China is imposing anti-dumping duties on imports of stainless steel billet, slab, hot-rolled plate and coil produced in the European Union, Japan, South Korea and Indonesia, the country's Ministry of Commerce said on Monday July 22.The duties will apply for five years beginning on July 23 after a final ruling in an anti-dumping investigation found that the imports caused substantial dama...Read More
Base metals prices traded on the London Metal Exchange continued to capitalize on marginal gains made in the morning session on Wednesday July 24, with the pervading macro optimism and a weaker US dollar overshadowing modest turnover.Nickel rebounded 2.6% to close at $14,545 per tonne, retracing some the significant gains made last week when the three-month contract hit a $15,115-per-tonne high on...Read More
The dramatic shift in the dynamics of the lithium market over the past four years has changed business practices and increased demand for price transparency. The dramatic shift in the dynamics of the lithium market over the past four years has changed business practices and increased demand for price transparency. Fueled by anticipated growth in the global battery market and the consequent price s...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from Fastmarkets' Wednesday July 24 pricing session in Europe:Key drivers The ferro-titanium market has stabilized after a run of losses and while there was one sale around $4.50 per kg and below the current range, it was in isolation, with most sources expecting a stabilizing in the market. The ferro-titanium market is establishing a price floor, with producer supply cited to be in...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 24 that are worth another look.While Vedanta cheered over South Africa's recent court ruling against the Zambian government's liquidation of its majority-owned Konkola Copper Mines, Zambian officials rebuked the decision and denied the enforceability of the foreign ruling that determines the future of the country's l...Read More
The dream of building a new world-class copper-gold mine in Pakistan in an area bordering Afghanistan and Iran has been dashed, for now at least. The saga of Tethyan Copper Co's (TCC) efforts to develop the Reko Diq mine found resolution last week with an International Centre for Settlement of Investment Disputes (ICSID) ruling in favor of TCC following a dispute that has rumbled on for years.TCC,...Read More
The dramatic shift in the dynamics of the lithium market over the past four years has changed business practices and increased demand for price transparency. The dramatic shift in the dynamics of the lithium market over the past four years has changed business practices and increased demand for price transparency. Fueled by anticipated growth in the global battery market and the consequent price s...Read More
China's hot-rolled coil sellers cut their prices on Wednesday July 24 amid weak demand, although some participants believe a rebound could take place in days due to ongoing production curbs in the northern region.DomesticEastern China (Shanghai): 3,830-3,850 yuan ($557-559) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, down 20 yuan per tonneSpot prices fell...Read More
James HyerczykJul 23, 2019 9:00 PM GMTGold futures weakened on Tuesday, pressured by a strong U.S. Dollar that hit its highest level against a basket of currencies since May 31. The greenback was supported by a lower Euro and British Pound.The news that the Trump administration and lawmakers had reached a two-year deal that raises limits on government borrowing to cover spending helped support the...Read More
Prices for seaborne cargoes of low-ash, low-sulfur coking coal in the second-tier segment continue to find support from sustained interest among Chinese buyers.A cargo of top-quality materials in the segment was traded at $166-167 per tonne fob Australia, sources told Fastmarkets on Wednesday July 24.Market participants in China reiterated that a tight supply of good-quality second-tier materials...Read More
An accumulation of high-grade copper scrap in the United States, following China's recent embargo of the material, has led to a drop in the US copper cathode premium range for the first time in a month. Elsewhere, positive forward spreads on the London Metal Exchange and ample availability kept Shanghai and Rotterdam premiums steady. Scrap build-up causes US cathode premium to widen downward Shang...Read More
Key data from the Wednesday July 24 pricing session in Europe. Key drivers Antimony prices are holding firmer for both grades in Rotterdam with slightly more interest from traders than in previous weeks. Some major suppliers are said to be resuming production while traders refused to cut offers despite thin spot trading...Read More
The price of mesh-quality wire rod in Southern Europe continued to narrow upwards week on week on Wednesday July 24, with Italian mills looking to raise their offer prices ahead of the summer slowdown, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?480-500 ($536-559) per tonne on Wednesday, narrowing...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday July 24 that are worth another look.While Vedanta cheered over South Africa's recent court ruling against the Zambian government's liquidation of its majority-owned Konkola Copper Mines, Zambian officials rebuked the decision and denied the enforceability of the foreign ruling that determines the future of the country's l...Read More
The rate of decline in Brazil's production of primary aluminium slowed in June, when Norsk Hydro's Albras smelter started to ramp-up production to more than 50% capacity, the country's association for the sector, Abal, said on Wednesday July 24.Data from Abal showed that the country produced 48,600 tonnes of aluminium ingots and extruded billets in June, 2.40% less than the 49,800 tonnes of June 2...Read More
Trade issues and macro-economic sentiment were affecting copper prices and short-term consumption, but customer demand was "certainly not falling off a cliff," according to the chief executive officer of US producer Freeport McMoRan.Richard Adkerson said on Wednesday July 24, during a call for the company's second-quarter results, that uncertainties from the trade dispute between the United States...Read More
A summary of Freeport-McMoRan's results for the second quarter of 2019.A summary of Freeport-McMoRan's results for the second quarter of 2019.In brief Second-quarter copper sales declines, as previously anticipated, with full year sales expected to be lower while the company transitions its giant Grasberg mine in Indonesia from open pit to underground. The company started ore extraction from...Read More
While Vedanta cheered over South Africa's recent court ruling against the Zambian government's liquidation of its majority-owned Konkola Copper Mines (KCM), Zambian officials rebuked the decision and denied the enforceability of the foreign ruling that determines the future of the country's largest copper smelting assets. The South Gauteng High Court on Tuesday July 23 granted Vedanta an urgent in...Read More
Ground preparation for a new copper smelter in Indonesia is in progress, with construction expected to begin in 2020, according to Freeport-McMoRan, one of the project's joint venture partners. The smelter is part of a package agreed by Freeport to extend the mining rights of its Indonesian unit PT-FI from 2031 to 2041. Under the terms of the agreement, PT-FI is committed to construct a new smelte...Read More