When the London Metal Exchange amended its policies related to its physical delivery network a few years ago, it overlooked one key thing. The issue centers on LME's linked load-in/load-out (LILO) rule, which operates by linking the amount of metal a warehouse loads in to the amount it is obligated to load out for warehouses that have queues of over 50 days.The rule changes were part of package of...Read More
Ahead of Fastmarkets' Battery Materials 2019 conference in Shanghai, Fastmarkets looks at use of lithium in next-generation vehicles and other battery uses, as well as soaring prices, which have spurred interest in lithium and boosted its importance in recent years as a battery material. In June 2016, the spot price in China peaked at $27 per kg, more than three times the global contract price, ac...Read More
Chinese vanadium prices have dropped significantly since this year's week-long Lunar New Year holiday (February 4-10) amid falling international prices and weak demand in both the domestic and international markets.For example, Fastmarkets assessed the export price for ferro-vanadium, min 78%, fob China, at $50-54 per kg on Thursday April 11, which is down by around 28.5% from $70.50-75 per kg on...Read More
Copper's three-month price on the London Metal Exchange climbed above $6,600 per tonne at the close of trading on Wednesday April 17, buoyed by strong GDP figures out of China while a softer dollar index below the psychological level of 97 supported afternoon buying.Volumes traded in the red metal reached their highest level since March 22 over the day, with more than 24,000 lots changing hands by...Read More
The lead price could rebound above $2,000 per tonne and even touch $2,100 per tonne in the next six months because it is oversold and supply and demand conditions remain tight this year, Macquarie bank said on Tuesday April 16. "The recent decline in the lead price is overdone and was on the back of a large re-warranting in Asia rather than a change in fundamentals," Macquarie metals strategist Vi...Read More
The Comex copper market jumped up in US morning trading on Wednesday April 17 amid positive reaction to a combination of better-than-expected Chinese economic news and a softer dollar.The copper price for May settlement on the Comex division of the New York Mercantile Exchange surged 5.95 cents to $2.99 per lb. At last glance, the dollar index was at 96.95, down 0.16% and just below the psychologi...Read More
China's month-on-month new electric vehicles (NEV) sales rebounded in August after month-on-month declines in June and July. The drop in sales between May and June was the first drop since September 2016, but Fastmarkets MB had expected Chinese NEV sales to dip temporarily after the June subsidy changes came into effect because consumers and NEV manufacturers would have to adjust to the new subsid...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
The steel scrap sector in the United States still depends on exports to Turkey, a member of the Fastmarkets research team said during the ferrous session at the Bureau of International Recycling (BIR) conference in London.This dependence persists despite the changes in the international markets created by the US' imposition of its Section 232 tariffs on imports of steel products, metals analyst Le...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 17 that are worth another look.Precious metals prices would support zinc and lead mining even if the global markets crashed, including those for base metals, panelists said at Fastmarkets' International Lead & Zinc Conference in London on Tuesday April 16. Copper's three-month price on the London Metal Exchange...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 17.Please click...Read More
The lead price could rebound above $2,000 per tonne and even touch $2,100 per tonne in the next six months because it is oversold and supply and demand conditions remain tight this year, Macquarie bank said on Tuesday April 16. "The recent decline in the lead price is overdone and was on the back of a large re-warranting in Asia rather than a change in fundamentals," Macquarie metals strategist Vi...Read More
The Comex copper market jumped up in US morning trading on Wednesday April 17 amid positive reaction to a combination of better-than-expected Chinese economic news and a softer dollar.The copper price for May settlement on the Comex division of the New York Mercantile Exchange surged 5.95 cents to $2.99 per lb. At last glance, the dollar index was at 96.95, down 0.16% and just below the psychologi...Read More
Daily PDFs will be downloadable until Friday April 19. After that, because of the UK's Easter holidays, the next daily PDF will be downloadable on Wednesday April 24.Read More
Primary aluminium stocks at the three main Japanese ports (MJP) of Osaka, Nagoya and Yokohama declined by 7.7% month-on-month in September, data released by major Japanese trading house Marubeni Corp on Wednesday April 17 showed.Total aluminium stocks at the three ports totaled 295,900 tonnes at the end of March, compared with 319,700 tonnes at the end of February, reversing the increase seen from...Read More
Wire rod prices in the United States have deteriorated for a third consecutive month due to a range of factors, with prices for imported material also down on fresh cfr offers originating from Europe, Africa and Asia, market sources said.Fastmarkets AMM's assessment for industrial quality low-carbon wire rod was at $37-38 per hundredweight ($740-760 per short ton) fob mill on Tuesday April 16, dow...Read More
The European Commission (EC), under its EU Merger Regulation, has approved Liberty House Group as a suitable purchaser of several steel plants put up for sale by ArcelorMittal, the Commission said on Wednesday April 17.The assets have been sold under commitments made by ArcelorMittal to the EC when it bought Italian steelmaker Ilva.Assets included within the divestment package are a steel plant in...Read More
The Iranian export billet price has remained firm over the past week, while the slab price has gained $5-10 in recent sales despite pessimism in the global steel market, sources told Fastmarkets."There may be some pressure on Iranian prices in the future, but not immediately," one trader said, referring to successful sales in the previous weeks. "Iranian mills have full order books through early J...Read More