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Mike Henry has been named chief executive officer and executive director of BHP, effective from January 1, 2020.Henry will succeed Andrew Mackenzie, who retires as CEO on December 31, the Australian miner said early on Thursday November 14.Henry has served as...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 13.Please click...Read More
The three-month zinc price on the London Metal Exchange continued its sell-off at the close of trading on Wednesday November 13, recording moderate turnover, while tin's outright price teased a break below nearby support.Zinc futures on the LME closed at $2,422 per tonne on Wednesday, the lowest closing price for the metal since October 16. Turnover was broadly average at just over 7,400 lots exch...Read More
Overall, metals and mining equities in Toronto missed out on the fun, closing a collective 2% lower. However gold major Barrick Gold (TSX: ABX) gained 1.5% for the day and Guyana Goldfields (TSX: GUY), which plunged in October on lowered guidance and another review of its flagship operation, showed an improvement. Its shares gained C10c to close up almost 18% at 66c, but they remain near...Read More
A cutback in chrome ore production is needed to rebalance the surplus affecting the ferro-chrome supply chain, delegates claimed at this week's ICDA Chromium 2019 conference in New Delhi, India.Following prolonged weakness in the metallurgical chrome ore and ferro-chrome markets this year, a number of participants have reduced their FeCr output in recent months, in an attempt to contain the amount...Read More
Chinese copper smelters will continue to lead benchmark copper concentrate negotiations despite approaching Japan's Pan Pacific Copper (PPC) to negotiate the annual deal from a stronger position, sources said. During late-October's LME Week, talk emerged that Chinese smelters would accept an agreement set by PPC, Asia's largest copper smelter outside China, if it settled a number earlier than duri...Read More
Prices for seaborne low-grade and high-grade manganese ore were on divergent paths in the week ended Friday November 8, with the former continuing to trend downward on persistently weak market sentiment while the latter experienced a slight rebound following a number of large-volume deals.Fastmarkets' manganese ore index 37% Mn, cif Tianjin dropped by 10 cents week on week to $3.25 per dry metric...Read More
An overview of the minor metals markets and their latest price moves.Read More
Turkish steel producers have continued their deep-sea scrap purchases for December deliveries at steady prices, sources said on Wednesday November 13.A steel mill in the Marmara region booked a Baltic Sea cargo, comprising 25,000 tonnes of HMS 1&2 (80:20) at $262 per tonne and 5,000 tonnes of bonus at $272 per tonne cfr.A Monday booking from...Read More
Markets in general are under pressure following United States President Donald Trump's speech at the Economic Club of New York on Tuesday November 12, where he failed to provide any reassurance that a trade deal had been reached with China; indeed, Trump even threatened that tariffs would be "raised very substantially" if a deal was not reached.Gold prices and US treasuries rise while demand for h...Read More
The European market for domestic hot-rolled coil has been quiet over the past week with domestic steelmakers taking a step back from trading activity but expected to return with higher offers soon, sources told Fastmarkets on Wednesday November 13.And the anticipated offer rise was expected to be at least partially accepted by buyers, the sources added.The positive mood in the market was backed up...Read More
China's hot-rolled coil prices gained more strength on Wednesday November 13 on improved domestic demand, which encouraged exporters to keep offers high.DomesticEastern China (Shanghai): 3,550-3,560 yuan ($507-508) per tonne, up 40 yuan per tonneNorthern China (Tangshan): 3,530-3,540 yuan per tonne, widening upward by 10 yuan per tonneDemand in eastern China picked up during the day, which some se...Read More
Export prices for Chinese plate softened over the past week after a major mill bucked the trend and undercut the rest of its peers.Fastmarkets' price assessment for December/January shipments of steel heavy plate export, fob China main port was $435-450 per tonne for the week ended Tuesday November 12, widening downward by $5 per tonne from $440-450 per tonne fob a week earlier.While export offers...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday November 13 that are worth another look.The London Metal Exchange is seeking to launch a new cash-settled main Japanese ports (MJP) aluminium premium contract settled against a Fastmarkets price, the exchange said on November 13.Low demand for long steel products such as rebar was at the root of the problems facing the steel i...Read More
Steel producers in Turkey expect output to increase in the last quarter of 2019, the Turkish Steel Producers' Association (T???oeD) said on Wednesday November 13.Turkey produced 25.29 million tonnes of crude steel in January-September 2019, down by 10.09% from 28.12 million tonnes in the corresponding nine-month period of last year.This meant that Turkey recorded the highest rate of decrease among...Read More
The price of steel wire rod in Europe has remained stable this week despite recent substantial increases in the price of ferrous scrap, Fastmarkets heard on Wednesday November 13.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe, was ?,?430-450 ($474-496) per tonne on November 13, unchanged week-on-week.The corresponding price assessment on...Read More