Turkish deep-sea scrap import prices were unchanged on Friday February 1, with no new bookings on the day after a large volume of material was booked earlier in the week, sources told Fastmarkets.With 17 cargo bookings confirmed this week, Turkish mills have recently bought more than 240,000 tonnes of HMS 1&2, as well as several thousand tonnes of shredded, bonus and other grades.Bookings were hea...Read More
Base metals prices on the London Metal Exchange consolidated lower during morning trading on Friday February 1, hampered by weaker-than-expected Chinese PMI data and while the Chinese New Year holiday next week kept Asian markets idle. Copper's three-month price fell the furthest out of the base metals complex this morning, retreating toward $6,100 per tonne after reaching an intra-morning high of...Read More
There was little activity in the seaborne coking coal market on Friday February 1 amid uncertainties following the emergence of new import restrictions at ports in northeastern China. A March-loading cargo of premium mid-vol hard coking coal was traded at a premium that is slightly above 0.5% against a basket of indices, Fastmarkets heard.In China, the trading lull has set in again with the Chines...Read More
Arbitrage for copper, aluminium, zinc and nickel imported into China on Friday February 1 *Copper -$140.86 (-951.45 yuan) Aluminium -$367.71 (-2,483.82 yuan) Zinc -$60.30 (-407.32 yuan) Nickel -$345.27 (-2,332.26 yuan) *Fastmarkets calculates the physical arbitrage for import into China daily by using SHFE front-month and LME three-month...Read More
China's hot-rolled coil prices remained flat on Friday February 1, with the market quietening down on the approaching Chinese New Year holiday next week.DomesticEastern China (Shanghai): 3,780-3,800 yuan ($564-567) per tonne, unchangedNorthern China (Tianjin): 3,720-3,740 yuan per tonne, unchangedFew traders remained active in the market during the day, with most of them starting their break well...Read More
An overview of the minor metals markets and the reasons for any price moves. Read More
The following Fastmarkets minor metals prices changed on Friday February 1:Minor metals Bismuth MB free market, $/lb: $3.70-4.20 per lb from $3.70-4.10Cadmium MB free market min 99.95%, cents/lb: 127-132 cents per lb from 125-130 centsCadmium MB free market min 99.99%, cents/lb:...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment, click here.To see all Fastmarkets' pricing methodology and specification...Read More
An overview of the Chinese minor metals markets and the reasons for any price moves.Read More
A summary of Glencore's production results for the year ended December 31, 2018, as well as its production guidance for 2019.In briefThe year-on-year rises in copper and cobalt production were mainly attributed to the restart of Glencore's Katanga processing operations in late 2017. The company's copper sales in 2018 were 22,000 tonnes lower than production...Read More
Further weakness in China's Caixin manufacturing purchasing managers' index (PMI), that fell to 48.3 in January from 49.7 in the prior month, was enough to dent confidence in the base metals market this morning, Friday February 1, with prices for the most part weaker as a result. Three-month base metals prices on the London Metal Exchange were down by an average of 0.3% this morning, with aluminiu...Read More
China's crude stainless steel output rose 3.6% to a new high in 2018, according to data released by the China Stainless Steel Council.The country produced 26.71 million tonnes of crude stainless steel last year, up 940,000 tonnes from 25.77 million tonnes a year earlier, according to the statistics released late on Thursday January 31. Of the total, 48% or 12.82 million tonnes consisted of 300-ser...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday February 1:Aluminium scrapCast: ?,?960-1,010 per tonne from ?,?970-1,010Aluminium ingotDuty paid delivered...Read More
Asian ferrous scrap prices are riding on surges in iron ore prices and much-needed restocking activity by steel mills and are continuing on an upward trend, Fastmarkets heard on Friday February 1.The bullish sentiment in the iron ore markets has spilled over into the scrap markets. Traders have hurriedly raised their offer prices in response to stronger demand for more steelmaking raw materials fr...Read More
The import price for steel billet in Southeast Asia on Friday February 1 was stable day on day due to sluggish trading activity, although on a weekly basis the price inched up amid sparse offers received this week.Fastmarkets' daily import price assessment for billet in Southeast Asia was $450-460 per tonne cfr Manila on Friday, unchanged from Thursday. But week on week the range widened upward by...Read More
Base metals prices on the London Metal Exchange were collectively higher day on day at the close of trading on Thursday January 31, with a softer US dollar and improved trade sentiment supporting commodity investment.Copper's three-month price continued on an upward trend throughout afternoon trading, with total volumes topping the complex and more than 18,000 lots changing hands by the close.Pric...Read More
Comex copper prices moved higher on Thursday morning in the United States, with an improving macroeconomic backdrop lifting the entire base metals complex.The copper price for March settlement on the Comex division of the New York Mercantile Exchange rose 2.25 cents to $2.79 per lb. "The improved macroeconomic backdrop has provided risk sentiment with a good bullish vibe, allowing the red met...Read More
Zinc gained more than 1% in morning trading on the London Metal Exchange on Thursday January 31, breaching technical support at its 100 DMA for the first time since July 2018 amid continued stock drawdowns and cancelations. Volumes were decent at more than 5,000 lots as of 10:00am London time, just behind copper's 5,800 lots. Easing tightness in zinc's cash/three-month spread, which has narrowed t...Read More
In Zhuzhou - former home of China's top zinc smelter - the skies aren't exactly blue, but they're starting to clear up. Today the city in Hunan province registered an air quality index of close to 250, regarded as "very unhealthy". Still, the index, which measures particulate matter PM2.5, was close to 280 at the same time last year. It was home to the Zhuzhou Smelter Group, the world's fifth larg...Read More
Bushveld Minerals Ltd increased annual revenues from vanadium mining by 142.7% in 2018 to $192.2 million on higher vanadium prices, the integrated South African producer announced on Wednesday January 30.However, the notably lower 32.9% increase between the third and fourth quarters, for fourth quarter revenues of $60.2 million, reflected vanadium prices coming off of a historic peak.For example,...Read More