European distributors of flat steel products reported a 3.1% year-on-year drop in shipment volumes in 2018, Eurometal said this week. "Shipments decelerated mainly in the second half of 2018, with mounting uncertainties regarding the European automotive industry and related supplier sectors," the regional federation for steel, tube and metals distribution and trade, said on Monday February 4. ...Read More
The CIS export price for steel billet continued to move upward at the start of the week beginning on Monday February 4, with mills pushing offers higher amid a global rise in raw materials prices.Offers of March-rolling billet from Russian and Ukrainian mills were heard within the range of $435-440 per tonne fob Black Sea, up from 430-440 per tonne fob at the end of last week.The rise in global sc...Read More
Major global steel slab markets are set to recover in February after a months-long downturn, with suppliers raising their offers amid higher prices of iron ore and ferrous scrap as well as limited slab availability, participants told Fastmarkets on Monday February 4.CISMarket participants were positive in their forecasts of export prices from the Commonwealth of Independent States (CIS), following...Read More
Brazilian iron ore miner Vale will halt operations at the Vargem Grande complex sooner than was scheduled, the company said on Monday February 4.This was one of the mines already included in the company's decommissioning plan for tailings dams, but its stop has been brought forward, Vale added. Mine output has been stopped immediately although the decommissioning process could take two or three ye...Read More
Comex copper prices in the United States shrugged off earlier losses in morning trading on Tuesday February 5, with the base metals complex temporarily boosted by the lack of Chinese participation while the East Asian country begins its Lunar New Year holiday.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rebounded by 2.20 cents on February 5 to $2....Read More
Base metals prices on the London Metal Exchange were mixed during morning trading on Tuesday February 5, with most metals consolidating gains made at Monday's close while low stocks and a weaker dollar fail to prompt upward price action. Across afternoon trading on Monday, nickel, zinc and lead futures rallied to reach fresh highs, with low liquidity due to the Chinese New Year holidays contributi...Read More
Oversupply continued to push European cobalt metal prices downward in January 2019, with buyers stepping back from the spot market amid a shared negative outlook.Meanwhile, the Chinese price for cobalt sulfate ticked upward because of stockpiling before the Lunar New Year holiday, February 4-10.Price movesThe cobalt benchmark price moved below $20 per lb in late January, with persistent selling pr...Read More
Trades of small volumes led to a small fall in manganese ore prices in the week ended Friday February 1, while most producers expect to return to the market after the Chinese New Year holiday (February 4-10). Low- and high-grade manganese ore prices in China tick down Low grade fob ore index stable due to freight rate fall Tight supply supports silico-manganese price in Europe H...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for fourth quarter U.S. Productivity was growth at a 1.6% annual rate versus growth at 2.3% in the third quarter. Actual was growth at a 1.3%. Consensus for U.S. November Trade Deficit was $54...Read More
Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of Congo (DRC), an executive at Ford said. Using technology by IBM and overseen by responsible-sourcing group RCS Global, Ford and its partners are working to ensure that the cobalt used in lithium-ion batteries...Read More
Automaker Ford Motor Co has no current plans to take stakes in mining assets or secure direct offtake agreements with mining firms in order to produce batteries for electric vehicles, although it hasn't ruled it out entirely. Ted Miller, senior manager for energy storage strategy and research at the Michigan, US-based company, said Ford had "considered all options" and ultimately opted for a more...Read More
Base metals prices on the London Metal Exchange were predominantly higher at the close on Monday February 4, with nickel, zinc and lead surging while aluminium closed above $1,900 per tonne. The three-month nickel price rallied to its highest since August 2018 above $13,000 per tonne.According to LME data, one dominant position remains in place at 50-79% across total LME nickel stocks, tom/next an...Read More
The stronger currencies of China and South Africa pushed prices of UG2 chrome ore higher last week. UG2 chrome ore tick up alongside stronger yuan and randAlloy prices hold steady in ChinaAlloy prices weaken in Japan and South Korea European price range widens Alloy prices climb in US UG2 chrome ore prices rose in China on Friday February 1 due to the strengthening of the yuan and the ra...Read More
The latest ferro-vanadium and vanadium pentoxide (V2O5) transactions, bids, offers and assessments in Europe and China. To view the latest price assessments, follow the links below: Europe - Ferro-vanadium, delivered duty-paid in Europe, $ per kg V - Vanadium pentoxide, in-warehouse Rotterdam, $ per lb V2O5 China - Ferro-vanadium, 78% min, fob China, $ per kg V - Vanadium pentoxide, 98% min, fob C...Read More
Automaker Ford Motor Co, China's Huayou Cobalt and South Korean battery supplier LG Chem have joined forces in a blockchain project to monitor cobalt supplies from the Democratic Republic of Congo (DRC), an executive at Ford said. Using technology by IBM and overseen by responsible-sourcing group RCS Global, Ford and its partners are working to ensure that the cobalt used in lithium-ion batteries...Read More
Automaker Ford Motor Co has no current plans to take stakes in mining assets or secure direct offtake agreements with mining firms in order to produce batteries for electric vehicles, although it hasn't ruled it out entirely. Ted Miller, senior manager for energy storage strategy and research at the Michigan, US-based company, said Ford had "considered all options" and ultimately opted for a more...Read More
Turkish deep-sea scrap import prices went up on Monday February 4 after a new cargo booking was heard, sources told Fastmarkets.A cargo came to light on Monday which was reported to have sold on Friday, but after the submission deadline for that day's indices.A steel mill in the Izmir region booked a European cargo comprising...Read More
Domestic scrap prices in Turkey have increased over the past seven days, in line with higher costs for imported scrap, sources said on Monday February 4.Fastmarkets' weekly price assessment for domestic auto bundle (DKP-grade) scrap was TRY1,595-1,690 ($306-324) per tonne delivered on February 4, rising from TRY1,500-1,660 per tonne last week.https://www.metalbulletin.com/My-price-book.html?Price=...Read More
The South African government should consider recapitalizing the country's state-owned power utility, Eskom, as part of a plan to turn it around, the company's chief executive officer has said.Phakamani Hadebe told Fastmarkets during an on-stage interview at the 25th Mining Indaba in Cape Town, South Africa, that discussions were continuing with Eskom's main shareholder on how best to help the comp...Read More
The price for copper in the United States market fell in morning trading on Monday February 4 on a lack of fresh news about the US-China trade war, Fastmarkets heard.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped by 0.60 cents on Monday to $2.7670 per lb.Market participants kept their focus on any new developments in the US-China trade battle...Read More