Manganese ore prices are overheated compared with production costs and manganese alloy prices, making them prone to a decline next year, panelists said at Fastmarkets' 34th International Ferro-alloys conference in Lisbon this week. Manganese ore prices have trended higher since May this year. Fastmarkets MB's 44% manganese ore index was last calculated at $7.13 per dry metric tonne unit dmtu,...Read More
The following Fastmarkets noble alloys and ores prices changed on Wednesday November 14:Noble alloysTungsten MB Chinese free market concentrate 65%, yuan/tonne: 100,000-102,000...Read More
Three-month base metals prices on the London Metal Exchange were broadly weaker on the morning of Wednesday November 14, with the three-month copper price down by 0.1% at $6,040 per tonne. This after Tuesday’s energetic start that saw the red metal reach $6,181 per tonne at one point. Three-month nickel, lead and zinc were down by 0.2%, 0.3% and 1% respectively on the LME this morning, w...Read More
The following Fastmarkets minor metals prices changed on Wednesday November 14:Antimony MB free market regulus, $/tonne: $8,100-8,300 per tonne from $8,150-8,350Antimony MMTA standard grade II, $/tonne: $8,050-8,250 per tonne from $8,100-8,300Antimony MB Chinese free market MMTA standard grade II, yuan/tonne: 50,200-51,000 yuan per tonne from 50,000-50,500 yuanCobalt MB...Read More
(Kitco News) - Negative sentiment continues to build around tech giant Apple (Nasdaq: AAPL), and some analysts have warned that slower iPhone sales could have broader implications on global growth that could benefit safe-haven assets like gold.In a report Tuesday, Hussein Sayed, chief market strategist at FXTM, said the little smartphone had a significant impact on U.S. gross domestic product grow...Read More
(Kitco News) - Pan American Silver Corp. (Nasdaq, TSX: PAAS), the world’s second-largest primary silver producer, will acquire Tahoe Resources Inc. (NYSE: TAHO; TSX: THO) in a $1.07 billion stock-cash deal announced by the two companies Wednesday.Officials said the merger will create the world’s largest publicly traded silver-mining company and will have the world’s largest silve...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 14. Base metals on the London Metal Exchange were mostly lower during morning trading, with prices weakened by a prolonged sell-off in crude oil markets while continued strength in the US dollar index increased downward pressure. Falling by just under 1% over the morning, the three-month nickel...Read More
Vanadium prices will find a much higher base than their 2015 lows when they inevitably fall, due to a structural shift in the global vanadium market, according to Amy Bennett, principal consultant at Fastmarkets MB. "Ferro-vanadium will not stay above $100 per kg for eternity [and] at some point there will be less of a panic to get material," delegates heard at Fastmarkets' 34th International Ferr...Read More
Ferrous scrap export prices declined following four US cargoes sold to Turkey and reported over the past week; meanwhile, East Coast exporters were mixed, with some keeping a tight rein on buying prices while others accepted dock price increases to attract more inbound flows.Three cargoes from the East Coast were sold to Turkey over the past seven days. The first and second traded at $33...Read More
Stainless steel scrap market demand continues to waver in the United States heading into year-end, further weighing on prices. "There is no energy in this market and no one seems to be interested in moving to buy material... We just keep drifting down [on prices]," one US dealer source said. "Still cautious with mill discounting very aggressive into the end of the year inventory reduction pro...Read More
The Turkish steel mills continued their silence in the deep-sea scrap markets for another day on Wednesday November 14, because of a softening rebar market and increasing scrap supply in Europe, Fastmarkets was told.After booking two cargoes from the United States late last week, Turkish mills paused their purchases. Meanwhile, rebar prices have shown a downturn with news of recent sales at $506-5...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 12 point in pre-opening trade.Brrrrr, it's cold out there! It snowed in our neighborhood last night. The spot price for Natural gas jumped $0.55 to $4.65 per MBtu in overnight trading. As the expression goes, "Buy (equities) when it snows, sell when it goes".Index futures moved slightly higher following release of the...Read More
Iron ore prices were mixed on Wednesday November 14 with supply tightness and higher premiums reported for December-arrival Pilbara Blend fines.MB 62% Fe Iron Ore Index: $75.91 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Pilbara Blend Fines Index: $75.71 per tonne cfr Qingdao, up $0.18 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $78.25 per tonne cfr Qingdao, up $0.53 per tonne.MB 58% F...Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Global Ore,...Read More
Vietnam, a major consumer of scrap in Asia, has purchased at least 30,000 tonnes of Japanese H2 materials this week.Deals involving at least two bulk shipments bound for southern Vietnam were heard concluded around $329-330 per tonne cfr Vietnam.This suggests that fob Japan prices have fallen further from last week's level of ?34,700-35,000 ($305-307) per tonne after a tender held by the Kanto Te...Read More
The seaborne coking coal market remained steady on Wednesday November 14 with offers being issued at prevailing levels.Top Australian brands were still offered around $220-224 per tonne cfr China during the day while offers for two different second-tier products were made around $208-209 per tonne cfr China, according to various market sources."Both sellers and buyers are happy with the current ma...Read More
China's ferrous futures rose across the board during morning trading on Wednesday November 14, following the release of data showing higher-than-expected industrial output in October.Futures closing prices - morning session Shanghai Futures Exchange January rebar: 3,926 yuan ($564) per tonne, up 57 yuan per tonneJanuary hot-rolled coil: 3,617 yuan per tonne, up 34 yuan per tonneDalian Commodity Ex...Read More
It's your patriotic duty, neigh privilege, to pay your taxes! Yeah, we don't believe that either. The myth of the "kinder, gentler" IRS has been tossed around for decades now, and President Trump would like to do away with IRS all together.There are two months left in 2018 and before you know it, April 15, 2019 will be here. Have you started prepping your 2018 tax return?You might be wondering why...Read More
For Halloween this year both of my daughters went as students of the Hogwarts School of Witchcraft and Wizardry.That is from the world of Harry Potter in case you aren’t familiar.In my house we are very familiar with Hogwarts... Both of my kids are obsessed with the books.I love that Harry Potter has helped develop a passion for reading in an era were so many children are permanently glued t...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More