Seaborne iron ore prices remained flat on Wednesday October 2, with the market largely muted amid the week-long public holiday in China from October 1-7.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $98.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines...Read More
Spot activity for both zinc and lead remained minimal in the week to Tuesday October 1, while premiums across other global markets were left unchanged. Zinc premiums in Europe and the United States are unchanged this week while zinc's three-month price on the London Metal Exchanage remains stable and most of the market is well covered by long-term deliveries.LME zinc's forward curve is contracting...Read More
The London Metal Exchange three-month aluminium price was trading down by 0.5% at around $1,730 per tonne during morning trading on Wednesday October 1.Concurrently, a significant 29,000-tonne inflow of material into LME-approved Asian warehouses suppressed the light metal's three-month price.17,000 tonnes of metal entered the Gwangyang, South Korea warehouse, while a lesser 12,350 tonnes flowed i...Read More
Weak manufacturing purchasing managers' index (PMI) data out across major economies on Tuesday October 2 dampened the tone across most markets, with money rotating into havens. That said, the situation in the United States is still looking mixed - the IHS Markit manufacturing PMI edged up to 51.1, from 51, so still shows expansion, while the ISM reading fell to 47.8, from 49.1. In addition, U...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 2.Key drivers A drop in the ferro-titanium price to $4.40-4.80 per kg delivered this week from $4.60-4.90 per kg last week reflects quiet consumer buying interest and only low levels of trading at lower prices. Consumers in the steel sectors have been slow to return to the market since the seasonal summer lull, both for prom...Read More
The following Fastmarkets minor metals prices changed on Wednesday October 2:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $5,950-6,175Antimony...Read More
Taiwan will defer the imposition of anti-dumping and countervailing duties on five Chinese steel and stainless steel products, the island's customs administration said last week. The decision to delay the tariffs was made after considering the recommendation of Taiwan's International Trade Commission (ITC), the impact on Taiwan's economic interests and the global economic situation, Taiwan's Custo...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday October 2:Aluminium scrapGroup 1 pure 99% & litho, delivered consumer UK, ?/tonne: ?1,250-1,300 per tonne from ?1,280-1,320Commercial pure cuttings, delivered consumer UK, ?/tonne: ?850-880 per tonne from ?850-900Clean HE9 extrusions, delivered consumer UK, ?/tonne:...Read More
* Glencore warehouse unit mostly to blame for losses, judgesays * Marex can only claim back fraction of $32 mln judgment * Case related to fake receipts for nickel stored in Asia (Adds comment from Access World in paragraphs 13-14) By Eric Onstad LONDON, Oct 2 (Reuters) - Glencore warehouse unitAccess World was mostly to blame for $32 million of losses froma complex metals fraud, but broker Marex...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 1.Please click...Read More
Fastmarkets rounds up six key takeaways from its first Battery Materials Europe conference in Amsterdam, which took place on September 26-27.Battery boom warrants evolution of cobalt pricing mechanisms Cobalt hydroxide and cobalt sulfate account for a growing portion of the cobalt market, which reflects growth - and forecasts for future growth - in EV demand. While cobalt metal prices have traditi...Read More
The three-month tin price on the London Metal Exchange was the standout performer at the close of trading on Tuesday October 1, closing over 2% higher amid high turnover while mixed trading pushed zinc futures 2.4% lower. Trading at an intraday low of $15,950 per tonne, LME tin's outright price broke past the $16,000-per-tonne threshold over the morning session, settling at $16,250 per tonne by 5p...Read More
Fastmarkets rounds up six key takeaways from its first Battery Materials Europe conference in Amsterdam, which took place on September 26-27.Battery boom warrants evolution of cobalt pricing mechanisms Cobalt hydroxide and cobalt sulfate account for a growing portion of the cobalt market, which reflects growth - and forecasts for future growth - in EV demand. While cobalt metal prices have traditi...Read More
Prices of cobalt metal, salts and hydroxide continued their upward momentum in September, while the chemical prices outperformed amid strong demand incited by concerns of supply tightness following the news on Glencore's Mutanda mine closure in early August. Price moves The rally in the benchmark cobalt price slowed in September with aggressive trader stockpiling drying up, amid limited restocking...Read More
The Turkish steel producers have continued their deep-sea purchases for November shipments, sources said on Tuesday October 1.A steel mill in the Marmara region booked a 32,000-tonne US-origin cargo, comprising HMS 1&2 (80:20) at $226 per tonne, shredded at $231 per tonne and bonus at $236 per tonne cfr. The cargo composition, however, was not clear at the time of...Read More
Some major Chinese scrap importers have stopped buying from overseas over fears of not receiving quotas for the fourth quarter of 2019, leading them to postpone deliveries until March next year after Lunar New Year, Fastmarkets has learned. Many buyers in Ningbo province, a major destination for No2 copper scrap imports to China, have already used up their quotas assigned earlier and some of them...Read More
Fastmarkets published its China copper scrap discount price later than scheduled on Monday September 30 due to a technical issue during the price discovery process.The following price was published in Fastmarkets' price book later than scheduled: Copper scrap No2 copper (birch/cliff) imported into China 94-96%, LME/Comex discount, cif China, US cents/IbFor more information on or to provide feedbac...Read More
Broader markets are seeing some relief buying in the morning of Tuesday October 1 after the United States stepped in to ease fears of escalating trade tensions by denying plans to prevent Chinese companies from listing their shares on US markets, but metals remain under pressure. The economic news remains depressing: South Korea's exports registered 10 months of declines and a Bank of Japan survey...Read More
Fastmarkets rounds up six key takeaways from its first Battery Materials Europe conference in Amsterdam, which took place on September 26-27.Battery boom warrants evolution of cobalt pricing mechanisms Cobalt hydroxide and cobalt sulfate account for a growing portion of the cobalt market, which reflects growth - and forecasts for future growth - in EV demand. While cobalt metal prices have traditi...Read More