Prices up, but Asian premiums lower despite Port Pirie outage While benchmark lead prices are being supported by the second significant unplanned disruption at Nyrstar’s Port Pirie smelter in Australia since June – this one a 12-week production outage – it is not lifting premiums, yet. Although it is reportedly spurring more enquiries for lead, Fastmarkets’ latest assessment of...Read More
Consolidation continues in high ground, for now... As nickel waits for the next news from Indonesia, to confirm one way or another whether the ore export ban will be reintroduced from 2022 or earlier, prices are doing well to still be consolidating as high as $16,000 per tonne. Reports suggest it is now up to President Joko Widodo to decide if the country will bring forward the ban. ...despite a m...Read More
Tin prices at their lowest since May 2016 The 3-month LME tin price is at its lowest since May 2016 at $15,625 per tonne, having sold off 10% so far this month and 20% in the year to date. Clearly, LME tin is so far the worst performer this year among its peers, which is consistent with the fact that LME tin stocks have risen the most (+4,600 tonnes or 200%) since the start of 2019. We attribute t...Read More
Prices for seaborne cargoes of premium hard coking coal in the fob Australia segment took a tumble on Wednesday August 28 in contrast with strengthening cfr China ones, underlining the robust demand for top-quality materials in China compared with the rest of the market.Fastmarkets indicesPremium hard coking coal, fob DBCT: $149 per tonne, down $5.28 per tonnePremium hard coking coal, cfr Jingtang...Read More
H1 deficit balanced by stock flows Preliminary ILZSG data showed the deficit in the global zinc market was 134,000 tonnes in H1 2019, versus the 56,000-tonne deficit we had forecast for the period. At the same time, reported inventories (LME, SHFE, SRB, producer, consumer and merchant) increased by 34,000 tonnes. In effect, this implies that unreported inventories were drawn down to the tune of 16...Read More
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Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
With gold prices up at near six-year highs, markets remain nervous on Wednesday August 28 about just how much damage the United States-China trade war is doing and whether it will be reversible before it leads to a global recession. Comments from last week’s Jackson Hole symposium suggest central bankers have little control because politically-motivated trade policy is now setting the ag...Read More
China's domestic hot-rolled coil market shed most of its downward momentum on Wednesday August 28 on higher trading activity, though overseas buyers submitted lower bids for exports of the flat steel product.DomesticEastern China (Shanghai): 3,600-3,610 yuan ($503-504) per tonne, narrowing downward 20 yuan per tonneNorthern China (Tangshan): 3,600-3,620 yuan per tonne, widening upward 20 yuan per...Read More
China's domestic rebar market weakened for a third day on Wednesday August 28, sending prices in the eastern region to their lowest in a year-and-a-half. Domestic Eastern China (Shanghai): 3,530-3,580 yuan ($493-500) per tonne, down 20 yuan per tonneNorthern China (Beijing): 3,530-3,550 yuan per tonne, down 10 yuan per tonneSubdued demand and a continual decline in the iron ore market pushed down...Read More
The London Metal Exchange three-month nickel price led gains during the morning session on Wednesday August 28 while the rest of the base metals complex followed a lackluster trajectory of minimal gains on slim trading volumes. The LME three-month nickel price is closing the gap on the $16,000 per tonne psychological level, trading up 1.5% to around $15,950 per tonne this morning. The nickel contr...Read More
With gold prices up at near six-year highs, markets remain nervous on Wednesday August 28 about just how much damage the United States-China trade war is doing and whether it will be reversible before it leads to a global recession. Most base metals prices have fallen to low levels and are failing to get any support while the depressed macro environment dominates. The exceptions are nickel, and to...Read More
The following Fastmarkets minor metals prices changed on Wednesday August 28:Antimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,750-5,950 per tonne from $5,850-6,050Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,000-37,000 yuan per tonne from 36,500-37,500 yuanBismuth 99.99% Bi min, in-whs Rotterdam, $/lb:...Read More
Key data from Fastmarkets' Wednesday August 28 pricing session in Europe. Key drivers The ferro-titanium market price range widened with suppliers reporting deals done at the upper and lower end of the new price range. Suppliers reported increased buying interest, although few deals done. One major deal was reported done to a German consumer. UK producer FE Mottram has yet to restart p...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday August 28:Aluminium scrapClean HE9 extrusions, delivered consumer UK, ?/tonne:...Read More
Currency exchange rates can make or break a steel trade, and with forex volatility in emerging markets expected to continue for the rest of the year, the Asian ferrous markets are likely to see more price fluctuations before the end of 2019.These five currency pairs should be on your watch-list for the significant influences they could bring to bear on key global steel and ferrous scrap trade flow...Read More
Amy Schweikert, research assistant professor of mechanical engineering at Colorado School of Mines, was invited to moderate a panel at the 2019 U.S. Strategic Command Deterrence Symposium. About 700 people were in attendance at the event, including flag-level leadership from the U.S. Air Force, Navy and Army; U.S. congressmen; international dignitaries, ambassadors to the United States, and Defen...Read More
MEJILLONES, CHILE - Coro Mining (TSX: COP) could soon be building Chile's newest copper mine.You would think someone would have already looked here.High in the arid hills above the Chilean port of Mejillones, where metal from some of the world's largest copper operations is shipped to Asia, a mining junior thinks it has found the country's next mine.Coro Mining is rapidly advancing Marimaca, an ex...Read More
A regional exploration program on the Monique property, 25 km east of Val-d'Or in Quebec, has identified a new gold zone, Probe Metals (TSXV: PRB; US-OTC: PROBF) says.The 5,357-metre drill program focused on an area surrounding the property's past-producing Monique mine, 5 km east of Probe's New Beliveau deposit.Probe is earning a 60% stake in Monique by spending $2 million on exploration before...Read More
Terramin leads gold-copper revival in South AustraliaSPONSOREDterramin australiaThickened tailings deposition for closureSPONSOREDsrk consultingDe-risking delivers value in GalenaSPONSOREDgalena miningPeel cracks Cobar codeSPONSOREDpeel miningFair enough too.Read More