The P1020 Midwest aluminium premium in the United States edged higher on Friday April 5 amid tightening supply and a wide contango on the London Metal Exchange.Fastmarkets AMM assessed the P1020 Midwest premium at 19.25-19.5 cents per lb on April 5, up from 19-19.25 cents per lb, where the premium had held since March 29.Traders pointed to the high cost of replacing metal - citing the US Section 2...Read More
Continued supply concerns in the US copper rod market have prompted higher offers for material - and put pressure on domestic premiums, market sources told Fastmarkets AMM.Fastmarkets AMM's assessment of the US copper rod premium was unchanged at 15-17 cents per lb delivered to the Midwest on Thursday April 4; the premium has remained at that level since January 3. Production issues at Asarco...Read More
The following Fastmarkets non-ferrous European free market scrap prices changed on Friday April 5:Aluminium scrapFloated Frag: ?,?1,045-1,090 per tonne from ?,?1,050-1,095Cast: ?,?955-975 per tonne from ?,?960-980Mixed...Read More
The price of copper in the United States was in negative territory in morning trading on Friday April 5 because of reservations about the China-US trade talks.The copper price for May settlement on the Comex division of the New York Mercantile Exchange inched down by 0.30 cents per lb to $2.9070 per lb.Talk of a trade deal had boosted sentiment across the commodities markets, including among the b...Read More
The atmosphere at the Cesco copper industry gathering in Santiago, Chile, next week is expected to be lifted by a bullish outlook for the red metal. The South American gathering is traditionally characterized by strong attendance by miners, due in part to its proximity to the largest copper mines in the world. As a result, delegates will have a keen focus on factors that could affect the upstream...Read More
The federal court in Bel?(C)m, in the northern Brazilian state of Par??, has scheduled a second conciliatory hearing on April 12 to discuss the production embargo of Norsk Hydro's Alunorte alumina refinery. The first hearing took place on Thursday April 4, with Norsk Hydro and Brazil's federal prosecutors' office (MPF) producing information to the judge regarding the progress of the ongoing third-...Read More
On Alrosa's (MICEX: ALRS) Capital Markets Day on March 18th, the company said the most frequently asked questions it gets during 1-on-1 meetings with investors are those related to the impact that "synthetic" diamonds will have on the business.Three days later, on a Mountain Province Diamonds (TSX: MPVD) analyst call following the company's full year 2018 results, a portfolio manager posed more of...Read More
Brazilian slab export prices remained stable in the week to Friday April 5 week while producers prepared to increase prices and offers.Fastmarkets' weekly assessment of Brazilian slab export prices was $510-550 per tonne fob on April 5, again stable week on week.Producers have started to renew offers for June shipment, and Brazilian material is expected to continue trading at high prices, due to m...Read More
Private capital tracker Preqin says in an report, that contrary to expectations, 2018 was another bumper year for the industry, particularly for natural resources investments.Fundraising by unlisted funds for investment in natural resources - oil and gas, timberland, farmland, water and mines - set a fresh record in 2018, totalling $93 billion, and is likely to top $100 billion as more data become...Read More
During her opening address at the 6th Forum of the Africa-Belgium Business Week, Marie-Chantal Kaninda, executive director of the World Diamond Council, told global leaders that expanding the scope of the Kimberley Process to include issues related to human rights and labor relations will help create conditions in which Sub-Saharan Africa's artisanal diamond miners can meet their economic potentia...Read More
Prices of steel sheet products in the United States held steady over the past week, with buyers showing no urgency to place orders.Fastmarkets AMM's weekly assessment for domestic cold-rolled coil was flat at $42 per hundredweight ($840 per short ton) on Thursday April 4.The domestic hot-dipped galvanized steel base price also was unchanged week on week at $42 cwt, while the all-in...Read More
Indian mills have kept their domestic hot-rolled coil (HRC) prices stable for April sales while cheaper imported material continued to put pressure on domestic product, Fastmarkets heard on Friday April 5.Fastmarkets' assessment of the Indian domestic HRC price was 40,500-41,000 rupees ($586-594) per tonne ex-mill on Friday, the same as last week's assessment."We have tried to keep domestic HRC pr...Read More
Prices for coated-steel products in Turkey decreased in the seven days to Friday April 5, with demand weak in both the domestic and export markets.Demand was weak in March because of market uncertainty ahead of the mayoral elections held across the country on March 31, sources told Fastmarkets.Unofficially, the Justice & Development Party (AKP) - the party of national government - won the majority...Read More
Most prices for steel coil products in Turkey were stable over the week ended Friday April 5, with buying activity remaining subdued.The market was slow in March because of uncertainty in the build-up to Turkey's mayoral elections, that were held across the country on March 31.Unofficially, the Justice & Development Party (AKP) - the party of national government - won the majority of the mayoral v...Read More
Polish steelmakers were expected to increase their domestic offer prices for rebar, supported by strong demand in the construction industry, sources told Fastmarkets on Friday April 5.In the meantime, Fastmarkets' price assessment for domestic 12mm B500B-grade rebar in Poland was 2,220-2,290 zloty ($581-599) per tonne ex-works on April 5, compared with 2,220-2,320 zloty per tonne ex-works last wee...Read More
Southeast Asia's steel billet market softened over the past week amid a lack of buying interest, though thin trading has kept prices steady in the last few days.Fastmarkets MB's daily import price assessment for billet in Southeast Asia was $475-485 per tonne cfr Manila on Thursday April 4, unchanged for a second day. Last Friday's prices were $5 per tonne higher, at $480-490 per tonne cfr.No deal...Read More
Private capital tracker Preqin says in an report, that contrary to expectations, 2018 was another bumper year for the industry, particularly for natural resources investments.Fundraising by unlisted funds for investment in natural resources - oil and gas, timberland, farmland, water and mines - set a fresh record in 2018, totalling $93 billion, and is likely to top $100 billion as more data become...Read More
Eastern promise for PolarXSPONSOREDpolarxThis was the primary finding of research commissioned by the International Copper Association (ICA) and carried out by DMM Advisory Group.Read More
Global steel scrap prices continued to move downward in the week ending Friday April 5, with the exception that prices in the US market remained unchanged on a lack of trading, and with prices in India bucking the downtrend by $0.07 per tonne. Turkish import prices drop by more than $10 per tonne week on week on political uncertainty Lack of fresh trading keeps US exports flat Good availability of...Read More
Three-month base metals prices on the London Metal Exchange were mixed during morning trading on Friday April 5, while trading has been quiet due to a public holiday in China. Nickel and tin were both up by 0.2%, aluminium was down by 0.3% and the rest were either unchanged or either side of unchanged – with copper flat at $6,450 per tonne.Prices for the red metal are holding up relative...Read More