China is unlikely to become a major supplier in the ferrous scrap export market over the short to mid-term, due largely to robust demand in that country's domestic market, according to a top executive at Turkey-based ??olakoglu Metalurji. "I believe China is going to consume all the [ferrous] scrap internally. It's not going to export," chief executive Ugur Dalbeler said on Tuesday June 18, speaki...Read More
Seaborne iron ore prices soared across the $110-per-tonne-cfr mark again on Tuesday June 18 after a dip on Monday, amid bullish trading in derivatives and physical markets.MB 62% Fe Iron Ore Index: $112.28 per tonne cfr Qingdao, up $4.07 per tonne. MB 62% Fe Pilbara Blend Fines Index: $111.08 per tonne cfr Qingdao,up $4.07 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $114.46 per tonne cfr Qing...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transaction: iron oreIron oreBHP, Global Ore, 80,000 tonnes of 62% Fe Newman fines, traded at $111 per tonne...Read More
The seaborne coking coal spot market picked up some strength on Tuesday June 18 despite falling prices for metallurgical coke in China.A cargo of premium mid-vol hard coking coal, with laycan set for late June, was sold to a northeastern Chinese end user at $201 per tonne cfr China, various sources confirmed during the day.The price is a bit higher than current market rates, but is down $0.70 per...Read More
China's rebar market maintained its downward trend on Tuesday June 18 amid weakening demand. Domestic Eastern China (Shanghai): 3,790-3,840 yuan ($547-554) per tonne, down 10-30 yuan per tonneNorthern China (Beijing): 3,650-3,700 yuan per tonne, down 30 yuan per tonneRain in both Shanghai and Beijing capped trading activity during the day. Market participants expect demand to weaken in the next fe...Read More
Pala Investments will buy 100% of the remaining shares in Cobalt 27 for C$501 million ($374 million), the companies said on Tuesday June 18.A newly created company, Nickel 28, will hold Cobalt 27's joint-venture interest in the Ramu nickel-cobalt mine, as well as its other royalty and equity positions. Cobalt 27's physical cobalt position - about 2,900 tonnes - and its streaming deal for Vale's Vo...Read More
Fastmarkets hosted a free web seminar on Tuesday June 18 discussing recent price moves in the cobalt market and how industry developments might affect the market - and prices - going forward. If you missed it, follow the link below to listen to the free recording. Cobalt: contending with volatility in 2019 and beyondDuring the web seminar we discussed: Price assessment specifications, methodology...Read More
After 19 years of providing live spot market prices for gold, silver, platinum and palladium to hundreds of thousands of clients across the world, Fastmarkets will retire the Bullion Desk brand and close the Bulliondesk.com website. Prices will be available on Fastmarkets.comFastmarkets will continue to provide free precious metals spot prices and charts for gold, silver, platinum and palladium. T...Read More
Production of battery materials, including cobalt sulfate and nickel sulfate, at Guangxi Yinyi Advanced Material will not be affected by the bankruptcy of its parent company, Yinyi Group, Fastmarkets understands. Yinyi Group, the holding company for Shenzhen-listed ST Yinyi, has recently applied to Ningbo Intermediate People's Court for rehabilitation to solve its liquidity problems, according to...Read More
While generally weak global economic data continues to weigh on sentiment and is keeping base metals prices under pressure, the rise in tensions between the United States and Iran has lifted the gold price this morning, Tuesday June 18.The market is also waiting for direction from the US Federal Reserve, which it should get on Wednesday when the Federal Open Market Committee (FOMC) meeting provide...Read More
Outokumpu hopes to increase capacity by 100,000 tonnes per year and significantly improve lead times by fully digitalizing production at its site in Tornio, Finland, by 2020, it said on June 17. The stainless steel producer has been working with software giant Microsoft to build an industrial digital platform, Outokumpu Digital Platform (ODP), that will result in end-to-end digital manufacturing a...Read More
Ferro-silicon prices in China were steady in the week ended Friday June 14 with the release of a largely unchanged benchmark tender price, firm futures and tighter availability for prompt material providing support.In Europe, the market has stirred into life after several weeks of inaction amid quarterly tender talks, while the US market softened after coming under pressure from weakness in global...Read More
Dovish comments from European Central Bank (ECB) president Mario Draghi combined with some positive US-China trade developments (in that US president Donald Trump said he will meet Chinese president Xi Jinping in late June), prompted a recovery in equities and industrial metals prices on Tuesday June 18. Markets are now consolidating while they await direction from the conclusion of today’s U...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Investors are waiting for news from the U.S. Federal Reserve at 2:00 PM EDT. Consensus calls for no change in the Fed Fund Rate at 2.50%, but guidance toward a reduction later this year. The Canadian Dollar advanced 0.16 to 74.89 at U.S. 74.75 cents following release of Canada's May Consumer...Read More
Base metals traded on the London Metal Exchange made marginal gains by the afternoon kerb on June 17 buoyed by dovish whispers from the US Federal Reserve and a weakened US dollar index, with the exception of nickel and tin who made respective losses.The LME three-month nickel price has failed to capitalize on its uptrend from the previous day of trading, falling to around $11,760 per tonne in the...Read More
The tightness in copper concentrates supply and suspensions at major mines resulting from strikes and accidents have pushed treatment and refining charges (TC/RCs) for copper concentrates lower over the past two weeks.Fastmarkets' Asia-Pacific TC/RC index dropped to $54.10 per tonne/5.41 cents per lb on Friday June 14, its lowest since the index launched in June 2013. It was $56.10 per tonne/...Read More
Base metals prices on the London Metal Exchange were mostly suppressed during morning trading on Monday June 17 amid fragile risk sentiment. Continuing trade tensions between the United States and China and fresh geopolitical tension between the US and Iran, coupled with a slew of lackluster economic data from China, are capping any significant price gains."Whatever gains we seeing today are too m...Read More
The tightness in copper concentrates supply and suspensions at major mines resulting from strikes and accidents have pushed treatment and refining charges (TC/RCs) for copper concentrates lower over the past two weeks.Fastmarkets' Asia-Pacific TC/RC index dropped to $54.10 per tonne/5.41 cents per lb on Friday June 14, its lowest since the index launched in June 2013. It was $56.10 per tonne/...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.China China silicon export prices were unchanged for the fourth consecutive week amid thin inquiries and sporadic spot activity. Tight silicon ore supply in Xinjiang province remains, however, some sources said that most silicon refiners in major production hub Yunnan province have started to resume...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.ChinaKey drivers Domestic antimony price in China remained unchanged while suppliers' held offer prices relatively firm after the antimony branch of the China Nonferrous Metals Industry Association (CNIA) called major suppliers to cut production to stem a price fall at a meeting on June 1. Few domestic antimony...Read More