Canadian copper producer Taseko has decided to take action to protect itself against the tumbling London Metal Exchange copper price.Vancouver-listed Taseko placed put options for 22.5 million lbs of copper (10,206 tonnes) - equivalent to 75% of February, March and April production at its British Colombia-located Gibraltar mine - it said in a notice on Monday February 3.Read More

Russian aluminium producer UC Rusal is suspending the operation of its Bauxite Company of Guyana (BCGI) business in Guyana on "serious illegitimate actions" but will continue to obtain bauxite supply from its other mines, it said on Monday February 3.Rusal owns 90% of BCGI, based in Georgetown, which has an annual production capacity of 2.3 million tonnes of bauxite. The remaining 10% belongs to t...Read More

View the Fastmarkets holiday pricing schedule for 2020 and 2021. Click on the image below to view the Fastmarkets holiday pricing schedule for base metals, minors, ores & alloys and industrial minerals, and ferrous prices for 2020 and 2021.The 2020 calendar has been updated to include the extended Lunar New Year holiday in China, which affected certain prices. See the following pricing notices for...Read More

The three-month copper price on the London Metal Exchange was higher during morning trading on Monday February 3, with price action improving by 0.5% against strong turnover, while nickel futures also climbed over the morning. Copper's outright price on the LME was recently at $5,590 per tonne, up from Friday's closing price of $5,567 per tonne, while turnover led the complex over the morning with...Read More

While markets in China catch up after more than a week of holiday, most base metals prices on the London Metal Exchange are rebounding because China's sell-off has not been as severe as feared.China's CSI 300 was down by 7.7%, while pre-market Dow Jones Futures are indicated up by 0.6%.SHFE copper price falls 7%, which was limit down, but were recently quoted off by 6.5%, suggesting some buying ha...Read More

Base metals prices on the Shanghai Futures Exchange were all down heavily at close of morning trading on Monday February 3, the first trading day after China's extended Lunar New Year holiday.The weakness comes amid heightened risk aversion stemming from a worsening coronavirus outbreak, which has resulted in a slump across most sectors this morning."The virus outbreak uncertainty and its impact o...Read More

Steel plate prices in the United States was flat during the week ended Friday January 31, with market participants expressing pessimistic views on the outlook amid negative trends in the ferrous scrap market.Sources reported lead times of 4-5 weeks at most mills, which could indicate that mills are under pressure to fill their order books. In a healthy market, plate lead times should be longer tha...Read More

Recent bookings of CIS-origin billet by customers in North Africa and by traders have helped to slow the downward trend seen in pricing in the week ended January 31.Nevertheless, market sentiment remained negative amid falling international prices for ferrous scrap as well as low demand for finished long steel products.Fastmarkets' daily steel billet index, export, fob Black Sea, CIS, was $393 per...Read More

Competition in the global steel markets remains fierce and here Fastmarkets provides an update on the new, progressing and closed trade cases from around the world in January 2020.1. Turkey: rebar, pig iron, cold-rolled coil2. China: copper, aluminium and ferrous scrap3. Morocco: HRC from Turkey4....Read More

The flat steel export market in the Commonwealth of Independent States (CIS) was slow in the week ending Monday February 3, with the only price changes being seen in cold-rolled coil.Fastmarkets' weekly price assessment for steel hot-rolled coil, export, fob Black Sea, CIS, was $475-490 per tonne on February 3, unchanged week on week.The workable market level was still estimated around $475 per...Read More

The Turkish steel mills continued to hold back from deep-sea scrap purchases on Monday February 3, expecting lower prices to emerge, sources told Fastmarkets.The daily scrap indices went down by almost $10 per tonne on January 29, when a US cargo was heard sold at $275 per tonne cfr for HMS 1&2 (90:10).That was the sole cargo sold last week, with mills seeking even lower prices because they were s...Read More

Domestic auto bundle scrap prices in the Turkish market have weakened further, although slightly, over the past week in response to the fall in imported scrap values, sources said on Monday February 3.Turkish deep-sea scrap import prices have declined by around $10 per tonne, after a deal heard on January 29 for a United States cargo containing 30,000 tonnes of HMS 1&2 (90:10) at $275 per tonne cf...Read More

Seaborne coking coal prices were down on Monday February 3, although trading activity was relatively muted with participants awaiting Chinese buyers' next moves to gauge market direction.Fastmarkets' indicesPremium hard coking coal, fob DBCT: $150.79 per tonne, down $1.50 per tonnePremium hard coking coal, cfr Jingtang: $162.73 per tonne, unchangedHard coking coal, fob DBCT: $127.01 per tonne, unc...Read More

Seaborne iron ore prices fell on Monday February 3 amid fears of weakened demand caused by an expected slowdown in China's construction sector.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $80.38 per tonne, down $4.56 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $79.42 per tonne, down $4.56 per tonne. 62% Fe low-alumina fines, cfr Qingdao: $81.61 per tonne, down $4.94 per tonne.58%...Read More

The direct-reduced (DR) iron pellet premium has reduced in contracts for shipments in the first quarter 2020 mainly on a weak scrap market and pessimistic buyer mood, sources told Fastmarkets. Fastmarkets' assessment of the iron ore DR-grade pellet premium, Middle East reference was $31 per tonne on Friday January 31, down from $39 per tonne on December 31."The scrap market's weak again...Read More

Sellers of Turkish rebar tested the Singapore market over the past week by issuing lower offers to the republic after the Lunar New Year holiday.They offered cargoes at $450-455 per tonne cfr to the Southeast Asian country. No other offers for cargoes of other origin were heard.Participants were largely just returning to the spot market during the week and were not actively looking to purchase mat...Read More

Global scrap prices fell last week due to weak downstream demand and market jitters following the outbreak of the Wuhan coronavirus in China. Turkish import prices slide on weak downstream demandUnited States' ferrous scrap export prices tumble in latest dealsTaiwan import prices dip on virus jittersIndian import prices dip in line with international pricesTurkeyTurkish imported ferrous scrap pric...Read More

China's hot-rolled coil sellers lowered their offers significantly on Monday February 3, the first day after the country's Chinese New Year break, amid bearish sentiment triggered by a virus outbreak.DomesticEastern China (Shanghai): 3,630-3,650 yuan ($523-526) per tonne, down 230 yuan per tonneNorthern China (Tangshan): 3,300 yuan per tonne, down 290 yuan per tonneA Shanghai-based trader told Fas...Read More

Rebar offers in eastern China dropped sharply on Monday February 3, the first day of work after the Chinese New Year for some market participants, amid sustained fears over the novel coronavirus in the country.Eastern China (Shanghai): 3,400-3,450 yuan ($490-497) per tonne, down 220-240 yuan per tonneNorthern China (Beijing): 3,540-3,560 yuan per tonne, unchangedA handful of sellers in the eastern...Read More

The impact of the coronavirus outbreak from Wuhan city, China, is positively affecting antimony prices in Europe, with low stocks in Rotterdam and the market heavily dependent on supply from China.The East Asian country accounts for 78% of global antimony output, according to the United States Geologic Survey (USGS). Fastmarkets assessed the price for antimony max 100 ppm Bi, in-whs Rotterdam at $...Read More