemicals Management Center seen by Fastmarkets. The companies are: Company: Tianjin Yuwei Hongcheng Metals Quota: 100 tonnes...Read More
The London Metal Exchange three-month tin price closed up $275 per tonne at $17,150 per tonne on Thursday October 17 on news that China's Yunnan Tin Co will cease all smelting operations at its Ausmet plant in Gejiu, Yunnan province, on October 21. Yunnan Tin Co, the world's largest tin smelter, produced 78,000 tonnes of refined tin in 2018 and remains the world's largest refined tin producer by s...Read More
The London Metal Exchange three-month nickel price shed 1% from the previous day's close to trade at around $16,285 per tonne during the morning session on Thursday October 17, with the weakness coming despite further drawdowns leaving LME nickel stocks at 88,302 tonnes - the lowest since December 2012. "Nickel has started to fall, on the one hand reflecting the lack of buyers in the physical mark...Read More
The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, traded for the first time on Thursday October 17. Ten lots traded at $284 per tonne for November 2019. There were also two separate trades on the January 2020 contract at $294 per tonne for 10 lots each. The trades concluded between 8:18 and 8:23am London...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday October 17 that are worth another look.Alcoa has launched a multi-year review of its aluminium portfolio, placing roughly half of its global smelting capacity under scrutiny for potential curtailment or closure, the company said in an earnings call with investors on Wednesday October 16.Stronger demand from the energy sector an...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
The London Metal Exchange's cash-settled alumina futures contract, which is settled against a basket of prices that includes Fastmarkets' index, traded for the first time on Thursday October 17. Ten lots traded at $284 per tonne for November 2019. There were also two separate trades on the January 2020 contract at $294 per tonne for 10 lots each. The trades concluded between 8:18 and 8:23am London...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Turkish steel producers restarted their deep-sea scrap bookings for November shipments at slightly higher prices, sources said on Thursday October 17.A steel mill in the Iskenderun region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $242 per tonne and 5,000 tonnes of bonus at $252 per tonne cfr.The previous Baltic Sea cargo reported by Fastmarkets was sold at $237 per...Read More
British ferro-alloys producer FE Mottram, the biggest producer of ferro-titanium in Europe, has restarted production after a fire damaged its plant in April, according to an industry source. The company had intended to restart production in the third quarter of this year. FE Mottram, which is owned by Belgium-based ferro-alloys and metals trader Metraco, stopped production at its plant in She...Read More
Turkish steel mills continued to stay away from the deep-sea scrap markets awaiting clarity in the finished steel markets, sources said on Wednesday October 16.Late on Monday October 14, US president Donald Trump said he would impose a 50% tariff on imports of steel from Turkey in response to its military actions in Syria.Following the news, Turkish steel mills suspended their bookings o...Read More
Mining corporation Barrick is eyeing potential alternative processors for concentrates produced at its Lumwana copper mine in Zambia while it waits for a third-party smelter to resume operations after a major refurbishment.The refurbishment was to one of the third-party smelters that processes a portion of the copper concentrate produced at Lumwana. It was expected to be completed by the end of th...Read More
Tensions between the United States and China have risen again after the US House of Representatives passed an act to support Hong Kong protestors - this is unlikely to help trade negotiations and therefore is another headwind for the markets.International Monetary Fund (IMF) warns global growth could fall to levels last seen during the 2008 financial crisis.A Brexit deal may be on the cards, expec...Read More
Key data from the Wednesday October 16 pricing session in Shanghai. Key drivers The price for cobalt metal in China's domestic market edged down this week amid caution from spot buyers following a slump in local futures prices. But persistent tightness for certain domestic brands of the blue metal limited the price decline. In battery raw materials,...Read More
Fastmarkets welcomed leading players from the world's battery makers as well as producers of raw materials to its first European battery event, held in Amsterdam, for insight and discussion on the anticipated surging growth in the market. This PDF includes all the vital market intelligence from Fastmarkets' inaugural European battery materials event. Click on the image below to view the PDF. Read More
Domestic prices for cold-rolled coil (CRC) in the EU have decreased over the past week due to low levels of market activity, sources told Fastmarkets on Thursday October 17."Demand is low and the outlook is gloomy because there are no signs that demand or prices will recover any time soon," a European trader said.In addition, prices for hot-rolled coil, the material used as feedstock for CRC produ...Read More
Demand for passenger cars in Europe jumped by 14.48% year on year in September 2019, the European Automotive Manufacturers Association (ACEA) said on October 16.New car sales in Europe totalled 1,249,403 vehicles in September this year, compared with 1,091,390 units sold in the corresponding month of 2018."To a large extent, this strong year-on-year growth is the result of a low base [for the...Read More
Stronger demand from the energy sector and additional government spending on infrastructure will provide a boost to steel plate prices in Asia next year, a source close to a leading Japanese steelmaker told Fastmarkets this week.The headwinds experienced in the region this year, such as the weak construction sector in Singapore and political uncertainty in Indonesia, were expected to ease, the sou...Read More