Shipments of metals, ores and alloys from South Africa in the week to Thursday January 14 were still subject to delays and logistical disruptions caused by Covid-19-related restrictions.Chrome deliveries to the port of Maputo in Mozambique have been severely disrupted over the past two weeks amid queues as long as 25km at Lebombo, a major land border crossing. And the cobalt intermediates payable...Read More
The base metals on the London Metal Exchange were mainly weaker this morning, Friday January 15, while those on the Shanghai Futures Exchange were mainly firmer in line with the stronger Chinese fundamentals.* US President-elect Joe Biden proposed a $1.9 trillion rescue package* US Federal Reserve chair Jerome Powell said the central bank would not be raising rates anytime soonBase metalsThree-mon...Read More
Consumer Staples iShares (XLP) moved below $65.56 completing a double top pattern. Verisk Analytics (VRSK), a NASDAQ 100 stock moved below $191.06 completing a double top pattern.Blackberry (BB), a former TSX 60 stock moved above Cdn$12.54 and US$9.69 to a 28 month high extending an intermediate uptrend. Pre-opening Comments for Friday January 15thU.S. equity index futures were lower this mor...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 13 that are worth another look.Overseas buyers are opting to purchase Chinese cold-rolled coil and hot-dipped galvanized coil from smaller mills in China amid major exporters' high offers, sources told Fastmarkets in the past week.Canada-based miner Cornish Metals intends to float...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 13.Please click...Read More
Tin premiums in the United States continued their pronounced rise in the week to Tuesday January 12, with shortages of material in the region driving continued panic-buying, while the metal's soaring price and tight spreads on the London Metal Exchange limited the spot-market opportunities in Europe.Panic buying sees US market strengthenEuropean demand hits plateau despite short supplyLME price br...Read More
South Africa's bulk exports of manganese ore soared to more than 19 million tonnes in the first 11 months of 2020, according to early estimates seen by Fastmarkets. Shipping data showed the record volume shipped between January and November, compared with just over 18.3 million tonnes for the whole of 2019. The increase comes despite South African mines being closed between late...Read More
Prices of both Chinese imported charge chrome and UG2 chrome ore continued to rise in the week to Tuesday January 12, supported by a surging domestic spot ferro-chrome market. The city of Ulanqab, a major ferro-alloy production hub in China's autonomous region of Inner Mongolia, has ordered smelters to shut down their small furnaces. The expectation of resultant lower supply in the short term imme...Read More
The global zinc concentrates market is volatile and unpredictable at the best of times, but a global pandemic ramped up the turbulence by several notches in 2020.Spot zinc treatment charges (TCs) fell by more than 72% last year, the slide beginning after the Covid-19 pandemic forced major mines into government-mandated lockdowns.The nosedive in spot TCs - which are discounts to the exchange price...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 13.Key drivers The European ferro-titanium market followed a slow start to the year with another low-key trading week, although strong buying interest in Asia was encouraging higher offer prices in Europe. Only a few truckloads of alloy were reported being sold at $7.80 per kg delivered in Europe.Most business was repor...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday January 13.Key drivers The European ferro-titanium market followed a slow start to the year with another low-key trading week, although strong buying interest in Asia was encouraging higher offer prices in Europe. Only a few truckloads of alloy were reported being sold at $7.80 per kg delivered in Europe.Most business was repor...Read More
The Turkish deep-sea markets remained largely silent on the third working day of the week, but with sentiment beginning to turn negative, sources said on Wednesday January 13.After a number of steel scrap cargoes were booked at the end of last week, the mills stepped back from deep-sea bookings."The number of offers is increasing, especially from US merchants. I think this might be a sign of a dow...Read More
Aluminium alloy ADC 12 prices in China and Japan continued to trend down in the week to Wednesday January 13 on reduced production costs after the price of aluminium scrap - used as a raw material - weakened. Fastmarkets assessed the price of aluminium ingot ADC12, exw dp China at 16,600-16,800 yuan ($2,567-2,598) per tonne on Wednesday, down 200-400 yuan per tonne from 16,800-17,200 yuan per...Read More
After strong gains on the London Metal Exchange on Tuesday January 12, when prices closed up with gains averaging 1.8%, prices were for the most part little changed this morning, with nickel the main mover.Nickel prices have been moving higher while the market reacts to a mining ban on the island of Tumbagan in the Philippines and as supply from miner SLN in New Caledonia continues to be disrupted...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 13 that are worth another look.Overseas buyers are opting to purchase Chinese cold-rolled coil and hot-dipped galvanized coil from smaller mills in China amid major exporters' high offers, sources told Fastmarkets in the past week.Canada-based miner Cornish Metals intends to float...Read More
Domestic prices for hot-rolled coil have increased across Europe in the week to Wednesday January 13, with steelmakers targeting further price rises, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?691.25 ($840.90) per tonne on Wednesday, up by ?,?3.25 per tonne day on day from ?,?688.00 on Tuesday.The index was also up by...Read More
China's hot-rolled coil prices continued to fall on Wednesday January 13 amid low demand.DomesticEastern China (Shanghai): 4,510-4,540 yuan ($698-702) per tonne, down 30-40 yuan per tonneSeveral Shanghai-based traders said that sellers there had to offer material at lower prices to win orders amid inactive trading.One trader said buyers were likely to keep waitin...Read More
Prices for steel hollow sections in Europe have moved upward on continued pressure from the price and availability of feedstock materials, sources told Fastmarkets on Wednesday January 13.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?820-850 ($998-1,034) per tonne on Wednesday, up from ?,?800-820 per tonne one week before.Producers have stru...Read More
The price of steel H-beams in Europe has jumped this week, with producers returning to the market after pausing their offers ahead of the Christmas holiday break due to volatile market conditions, sources told Fastmarkets on Wednesday January 13.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?750-770 ($912-937) per tonne on Wednesday, up from ?,?70...Read More