The deadly breach of one of Vale's tailings dams in Brazil this year was a harsh reminder for the mining sector that it needs to consistently operate within the parameters of strict controls and stay alert to potentially tragic risks, according to the chief executive officer of Anglo American's copper business. Hennie Faul said in an interview with Fastmarkets as part of the annual Cesco industry...Read More
Current global geopolitics add an element of uncertainty to the copper sector but the market's solid fundamentals have prevented a strong reaction in the metal's price, according to Hennie Faul, the chief executive officer of Anglo American's copper business.There is nonetheless an inevitable knock-on impact on decision-making for investments, Faul said in an interview with Fastmarkets as part of...Read More
With copper executives gathering in the Chilean capital of Santiago for this year's CESCO-organized copper industry convention, interest in mined copper concentrates was being boosted by disruptions to trade flows in copper scrap.Since last year, China's copper scrap imports have been restricted by a series of policies designed to restrict the amount of waste the country processes and to tackle it...Read More
The mining, production and concentrate transport at MMG's Las Bambas copper mine in Peru is expected to progressively return to normal operations, the mining company said on Monday April 8 in a notice to the Hong Kong Exchange. The resumption comes after an agreement was reached between MMG and the community of Nueva Fuerabamba. "In response, the community has agreed to lift their current roadbloc...Read More
The Chinese antimony price, despite dropping for the sixth consecutive week, has slowed its pace of descent in the latest assessment period ended Wednesday April 3 after suppliers resisted cutting prices and halted production instead to avoid further losses. Meanwhile, low offers were heard in Europe, where prices continued to follow a downtrend last week. Fastmarkets' price assessment for MM...Read More
Key data from the pricing session in London on Friday April 5. Key drivers The European 553 silicon price fell 3.1% during the latest pricing session in a very low liquidity market in which some offers below the previous range started to emerge. The silicon grade 441 quotation also softened on a lack of liquidity...Read More
The price of steel rebar and wire rod exported from the Commonwealth of Independent States (CIS) decreased by $5 per tonne over the week, sources told Fastmarkets on Monday April 8.Fastmarkets' weekly assessment of the price of CIS export wire rod was $505-515 per tonne fob Black Sea on April 8, moving down from $510-520 per tonne fob a week earlier.The lower end of the assessment is reflective of...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets at the beginning of this week due to poor demand for finished steel and expectations of further prices decreases, sources said on Monday April 8.There was only one deal for scrap for import into Turkey last week, done on April 5. A steel producer in the Marmara region booked a European cargo, comprising 12,000 tonnes of...Read More
Turkish domestic scrap prices have gone down slightly over the past seven days in line with falling imported scrap values, sources said on Monday April 8.Fastmarkets' weekly price assessment for domestic auto-bundle (DKP-grade) scrap in Turkey was TRY1,695-1,870 ($301-332) per tonne delivered on Monday, widened downward from last week's TRY1,700-1,870 per tonne.This slight change came after a numb...Read More
Anglo American plans to use technology to push its standards to global benchmarks and then take them even further, allowing it to cut costs and improve productivity, Hennie Faul, chief executive officer of the mining company's copper business, has said.The UK-listed miner is seeking to ensure a continuous step-change in performance at its operations and has been working with what Anglo's chief exe...Read More
Progress in US-China trade negotiations over the weekendhelped push up base metals prices on the London Metal Exchange in early morning trading on Monday April 8. Further progress on US-China trade negotiations was reported over the weekend by Chinese state media CCTV. The overall tone was positive, with CCTV claiming that both sides are working on a draft to address technology transfers, pro...Read More
Fastmarkets hosted a free web seminar with the London Metal Exchange on Monday April 8 to introduce the new LME cobalt contract, cash-settled against Fastmarkets' benchmark cobalt price. If you missed it, follow the link below to listen to the free recording. Introducing the new Fastmarkets-settled LME cobalt contract During the web seminar we discussed: Fastmarkets' price discovery...Read More
The benchmark standard-grade cobalt price rebounded in the last week of March, after having been under pressure during the previous five months, when traders and consumers returned to the spot market to restock following a rundown in inventories.Price moves Fastmarkets' standard-grade cobalt assessment rose 2.2% to $13.75-14.4 per lb on Friday March 29, the last pricing session in March. The...Read More
Fastmarkets will change the calculation basis for the China cobalt sulfate, Co 20.5% min, ex-works adjustment to the standard-grade cobalt low-end price to 100% Co basis from the current Co 20.5% basis, effective on Wednesday April 10. In addition, Fastmarkets also will also change the name of this assessment to China cobalt sulfate, Co 20.5% min, ex-works, adjustment to standard-grade cobalt low-...Read More
The market for flat steel exports from the Commonwealth of Independent States (CIS) remained slow over the past week, with no change in prices, sources told Fastmarkets on Monday April 8.Fastmarkets' weekly price assessment for CIS-origin hot-rolled coil exports was unchanged at $500-515 per tonne fob Black Sea on April 8.Russia-origin HRC was on offer at $515 per...Read More
China's domestic and export prices for hot-rolled coil surged on Monday April 8 on improved sentiment, which took many overseas buyers by surprise.DomesticEastern China (Shanghai): 3,950-3,970 yuan ($588-591) per tonne, up 60-70 yuan per tonneNorthern China (Tianjin): 3,900-3,910 yuan per tonne, up 50-60 yuan per tonneThe day's price increases were largely attributed to the strength of the iron or...Read More
Here are five Fastmarkets MB stories you might have missed on Monday April 8 that are worth another look.The World Trade Organization handed a victory to Russia in a Ukrainian transit dispute in its first-ever ruling on a national security exemption, which could have profound implications for pending Section 232 disputes at the WTO and potential automobile tariffs to be imposed by United Stat...Read More
The price of steel rebar and wire rod exported from the Commonwealth of Independent States (CIS) decreased by $5 per tonne over the week, sources told Fastmarkets on Monday April 8.Fastmarkets' weekly assessment of the price of CIS export wire rod was $505-515 per tonne fob Black Sea on April 8, moving down from $510-520 per tonne fob a week earlier.The lower end of the assessment is reflective of...Read More
China's domestic and export prices for rebar increased sharply on Monday April 8 following gains in the billet and futures markets.Domestic Eastern China (Shanghai): 3,980-4,030 yuan ($592-600) per tonne, up 80 yuan per tonneNorthern China (Beijing): 3,950-3,980 yuan per tonne, up 40-50 yuan per tonneBuying interest picked up during the day amid increases in both the billet and futures markets, wh...Read More
The Turkish steel mills continued to stay away from the deep-sea scrap markets at the beginning of this week due to poor demand for finished steel and expectations of further prices decreases, sources said on Monday April 8.There was only one deal for scrap for import into Turkey last week, done on April 5. A steel producer in the Marmara region booked a European cargo, comprising 12,000 tonnes of...Read More