Improved sentiment in the ammonium paratungstate (APT) market continued in the week ended Friday September 13 ahead of the Fanya tungsten stock auction, while ongoing concentrates tightness in China supported a 2.6% price jump. Positive sentiment kept APT prices elevated, China domestic price rises Concentrate price moves up due to supply tightness Ferro-tungsten range widens on pick-...Read More
Here are five Fastmarkets MB stories you might have missed on Monday September 16 that are worth another look.Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview.Newmont Goldcorp has suspen...Read More
The active contract price for aluminum on the Shanghai Futures Exchange may rise as high as 15,000 yuan ($2,128) per tonne by the end of October 2019 on the back of tightening supply, market participants have told Fastmarkets.The most-traded November contract price for the metal started to rally at the start of September on a continuing decline in the total volumes of aluminium in stock, and reach...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
Copper miner PT Freeport's export license for copper concentrates has been tripled by the Indonesian Energy and Mineral Resources Ministry for the March 2019-March 2020 period, Fastmarkets has learned. PT Freeport has been granted additional export quotas for copper concentrate from Indonesia, bringing annual export volumes to 700,000 wet metric tonnes (wmt) up from an initial quota of 198,282 wmt...Read More
Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview. The first scheduled smelter will be built in Pomalaa on Sulawesi Island, in a $2.8 million joint venture with Japanese multi-metal company Su...Read More
More Grasberg copper concentrates are being offered to the spot market after Freeport-McMoRan received extra export licenses from the Indonesian government to sell mined output overseas, the miner told Fastmarkets on Friday September 13. The extra quantities from the world's second largest copper mine have entered the spot copper concentrates market at a time of tight availability reflected in mul...Read More
Argentina's domestic steel product prices were steady again in September, and sellers have been reducing payment periods to compensate for political instability and currency volatility in the country.Fastmarkets' monthly assessment for steel hot-rolled coil domestic, exw Argentina, was at $720-725 per tonne on Friday September 13, unchanged since May.The monthly assessment for steel cold-roll...Read More
Steel plate prices in the United States were unchanged during the week to Friday September 13, but market participants said that prices were likely to drop further on soft demand.Fastmarkets' price assessment for steel cut-to-length plate carbon grade, fob mill US, remained at $34.50 per hundredweight ($690 per short ton) on September 13, steady week on week but down by 2.8% from $35.50 per cwt at...Read More
Special bar quality (SBQ) prices in the United States declined after ferrous scrap costs dropped in September while demand remained muted. Plentiful inventory and weak end-use markets including the domestic oil-and-gas industry and automakers ensured that SBQ producers could not sustain August prices, according to market participants. "The market is languishing," a mill source said. Fast...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) continued to fall last week on low demand and soft scrap prices, sources told Fastmarkets on Monday September 16.HRC exportsFastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $455-465 per tonne on September 13, down by $5 per tonne week on week.Some buyers in the EU have been cautious about making...Read More
Asia's hot-rolled coil markets are now seeking bright spots after price falls in the region eased.Prices have rebounded in the past week in the key regional market China of while the monsoon season in India is approaching its end."It is possible that the price drops have stopped and the bottom has been reached," a buyer source in Vietnam told Fastmarkets on Friday September 13.Supply of Indian HRC...Read More
Bargain-hunting buyers in Singapore buyers are indeed turning to Turkish rebar after prices for ferrous scrap in Turkey fell to their lowest in close to three years over the past week.The weekly Fastmarkets price assessment for steel reinforcing bar (rebar) import, cfr Singapore - which mainly looks at cargoes sold into Singapore on a theoretical-weight basis - was $440-450 per tonne for the week...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, Beijing Iron Ore Trading Center, 80,000 tonnes of 57.1% Fe Yandi...Read More
Seaborne iron ore prices were rangebound on Monday September 16 amid inactive trading after China returned from a three-day weekend to celebrate the Mid-Autumn Festival. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $98.45 per tonne, down $0.85 per tonne. 62% Fe Pilbara Blend fines, cfr Qingdao: $98.84 per tonne, down $0.85 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $96.94 per ton...Read More
The seaborne coking coal market remained quiet on Monday September 16 despite the return of Chinese participants after a long weekend due to the Mid-Autumn Festival last Friday.Premium hard coking coal, fob DBCT: $148.15 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.76 per tonne, unchangedHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $15...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products.Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
China's domestic hot-rolled coil prices rose on Monday September 16 amid moderate trading activity, while exporters remained under pressure from efforts of suppliers in other parts of the world to undercut them.DomesticEastern China (Shanghai): 3,710-3,720 yuan ($524-525) per tonne, up 10-30 yuan per tonneNorthern China (Tangshan): 3,620-3,630 yuan per tonne, narrowing upward by 20 yuan per tonneT...Read More
The three-month nickel price on the London Metal Exchange was lower during morning trading on Monday September 16, retreating toward $17,300 per tonne, ignoring stock outflows that have brought on-warrant material down to its lowest level in eight years. Turnover has been moderate for the base metals complex so far this morning, with copper traded volumes taking the lead at 7,200 lots exchanged as...Read More
China's domestic rebar prices increased on Monday September 16 following a strong showing by steel futures following an attack on Saudi Arabian oil facilities over the weekend. Domestic Eastern China (Shanghai): 3,720-3,750 yuan ($525-530) per tonne, up 70 yuan per tonneNorthern China (Beijing): 3,640-3,670 yuan per tonne, up 20 yuan per tonneThe most-traded November crude oil contract on the Shan...Read More