Aluminium foundry premiums in Western Europe and the United States continued to slide on Friday April 12 following sustained concerns about the automotive industry. The premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms was assessed Friday at $340-360 per tonne. The premium is down more than 17.6% year on year....Read More
Global ferrous scrap prices were on a downward trend this week due to thin demand from steel mills, which expected spot prices to continue to fall in the near term. Spot prices in Vietnam bucked the trend, stable despite limited offers for HMS 1&2 (80:20) materials. Turkey scrap demand limited US ferrous scrap market likely to continue downtrend Kanto Tetsugen tender concludes at ?23,300 ($209) p...Read More
Fastmarkets MB has corrected its aluminium scrap cast and mixed turnings prices in Europe, which were published incorrectly on April 12 due to an error.Fastmarkets MB has corrected its aluminium scrap cast and mixed turnings prices in Europe which were published incorrectly on April 12 due to an error.The European cast aluminium, free market assessment was incorrectly published at ?,?955-975 per t...Read More
Diamond drill core storage for the Vizcachitas Project located 130 km northeast of Santiago, Chile. Source: Los Andes Copper Ltd.The sharp rise in the value of Los Andes Copper Ltd. [LA-TSXV] shares continued Friday April 12 as investors reacted to this week's news that the company has won the approval of Chile's Environmental Evaluation Service in connection with drilling work at its Vizcachitas...Read More
Gold futures on Thursday marked their largest daily drop and lowest settlement month to date, with the tumble pushing bullion below a psychologically and technically significant level at $1,300. Gold and silver both declined, "pressured by a rebound in the U.S. dollar index and by chart-based sellers entering the futures markets," said Jim Wyckoff, senior analyst at Kitco.com. June gold GCM9, +0.0...Read More
Australian miner New Century Resources reported on Thursday April 11 that it had achieved a quarterly increase of more than 50% in its zinc metal production in the form of concentrates from its Century mine during the first quarter of 2019.The miner produced 18,170 tonnes of zinc content in 37,500 tonnes of zinc concentrates during January-March from the mine in the Australian state of Queensland....Read More
The Eleonore gold mine 320 km north of Matagami in the James Bay region of Quebec. Source: Goldcorp Inc.Newmont Mining Corp. [NEM-NYSE] shareholders have approved the company's $10 billion takeover of Goldcorp Inc. [G-TSX; GG-NYSE]. The combined company, called Newmont Goldcorp., will rank as the world's biggest gold producer with assets across the Americas, Africa and Australia.About 98% of votes...Read More
The Florence in-situ copper project 65 miles southeast of Phoenix, Arizona. Source: Taseko Mines Ltd.Taseko Mines Ltd. [TKO-TSX; TGB-NYE American] on Friday April 12 announced the first copper production from its 100%-owned Florence Project in Arizona. Florence is an in-situ copper recovery project, located midway between Phoenix and Tucson, near the community of Florence.The facility is expected...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
China's domestic spot battery-grade lithium carbonate market stabilized on Thursday April 11 after a slight decrease last week following a cut to the country's value-added tax (VAT) on April 1, while the battery-grade lithium hydroxide price edged down due to deals reported at lower prices.Chinese battery-grade lithium carbonate market stabilized after slight decrease last week. Lithium hydro...Read More
Fastmarkets published its India domestic, export and import prices later than scheduled on Friday April 12, because of a technical issue.The following prices were published in Fastmarkets' price book later than scheduled.India domestic cold-rolled coil, rupees per tonne, ex-worksIndia domestic direct-reduced iron, rupees per tonne, exwIndia domestic heavy plate, rupees per tonne, exwIndia domestic...Read More
Lithium-ion battery technology is leading the zero-emission transportation industry.But you ignore the hydrogen fuel cell market at your own peril.That's because hydrogen fuel cell sales could easily DOUBLE... then TRIPLE... then grow MANY more times over.Hydrogen's PotentialThe Hydrogen Council forecasts that by 2050, hydrogen will power more than 400 million passenger cars worldwide and up to 20...Read More
South American import prices for flat steel were almost unchanged this week because of the low levels of demand, but rumors of price increases for specific materials were heard among buyers and traders.Current prices from China were already considered high by clients, which were reported to be holding large inventories.Fastmarkets' weekly price assessment for South American imported cold-rolled co...Read More
Prices for coated-steel products in Turkey decreased in the seven days to Friday April 12, with demand weak in the domestic market.Demand failed to improve because of the uncertainty after local elections held across the country on March 31, and the continuing weakening of the Turkish lira.Unofficially, the Justice & Development Party (AKP) - the party of national government - won the majority of...Read More
Fastmarkets published its India domestic, export and import prices later than scheduled on Friday April 12, because of a technical issue.The following prices were published in Fastmarkets' price book later than scheduled.India domestic cold-rolled coil, rupees per tonne, ex-worksIndia domestic direct-reduced iron, rupees per tonne, exwIndia domestic heavy plate, rupees per tonne, exwIndia domestic...Read More
Domestic prices for rebar in Poland have been stable over the week supported by good demand, sources told Fastmarkets on Friday April 12.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was unchanged at 2,220-2,290 zloty ($584-603) per tonne ex-works on April 12.The assessment reflects deals and offers heard in the market. Polish steelmakers have been trading...Read More
A safeguarding investigation into imports of semi-finished iron products, non-alloy steel and steel rebar by Egypt's Ministry of Trade & Industry could lead to a fall in billet, rebar and scrap prices.Initiated on Tuesday April 2, the investigation is of particular concern to CIS producers as they are they main suppliers of billet Egyptian re-rollers, sources told Fastmark...Read More
Fastmarkets published its India domestic, export and import prices later than scheduled on Friday April 12, because of a technical issue.The following prices were published in Fastmarkets' price book later than scheduled.India domestic cold-rolled coil, rupees per tonne, ex-worksIndia domestic direct-reduced iron, rupees per tonne, exwIndia domestic heavy plate, rupees per tonne, exwIndia domestic...Read More
Global ferrous scrap prices were on a downward trend this week due to thin demand from steel mills, which expected spot prices to continue to fall in the near term. Spot prices in Vietnam bucked the trend, stable despite limited offers for HMS 1&2 (80:20) materials. Turkey scrap demand limited US ferrous scrap market likely to continue downtrend Kanto Tetsugen tender concludes at ?23,300 ($209) p...Read More
European traders have complained of being priced out of the market for domestic grade-316 stainless steel scrap because of high demand from Asian importers, Fastmarkets heard on Friday April 12.One European trader was offered grade-316 scrap solids at ?,?1,650 ($1,859) per tonne delivered, but declined the deal because it did not think it would be able to achieve a positive margin when selling the...Read More