Buyers outside China have emerged in the seaborne coking coal market this month, with a Japanese buyer said to have returned to the market for premium products on Thursday November 7.Fastmarkets indicesPremium hard coking coal, fob DBCT: $132.57 per tonne, down $0.72 per tonnePremium hard coking coal, cfr Jingtang: $146.12 per tonne, down by $0.04 per tonneHard coking coal, fob DBCT: $121.70 per t...Read More
Trading activity in China's hot-rolled coil market thinned on Thursday November 7 while prices stayed flat, with sentiment dampened by rising output.DomesticEastern China (Shanghai): 3,540-3,550 yuan ($505-507) per tonne, unchangedNorthern China (Tangshan): 3,540 yuan per tonne, unchangedA trader in Shanghai said buying slowed during the day despite steady prices, with rising output resulting in s...Read More
Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The increasing consumption of scrap and a potential shift toward the electric-arc furnace (EAF) steelmaking route from the basic oxygen furnace (BOF) route in China are medium- to long-term threats to demand for steelmaking raw materials, while in the near team coking coal import volumes will continue to be affected by iron ore procurement strategies.This was the basis of Fastmarkets research team...Read More
Iron ore prices fell sharply in the second half of November after climbing through October, with prices for higher-grade material pioneering the decline.Fastmarkets MB daily benchmark for 65% Fe fines dropped by 22% by Monday November 26 after peaking on October 29. The 62% Fe iron ore index declined by 16% over the period, as some Chinese steelmakers started to seek larger volumes of cheaper ores...Read More
Nickel supply prompted the most heated discussions among market participants at the annual Antaike International Nickel & Cobalt Conference in Yichang on November 5-6, especially those involved in the electric vehicle (EV) battery raw materials supply chain, because of volatilities in the past two months. Meanwhile, the looming closure of Glencore's Mutanda copper-cobalt mine in the Democrati...Read More
A summary of ArcelorMittal's financial results for the third quarter of 2019.In brief Earnings in the quarter dropped due to the combination of a fall in steel shipments, declining steel prices and higher raw material costs, the world's largest steelmaker said on Thursday November 7."As anticipated, we continued to...Read More
Here are five Fastmarkets MB stories you might have missed on Thursday November 7 that are worth another look.Latin America's crude steel output fell 16% year on year in September to 4.69 million tonnes on high costs of iron ore and low global prices for finished products, according to regional steel association Alacero.The global nickel supply deficit is set to narrow to 20,000 tonnes of nickel u...Read More
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Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.The Wood Mackenzie team will be presenting our analysis and perspectives on key commodities which include Copper, Nickel, Coal (met and thermal) and Aluminium. Join us at the Moscow Metals & Mining Briefing to discuss the issues f...Read More
Frank Feng has left his position as head of copper trading at Cliveden's Shanghai office and has been replaced by Sun Bing, Fastmarkets understands.Feng was head of copper trading at Cliveden's Shanghai office for almost three years. He had previously worked with...Read More
Galena Mining is looking to bring 90,000 tonnes of new lead production from its Abra mine in Australia to the market in 2022 and a continuation of current price levels for the metal would suit it 'just fine', its chief executive officer Alex Moleneux said."When we look at our outlook for the lead price we feel like where it is now is pretty reasonable over the long term horizon," Moleneux told Fas...Read More
The three-month copper price on the London Metal Exchange increased during morning trading on Thursday November 7, with its price action nearing the $6,000-per-tonne resistance level against a sizable turnover. The red metal's outright price on the LME was recently at $5,962 per tonne, with some 4,400 lots exchanged as of 9:20am London time. Supporting this, LME copper stocks were subject to...Read More
Sentiment improving afterDe Beers reduced rough prices 5%-7% at Nov. sight. Better demand for RapSpecA3+ polished, driven by US holiday orders. Chinese demand and reduced supplysupporting 0.30 to 0.50 ct. D-G, IF-VS categories. Potential US-China tradedeal boosts expectations for Chinese New Year. 1 ct. RAPI -0.1% in Oct.; 0.30ct. RAPI +1.5%. Surat manufacturers on Diwali vacation and expected to...Read More
The global nickel supply deficit is set to narrow to 20,000 tonnes of nickel units next year, mainly due to a ramp up inIndonesian nickel pig iron (NPI) output, Beijing Antaike Information chief analyst Aidong Xu told delegates at a conference in Yichang, China.The figure is compared with a supply deficit this year that Xu projected at 40,000 tonnes and is despite the Indonesian ore expo...Read More
Mumbai market still not fully operational asdealers return from Diwali vacation. Surat factories closed for another week ortwo.Dealers focused on filling US orders and select demand from China.Shortage of top-quality SIs due to reduced manufacturing. Cutters hoping forbetter profit margins after Diwali break following De Beers rough price cuts. RoundRead More
RAPAPORT... Prices of yellow diamonds decreased in the thirdquarter, driving down the overall fancy- color index even while pinks and bluesremained steady, the Fancy Color Research Foundation (FCRF) said. The index for yellows fell 1.5% quarter on quarter for the threemonths ending September 30, and 4.9% year on year, according to the FCRF, whichreleased its quarterly Fancy Color Diamond Inde...Read More
(IDEX Online) - Hong Kong- based Sightholder KGK formally inaugurated its new cutting plant in Luanda, Angola earlier this week. This is the country's fourth diamond-cutting plant and is a partnership between KGK (65 percent), UST (30 percent) Sodiam EP 5 percent and UST (30 percent), reports the Angolan press agency. The partners have already invested $5 million out of a planned $2...Read More
RAPAPORT... KGK Diamonds has become the fourth company to open acutting factory in Angola as part of a national project to boost localmanufacturing, the government said in a post on its Facebook page Monday. The Hong Kong-based sightholder launched the operationtwo months ago, with a formal ceremony taking place Monday in the presence ofDiamantino Azevedo, the minister of minerals, resources...Read More
RAPAPORT... Tiffany & Co. has asked LVMH Mo?<