The three-month price of tin on the London Metal Exchange was higher at the close of trading on Wednesday September 11, settling at its highest level since June 21, while a steady downturn across the rest of the complex saw copper fall through its nearby $5,800 per tonne support level.Tin futures traded at an intraday high of $17,750 per tonne, climbing by more than 12% since falling to a four-yea...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday September 11.Please click...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 11 that are worth another look.Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week.Zambian cop...Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
The recent rise in ferro-vanadium and vanadium pentoxide (V2O5) import interest in China will likely add further downward pressure on the Chinese domestic market, market sources told Fastmarkets during the Ferro-alloynet International Vanadium Conference on Tuesday September 10. Some Chinese domestic traders have turned to importing vanadium products into China, stimulated by the continued wide pr...Read More
An overview of the minor metals markets and their latest price moves.Read More
Zambian copper production will drop by 11.6% this year after a series of tax reforms have led to production cost hikes, an industry body said in a statement on Wednesday September 11.Estimated output will fall by 100,000 tonnes this year, according to Zambia Chamber of Mines (ZCM) chief executive officer Sokwani Chilembo, who added that it would essentially remove Zambia from the global top 10 cop...Read More
Turkish steel mills stayed out of the deep-sea scrap market and continued to push for lower prices on Wednesday September 11, sources told Fastmarkets.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on Monday.The steel mills...Read More
Australian multi-metal miner Blackstone Minerals considers Vietnam a reliable and equitable jurisdiction for nickel production and export once the Indonesian ore export ban comes into effect in January 2020, chief executive officer Scott Williamson told Fastmarkets last week. With estimated refined production capacity of 10,000 tonnes per year, the company plans to develop its newly-acquired Vietn...Read More
China's hot-rolled coil prices dropped on Wednesday September 11 after buying interest thinned further.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($519-520) per tonne, down 10-20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, down 10-20 yuan per tonneSources in both eastern and northern China said trading was sparse during the day amid softening futures.A Tianjin-base...Read More
The price of mesh-quality steel wire rod in the Northern European domestic market moved down this week amid poor demand from the key German market, sources told Fastmarkets on Wednesday September 11.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?460-470 ($508-519) per tonne on Wednesday, down by ?,?10-30 per tonne week on week.Th...Read More
The price of steel rebar in the domestic market in Southern Europe was unchanged this week but lower prices were expected to emerge next week because of softer ferrous scrap costs, sources told Fastmarkets on Wednesday September 11.Participants said that there were rumours in the market that low prices had been offered to so-called 'tier one' customers - that is, those buying the largest volumes....Read More
The price of steel rebar in the Northern European domestic market decreased this week because of weak demand and low ferrous scrap prices, sources told Fastmarkets on Wednesday September 11.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe, was ?,?475-490 ($525-541) per tonne on Wednesday, down by ?,?15-25 per tonne week on week.The primary...Read More
Turkish steel mills stayed out of the deep-sea scrap market and continued to push for lower prices on Wednesday September 11, sources told Fastmarkets.There have been no bookings confirmed since a steel mill in the Izmir region booked a Baltic Sea cargo of 25,000 tonnes of HMS 1&2 (80:20) at $240 per tonne cfr late on Monday.The steel mills...Read More
Seaborne iron ore prices continued to strengthen on Wednesday September 11, closing in on $95 per tonne cfr China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $94.66 per tonne, up $1.44 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $95.05 per tonne, up $1.44 per tonne.62% Fe low-alumina fines, cfr Qingdao: $92.95 per tonne, up $1.92 per tonne.58% Fe fines high-premium...Read More
Iron ore miner Rio Tinto and trader Cargill have concluded the first fully integrated paperless transaction for iron ore, marking a key step toward the digitization of commodities trading.The transaction involved Rio Tinto selling a bulk shipment of iron ore originating in Australia to a Cargill customer in China last month. The trade was completed using contract automation systems provider Chinsa...Read More
The Iranian export market for steel billet and slab has been largely quiet in the week to Wednesday September 11 amid a mismatch between mills' offer prices and customers' bids as well as religious holidays on Monday and Tuesday.Most billet suppliers in Iran chose to show caution while they attempted to assess the situation, after a sharp drop in the global billet and scrap markets.Some market sou...Read More
China's domestic rebar prices dropped on Wednesday September 11 after selling interest picked up ahead of a three-day weekend.Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($513-517) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,620-3,650 yuan per tonne, narrowed downward by 10 yuan per tonneTraders lowered prices to move more cargoes ahead of a public holiday on Friday to mar...Read More
Stainless steel prices in East Asia have shown an uptick over the past week on continued strength in the price of nickel on the London Metal Exchange, although limited demand prevented a sharper increase, market sources said on Wednesday September 11.The LME nickel price rallied by 23% last month after Indonesia announced that it would bring forward a ban on nickel ore exports, which will now begi...Read More