The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transactions: iron oreIron oreRio Tinto, tender, 170,000 tonnes of 61% Fe Pilbara Blend fines, sold at $92.71 per tonne cfr China, laycan November 5-14.Rio Tinto, bilateral sale, 70,000 tonnes of Pilbara Blend lump, sold at the...Read More
Transaction prices for premium mid-vol coking coal from Australia jumped on Thursday October 10, compared with pre-Golden Week levels, leaving some market participants surprised.Fastmarkets indicesPremium hard coking coal, fob DBCT: $145.39 per tonne, down $0.98 per tonnePremium hard coking coal, cfr Jingtang: $159.50 per tonne, down $0.22 per tonne Hard coking coal, fob DBCT: $123....Read More
New customs declaration procedures could be put in place by European Union member states if the United Kingdom ultimately leaves the bloc with no agreement in place (a "no-deal Brexit"), an industry association told Fastmarkets this week.This would cause months of congestion affecting UK-origin scrap cargoes although no long-term disruption was expected for the UK's metals recycling sector, worth...Read More
The world's largest low-grade iron ore producer has confirmed that it will bid for two blocks at what is considered the world's largest untapped high-grade ore resource, a move that reiterates what the industry has been saying over the past few years - that demand for green iron ore or high-grade ore is a structural change in the making."Following the release of information at a public meeting hel...Read More
The three-month nickel price on the London Metal Exchange pushed up during morning trading on Thursday October 10, climbing by nearly 2% amid an ongoing drawdown of LME inventories. Nickel's outright price was recently trading at $17,620 per tonne, appreciating by around $285 per tonne with just over 1,800 lots exchanged as of 9:10am London time.LME nickel stocks now sit at 102,696 tonnes in total...Read More
Base metals prices on the Shanghai Futures Exchange exhibited mixed moves but were largely little changed during the morning trading session on Thursday October 10, with market participants digesting conflicting trade headlines.As has been the case for much of this week, the base metals seem content to drift while they await direction from high-level trade talks between China and the United States...Read More
Coal industry billionaire Hans Mende joined the board of Jupiter Mines on Wednesday October 9 as a non-executive director, the Australian Stock Exchange-listed mining company has announced.Mende is co-founder and executive chairman of AMCI Group, a substantial shareholder...Read More
China's domestic stainless steel prices increased slightly this week on a spike in restocking demand following a national holiday in the country on October 1-7.Fastmarkets' price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 15,800-16,100 yuan ($2,214-2,256) per tonne including value-added tax for the week ended Wedne...Read More
There is some cautious optimism over United States-China trade negotiations after US President Donald Trump described the talks as “very, very good” and said he would meet Chinese Vice Premier Liu He in the White House on Friday October 11.But, we have been here before so it is probably best not to anticipate too much - indeed, with the base metals generally rangebound this morning that...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 29 points in pre-opening trade. Futures advanced on news that U.S./China trade negotiations are continuing.Apple is expected to lead the advance in U.S. equity markets at the opening. The stock is scheduled to open above its all-time high at $232.07.The Canadian Dollar added 0.26 to U.S. 75.54 following release of Cana...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Wednesday October 9, remaining below the $5,700 per tonne resistance level amid thin volumes, while forward spreads in nickel tightened over the afternoon.Copper's outright price closed at $5,684 per tonne in the afternoon, keeping below nearby resistance while volumes traded were moderately low at just...Read More
The alumina index on a fob Australia basis is down by 3.4% week on week and below $280 per tonne for the first time since May 2017. Fastmarkets' daily alumina index, fob Australia fell to $279.29 per tonne on Wednesday October 9, from $280.64 per tonne the previous day and from $289.53 per tonne on October 2. The index is now down 29.5% from the start of the 2019. Key drivers: The...Read More
The US tin premium experienced an uptick for the first time in six weeks on Tuesday October 8, while Europe and China premiums remained stable. Falling supply prompts US premium uptick European market eyes long-term contract negotiations China's absence for National Day holiday limits Asian tin premiumsUS tin premium tick up The tin premium ticked up in the United States. This reflected reduced do...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday October 9 that are worth another look.China, the world's biggest steelmaker, is considering importing hot-rolled coil on possible arbitrage opportunities with Russia and Iran, Fastmarkets understands. The alumina index on a fob Australia basis fell by 3.4% week on week, moving below $280 per tonne for the first time...Read More
The alumina index on a fob Australia basis is down by 3.4% week on week and below $280 per tonne for the first time since May 2017. Fastmarkets' daily alumina index, fob Australia fell to $279.29 per tonne on Wednesday October 9, from $280.64 per tonne the previous day and from $289.53 per tonne on October 2. The index is now down 29.5% from the start of the 2019. Key drivers: The...Read More
Tharisa slightly increased its chrome concentrate production in the three months to September 30, the South African chrome and platinum group metals (PGM) miner said on Wednesday October 9. Total chrome concentrate production of 341,900 tonnes in the three-month period, Tharisa's financial fourth quarter of 2019, was up by 2.4% from the previous three months and flat against the corresponding quar...Read More
An overview of the minor metals markets and their latest price moves.Read More
Fastmarkets is initiating a consultation on a proposed increase in the frequency of its benchmark prices for cobalt standard grade and cobalt alloy grade, in whs Rotterdam, to daily. Fastmarkets currently assesses both prices on Wednesday and Friday each week.Initial feedback suggests that daily pricing would be more responsive to price moves in the cobalt market, notably during times of volatilit...Read More
Turkish steel producers resumed booking deep-sea scrap for November shipment after a short break, sources said on Wednesday October 9, although prices have now increased compared with previous bookings due to a lack of supply.One Turkish steel producer booked a scrap cargo from the United States, comprising 23,000 tonnes of HMS 1&2 (80:20) at $233 per tonne and 17,000 tonnes of shredded at $2...Read More
Markets are treading water this morning, Wednesday October 9, ahead of the United States-China trade talks that are being held on Thursday and Friday. Ahead of the negotiations, optimism for a trade deal between the two is fading while rhetoric rises, but that may just be gamesmanship.The International Monetary Fund (IMF) is expected to downwardly revise its growth projections for this year and th...Read More