An overview of the minor metals markets and the reasons for any price moves.Read More
The following Fastmarkets minor metals prices changed on Friday August 16:Minor metals Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,900-6,100 per tonne from $5,950-6,150Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,750-6,000 per tonne from $5,800-6,000Bismuth 99.99% Bi min, in-whs Rotterdam, $/lb: $2.75-2.95 per lb from $2.80-2.95Bismuth 99.99% Bi min, in-whs...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The price range for grade-304 cold-rolled stainless sheets narrowed upward this week while participants increasingly expect monthly alloy surcharges for September to rise substantially, Fastmarkets heard on Friday August 16.Fastmarkets' assessment of the price for stainless steel cold-rolled sheet, 2mm, grade-304, transaction domestic, delivered North Europe was ?,?2,230-2,250 ($2,482-2,504) per t...Read More
Market participants in Asia expect PT Indonesia Tsingshan Stainless Steel to be the most significantly affected should the European Union decide to impose anti-dumping duties on imports of stainless hot-rolled coil and sheet from the region.The EU earlier this week initiated an anti-dumping investigation into imports of such products from China, Indonesia and Taiwan.The EU probe could further limi...Read More
Holiday absences in the key markets of South Korea and Japan have limited spot trading in ferrous scrap in the week ended Friday August 16, with only a limited number of transactions heard concluded to Taiwan.Japanese exporters were not offering much material because most market participants were on vacation."Sellers in both the United States and Japan will probably lower their offers next week, w...Read More
Turkey's military pension fund, OYAK, has reached a provisional agreement to buy steelmaker British Steel, OYAK said on Friday August 16. OYAK is the biggest shareholder of Turkey's largest steel producer, Erdemir Group, and this agreement is a step toward in its goal to become a regional leader in steel sector, OYAK said. British Steel entered into compulsory liquidation in May 2019 and rece...Read More
The three-month nickel price on the London Metal Exchange closed at its highest since December 2014 on Thursday August 15, climbing to $16,250 per tonne amid renewed buying momentum, while a steady incline in tin futures led to its highest close since August 1. Nickel began the day's trading below the nearby $16,000 per tonne resistance level, falling to an intraday low of $15,765 per tonne, befor...Read More
Chilean state-owned copper producer Codelco began operations at Chuquicamata's subterranean phase on Wednesday August 14, with an aim to increase mine life by 40 years and to improve the division's productivity, the company said.The new venture for the centennial open pit mine has 1.03 million tonnes of copper mineral reserves, at 0.82% content, the miner added. These volumes will result in 320,00...Read More
The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets. Analysts expect China's State Grid Corp of China, whose budget comprises 50% of the country's annual copper demand, to come good on promises to increase investment on the nation's electronic grid by 5% this year. That amounts to 14 billion yuan ($2 billion) of extra spending, according to estim...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday August 15 that are worth another look.The world's biggest copper consumer could be getting ready to start spending, analysts told Fastmarkets. Analysts expect China's State Grid Corp of China, whose budget comprises 50% of the country's annual copper demand, to come good on promises to increase investment on the nation's electr...Read More
Chilean state-owned copper producer Codelco began operations at Chuquicamata's subterranean phase on Wednesday August 14, with an aim to increase mine life by 40 years and to improve the division's productivity, the company said.The new venture for the centennial open pit mine has 1.03 million tonnes of copper mineral reserves, at 0.82% content, the miner added. These volumes will result in 320,00...Read More
China's alumina market is showing signs of a recovery following the emergence of higher offer prices by domestic producers this week due to a number of production cuts in the country, market sources told Fastmarkets on Wednesday August 14.Several alumina operations in eastern and northern China, including China Hongqiao Group's facility in Shandong province that is said to be suffering from severe...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
Turkish steel producers have remained quiet in the deep-sea scrap markets so far this week because of the religious holiday in the country, sources said on Thursday August 15.The Turkish market and those in other Middle Eastern territories were closed until August 15 for the Islamic Eid al-Adha celebrations.As a result...Read More
Concerns over the future availability of material added to the optimistic demand expectations that have allowed sellers to command higher cobalt hydroxide payables in the first half of August, Fastmarkets has learned.Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China, rose by 5.8% on Thursday August 15 to 62-65% of the low-end of the standard-grade cobalt metal price. This was...Read More
International inquiries for cobalt metal from China picked up quickly over the past week after the premium that the Chinese metal price holds against the European price narrowed sharply on Wednesday August 14.Fastmarkets assessed the price of cobalt 99.8% Co min, exw China at 270,000-280,000 yuan per tonne ($15.39-15.96 per lb, excluding China value-added tax) on Wednesday, down by 2.1% from 276,0...Read More
China's hot-rolled coil prices retreated on Thursday August 15 after trading activity fell for a third day.DomesticEastern China (Shanghai): 3,710-3,720 yuan ($528-529) per tonne, down 10 yuan per tonneNorthern China (Tianjin): 3,720 yuan per tonne, narrowing downward by 10 yuan per tonneBuying slowed further during the day, with downstream buyers putting up resistance despite mills keeping their...Read More
The Eurasian Economic Commission (EEC) will impose a quota for hot-rolled flat steel imports to members of the Eurasian Economic Union (EEU) for one year starting from December 1, 2019.The EEU countries are Russia, Belarus, Armenia, Kazakhstan and Kyrgyzstan. The total quota for the EEU bloc will be 1.33 million tonnes, the EEC announced last week.Volumes exceeding the quota will be a subject to a...Read More