The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Friday October 4, settling at its highest level in 13 months despite low turnover, while nickel continued to trend higher over the afternoon.Lead futures closed at $2,160 per tonne on Friday, gaining by 1.6% over the afternoon while some 3,200 lots were exchanged by the close, lower tha...Read More
The price of stainless steel sheet in Europe was unchanged this week because low demand had prevented mills from implementing higher monthly alloy surcharges for October, sources told Fastmarkets on Friday October 4.Although not all major mills have yet announced their October surcharges, others have done so, with increases of ?,?150-170 ($164-186) per tonne from September levels, with respect to...Read More
The CIS export billet market started to show signs of a rebound by the end of the first week of this month, with producers unwilling to cut prices any further because they were on the verge of making losses, Fastmarkets heard on Friday October 4.Some mills have already announced that they plan to stop, or to continue to idle, some of their capacities because of the market conditions.In particular,...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
The whole battery supply chain will benefit from lithium benchmark pricing, Fastmarkets head of battery raw materials research William Adams says as he explores what is driving auto manufacturers to support this pricing mechanism. The auto industry is going through a period of unprecedented change due to companies introducing electric vehicles (EV) into their portfolios alongside internal combusti...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
The complexities of international iron ore supply and Chinese steel mill demand have encouraged market participants to increase use of derivative contracts. As the one-year anniversary approaches of the launch of Singapore Exchange's (SGX) 65% Fe iron ore derivative contract, it is clear that the contract is fulfilling its purpose of providing the market with a seamless price risk management tool....Read More
Chinese spot copper premiums hit 10-month highs in September, but market participants doubt the uptrend can last and expect a drop in the annual benchmark premium for 2020. Fastmarkets' copper grade A cathode premium, cif Shanghai reached a peak of $65-82 per tonne on September 5 during the Antaike conference in the Chinese city of Qiqihar, the highest since November 2018. The premium stood at $65...Read More
Low refined nickel stocks and a looming ban on exports of nickel ore from Indonesia are two factors creating a bullish nickel market, according to participants at the seventh Asian Nickel Conference held in Jakarta in mid-September. Low refined nickel stocks at exchange-listed warehouses and the unlikelihood that huge amounts of nickel ore will be stockpiled at Chinese ports ahead of a ban on expo...Read More
The three-month price of lead on the London Metal Exchange was the standout performer at the close of trading on Friday October 4, settling at its highest level in 13 months despite low turnover, while nickel continued to trend higher over the afternoon.Lead futures closed at $2,160 per tonne on Friday, gaining by 1.6% over the afternoon while some 3,200 lots were exchanged by the close, lower tha...Read More
Trading activity in the seaborne coking coal market remained muted on Friday October 4, the fourth day of China's Golden Week to mark its 70th National Day.Premium hard coking coal, fob DBCT: $146.08 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $159.70 per tonne, unchanged Hard coking coal, fob DBCT: $123.13 per tonne, unchangedHard coking coal, cfr...Read More
A very simplistic summary of the LME's approach to responsible sourcing is that it uses the Organization for Economic Co-operation & Development(OECD) red flag scheme and a phased introduction of transparency, but Matthew Chamberlain is keen to explain the "two big philosophical pillars behind it."The first is about establishing the LME's role in delivering responsible sourcing. "There are some in...Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The recovery seen earlier this week in Turkish deep-sea scrap import prices was short-lived and they went down to their previous levels in the latest transactions heard on Friday October 4.A Turkish steel mill in the Marmara region booked a UK cargo, comprising 18,000 tonnes of HMS 1&2 (80:20) at $223.50 per tonne cfr.Another steel mill in the Izmir region booked a US cargo at $228.50 per tonne cf...Read More
Brazilian mining company Vale expects to ramp up mine production at its On??a Puma nickel project in the northern state of Par?? throughout the first half of 2020 and reach 100% capacity by July, it said in a presentation to analysts and investors on Wednesday October 2. The smelter at the site will not depend on the restart of mining operations, however, because it will be fed by stocked nickel o...Read More
Canadian mining company Strongbow's investment in the South Crofty tin mine in Cornwall - an internationally famous tin mine in the south-west of England, with a long heritage - is for the long term, reports Hassan Butt.South Crofty is expected to deliver about 5,000 tonnes per year of tin when it becomes fully operationalSTRONGBOWThe South Crofty tin mine was once a centerpiece of the economy in...Read More
Spot terms for processing copper concentrates rose at an accelerated pace in the first week of October on improved concentrates availability, while smelters are well covered with contractual deliveries and miners are eager to sell more volumes via tender.Fastmarkets' benchmark copper TC/RC index cif Asia Pacific rose to $54.1 per tonne/ 5.41 cents per lb on Friday October 4. The index, which track...Read More