The demand outlook for the metals has improved now that two of China's manufacturing purchasing managers' indices (PMI) showed manufacturing was in expansion mode. The state PMI moved back above 50 for the first time in seven months in November and the Caixin manufacturing PMI has now shown month-on-month gains for four consecutive months.Asian equities are showing gains this morning, led by a 1.0...Read More

Base metals prices on the Shanghai Futures Exchange were mixed during the morning trading session on Monday December 2 while market participants awaited further developments in trade talks between China and the United States.Optimism surrounding a "partial" trade deal between the world's two largest economies being signed before the end of the year took a hit last week after United States Presiden...Read More

Turkey's imports of flat steel products increased by 18.21% year-on-year in October, according to figures from the Turkish Statistical Institute (TUIK).The country imported 600,015 tonnes of flat steel, compared with 507,580 tonnes in the corresponding month of 2018, the statistics published on Friday November 29 showed.The increase in imports came amid rising prices for flat steel in Turkey, espe...Read More

Import prices for steel slab in Southeast Asia and East Asia widened upwards over the past week as suppliers increased their asking prices amid a sustained uptrend in the price of HRC.But market participants questioned whether these hikes will be accepted by buyers"It is unlikely that re-rollers can accept the hiked prices given the narrow spread with regional HRC prices," a trader in Taiwan said....Read More

China's hot-rolled coil prices in the east gained on Monday December 2, with supply remaining short partly due to slow logistics and rising transportation costs.DomesticEastern China (Shanghai): 3,720-3,730 yuan ($529-530) per tonne, up 10-20 yuan per tonneNorthern China (Tangshan): 3,640 yuan per tonne, unchangedSpot prices gained in Shanghai following futures increases, with a source there...Read More

Turkish steel producers continued to book deep-sea scrap for January shipment at steady prices, but at a slower pace, sources told Fastmarkets on Monday December 2.A steel mill in the Marmara region booked a US cargo late on Friday November 29, comprising 10,000 tonnes of HMS 1&2 (80:20) at $272 per tonne and 30,000 tonnes of shredded at $277 per tonne cfr.This was the first US deal since November...Read More

The 62% Fe iron ore market trended lower in November, with prices falling 5.5% month on month, while the 65% price fell 1% from October. Traded volumes in the 65% Fe derivatives contract on the Singapore Exchange, which is settled against Fastmarkets' daily 65% Fe iron ore index, were 2.27 million tonnes in November, the second-highest total since its launch in December 2018. Open interest on Nove...Read More

Domestic ship scrap prices in Turkey increased over the past week in line with rising imported scrap values, sources said on Monday December 2.One steel mill in the Izmir region raised its buy price for ship scrap by $10 per tonne to $275 per tonne delivered, while three fellow mills were buying the same material at $270 per tonne.Read More

Iron ore prices advanced on Monday December 2 amid news of less stringent restrictions on steelmakers in China's steel hub of Tangshan.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $88.45 per tonne, up $0.99 per tonne.62% Fe Pilbara Blend fines, cfr Qingdao: $87.54 per tonne, up $0.99 per tonne.62% Fe low-alumina fines, cfr Qingdao: $88.32 per tonne, up $1.46 per tonne.58%...Read More

The import pig iron market in the United States became steadily more quiet during the week ended Friday November 29 as buyers completed restocking ahead of the Thanksgiving holiday. Fastmarkets' price assessment for pig iron, import, cfr Gulf of Mexico, US was at $325-326 per tonne on Friday, narrowing downward from $325-327 per tonne a week before. ...Read More

Seaborne coking coal prices moved up on Monday December 2, as spot trading activity remained robust. Fastmarkets indicesPremium hard coking coal, fob DBCT: $137.95 per tonne, up $3.29 per tonnePremium hard coking coal, cfr Jingtang: $146.63 per tonne, down $0.67Hard coking coal, fob DBCT: $120.70 per tonne, unchangedHard coking coal, cfr Jingtang: $130.25 per tonne, unchanged ....Read More

Fastmarkets has changed the publication day for its weekly Shanxi-origin, Tangshan-delivered domestic China coking coal price from every Friday to every Monday.The change follows market consultations that started on November 11.The specifications of the price remain unchanged:Price: Hard coking coal domestic China spot market, Shanxi-origin, delivered Tangshan, yuan/tonne Quality: Volatile ma...Read More

Seaborne iron ore concentrate and pellet prices continued to rise last week, with Chinese steelmakers still favoring higher grade materials given extending profitability.ConcentrateFastmarkets' weekly index for iron ore 66% Fe concentrate, cfr Qingdao rose by $3.56 per tonne to $104.11 per tonne on Friday November 29.The daily Fastmarkets index for iron ore 65% Fe Brazil-origin fines, cfr Qin...Read More

Fastmarkets will increase the frequency of its benchmark price assessments for standard and alloy-grade cobalt, in-whs Rotterdam, to daily from Monday February 3, 2020.From February 3, Fastmarkets will assess prices for the following two markets on a daily basis: Cobalt alloy grade, in-whs Rotterdam, $/lb Cobalt standard grade, in-whs Rotterdam, $/lb The decision to increase frequency follows an e...Read More

Key data from the pricing sessions in Asia and Europe in the week ended Friday November 30.China  The Chinese silicon 5-5-3 export price increased from previous week even though the market was quiet - the rise reflects tight domestic supply caused by a seasonal production suspension in Sichuan and Yunnan provinces and low operating rates at smelters in Xinjiang province.Chinese producers have...Read More

Key data from the pricing sessions in Asia and Europe in the week ended Friday November 30.China The price of antimony, MMTA standard grade II, ddp China continued lower for the fourth consecutive week in the week on November 29 in response to a few suppliers lowering their offers again to entice buying interest for the sake of cash generation.Several antimony suppliers cut their offers again last...Read More

Belgian battery-materials manufacturer Umicore has completed its purchase of cobalt refining and cathode precursor activities in Kokkola, Finland, from Freeport Cobalt for $203 million. The purchase is on a debt and cash-free basis and includes about $50 million of net working capital. It is anticipated that the acquisition will be earnings accretive from 2020 and value accretive from 2021, Umicor...Read More

Weekly Reports |Dec 03 2019Volumes in uranium markets surged in November as buyers from all corners jumped on the bandwagon.-Spot uranium volumes up 50%-Uncertainties still linger-Swedes prefer greenBy Greg Peel"The month of November was tumultuous on a number of fronts for the nuclear fuel industry," notes industry consultant TradeTech. "The decision by the US government to lift the waiver on Ira...Read More

Stewart Thomsonemail: stewart@gracelandupdates.comemail: stewart@gracelandjuniors.comemail:admin@guswinger.comDec 3, 2019While some analysts are getting a bit negative in their outlook for gold, the physical market is getting stronger and that’s very good news for investors.Pleaseclick here now.I predicted that Indian jewellers would step into the market in the $1465 area, and that has obvio...Read More

The latest sales pricing compares with the preliminary $6,200-6,500/t guidance in October.Read More