Years ago, the idea that machines would replace humans on the trading floor seemed far-fetched and the suggestion that algorithms might replace humans entirely ridiculous.But both have happened in some shape or form, making the advent of blockchain - now being vaunted as the next game-changer in technology - a lot more realistic than naysayers might initially think.Dozens of trials and projec...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
Next report is released on Wednesday. Pre-opening Comments for Monday December 24thU.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade. Investors are responding to partial shutdown of U.S. government services over the weekend. Volumes on equity markets are expected to be low today. U.S. equity markets close at 1:00 PM EST for the Christma...Read More
Aluminium billet premiums in Europe and Thailand moved lower on Friday December 21 on weaker demand and bearishness due to news that the US Treasury Department intends to remove sanctions against UC Rusal in January, while the US and Brazilian premiums were flat amid a seasonal pause in trading. European premiums tick lower on bearish view. Weak demand pressures premium in Thailand. US and Brazil...Read More
Base metals prices on the London Metal Exchange were predominantly lower at the close of trading on Friday December 21, pressured by a broad sell-off in global stock indices amid fears of a potential US government shutdown. Despite decreasing over 1% this morning, the S&P 500 index is trading 0.50% lower over the afternoon, while a modest recovery in the Dow Jones Industrial Average did little to...Read More
Comex copper prices slipped on Friday morning in the US amid the continued trade war between the US and China and Federal Reserve worries, which are weighing on the equity and commodity markets.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.45 cents to $2.6820 per lb.Yesterday, the Federal Reserve lifted interest rates once again and issued...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Rio Tinto has concluded the sale of its entire 40% stake in the Grasberg mine in Indonesia for $3.5 billion, as part of a series of transactions involving state-owned PT Indonesia Asahan Aluminium (PT Inalum) and Freeport-McMoRan Inc. PT Inalum previously held a 9.35% stake in Grasberg, the world's second largest copper mine. Fastmarkets MB previously reported on the sale of Rio Tinto's stake earl...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Global ferrous scrap prices continued to fall further during the week ending Friday December 21, after transactions were done at lower prices.Prices fell further in most scrap markets worldwide this week, with deals in Turkey and India concluded at lower levels, while Asian scrap prices slumped from limited demand and US prices remained flat for a second week.Turkey importsPrices co...Read More
Prices for light iron scrap in the United Kingdom were steady this week while the market processed a price reduction made last week to 5C and monthly prices due to ongoing market headwinds, sources told Fastmarkets on Friday December 21.Fastmarkets' weekly price assessment for UK grade-5C ferrous scrap on an inter-merchant basis was ?65-95 ($82-120) per tonne on December 21, flat week on week, bu...Read More
The price of shredded ferrous scrap imported into India fell further this week, with fresh deals bringing the index to a year-to-date low, market participants said on Friday December 21.Fastmarkets MB's weekly index for containerized imports of shredded scrap into India was $331.98 per tonne cfr Nhava Sheva on December 21, down from $337.50 per tonne cfr Nhava Sheva on December 14. Continued poor...Read More
Comex copper prices slipped on Friday morning in the US amid the continued trade war between the US and China and Federal Reserve worries, which are weighing on the equity and commodity markets.The copper price for March settlement on the Comex division of the New York Mercantile Exchange dipped 1.45 cents to $2.6820 per lb.Yesterday, the Federal Reserve lifted interest rates once again and issued...Read More
The three-month base metals prices on the London Metal Exchange were mainly firmer this morning, Friday December 21, the exception being nickel which was down by 0.5%. Copper, aluminium, zinc and tin were up by between 0.2% and 0.3%, with lead little changed. The three-month copper price was up by 0.2% at $6,032 per tonne.Volume across the complex has been below average with 4,508 lots traded as a...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Chinese domestic spot battery-grade lithium carbonate prices held steady this week with most producers still negotiating next year's spodumene prices, prices in other regions were subdued in quiet end-of-year conditions. Battery-grade lithium carbonate prices were steady at year-end. Lithium hydroxide buyers cited sufficient spot supply as the reason for staying out of the market. Indust...Read More
Brazil's apparent steel consumption increased by 6.90% year on year in November, to 1.70 million tonnes, mostly due to an improved performance in the flat steel sector, according to the national steel association A??o Brasil.Apparent consumption of flat steel products grew by 11.70% in the same comparison, to 1.10 million tonnes, while long steel use declined by 0.80% year-on-year, to 606,000 tonn...Read More
Indian flat steel producers slashed domestic hot rolled coil prices by 1,000 rupees ($14)per tonne this week following a slump in demand across all sectors.Fastmarkets' price assessment for domestic HRC in India was 42,000-42,500 rupees per tonne ex-mill on Friday December 21, a reduction of 1,000 rupees per tonne compared with last week's 43,000-43,500 rupees per tonne ex-mill.An offici...Read More
Fastmarkets MB hosted the 22nd Middle East Iron & Steel conference in Dubai last week. Here are five things we learned...1 High-grade iron ore derivative will be an important tool for Middle East DRI industry A world-first 65% iron ore derivative launched by the Singapore Exchange in early December was hailed as an important hedging tool for the Middle East direct-reduced ironmaking (DRI) industry...Read More