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A summary of base metals premiums from across the globe for the week to Tuesday December 10.Please click...Read More
Copper ended the Tuesday December 10 trading session on the London Metal Exchange at an intraday high and seven-month peak of $6,100 per tonne.And the three-month nickel price recovered some lost ground after falling by 3.5% this morning.The three-month copper price closed at its highest since May, climbing from an intraday low of $6,057 per tonne. Total volumes at the close were some 15,600 lots....Read More
Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Codelco, Escondida and Colluahasi almost enough to offset output drops at Antofagasta and Anglo American. Copper mines in the country produced 490,000 tonnes of copper content in October, from 490,400 tonnes a year before, Chilean copper commission Cochilco said on Friday December 6. This...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 10 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week to December 10 amid continued gains in the Chinese domestic market.Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Code...Read More
Jack ChanPosted Dec 10, 2019Gold sector as represented by $HUI is on a long-term BUY signal.Long-term signals can last for months and are more suitable for investors.Gold sector as represented by $HUI is on a short-term buy signal.Short-term signals can last for weeks and are more suitable for traders.Speculation remains high despite the recent pullback.Speculation is at a reasonable level to resu...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday December 10 that are worth another look.Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil were mostly stable during the week to December 10 amid continued gains in the Chinese domestic market.Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Code...Read More
Mogale Alloys has issued a Section 189 notice - a South African legal requirement representing an intention to retrench staff - amid low chrome ore and ferro-chrome prices. Ilitha Mining, another subsidiary of Afarak, has also issued a Section 189 notice, the company said. Helsinki and London-listed mining and metallurgical group Afarak said on Monday December 9 it has been forced to scale down op...Read More
Copper production in Chile fell by a slight 0.1% year on year during October, with higher volumes mainly from Codelco, Escondida and Colluahasi almost enough to offset output drops at Antofagasta and Anglo American. Copper mines in the country produced 490,000 tonnes of copper content in October, from 490,400 tonnes a year before, Chilean copper commission Cochilco said on Friday December 6. This...Read More
South African state power utility Eskom was forced to implement stage 6 load shedding for the first time ever on Monday December 9 amid a severe lack of generating capacity.Eskom implements load shedding - controlled power blackouts - to reduce pressure on the country's power grid when power is severely constrained.Eskom had previously outlined plans for stage 5 and 6 load shedding but, prior to M...Read More
Reversing a recent re-commitment to its New Caledonian operations, Brazilian miner Vale told investors it would "exit VNC (Vale New Caledonia)", but some analysts wonder if or how Vale will extricate itself from the long-troubled South Pacific island venture.Vale did not specify at its annual investor briefing how it would exit the nickel and cobalt mine. "By the first half of 2020, we will tell y...Read More
Sellers in the United States' ferrous scrap market will likely enjoy a third consecutive price increase in January, with domestic steel mills continuing to strike post-market deals above December levels in order to secure enough material to cover their programs."Fundamentally, business isn't really that much better but the mills beat the prices down so hard that scrap just dried up. They basically...Read More
Turkish steel producers continued to buy deep-sea scrap on Tuesday December 10, pushing up prices ahead of the winter holiday period in the United States and Europe, sources told Fastmarkets.A steel producer in the Northern Turkey booked a cargo from the US on Tuesday, comprising 33,000 tonnes of HMS 1&2 (80:20) at $295 per tonne, 5,000 tonnes of shredded at $300 per tonne and 2,000 tonn...Read More
Base metal markets have become more mixed this week with copper and tin running higher, zinc, lead and nickel consolidating just above low ground and aluminium oscillating sideways.Broader markets that have been seeing more risk-on are now consolidating while they wait for some key political decisions on the United Kingdom's general election, and its ramifications for Brexit, and on the United Sta...Read More
The approval of ?,?3.2 billion in subsidies by seven European Union members could generate a major mineral supply and processing chain to manufacture lithium-ion batteries in Europe. The decision, announced on Monday December 9 by the European Commission, effectively greenlights a major collaborative project designed to strengthen European battery production.This "Important Project of Common Europ...Read More
Hot-rolled coil prices in the United States have continued to bounce around the $28-per-hundredweight ($560-per-short-ton) level in a quiet pre-holiday spot market.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $27.96 per cwt ($559.20 per ton) on Tuesday December 10, down by 0.6% from $28.14 per cwt on December 9 but...Read More
Domestic prices for hot-rolled coil in Northern Europe edged higher on Tuesday December 10, market sources told Fastmarkets.Fastmarkets' steel hot-rolled coil index domestic, ex-works Northern Europe, was ?,?433.08 ($479.14) per tonne on December 10, compared with ?,?432.75 per tonne on Monday.The index is based on deals for the material heard at ?,?430-435 per tonne ex-works, and workable prices...Read More