Some major Chinese scrap importers have stopped buying from overseas over fears of not receiving quotas for the fourth quarter of 2019, leading them to postpone deliveries until March next year after Lunar New Year, Fastmarkets has learned. Many buyers in Ningbo province, a major destination for No2 copper scrap imports to China, have already used up their quotas assigned earlier and some of them...Read More

Fastmarkets published its China copper scrap discount price later than scheduled on Monday September 30 due to a technical issue during the price discovery process.The following price was published in Fastmarkets' price book later than scheduled: Copper scrap No2 copper (birch/cliff) imported into China 94-96%, LME/Comex discount, cif China, US cents/IbFor more information on or to provide feedbac...Read More

Broader markets are seeing some relief buying in the morning of Tuesday October 1 after the United States stepped in to ease fears of escalating trade tensions by denying plans to prevent Chinese companies from listing their shares on US markets, but metals remain under pressure. The economic news remains depressing: South Korea's exports registered 10 months of declines and a Bank of Japan survey...Read More

Fastmarkets rounds up six key takeaways from its first Battery Materials Europe conference in Amsterdam, which took place on September 26-27.Battery boom warrants evolution of cobalt pricing mechanisms Cobalt hydroxide and cobalt sulfate account for a growing portion of the cobalt market, which reflects growth - and forecasts for future growth - in EV demand. While cobalt metal prices have traditi...Read More

Prices of cobalt metal, salts and hydroxide continued their upward momentum in September, while the chemical prices outperformed amid strong demand incited by concerns of supply tightness following the news on Glencore's Mutanda mine closure in early August. Price moves The rally in the benchmark cobalt price slowed in September with aggressive trader stockpiling drying up, amid limited restocking...Read More

Poor demand and mounting competition from imports will continue to challenge the European hot-rolled coil (HRC) market, supporting a negative trend in the fourth quarter of 2019, market sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was ?,?450-460 ($491-502) per tonne on September 25, down by ?,?5-10 per tonne week on week and down...Read More

When I first started in this business more than 20 years ago, the first major financial meltdown I witnessed was the Asian Contagion of 1998. This was a time when emerging markets took on too much U.S. dollar denominated debt. Their currencies went the wrong way and they couldn't pay it back.Ironically, this led to revolution and a flowering of democracy from South Korea through Indonesia. The old...Read More

Rogue Resources Inc. (TSX-V: RRS) has been focused on advancing its silica/quartz business, with the Snow White Project, in Ontario and the Silicon Ridge Project, in Quebec, while at the same time watching the paper value of its other assets increase with rising metal prices, including the gold potential at Radio Hill and nickel potential at Langmuir. We learned from Sean Samson, President, CEO an...Read More

Adjustments to EU safeguard measures will "stabilize trade flows by containing import concentrations from certain exporting countries," the European steel association Eurofer said on Tuesday October 1.Although the changes will result in improvements, "the result is still not sufficient for a large part of the sector, especially given that it is facing depressed domestic steel demand," Eurofer said...Read More

Flat steel import prices into the United Arab Emirates and Saudi Arabia remained stable this week on continuing limited demand, sources told Fastmarkets on Tuesday October 1.Buyers did not want to book large tonnages before prices hit a market bottom and end-user demand began to improve, they said.UAEOffer prices for hot-rolled coil (HRC) from China were heard at $450-460 per tonne cfr this week,...Read More

Here is what's new today on INK Ultra Money. Exisiting Canadian Insider Club members can upgrade for the special rate of $99.99 per year (plus tax) via the account settings tab after logging in.1. Ominous Clouds Forming in Chinese Data - Real Vision (Ultra subscriber content)China's recent economic numbers are the second worst in its history! Leland Miller, CEO of China Beige Book, argues this us...Read More

Adjustments to EU safeguard measures will "stabilize trade flows by containing import concentrations from certain exporting countries," the European steel association Eurofer said on Tuesday October 1.Although the changes will result in improvements, "the result is still not sufficient for a large part of the sector, especially given that it is facing depressed domestic steel demand," Eurofer said...Read More

CIS export rebar and wire rod prices remained unchanged in the week to Monday September 30 due to a lack of trading activity."Everyone is waiting to see more drops in the market in the next couple of weeks, [so] customers [are holding] back bookings," one trader said.CIS rebar was on offer to foreign customers at $405-410 per tonne fob, sources told...Read More

Import and domestic prices for steel rebar in the United Arab Emirates fell this week because of soft demand, sources said on Tuesday October 1.The new reduced domestic rebar prices for the month were announced on September 26.Billet importsBillet was on offer from Oman at about $405 per tonne cpt, and $390-400 per tonne cfr from India.One deal for 5,000 tonnes was...Read More

The Turkish steel producers have continued their deep-sea purchases for November shipments, sources said on Tuesday October 1.A steel mill in the Marmara region booked a 32,000-tonne US-origin cargo, comprising HMS 1&2 (80:20) at $226 per tonne, shredded at $231 per tonne and bonus at $236 per tonne cfr. The cargo composition, however, was not clear at the time of...Read More

Seaborne iron ore prices were flat on Tuesday October 1 at the start of the week-long public holiday in China.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $93.38 per tonne, unchanged.62% Fe Pilbara Blend fines, cfr Qingdao: $92.91 per tonne, unchanged.62% Fe low-alumina fines, cfr Qingdao: $91.72 per tonne, unchanged.58% Fe fines high-premium, cfr Qingdao: $82.28 per...Read More

Some major Chinese scrap importers have stopped buying from overseas over fears of not receiving quotas for the fourth quarter of 2019, leading them to postpone deliveries until March next year after Lunar New Year, Fastmarkets has learned. Many buyers in Ningbo province, a major destination for No2 copper scrap imports to China, have already used up their quotas assigned earlier and some of them...Read More

CIS export billet prices continued to slide as several new bookings were closed with discounts,sources told Fastmarkets on Tuesday October 1."The major issue today is not even scrap, but low finished long still prices and reduced demand for them," one trader said.Late last week a cargo of October-rolling billet from Russia was...Read More

Import and domestic prices for steel rebar in the United Arab Emirates fell this week because of soft demand, sources said on Tuesday October 1.The new reduced domestic rebar prices for the month were announced on September 26.Billet importsBillet was on offer from Oman at about $405 per tonne cpt, and $390-400 per tonne cfr from India.One deal for 5,000 tonnes was...Read More

David HaggithThe Great Recession never ended. I say that because the deep economic flaws that caused it were never corrected. All recovery efforts since merely clouded our eyes to the problems growing larger around us, even making them worse, and now we are going back into the belly of the Great Recession.The recovery was all a prop, which is why I call it a fake recovery. In September, we enter...Read More