Base metals price changes on the London Metal Exchange were mixed at the close of trading on Wednesday November 21, with positive moves in copper, lead and zinc futures contrary to the continued slide in nickel, while the complex remained broadly impervious to continued strength in the US dollar index.Lead futures improved amid a nine-year low in total LME inventory, rising by 2.2% over the day's...Read More
The London Metal Exchange is planning to launch a lithium contract in the second half of 2019 to meet growing demand from the electric vehicle industry, Fastmarkets learned during Asia Copper Week in Shanghai. The contract, announced as part of the exchange's Strategic Pathway in September 2017, will be settled against an index price, with Fastmarkets MB's lithium spot price index one of those bei...Read More
Base metals on the London Metal Exchange were all higher during morning trading on Wednesday November 21, with risk-averse investors capitalizing on lower prices earlier in the week amid a slight downturn in the US dollar and continued uncertainty over US-China trade relations.Climbing just under 1% over the morning, copper's three-month price pushed back above $6,200 per tonne while volumes remai...Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 21, while concerns over the import quotas imposed by the European Commission (EC) continued to grow.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe stayed at ?,?540-560 ($616-639) per tonne delivered on Wedne...Read More
The latest news and price moves to start the Asian day on Thursday November 22.Base metals price changes on the London Metal Exchange were mixed at the close of trading on...Read More
Zinc premiums narrowed in Southeast Asia but were stable elsewhere in the week ended Tuesday November 20 after zinc forward price spreads became the most widely backwardated since at least 2004. Lead premiums dropped in Taiwan, with lower offers moving levels down. Zinc cash/three-month price spread backwardation soars to $98 per tonne Taiwan lead premium falls pressed by increase in I...Read More
China continues to rely heavily on imported bauxite, with imports set to reach a five-year high of 70 million tonnes this year, Pi Jianqing, deputy manager of the non-ferrous department of Hanzhou Jinjiang Group, said last week. "China is expecting to import 70 million tonnes of bauxite in 2018. This [is the highest] since 2013, when the market stockpiled large quantities of bauxite on tightness c...Read More
Trafigura's rescue package for Nyrstar comes at a price, with the trader taking greater ownership of one of the world's largest zinc smelter's prized assets in return for helping it bridge a nine-day liquidity crunch. Nyrstar announced on Wednesday November 21 that its biggest shareholder, Trafigura, had granted it a committed working capital facility of $650 million, effective November 30. The Be...Read More
Comex copper prices bounced back during the midweek trading session with a softer dollar and technical support boosting the red metal.The copper price for December settlement on the Comex division of the New York Mercantile Exchange gained 1.20 cents to $2.7785 per lb.Prices could be volatile today with market participants sidelined due to the upcoming...Read More
Daily PDFs will be downloadable until Thursday November 22. After that, because of a public holiday, the next daily PDF will be downloadable on Tuesday November 27, 2018. Read More
China's Belt and Road Initiative is expected to generate around 6.5 million tonnes of copper demand across more than 60 Asian and European countries over 2018-2027, according to new research from MarchWin Consulting as commissioned by the International Copper Association (ICA). The Belt and Road Initiative was first unveiled by Chinese President Xi Jinping in 2013 and aims to strengthen infrastruc...Read More
The price for rebar produced and delivered in Southern Europe widened slightly on Wednesday November 21, although consumers remained unwilling to buy large volumes because questions persist about the European Commission's import quotas.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe widened upward to ?,?530-540 ($605-616) per tonne delivered on Wednesday, from ?,?530-535...Read More
The price for rebar produced and delivered in Northern Europe stayed flat on Wednesday November 21, with consumers not willing to commit to purchases during a time of uncertainty in the markets.Fastmarkets' weekly price assessment for domestic rebar in Northern Europe stayed at ?,?550-560 ($628-639) per tonne delivered on Wednesday, unchanged now for three weeks, after producers resisted lowering...Read More
Domestic prices for steel beams in Europe were stable this week, although feedstock costs have started to fall, sources told Fastmarkets on Wednesday November 21.Fastmarkets' weekly price assessment for domestic S235-grade, 200x200mm, category-2 H-beam in Northern Europe was ?,?620-645 ($708-736) per tonne delivered on Wednesday, unchanged week on week.Fastmarkets' index for Northern European HMS...Read More
Prices for hollow steel sections in Northern Europe remained unchanged this week, even as feedstock prices continued to fall, Fastmarkets heard on Wednesday November 21. Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was ?,?640-660 ($731-753) per tonne delivered on November 21, unchanged week on week.Although feedstock prices co...Read More
Turkey produced 3.20 million tonnes of crude steel in October 2018, a 4.30% decrease compared with October 2017, according to the Turkish Steel Producers Association (T???oeD).In January-October 2018, crude steel production in the country was 31,289,000 tonnes, a 0.78% year-on-year rise compared with 31,048,000 tonnes produced in January-October 2017, T???oeD said this week.The country produced 10...Read More
Iranian suppliers of billet and slab continued to cut prices in the second half of November to attract customers.Although several bookings were heard done in the market, the majority of customers refrained from business with the Middle East supplier due to the difficulties stemming from sanctions imposed by the United States.On November 5 the US announced the second round of sanctions against Iran...Read More
Albemarle Corp has entered into an exclusive deal with Australian miner Mineral Resources (MRL) that may lead to the development of new battery-grade lithium hydroxide plant in Western Australia.The companies have agreed to consider the creation of a joint venture that would own and operate the Wodgina hard rock lithium mine and ultimately develop an integrated lithium hydroxide operation at the s...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 21:Noble alloysFerro-molybdenum basis 65% min, in-warehouse Rotterdam, $ per kg Mo: $28.20-28.50 per...Read More
Key data from the Wednesday November 21 pricing session in Europe. Key drivers European suppliers resisted cutting prices or held off offering material altogether. The move follows a downward trend in alloy prices that started on September 12, when the market was assessed at $5.80-6.05 per kg, and stopped a couple of weeks ago.Alloy trading activity was generally quiet this week, with only deals...Read More