The Indonesia Commodities & Derivatives Exchange (ICDX) has ended the suspension of key smelter inspector PT Surveyor Indonesia in connection with the launch of its new physical tin contract, which is set to transfer tin exports to bonded warehouses for the first time in the exchange's history, ICDX chief executive officer Lamon Rutten said on Monday March 4. PT Surveyor was ordered to suspend ope...Read More

Low-grade manganese ore prices rose in China last week in active trading amid strong demand, while global manganese alloys prices were largely stable - barring China, where prices weakened on muted buying. Low-grade ore prices gain up to 22 cents per dmtuAlloy prices keep sliding in ChinaIndian silica-manganese prices edge upEuropean alloy prices stabilize Low-grade manganese ore prices jumped by...Read More

Fastmarkets proposes to increase the frequency of publication of its copper concentrates treatment charges and refining charges (TC/RC) Asia Pacific index and make small adjustments to the index' specifications.Under the proposals, Fastmarkets will publish the index weekly instead of twice-monthly. The chemical specification of what Fastmarkets considers to be clean standard-grade concentrates wou...Read More

Jiangxi Copper plans to buy a controlling stake in major copper, silver and lead smelter Yantai Humon Group, the Chinese copper giant said in a filing to the Shanghai Stock Exchange (SSE) on Monday March 4. If finalized, the purchase will see Jiangxi Copper regain its top position as the Chinese largest copper producer in terms of capacity - approximately 1.73 million tonnes of annual copper...Read More

The benchmark standard-grade cobalt price slumped to two-year lows in February amid a surplus of metal, leaving the market to shrug off longer-term bull signs on the supply and demand side. Price moves Cobalt metal prices continued to tumble in February, with concerns of further declines deterring consumers from making large spot purchases. Where possible, buyers have opted to procure cobalt hydro...Read More

Key data from the pricing sessions in London and Shanghai on Friday March 1.China Key drivers Most Chinese traders insisted offering at higher prices due to increased material costs and the quick appreciation of the yuan, but no spot deals were concluded. The final prices for some Japanese tenders were heard to have closed in range of $1,480-1,520 per tonne fob. Yet market participants downplayed...Read More

Turkish steel mills continued to book deep-sea scrap at a slow pace at the end of last week and prices remained largely steady at the start of this week, sources said on Monday March 4.A steel mill in the Iskenderun region booked a European cargo, comprising 17,500 tonnes of HMS 1&2 (75:25) and 17,500 tonnes of bonus at an average price of $314.50 per tonne cfr on late Friday or Saturday.The cargo...Read More

Turkish domestic scrap prices have remained largely stable over the past week on moderate demand, sources said on Monday March 4.Fastmarkets' weekly price assessment on Monday for domestic auto bundle (DKP-grade) scrap in Turkey was TRY1,650-1,820 ($307-338) per tonne delivered, narrowing upward from the TRY1,630-1,820 per tonne of last week.This...Read More

The US copper market began the week on weak footing on Monday March 4 despite progress between the United States and China on the trade dispute. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9215 per lb. In trade talks, discussions between the US and China could be indicating resolution on the two countries' continued trade...Read More

Canadian multi-metal producer Rathdowny Resources has appointed the former Farallon Mining president Dick Whittington to his new role, as announced in a press release from March 1.Whittington has over 40 years' experience in the mining sector and has worked on global projects across Canada, Panama, Papua New Guinea, Australia and Mexico.It was in Mexico that he founded and chaired the Canadian Min...Read More

Three-month base metals prices on the London Metal Exchange were for the most part stronger on the morning of Monday March 4, with all but tin in positive territory. The complex recorded an average gain of 0.4%, while tin was down by 0.1% at $21,630 per tonne.Nickel led on the upside with a 1% gain to $13,305 per tonne, having closed last Friday at $13,175 per tonne, and copper was up by 0.3% at $...Read More

The benchmark standard-grade cobalt price slumped to two-year lows in February amid a surplus of metal, leaving the market to shrug off longer-term bull signs on the supply and demand side. Price moves Cobalt metal prices continued to tumble in February, with concerns of further declines deterring consumers from making large spot purchases. Where possible, buyers have opted to procure cobalt hydro...Read More

Key data from the Thursday February 28 pricing session in Europe. Key drivers Cobalt hydroxide payables rose steadily over January and February while metal prices plummeted; lower metal prices are understood to have pushed some artisanal supply out of the market, generating greater interest in traceable units. In real terms, paid prices for cobalt hydroxide continued to slide in February due...Read More

Fastmarkets launched two reference prices for the cobalt hydroxide market on Thursday February 28: a cobalt hydroxide payable indicator, and a cobalt hydroxide index, both min 30% Co, cif China. Fastmarkets launched two reference prices for the cobalt hydroxide market on Thursday February 28: a cobalt hydroxide payable indicator and a cobalt hydroxide index, both min 30% Co, cif China. After a con...Read More

The market for flat steel exports from the Commonwealth of Independent States (CIS) has been stable over the past week, although insiders' moods have gone in different directions, sources told Fastmarkets on Monday March 4.Fastmarkets' weekly price assessment for CIS-origin exports of hot-rolled coil (HRC) was $520-530 per tonne fob Black Sea on March 4, unchanged week on week."Buyers in Turkey re...Read More

Turkey's flat steel export volumes rose by 55.37% year-on-year in January, according to the latest data from the Turkish Statistical Institute (TUIK). The main reason for the increase was that the local demand was weak in the country in the last quarter of 2018, when orders to be...Read More

Turkey's import volumes of flat steel decreased by 27.06% year on year in January 2019, according to the Turkish Statistical Institute (TUIK).The country imported 497,487 tonnes of flat steel in January of this year, compared with 682,069 tonnes in January 2018, TUIK statistics showed.Demand for flat steel in Turkey has been weak since August 2018, when United States president Donald Trump doubled...Read More

Here are five Fastmarkets MB stories you might have missed on Monday March 4 that are worth another look.The Indonesia Commodities & Derivatives Exchange (ICDX) has ended the suspension of key smelter inspector PT Surveyor Indonesia in connection with the launch of its new physical tin contract, which is set to transfer tin exports to bonded warehouses for the first time in the exchange's his...Read More

UK steel industry body UK Steel and steelmaker British Steel have both welcomed a recent government announcement that the UK will formally adopt many of the existing EU trade protection measures for the steel sector once the country leaves the trading bloc.The UK government's secretary of state for international trade, Liam Fox, announced in the House of Commons on February 25 that the UK will ado...Read More

European long-steel buyers resisted higher offers throughout February while demand levels continue to dawdle behind higher raw material prices that pushed some producers to raise offers across the long steel slate.Prices in March will depend on any shift in the balance of power between the high producer offers and the sluggish end-user demand. Producers were unable to affect any of Fastmarkets' Eu...Read More