Turkish pipe export prices have continued to slip because of the increased supply available as a result of safeguarding import quotas imposed by Europe, sources said on Wednesday April 10.Fastmarkets' monthly export price assessment for EN10219-standard, grade-S235 tube, with 2mm wall thickness, fell to $570-590 per tonne fob on Wednesday, from $590-600 per tonne on March 13.The mills in the...Read More
A summary of Vedanta's production results for the fiscal year ended on March 31, 2019.In brief Vedanta's Indian copper output decreased sharply by 78% due to the Tuticorin smelter's shutdown after protests against its plans to double capacity reached fever pitch toward the end of March.Custom copper volumes at the company's Zambian projects decreased by 22% to 87,000 tonnes over the 2019 financial...Read More
The price for rebar produced and delivered in Southern Europe has narrowed downward by ?,?5 per tonne over the past week amid poor demand, market participants told Fastmarkets on Wednesday April 10.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe fell to ?,?485-510 ($547-575) per tonne delivered on Wednesday, down from ?,?485-515 per tonne delivered on April 3.Market part...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory. Volumes were thin over the day's trading, with copper's 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically signifi...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 10. Please click...Read More
Domestic prices for hollow steel sections in both Northern and Southern Europe remained stable this week although feedstock prices continued to go down, sources told Fastmarkets on Wednesday April 10.Fastmarkets' domestic price assessment for commodity-size, grade-S235 square hollow sections made in Northern Europe was unchanged week on week on April 10 at ?,?630-640 ($710-721) per tonne delivered...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
Investing.com - Gold prices slipped on Wednesday in Asia even as stocks declined after the International Monetary Fund (IMF) downgraded its economic outlook and puts growth forecast at the lowest levels since 2009.Gold futures traded on the Comex division of the New York Mercantile Exchange were down 0.1% to $1,306.65 an ounce by 11:10 PM ET (03:10 GMT).Asian equities and other risk assets fell on...Read More
Carlo Alberto De Casa15 hours ago (Apr 10, 2019 9:27 AM GMT)But the bullion run-up has also been held back by the risk-on sentiment dominating markets and a greater investor appetite for risk, which has led to greater inflows of capital into the stock market and towards assets perceived as riskier, such as crude oil, which scored a substantial rally in the first quarter of 2019.So let’s exa...Read More
Base metals prices on the London Metal Exchange were mostly lower at the close of trading on Wednesday April 10, with three-month lead prices down by 1.5% while zinc was the only metal trading in positive territory. Volumes were thin over the day's trading, with copper's 12,735 lots topping the complex by the close, while a marginal uptick in the dollar index back above the psychologically signifi...Read More
The Comex copper price inched lower in morning trading on Wednesday April 10 with a stronger dollar and lack of fresh data weighing on the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9235 per lb. "While we view copper's fundamentals as likely to tighten in the second half of the year, continued sellin...Read More
The queue for aluminium at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim has almost halved over the past month to 121 days as of the end of March. This is down from the 229-day queue registered at the end of February, according to LME data released on Wednesday April 10. The extended wait for deliveries originally built up due to mass cancelations of LME alum...Read More
A pick up in demand has effected universal upward pressure on nickel premiums in the United States, with increased liquidity in the European full-plate market pushing premiums up, while all Chinese premiums were trading flat amid the closed import window.Premiums tick up in fairly brisk US tradeUS premiums moved up for both nickel briquettes and 4x4 cut-cathodes in a busy domestic spot market, wit...Read More
The European domestic price of mesh-quality wire rod remained flat week on week on Wednesday April 10, with continued price stability expected over the coming weeks, market participants told Fastmarkets.Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe was unchanged at ?,?535-550 ($603-620) per tonne delivered on Wednesday."We have filled our order books fo...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday April 10 that are worth another look.Electric vehicles will shift to using solid-state batteries using lithium metal in the long term, but requisite developments in the manufacturing process mean batteries with liquid electrodes will remain in use until at least the late 2020s, DCDB Group managing partner Emily...Read More
Three major global trends could together create a need for more than 100 million tonnes of copper between now and 2040, transforming the market, according to the chief executive officer of Atlantic Copper.These trends were urbanization and household electrification, a changing energy mix, and the use of electric vehicles, Javier Targhetta told CRU's 18th World Copper conference in Santiago, Chile,...Read More
Fastmarkets' alumina index fob Australia dropped 2% on April 10 from the previous day, due to a slight easing of tightness in the market. The daily fob Australia alumina index fell to $402 per tonne on Wednesday April 10 from $411.29 per tonne the previous day and 3.6% lower week on week from $417.29 per tonne. Key drivers Index pushes lower after a deal for Australian alumina was concl...Read More
Zambian villagers will be able to pursue mining giant Vedanta Resources in the United Kingdom in a case involving lost income due to water pollution, the UK Supreme Court decided in a ruling on Wednesday April 10. The Supreme Court dismissed an appeal from Vedanta Resources and its Zambian subsidiary Konkola Copper Mines (KCM) that would have ensured the case proceed in Zambia, a company statement...Read More
The Comex copper price inched lower in morning trading on Wednesday April 10 with a stronger dollar and lack of fresh data weighing on the base metals complex. The copper price for May settlement on the Comex division of the New York Mercantile Exchange dipped by 1.05 cents to $2.9235 per lb. "While we view copper's fundamentals as likely to tighten in the second half of the year, continued sellin...Read More
The queue for aluminium at London Metal Exchange-approved warehouses in Port Klang, Malaysia, operated by Istim has almost halved over the past month to 121 days as of the end of March. This is down from the 229-day queue registered at the end of February, according to LME data released on Wednesday April 10. The extended wait for deliveries originally built up due to mass cancelations of LME alum...Read More