The tightness in copper concentrates supply and suspensions at major mines resulting from strikes and accidents have pushed treatment and refining charges (TC/RCs) for copper concentrates lower over the past two weeks.Fastmarkets' Asia-Pacific TC/RC index dropped to $54.10 per tonne/5.41 cents per lb on Friday June 14, its lowest since the index launched in June 2013. It was $56.10 per tonne/...Read More
Macro uncertainties continue, with ongoing demonstrations in Hong Kong, a massive power blackout in South America, attacks on two oil tankers in the Middle East late last week and US-China trade tensions unresolved. The spot gold price rose above US$1,350 an ounce on Friday but has softened a little to about $1,341/oz at the time of writing.BHP (ASX: BHP) remains around an eight-year high, well ab...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.China China silicon export prices were unchanged for the fourth consecutive week amid thin inquiries and sporadic spot activity. Tight silicon ore supply in Xinjiang province remains, however, some sources said that most silicon refiners in major production hub Yunnan province have started to resume...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday June 14.ChinaKey drivers Domestic antimony price in China remained unchanged while suppliers' held offer prices relatively firm after the antimony branch of the China Nonferrous Metals Industry Association (CNIA) called major suppliers to cut production to stem a price fall at a meeting on June 1. Few domestic antimony...Read More
Turkish steel mills have continued to book deep-sea scrap cargoes while prices fall amid oversupply, sources said on Monday June 17.A steel mill in the Iskenderun region booked a US cargo, comprising 10,000 tonnes of HMS 1&2 (80:20), 18,000 tonnes of shredded, 2,500 tonnes of plate and structural (P&S) and 2,500 tonnes of cut rebar at an average price of $289 per tonne cfr. Fastmarkets calculates....Read More
The price of Turkish domestic auto bundle scrap has fallen over the past week in line with the downturn in imported scrap values, sources said on Monday June 17.Four steel mills have reduced their buying prices for auto bundle scrap by TRY15-60 ($3-10) per tonne over the past seven days, following the lower priced deep-sea deals heard in the market.Long and flat steel...Read More
Here are five Fastmarkets MB stories you might have missed on Monday June 17 that are worth another look.Base metals traded on the London Metal Exchange posted marginal gains by the afternoon kerb on Monday June 17, buoyed by dovish whispers from the United States Federal Reserve and a weakened US dollar index. The exceptions were nickel and tin, which both logged losses. A number of US alumi...Read More
The global macroeconomic backdrop remains riddled with high amounts of uncertainty this morning, Monday June 17, as the trade conflict between China and the United States drags on with seemingly little progress being made toward an amicable resolution while tensions between the US and Iran look set to ratchet up in the coming days.Meanwhile in Asia, protests in Hong Kong over a controversial extra...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets MB. Fastmarkets MB prices Click here for Fastmarket MB's price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonne Click here for Fastmarket MB's price assessment for the cobalt sulfate, Co 20.5% basis China ex-works, adjustment to the standard-grade cobalt low-end price, $/I...Read More
China is importing steel slab from Iran and Brazil to get around production limits placed on blast furnace operations in the country, industry sources told Fastmarkets MB in the past week.Iranian slab had recently been sold to China at 3,200 yuan ($462) per tonne, including 13% value-added tax (VAT), market sources said. This is equivalent to $408.73 per tonne cfr on an import parity basis.More th...Read More
Its IPO came out of the gate strong, but by the end of the day, it began selling off in a major way.Lucking Coffee (NASDAQ: LK) went from a high of $25.96, on it first day of trading, to a low of $13.71 in just 15 days.Not so great for first-day buyers, but an excellent opportunity for bargain hunters, as you can see in the chart above.Certainly at $13.71, the stock was a bargain. It's actually st...Read More
China's hot-rolled coil prices declined further on Monday June 17, with mills coming under pressure to secure orders.DomesticEastern China (Shanghai): 3,750-3,780 yuan ($541-546) per tonne, down 30-50 yuan per tonneNorthern China (Tianjin): 3,740-3,750 yuan per tonne, down 40 yuan per tonneA few mills gave discounts to their long-term contract customers during the day to secure orders for delivery...Read More
An recent opinion piece published in the Wall Street Journal asks us, "What if Green Energy Isn't the Future?"Writer Mark Mills (oilfield technology investor, author, and academic) questions the reality of heady green energy forecasts and whether negative market perceptions of hydrocarbons are deserved.Mills writes:A week doesn't pass without a mayor, governor or policy maker joining the headlong...Read More
A top Japanese steelmaker expects hot-rolled coil prices in Asia to rebound soon because they are nearing a bottom, a source told Fastmarkets this week.While it has lowered its offers for its July-shipment HRC to the key Southeast Asian market, in response to competitive offers from other regional producers, it does not expect prices to fall much further in the wider region."Due to weak demand in...Read More
Malaysian rebar is ready to be sold into Singapore after a major Malaysian producer Alliance Steel achieved Cares certification, market sources told Fastmarkets."A major trading company had previously applied for the certification so that [it could] import Malaysian rebar into Singapore," a source told Fastmarkets on Friday June 14.The Cares certification will allow major buyers in Singa...Read More
Thank you for joining us in a weekly technical look at the mid-cap oriented INK Canadian Insider (CIN) Index. The INK CIN rose for the second week in a row, gaining 6.9 points or 0.6% to finish at 1099.71. MACD increased 2 points to 3.55. Our short-term momentum indicator RSI jumped 6.8 points to 49.36. RSI broke up through a downward trend that dates back to late February. The MACD histogram h...Read More
In a bullish development for Canadian Basic Materials stocks, our sector indicator peaked late last month. Generally, indicator peaks which reflect peak insider buying often take place around share price lows.Click for largerGold and more recently lumber have been moving up, helping to validate insider optimism in the current environment. While many commodities in the group including copper have...Read More
China's rebar prices tumbled on Monday June 17 after the billet market plunged over the weekend.Domestic Eastern China (Shanghai): 3,820-3,850 yuan ($552-556) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,680-3,730 yuan per tonne, down 100 yuan per tonneRe-rollers stopped production in Tangshan's Fengrun district as instructed by local authorities in an effort to stem emissions, res...Read More
* GRAPHIC-2019 asset returns:* Aluminium slips to 29-month low * Strike at Codelco's Chuquicamata mine provides support (Recasts with closing prices)By Pratima DesaiLONDON, June 17 (Reuters) - Copper prices recovered onMonday, boosted by a mine strike and weak Chinese output, butother industrial metals were pressured by nervousness about thedamage to growth and demand from the U.S.-China trade dis...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More