Seaborne iron ore prices continued to fall on Thursday September 19 amid retreats in the futures and steel markets.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.23 per tonne, down $3.19 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $93.62 per tonne, down $3.19 per tonne.62% Fe low-alumina fines, cfr Qingdao: $91.47 per tonne, down $2.96 per tonne.58% Fe fines high-...Read More
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 oreBHP, Global Ore, 100,000 tonnes of 58% Fe Yandi fines, sold at the October average of two 62% Fe indices, adjusted...Read More
The availability of ample cargoes of seaborne premium mid-vol hard coking coal has raised the possibility of traders engaging in panic selling.Premium hard coking coal, fob DBCT: $140.66 per tonne, down $3.42 per tonnePremium hard coking coal, cfr Jingtang: $161.43 per tonne, down $2.38 per tonneHard coking coal, fob DBCT: $122.50 per tonne, down $9.25 per tonneHard coking coal, cfr Jingtang: $140...Read More
China's domestic hot-rolled coil prices dropped on Thursday September 19 amid expectations of higher output in the northern region in the next six months. DomesticEastern China (Shanghai): 3,640-3,650 yuan ($513-514) per tonne, down 50 yuan per tonneNorthern China (Tangshan): 3,600-3,610 yuan per tonne, narrowing downward by 10 yuan per tonneA draft of measures to cut emissions in northern China d...Read More
China's spot rebar prices and its futures contract fell further on Thursday September 19 after a draft specifying looser steelmaking curbs for the remainder of the year was circulated via social media, though there is still no official word on such restrictions.Domestic Eastern China (Shanghai): 3,670-3,700 yuan ($517-521) per tonne, down 30 yuan per tonneNorthern China (Beijing): 3,580-3,620 yuan...Read More
Base metals prices on the Shanghai Futures Exchange drifted lower during the morning trading session on Thursday September 19 after the US Federal Reserve cut interest rates on Wednesday but failed to give a clear indication of further cuts.The US central bank lowered its benchmark lending rate by 25 basis points to a range of 1.75-2% at its meeting on Wednesday "in light of the implications of gl...Read More
Expectations of stockpiling activity ahead of the Chinese National Day holiday (October 1-7) have boosted sentiment among suppliers, leading to higher spot quotations for battery raw materials, including cobalt sulfate and tetroxide. Fastmarkets' assessment for cobalt tetroxide 72.6% Co min, delivered China rose to 200,000-210,000 yuan ($28,140-29,547) per tonne on Wednesday September 18, up...Read More
Key data from the Wednesday September 18 pricing session in London. Key drivers: Benchmark prices for cobalt metal continue to rise, with higher prices for metal and sulfate in China giving confidence that the recent rally - since Glencore announced it would close Mutanda at the end of the year - can be sustained. When...Read More
An overview of the minor metals markets and their latest price moves.Read More
Ramp-ups in Chinese nickel pig iron (NPI) production will not inhibit the use of traditional ferro-nickel in European stainless steel production, multinational miner Anglo American's head of business intelligence told Fastmarkets at the International Stainless and Special Steel Summit in Seville, Spain, on Tuesday September 17.Chinese production of NPI was up by 50.9% year on year in July 2019 to...Read More
The markets remain in limbo this morning, Friday September 20, while they wait for any news from the initial talks that are underway between deputy trade negotiators in the United States.With the US, Europe and China all showing they are prepared to ease monetary policy and with some signs of slightly better economic data, the markets seem a little less nervous and with that prices are managing to...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening tradeThe Canadian Dollar slipped 0.12 to U.S. 75.25 cents following release of Canada's July Retail Sales report. Consensus was an increase of 0.6% versus a revised slip of 0.1% in June. Actual was an increase of 0.4%Micron added $0.39 to $50.21 after JP Morgan raised its target price to $65 fro...Read More
The three-month nickel price on the London Metal Exchange was higher at the close of trading on Wednesday September 18, with the price breaching the nearby resistance value amid low trading volumes, while the rest of the base-metals complex continued to consolidate.Nickel futures closed at $17,200 per tonne in the afternoon, climbing by more than 1% from an intraday low of $16,970 per tonne, while...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 18.Please click...Read More
Nickel premiums fell in Europe and Asia while in the United States the 4x4 rate held steady, reflecting a lack of trade, but the premium on briquette - the more liquid form - fell. Europe briquettes, full-plate and cut-cathode premiums fall while stocks balloon at LME-listed warehousesChinese premiums weaken against backdrop of LME backwardation, lack of arbitrage opportunities US buyers remain on...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 18 that are worth another look.The global nickel supply deficit will shrink in 2020 despite the implementation of the latest Indonesian ore export ban, according to Denis Sharypin, head of commodity market research for Russian multi-metal miner Nornickel.The London Metal Exchange will give members incentives to trade...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More
South African manganese miner Kalagadi Manganese has signed a 3 billion rand ($203.8 million) five-year contract with Transnet for the transportation of 3 million tonnes per year of sinter manganese for export, both parties said on Monday September 16. The contract follows 12 years of discussion between Transnet and Kalagadi, which started development of its project, a mine and sinter plant, 19 ye...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More
The London Metal Exchange will give members incentives to trade cash-settled futures contracts as well as those for precious and ferrous metals. With the aim of encouraging burgeoning futures markets for the likes of cobalt, alumina and steel scrap, the exchange has devoted a pot of $2 million to subsidize category I and II members trading the contracts that were launched over the last five years,...Read More