Export prices for Chinese hot-rolled coil edged up further on Wednesday February 20, with exporters insisting on high offers amid expectations that the domestic market - though it weakened during the day - would pick up due to rising costs upstream.DomesticEastern China (Shanghai): 3,720-3,750 yuan ($550-554) per tonne, down 30 yuan per tonneNorthern China (Tianjin): 3,670-3,700 yuan per tonne, do...Read More
The three-month base metals prices traded on the London Metal Exchange were stronger across the board with gains averaging 0.3% on the morning of Wednesday February 20, compared with Tuesday's closing levels.Copper has generally led the move higher in recent days with prices reaching a high of $6,350.50 per tonne this morning, which has taken it well into the resistance area on the chart that lies...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Tuesday February 20*Copper -$147.03 (-991.62 yuan)Aluminium -$323.54 (-2,182.07 yuan) Zinc -$95.16 (-641.77 yuan) Nickel -$290.43 (-1,958.73 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month prices...Read More
The following Fastmarkets minor metals prices changed on Wednesday February 20:Minor metalsCadmium MB free market min 99.99%, cents/lb: 137-145 per lb from 136-143Cobalt MB free market alloy grade, $/lb: $15.90-17.35 per lb from $15.90-17.95Cobalt MB free market standard grade,...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Minor metals producer Vital Materials has reached a final agreement with French company Orrion Chemicals for the acquisition of bismuth specialties activity supported by Spanish entity Orrion Chemicals Bischem (OCB), Vital said on Wednesday February 20.The transaction will be concluded in the coming weeks, it added.OCB is located near to Barcelona, in Canovelles, and is dedicated to the manufactur...Read More
Glencore has reported modest increases in ferro-alloys earnings and production for 2018, underpinned by a stellar stainless steel market. Earnings before interest, tax, appreciation and amortization at the trader-miner's ferro-alloys division rose 2% year on year to $670 million, the company said on Wednesday February 20.Ferro-chrome production reached 1.59 million tonnes, up 3% year on year. Glen...Read More
Import prices for stainless steel in East Asia inched up over the past week, with the upward momentum in regional prices subsiding on soft demand, sluggish spot trading and the stable nickel market.Fastmarkets MB's weekly import price assessment for 304 stainless 2mm trimmed cold-rolled coil (CRC) in East Asia was $1,990-2,090 per tonne cif on Wednesday February 20, up $10 per tonne from a week ea...Read More
Key data from the Wednesday February 20 pricing session in Europe. Key drivers The European ferro-titanium spot price increased, with prices moving up on the low end of the range, after supply worries involving a major supplier prompted short-covering. Ferro-titanium producers and traders say they have been getting more buying interest from Europe and the United States. The producer typicall...Read More
A correction is underway in the three-month base metals prices traded on the London Metal Exchange with prices off by an average of 0.5% on the morning of Thursday February 21, compared with Wednesday’s closing levels. This morning’s price pullbacks follow a day of strength on Wednesday when the complex closed up with gains averaging 1.2%, which saw copper pushed up through the top of re...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 6 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 225,000 versus 239,000 last week. Actual was 216,000. Consensus for December Durable Goods Orders was an increase of 1.5% versus a gain of 0.8% in November. A...Read More
Wide contangoes on the London Metal Exchange were supporting global aluminium premiums on Tuesday February 19, with premiums in Europe, the United States and Japan all rising. Contango on LME offsets slow demand for duty-unpaid metal in Europe.Market participants in Asia expect higher premiums on wide spreads.US Midwest premium increases week-on-week in liquid market.Brazil aluminium premiums mixe...Read More
A summary of base metals premiums from across the globe for the week to Tuesday February 19.Please click...Read More
A consortium of metals and mining industry participants has teamed up with a blockchain technology firm to develop a platform to improve supply chain management and create efficiencies in the sector.Following its series on the role of blockchain in commodities trade finance, Fastmarkets looks next at the digitization of supply chain management.A consortium of metals and mining industry participant...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 19 that are worth another look.The London Metal Exchange has released the fees for its new cash-settled futures contracts to be launched on March 11, three of which - an aluminium premium contract, an alumina futures contract and a cobalt contract - are settled against Fastmarkets MB price benchmarks. Hot metal rem...Read More
Chinese exporters were seen raising vanadium offer prices amid stronger sentiment following the market's return from the Chinese New Year holidays, sources told Fastmarkets.Chinese vanadium export offers tick up European ferro-vanadium market flat on inactivity European vanadium pentoxide (V2O5) prices firm following stronger Chinese sentiment US ferro-vanadium prices widen amid activity incr...Read More
A consortium of metals and mining industry participants has teamed up with a blockchain technology firm to develop a platform to improve supply chain management and create efficiencies in the sector.Following its series on the role of blockchain in commodities trade finance, Fastmarkets looks next at the digitization of supply chain management.A consortium of metals and mining industry participant...Read More
The London Metal Exchange has released the fees for its new cash-settled futures contracts which will be launched on March 11, three of which are settled against Fastmarkets MB benchmarks.The cash-settlement fee for the aluminium premiums contracts will be $0.35 per leg, per side of the trade, per lot, the LME said on Tuesday February 19. The aluminium premiums suite includes a duty-unpaid Eu...Read More
The Turkish scrap import market continued to be quiet on Tuesday February 19 because of the slow rebar and billet sales in the country, sources told Fastmarkets.The mills in the country were still struggling to sell rebar and billet in both the domestic and export markets, so they were delaying their raw material purchases, Fastmarkets heard."Turkish producers were expecting to sell some rebar to...Read More
A consortium of metals and mining industry participants has teamed up with a blockchain technology firm to develop a platform to improve supply chain management and create efficiencies in the sector.Following its series on the role of blockchain in commodities trade finance, Fastmarkets looks next at the digitization of supply chain management.A consortium of metals and mining industry participant...Read More