Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Switzerland-based commodities trader Werco Trade has hired metal concentrates trader Theresa Nepote as part of a push to expand the company's commercial capabilities, it said on Tuesday August 6.Nepote will join Werco as a senior trader, enabling the company to diversify into additional markets, the company said. She most recently traded zinc, lead and copper concentrates at Bluequest Resources an...Read More
Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum. On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by...Read More
Observers of the copper market are looking at a trend that started in 2001 to determine where the market could find support after five days of successive selling took the price to two-year lows by Monday August 5.At $5,665 per tonne, the London Metal Exchange's benchmark three-month copper futures contract was down by 5.9% since Tuesday last week, having sold off again on Monday amid a worsening d...Read More
China's demand for imported billet could shrink in the coming months due to a surge in supply that could cause domestic spot prices to fall and make them more attractive to buyers.While large tonnages were delivered to the country over the past couple of months, market participants do not expect imports to continue at the same pace over the rest of the year. In June, China imported 110,000 tonnes...Read More
Physical tin market participants disagree over the next move in the price, with some telling Fastmarkets that it could rebound after a slide of more than 12% over the past two months although weak demand and erratic stock moves continue to dent momentum. On the London Metal Exchange, the three-month tin price has fallen by 12.7% since June 5 from above $19,000 per tonne. The price is also down by...Read More
China's domestic rebar prices held steady on Tuesday August 6, but export prices for the long steel product fell as a result of a weaker yuan. Domestic Eastern China (Shanghai): 3,770-3,800 yuan ($538-542) per tonne, unchangedNorthern China (Beijing): 3,730-3,760 yuan per tonne, unchangedTraders kept prices flat during the day to see how the futures market develops.Sellers would not have been able...Read More
Observers of the copper market are looking at a trend that started in 2001 to determine where the market could find support after five days of successive selling took the price to two-year lows by Monday August 5.At $5,665 per tonne, the London Metal Exchange's benchmark three-month copper futures contract was down by 5.9% since Tuesday last week, having sold off again on Monday amid a worsening d...Read More
Prices for flat steel imports into the United Arab Emirates and Saudi Arabia were stable in the week ended Tuesday August 6, with demand weak because of the upcoming Eid al Adha religious holiday next week.The market was expected to improve in the second half of August, when the eid, and the Hajj pilgrimage and holiday seasons, will almost be over.Some deals were placed last week, so buyers did no...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets due to the persistent weak demand for finished long steel products, sources said on Tuesday August 6.Since the mills in the country booked a number of deep-sea cargoes in the week ended July 26, they have made no further purchases.Turkish steel producers want to sell some rebar before making any further deep-sea...Read More
The Midwest aluminium premium in the United States moved to its lowest level in nearly 17 months on Tuesday August 6, with buyers remaining detached from the spot market. Fastmarkets' assessment of the aluminium P1020A premium, ddp Midwest US, edged down to 17.5-18 cents per lb on August 6, down from 17.75-18.25 cents per lb previously, where the premium had held since mid-July.The premium has bee...Read More
The benchmark secondary aluminium alloy A380.1 price in the United States fell to a new low on Monday August 5, with the market pressured by a handful of producers continuing to aggressively compete for sales amid slowing die-caster orders.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest, declined to 65-68 cents per lb on August 5, down from 66-70 cents per lb in the pre...Read More
Prices for some aluminium scrap grades have continued to move lower, particularly the mill grades, due to a decrease in primary metal on the London Metal Exchange, sources said on Monday August 5."I would say prices have dropped a penny or two below [for mill grades]. I do think that smelter prices are dropping again also," one aluminium scrap seller said. "I don't know that we have seen a bottom...Read More
A recovery in the exchange rate between the Chinese offshore yuan and the US dollar helped to steady base metal futures in London on Tuesday August 6, after heavy losses in preceding days, although the price of copper, the complex leader, remained on a downtrend.At $5,683 per tonne on Tuesday, the price of copper, 3 months, London Metal Exchange Daily Official, was down by $2 per tonne from the cl...Read More
Switzerland-based commodities trader Werco Trade has hired metal concentrates trader Theresa Nepote as part of a push to expand the company's commercial capabilities, it said on Tuesday August 6.Nepote will join Werco as a senior trader, enabling the company to diversify into additional markets, the company said. She most recently traded zinc, lead and copper concentrates at Bluequest Resources an...Read More
UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base nearby, sources close to the matter told Fastmarkets on Tuesday August 6.Market participants said that a fire broke out at a nearby military base and an explosion was heard, which led Rusal - the largest aluminium producer outside China - to suspend its operations at...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Brazilian automotive output totaled 266,371 units in July, increasing by 8.4% from 245,641 units in the corresponding a year before, with the domestic market showing continued signs of strength, vehicle manufacturers' association Anfavea said on Tuesday August 6.New locally produced vehicle registrations totaled 218,492 units in the month, up by 14.9% compared with 190,151 units in July 2018. Grow...Read More
Prices for rebar imported into the United Arab Emirates have decreased over the past week, with demand only moderate although some deals were heard, sources said on Tuesday August 6.The lower price for imports was because market participants in the Middle East region will be celebrating the Eid al Adha religious holiday most of next week, so some deals were made at discount prices.Domestic rebarLo...Read More
Rebar prices in Russia's major steel-consuming region, the Central Federal District, decreased over the week ended Monday August 5 because of increased supplies.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar) domestic, cpt Moscow, Russia, including 20% VAT, was 40,000 roubles ($612) per tonne on Monday, down from 41,000-41,500 roubles per tonne a week before."The demand is s...Read More