The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
China's economic growth slowed to 6.2% in the second quarter of this year - in line with expectations and well within Beijing's target of 6-6.5% growth for 2019 - but market participants continued to focus on the fact that this was the country's lowest gross domestic product (GDP) growth in nearly three decades.The record low GDP growth comes as the world's second-largest economy continues to feel...Read More
Fastmarkets reporters present six main takeaways from the Lithium-ion Battery & Material Supply Chain conference hosted by Shanghai Xinluo Network Technology in Qiandaohu, China, on July 11-12. 180,000 yuan per tonne for cobalt metal a 'good price to restock' Chinese cobalt metal buys should top up inventories when prices in China drop to 180,000 yuan per tonne ($10.52 per lb, less China-VAT), tra...Read More
The lithium industry's annual gathering was hosted this year in Santiago, Chile, where the world's leading lithium producers as well as battery and auto makers gathered to discuss key topics including the lithium market's dynamics, price volatility and the lack of visibility on supply and demand fundamentals. The conference was also the backdrop for the announcement that the London Metal Exchange...Read More
Prices for alloy-grade cobalt fell closer in line with those for standard-grade metal last week after sellers revised their expectations for premiums for certain brands and shapes to shift units. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam, fell to $12.65-13.10 per lb, on Friday July 12, down by 3.6% from $13.05-13.65 per lb a week earlier. Over the same period, Fastm...Read More
Prices in Asia for hot-rolled coil (HRC) have fallen in the past week on hectic selling by traders, market sources told Fastmarkets on Monday July 15.Fastmarkets' price assessment for steel HRC import, cfr Vietnam - which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam - was $510-515 per tonne cfr on July 15, down by $5-7 per tonne from $517-520...Read More
China's hot-rolled coil prices bounced back on Monday July 15 after the futures market strengthened after the release of economic data for the first half, while expectations of a drop in supply provided additional support.DomesticEastern China (Shanghai): 3,850-3,870 yuan ($559-562) per tonne, widening upward by 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 20 yuan per...Read More
Vietnam aims to start six new steel projects by the end of 2020, according to the Vietnam Steel Association.This would add a total of 6.2 million tonnes per year of finished and crude steel capacity on top of its fast-growing ferrous industry and bring its total steel capacity to 30.15 million tpy.Company: An Hung Tuong Location: Nghi Son, Thanh Hoa Capacity: 1.5 million...Read More
Here are five Fastmarkets MB stories you might have missed on Monday July 15 that are worth another look.In copper, the World Bank's International Centre for Settlement of Investment Disputes has awarded $5.84 billion in damages to Tethyan Copper Co Pty Ltd, Antofagasta said on Monday July 15. Separately, Fastmarkets summarizes five key points to take away from the one-day Yantai Copper...Read More
Buying activity in the CIS export long steel market was rather modest in the week to Monday July 15.Customers either preferred to refrain from bookings amid sluggish demand in their home markets, or were cautiously waiting for more clarity to emerge in the import scrap market in Turkey.Nevertheless, wire rod prices climbed over the week with a small CIS cargo reported sold at around $500 per tonne...Read More
Turkey's biggest steel producer, Erdemir Group, has denied making an offer to acquire struggling UK long steelmaker British Steel, it said in a stock exchange disclosure late on Sunday July 14."In some news published in [the] international media and reflected in the [Turkish] national media, it was claimed that our company made an offer for the acquisition of British Steel," the disclosure said. "...Read More
Turkish steel mills began the week in silence due to a public holiday in the country, sources said on Monday July 15.The Democracy and National Unity Day public holiday in Turkey meant trading activity was paused at the start of the week with many traders not at work.The last verified scrap...Read More
Seaborne iron ore prices resumed their upward trajectory on Monday July 15, amid fears of supply tightness accompanied by a positive outlook on China's overall economy.Fastmarkets' index for iron ore 62% Fe fines, cfr Qingdao: $121.41 per tonne, up $2.12 per tonne. Fastmarkets' index for iron ore 62% Fe Pilbara Blend Fines, cfr Qingdao: $121.33 per tonne, up $2.12 per tonne. Fastmarkets' ind...Read More
Movements in the ferrous scrap prices around the world were mixed in the week ended Friday July 12, with prices in Asia supported by steady demand and higher offers while prices in the United States and Turkey fell on thin spot trading activity. Turkey sees limited import trades US East Coast exporters see bearish demand Asian import prices up but downtrends possible Monsoon in India reduces spot...Read More
Rebar futures in China picked up on Monday July 15 following the release of the latest economic growth data, though spot prices for the long steel product softened amid selling pressure.Domestic Eastern China (Shanghai): 3,970-3,990 yuan ($577-580) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,870-3,900 yuan per tonne, down 10 yuan per tonneChina's gross domestic product grew by 6.3...Read More
Vietnam aims to start six new steel projects by the end of 2020, according to the Vietnam Steel Association.This would add a total of 6.2 million tonnes per year of finished and crude steel capacity on top of its fast-growing ferrous industry and bring its total steel capacity to 30.15 million tpy.Company: An Hung Tuong Location: Nghi Son, Thanh Hoa Capacity: 1.5 million...Read More
Ore and alloy prices were stable in most global spot markets in the week ended Friday July 12, with excess supply continuing to put pressure on producers. UG2 ore price, cif China, ticks up; Turkish lumpy ore stable Charge chrome market in China unchanged High-carbon ferro-chrome range ddp Europe widens Ferro-chrome in Japan ticks upward.Falls in the market for chrome ore stalled last week amid su...Read More
The domestic Chinese ferro-silicon price fell by 2.3% week on week on Friday July 12 despite tighter supply, while the European market continued to fall on slow downstream demand. Chinese domestic market dropped 2.3% while the export price was unchanged. Europe market fell by 1.3% on thin demand and reduced offers in the market. US prices were unchanged with a few deals concluded with...Read More
High-grade manganese ore prices jumped in China for the first time since April because of consumers favoring higher-quality material. High-grade material jumps by 4.8%Low-grade ore rises steadilySilico-manganese prices slide in China but hold in IndiaSilico-manganese prices rise in Europe, USFerro-manganese prices hold in Europe, US High-grade manganese ore prices jumped on Friday July 12 due to i...Read More
Vietnam aims to start six new steel projects by the end of 2020, according to the Vietnam Steel Association.This would add a total of 6.2 million tonnes per year of finished and crude steel capacity on top of its fast-growing ferrous industry and bring its total steel capacity to 30.15 million tpy.Company: An Hung Tuong Location: Nghi Son, Thanh Hoa Capacity: 1.5 million...Read More