Arbitrage for copper, aluminium, zinc and nickel imported into China on Thursday March 07 *Copper -$172.72 (-1,161.42 yuan) Aluminium -$270.74 (-1,820.57 yuan) Zinc -$169.95 (-1,142.80 yuan) Nickel -$98.74 (-663.99 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Thursday March 7.With the exception of tin that was up by 0.5% and aluminium that was little changed, the rest of the complex were down between 0.2% for lead and 1.4% for nickel.Copper was off by 0.4% at $6,428 per tonne, compared with $6,455 per tonne at Wednesday's close, while nickel ha...Read More
Trade log for nickel sulfate in China including transactions, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are yuan per tonne on an ex-works basis. Fastmarkets MB prices Click here for Fastmarkets MB's price assessment...Read More
Reinforcing bar (rebar) steel prices have risen in the United States following late-February's mill hikes, while import prices have fallen following confirmed offers for Italian material. Fastmarkets' assessment for domestic rebar increased to $35.25-36.50 per hundredweight ($705-730 per short ton) fob mill on Wednesday March 6, up by 2.6% from $34.25-35.75 per cwt previously. At the same time, th...Read More
Turkish billet prices have remained firm over the past week with moderate demand in the export markets. But the domestic and import markets were comparatively weaker, sources said on Thursday March 7.Fastmarkets' weekly price assessment for billet exports was unchanged week on week at $450-460 per tonne fob on Thursday.The Turkish mills were heard to sell a number of billet cargoes for export this...Read More
The Turkish long steel export market remained weak over the past seven days on sluggish demand, while increasing raw materials costs continued to squeeze mill margins, sources told Fastmarkets on Thursday March 7.Fastmarkets' weekly price assessment for rebar exports out of Turkey remained unchanged at $470-480 per tonne fob on an actual weight basis.Steel producers in Turkey continued to offer re...Read More
Steel billet import prices in Egypt have increased over the past seven days with higher offers and deal prices, sources told Fastmarkets on Thursday March 7.Fastmarkets' weekly price assessment for steel billet imported into Egypt was $470-475 per tonne cfr on Thursday, rising from $465-470 per tonne cfr last week.The rise can be attributed partly to a decree issued by Egypt's ministry of trade an...Read More
China's hot-rolled coil exporters were insisting on higher offer prices on Thursday March 7 despite the slight drop in the domestic spot market, with most sellers feeling little need to export.DomesticEastern China (Shanghai): 3,820-3,840 yuan ($569-572) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,750-3,770 yuan per tonne, down 20 yuan per tonneShanghai sellers began the...Read More
Turkish steel producers continued to replenish low stock levels by booking more deep-sea scrap at firm prices, sources told Fastmarkets on Thursday March 7.A steel mill in the Marmara region booked a US cargo comprising 32,000 tonnes of HMS 1&2 (80:20) at $322 per tonne, 5,000 tonnes of shredded at $327 per tonne and 3,000 tonnes of bonus at $332 per tonne cfr.This was...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 oreVale, Beijing Iron Ore Trading Center (Corex), 100,000 tonnes of 65% Fe Iron Ore Carajas, traded at $99.70 per tonne cfr China, laycan February 27-March 8.BHP, Global Ore, 80,000 tonnes of 62% Fe Jimblebar fines, traded at...Read More
Iron ore prices rose on Thursday March 7 in line with futures market gains following data releases showing a decline in steel inventories in the market. MB 62% Fe Iron Ore Index: $87.61 per tonne cfr Qingdao, up $0.56 per tonne. MB 62% Fe Pilbara Blend Fines Index: $87.01 per tonne cfr Qingdao, up $0.56 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $90.01 per tonne cfr Qingdao, up $0.93 per ton...Read More
The seaborne coking coal spot market moved sideways on March 7 following trades that concluded at similar levels compared with previous trades in the week.A cargo of premium mid-vol hard coking coal cargo changed hands at $210.75 per tonne fob Australia, up $0.75 per tonne from a similar cargo that traded earlier in the week, sources said.Meanwhile, there was talk in the market that rail operation...Read More
Domestic stainless steel prices in China maintained their upward trend over the past week on higher nickel prices and strengthening demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 15,100-15,500 yuan ($2,249-2,309) per tonne including value-added tax for the week ended Wednesday February March 6, up 400 yuan per tonne fr...Read More
Base metals prices on the Shanghai Futures Exchange dipped slightly during morning trading on Thursday March 7, with nickel leading the losses. However, copper bucked the trend amid a positive outlook for the red metal.SHFE base metals prices showed slight losses this morning, pressured by the stronger dollar, which was at 96.86 this morning at 10.20am Shanghai time.This compares with the dol...Read More
Global zinc premiums have been little changed over the past week with a worsening Chinese import arbitrage distorting the marketplace for the world's largest base metals consumer, Fastmarkets heard on Wednesday March 6. European zinc premiums near October 2010 lowUS markets stable with lead and zinc demand healthyChinese markets suffering from arbitrage window. Northern European zinc premiums stay...Read More
South African state power utility Eskom has received approval for power price increases of 22.7% over the next three years, and on the same day warned of a high risk of load shedding.Eskom, which has 420 billion rand ($29.53 billion) of debt, can increase electricity prices by 9.41% in 2019/20 and by 8.1% and 5.2% respectively in the two subsequent years, according to a decision by South African e...Read More
Stagnant spot activity continued to weigh on the cobalt sulfate price in China, with spot offer prices marching lower in the mid-week assessment on Wednesday March 6 amid persistent selling pressure. Fastmarkets assessed the Chinese cobalt sulfate, basis 20.5% Co market price at 57,000-60,000 yuan ($8,491-8,938) per tonne on March 6, down by 3,000-4,000 yuan per tonne or 5.6% from 60,000-64,000 yu...Read More
Fastmarkets summarizes six hot topics that will likely dominate discussions during the 20th Asian Ferro-alloys Conference in Hong Kong on March 10-12.What might weigh on the minor metals markets in 2019? This year's conference kicks off on Sunday March 10 with a minor metals briefing day, and no doubt participants in those respective markets will be eager to discuss whether stocks of metals such a...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker again this morning, Friday March 8, and weak Chinese trade data has not helped sentiment.With the exception of aluminium that was up by 0.1%, the rest of the complex were down between 0.2% for tin and 0.7% for nickel and zinc. Copper was off by 0.5% at $6,403 per tonne, compared with $6,435 per tonne at Thurs...Read More
Share this articleAn underground driller at work at the now closed Max molybdenum mine near Trout Lake, British Columbia. Note the veins of massive molybdenite. Photo Courtesy Roca Mines Inc.Cameo Cobalt Corp. [CRU-TSX; CRUUF-OTC; SY7N-FWB] shares were active Thursday March 7after the company said it had closed the previously announced acquisition of the Max Mine and Willa properties. Both are loc...Read More