The United States Secretary of Commerce has joined the growing chorus of voices questioning the current method of setting the US Midwest aluminium premium. Wilbur Ross said the US Midwest aluminium premium is at inflated levels that do not justify the cost of transportation and logistical handling costs that it was originally designed to reflect. His view is being echoed by a number of...Read More
Here are five Fastmarkets MB stories you might have missed on Friday August 16 that are worth another look.An oversupply that has been branded the leading cause of the persistent price weakness seen in China's vanadium market during the first half of 2019 will likely continue to act as a headwind for the rest of the year, market sources told Fastmarkets.Chinese domestic battery-grade lithium...Read More
A wave of risk-on sentiment is flowing through broader markets this morning, Monday August 19, on expectations that central banks will provide stimulus going forward to cushion moves toward recession. Asian equites are in positive territory, led by a 2.33% gain in the Hang Seng. Gold prices have eased, with spot gold recently quoted at $1,508 per oz.The problem is that while this may pro...Read More
Following is a link:http://www.equityclock.com/2019/08/18/stock-market-outlook-for-august-19-2019/Note seasonality chart on U.S. New Housing Starts.Market Call Tonight on BNNBloomberg at 6:00 PM EDTGuest analyst tonight is Jeff Parent from CastleMoore. The Bottom LineThe traditional period of summer weakness in world equity markets continued last week despite a favourable bounce by world equi...Read More
The three-month price of nickel on the London Metal Exchange remained elevated at the close of trading on Friday August 16, retaining gains made at Thursday's close above the $16,000 per tonne support level, while a weak LME tin price could see the two prices converge.Nickel's three-month price closed trading at $16,200 per tonne, holding at a five-year high achieved on Thursday, while tin futures...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Progress at Mauritius-based Alphamin Resources' Bisie tin mine in the Democratic Republic of Congo has led the company to alter its leadership structure, with the project now a step closer to full production after the conclusion of its commissioning phase.Alphamin's chief executive officer, Boris Kamstra, stepped down after four years in the role earlier this week, making way for the appointment o...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in China, Asia, Europe and the United States for the week ending Friday August 16. Europe The high carbon ferro-chrome price dropped by 4.4% in the past week due to lower offer prices with one deal reported being done at $0.71 per lb for 350 tonnes. European industry sources generally put prices in the upper 0.70 cents per lb range, although there wer...Read More
China's domestic alumina market recovered slightly this week after producers raised their offer prices amid production cuts across the country, but the upward momentum will be difficult to sustain over the long term, Huatai Futures aluminium analyst Li Shuheng told Fastmarkets on Thursday August 15."Fundamentally, there is no support for the uptrend of [alumina prices in China] over a long period...Read More
An oversupply that has been branded the leading cause of the persistent price weakness seen in China's vanadium market during the first half of 2019 will likely continue to act as a headwind for the rest of the year, market sources told Fastmarkets.Vanadium prices in China were on a general downward trajectory in the first six months of 2019, partly due to higher-than-expected supply and weaker-th...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Compagnie de Tifnout Tiranimine (CTT) cut cobalt production at its operations in Morocco at the beginning of the August and will continue to operate at a lower rate in September as a result of low cobalt prices. Production will be reduced by 40-50% in August and September. In addition, there will be a full 10-day closure for maintenance in September, Fastmarkets understands. Production was initial...Read More
Ferrous scrap prices were down or unchanged in all of the major markets during the working week ending Friday August 16, following limited trading and poor demand after a pause in market activity for a religious holiday.The Eid al-Adha holiday subdued trading in Turkey and other Middle Eastern countries as well as the markets where they trade. Trading activity remained slow for the remainder of th...Read More
The Turkish steel mills have held back from deep-sea scrap import activity this week because the market was mostly closed due to the Islamic holiday in the country, sources said on Friday August 16.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations, and a lot of market...Read More
Alloy steel scrap prices in the UK and Europe were largely stable this week with the recent surge in the price of nickel losing its momentum, sources told Fastmarkets on Friday August 16.The price of nickel, 3 months, London Metal Exchange Daily Official, was $16,050-16,055 per tonne on August 16, compared with $15,675-15,680 per tonne on August 9, a gain of $375 per tonne.This compared with the p...Read More
Against the background of heavy economic and geopolitical clouds, markets are getting some lift on Friday August 16, presumably since they have absorbed all the latest gloomy news on global economy, trade, the unrest in Hong Kong and debt default concerns in Argentina. Gold, the yen and US and German government bonds, remain in high demand, which highlight the cautionary stance investors hold and...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Compagnie de Tifnout Tiranimine (CTT) cut cobalt production at its operations in Morocco at the beginning of the August and will continue to operate at a lower rate in September as a result of low cobalt prices. Production will be reduced by 40-50% in August and September. In addition, there will be a full 10-day closure for maintenance in September, Fastmarkets understands. Production was initial...Read More
Turkish prices for hot-dipped galvanized coil (HDG) and color-coated coil were stable over the week ended Friday August 16, with the market slow because of the Eid al-Adha religious holiday, sources told Fastmarkets.Turkey was on eid holiday on August 12-14, and the market was stable over the other two working days of the week.Domestic pricesDemand in the country's local market was poor over the p...Read More