The Ontario Securities Commission (OSC) is to hold a hearing on Tuesday December 18 to consider the approval of a settlement following an investigation into Katanga Mining Limited and several of its executives.The OSC inquiry has been investigating whether Katanga's previously filed periodic public disclosures contain statements that are misleading in a material respect, along with the adequacy of...Read More
China's recycled copper production is expected to reach 3.5 million tonnes per year by 2020, up 9% from 2017, according to Zhang Xizhong, vice president of the recycling branch of China's non-ferrous metals association CNMIA.China processed about 3.2 million tonnes of recycled copper in 2017, Zhang told delegates at an annual industry conference late last week. In 2017, that recycled mat...Read More
Christian Keidel joined downstream aluminium product producer Aludium at the start of December in the role of metal management director, Fastmarkets MB understands.Prior to joining Aludium, which comprises three former Alcoa mills in Spain and France, Keidel had been in...Read More
The Comex copper price fell in morning trading on Monday December 17 amid quiet trading conditions and uncertainty surrounding the future of American monetary policy. The copper price for March settlement on the Comex division of the New York Mercantile Exchange fell 2.70 cents to $2.7355 per lb. US market participants are awaiting the Federal Reserve's Wednesday decision on another rate hike. Glo...Read More
As a result of a technical error, Fastmarkets MB's copper concentrate treatment charges (TC) and refining charges (RC) indices for December 14 were published late on the Fastmarkets price book.Fastmarkets' copper concentrate index dropped by $2.60 per tonne/0.26 cents per lb to $86.20 per tonne/8.62 cents per lb on Friday December 14 from the end of last month.To provide feedback on the delayed pu...Read More
South Korea's Public Procurement Service (PPS) has floated a tender to procure 1,000 tonnes of good western primary aluminium, according to a notice posted on the state-run agency's website on Thursday December 13.The tender seeks high-grade good western aluminium of London Metal Exchange-registered brands, excluding those from China, India, Russia and Egypt, and for shipment to Incheon port by Ma...Read More
The latest metal markets news and price moves to start the North American day on Monday December 17. Base metals price on the London Metal Exchange were mostly lower during morning trading, with most metals broadly rangebound during the low-volume morning session, while looming US-China trade tensions keep investors cautious.The three-month aluminium price consolidated lower and continues to trade...Read More
Prices for steel plate in the United States continued to hold their ground over the past week, while mills were hinting at another price hike in January 2019, according to market participants.Fastmarkets AMM's price assessment for cut-to-length plate was unchanged at $49.50 per hundredweight ($990 per short ton) on Friday December 14. Lead times averaged five to six weeks, sources said, with...Read More
Fastmarkets MB organized a North Africa Steel Summit on Thursday December 13 in Dubai, which immediately followed the Middle East Iron and Steel Conference.What follows are the main topics discussed at the summit by two key Egyptian speakers.1) Egypt has over 13 million tonnes per year of steel production capacity, which according to Nourhan Ashry, vice president at Ashry Steel - Egyptian tube and...Read More
Major Vietnamese integrated steel producer Formosa Ha Tinh Steel Corp is undercutting international competitors with its new hot-rolled coil (HRC), billet and wire rod offers for February delivery and shipment.The company's hot-rolled products are being offered at very competitive levels to the domestic and regional markets, at either in line with prices for cargoes from international origins, or...Read More
Turkish domestic scrap prices have continued to slip lower in line with the falling finished steel prices over the past week, sources said on Monday December 17.Fastmarkets MB's weekly price assessment for domestic auto bundle (DKP grade) ferrous scrap was TRY1,490-1,710 ($278-319) per tonne delivered, widening down from TRY1,590-1,710 per tonne on December 10.Several steel mills in the country cu...Read More
United States-based specialty chemicals company Albemarle Corp has signed a deal that creates a joint venture with Mineral Resources Limited (MRL) to develop a battery-grade lithium hydroxide plant in Western Australia. The $1.15 billion agreement gives Albemarle a 50% stake in MRL's Wodgina hard rock lithium mine and will see the companies eventually develop an integrated lithium hydroxide operat...Read More
Physical iron ore prices were mixed on Monday December 17 after a jump above $70 per tonne cfr China last Friday.MB 62% Fe Iron Ore Index: $70.74 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Pilbara Blend Fines Index: $70.27 per tonne cfr Qingdao, down $0.27 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $72.04 per tonne cfr Qingdao, down $0.13 per tonne.MB 58% Fe Premium Index: $63.67 p...Read More
Seaborne iron ore concentrate and pellet prices recorded a mixed performance in the week to Friday December 14.Fastmarkets' weekly MB 66% Fe Iron Ore Concentrate Index stood at $87.61 per tonne cfr China last Friday, up by $1.53 per tonne from December 7.The daily Fastmarkets MB 65% Fe Iron Ore Index averaged $83.60 per tonne cfr China last week, compared with an average of $82.96 per tonne cfr Ch...Read More
The seaborne coking coal spot market started the week on a quiet note, with the price difference between the Chinese and ex-China markets leaving participants baffled on Monday December 17.In the meantime, a South Korean steelmaker and a major miner have agreed on a contract price of $145 per tonne fob Australia for shipments of low-vol pulverized coal injection (PCI) materials made in the October...Read More
Fortescue Metals Group (FMG) has made the first shipment of its new 60.1% Fe West Pilbara fines. The maiden shipment of the product departed from Western Australia's Port of Port Hedland for China's Hunan Valin Steel, the miner said on Sunday December 16.The first few months of shipments of West Pilbara fines have been priced against a 62% Fe index...Read More
China's steel futures fell during morning trading on Monday December 17 while the raw materials contracts were largely steady.Futures closing prices - morning session Shanghai Futures Exchange May rebar: 3,419 yuan ($495) per tonne, down 34 yuan per tonneMay hot-rolled coil: 3,430 yuan per tonne, down 33 yuan per...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Monday December 17.Base metals prices on the Shanghai Futures Exchange were broadly higher during Asian morning trading on Monday, with zinc and nickel registering the biggest gains. Tin and lead bucked the trend to weaken slightly.There was a slightly firmer tone across the SHFE base metals c...Read More
The latest news and price moves to start the Asian day on Tuesday December 18.Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Monday December 17, capped by broad strength in the US dollar index while investors remain cautious ahead of the the forthcoming Federal Reserve meeting in the United States. Read more in our live futures report.Here are how pric...Read More
Base metals price on the London Metal Exchange were mostly lower during morning trading on Monday December 17, with most metals broadly rangebound during the low-volume morning session, while looming US-China trade tensions keep investors cautious. The three-month aluminium price consolidated lower and continues to trade below $1,950 per tonne, shrugging off a 5% increase in LME stocks after just...Read More