Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses broadly increased during the week to Friday November 12, with tin recording the largest gain in percentage terms of 119.6%.Sister metals zinc and lead were the only base metals to register a decline in SHFE stocks over the past week, according to the exchange's weekly stocks report.Tin inventories gained 1,502 ton...Read More
Spot trading activity for hot-rolled coil in China was muted on Friday November 12 amid falling prices, after euphoria over a possible easing in property financing waned and raw materials pulled back on improved coal supply.DomesticEastern China (Shanghai): 4,760-4,810 yuan ($744-752) per tonne, down by 90 yuan per tonneNorthern China (Tangshan) weekly assessment: 4,900-4,930 yuan per tonne, down...Read More
Futures prices across the London Metal Exchange base metal complex were relatively steady with only modest price movements at the 9am open on Friday November 12, following a strong performance at the 5pm close on November 11.The US dollar index continued to perform strongly. It was at 95.13 at the 9am open, posting only a modest decline from 95.16 at yesterday's close. This strong dollar has the p...Read More
Sellers in China's domestic rebar market on Friday November 12 attempted to build on the momentum of a day earlier by raising their offers, but losses in the futures market due to falling coal prices capped the increases.Domestic Eastern China (Shanghai): 4,800-4,830 yuan ($751-755) per tonne, up by 30-50 yuan per tonneNorthern China (Beijing) weekly assessment: 4,520-4,600 yuan per tonne, down by...Read More
Base metals prices on the London Metal Exchange were mixed on the morning of Friday November 12, but those on the Shanghai Futures Exchange were mainly firmer while they followed Thursday's strong gains on the LME.Geopolitical tensions rise after the United States warns the European Union that Russia might invade Ukraine.Given the EU has become rather dependent on Russian natural gas, Russia may f...Read More
Forty percent of all the cargo into the United States comes through the ports of Los Angeles and Long Beach. Offshore, there are thousands of containers stacked up on vessels waiting to get in. How many containers can the ports unload on a normal day?New containers are coming in. There are daily arrivals. When will that supply chain backlog clear?The answer is never. If there are more coming in th...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila Ouerghi,...Read More
Key data from the Friday November 12 pricing session in LondonKey driversInternational spot cobalt metal prices continued to post daily gains during the week with tight availability of certain brands and an increase in consumer inquiries.Strength filtering through from ongoing long-term...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt alloy grade, in-whs Rotterdam,...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies....Read More
A summary of stainless steel producer Aperam's results for third quarter of 2021, from July to September.In briefCompany posts third consecutive record results, with earnings before interest, taxes, depreciation and amortization (Ebitda) of ?,?278 million ($319 million) for the third quarter, up from ?,?271 million in the preceding quarter.The company's strong...Read More
Key data from Fastmarkets' European secondary aluminium pricing session on Friday November 12.Key drivers:The price of secondary aluminium ingot DIN226 dropped by more than ?,?200 per tonne in the week to Friday November 12 because of ow demand and falling silicon and scrap prices.Market participants noted quiet demand because most consumers are well stocked until the end of the first quarter of 2...Read More
A likely decline in the South Korea domestic steel scrap price and lower Japan export and local prices has resulted in a drop in buying interest in South Korea in the week to Friday November 12, sources told Fastmarkets.South Korea bids lower for Russia import scrapTokyo Steel announces another drop in domestic scrap buy priceBuying interest for scrap minimal in China amid volatile finished steel...Read More
Prairie Lithium, a private lithium resource and technology developer situated in the heart of Saskatchewan's resource-rich Williston Basin, reached a milestone this week as it finished drilling the province's first dedicated lithium well, which could make the battery metal the region's third largest resource offering after potash and uranium. The Canadian junior has been using proprietary techno...Read More
Shares in Greenland Minerals (ASX: GGG) fell almost 30% on November 12 to 8.8 Australian cents as the company resumed share trading following Greenland government's decision earlier this week to ban uranium mining and exploration.The parliament decision around production of the radioactive metal effectively blocked the development of the company's vast Kvanefjeld rare earths project, one of the w...Read More
Newcrest Mining, Australia's largest gold producer, will soon become the biggest gold producer in the Canadian province of British Columbia once its $3.5 billion (US$2.8 billion) acquisition of Pretium Resources is completed over the next three or four months. The Aussie gold major already held a 4.85% stake in the Canadian miner before announcing the deal this week, and it's the second time Newcr...Read More
The price of gold in Pakistan Thursday, Nov 11, recorded a sharp increase of Rs3,300 per tola, pushing it to the new high of Rs129,100. The price of 10 grams of gold increased by Rs2,829 to Rs110,682, according to the All Sindh Sarrafa and Jewellers Association. Gold rates in Pakistan on Friday, Nov 12 In the last nine days, it went up by Rs14,200 per tola. The price in the international market al...Read More
Gold prices have made their way to their highest level in nearly three months driven by a weaker dollar and fears over a rising U.S. inflation. An earlier dip in the price of Bitcoin saw investors pull away from cryptocurrencies as they turn to gold as a proven long-term hedge against inflation. Analysts are waiting for the metal’s performance in the short term before making any progno...Read More