Low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, when market participants toned down fears of oversupply in the alloy market. Normally volatile low-grade manganese ore prices have held relatively steady since rebounding from this year's lows in January, after which market participants toned down fears of oversupply in the alloy market. F...Read More

Garry Jones, former chief executive officer of the London Metal Exchange, has been appointed as independent non-executive director and remuneration committee chair at ICBC Standard Bank, Fastmarkets understands. Jones was appointed as CEO of the LME after its acquisition by the Hong Kong Exchanges & Clearing (HKEX) in 2012 and fulfilled the role until 2017, when current CEO Matthew Chamberlain...Read More

Investing.com - Gold prices were little changed on Wednesday in Asia, holding below the key $1,300 level, as global stocks recovered from a slump earlier this week triggered by escalating U.S.-China trade tensions.Gold futures for June delivery, traded on the Comex division of the New York Mercantile Exchange, were at $1,295.95 per ounce by 12:30 AM ET (04:30 GMT).The precious metal broke above $1...Read More

Chris Vermeulen17 hours ago (May 15, 2019 7:58 AM GMT)Gold weekly chartWe issued both of these markets calls many months in advance of these dates/price levels targeting these moves.  In both cases, we issued these market calls well over 60 days prior to the move actually taking place.  The accuracy of these calls can be attributed to our proprietary price modeling solutions as well as t...Read More

Nickel's three-month price on the London Metal Exchange recovered at the close of trading on Wednesday May 15, climbing back above $12,000 per tonne while the metal's cash/three-month spread moved into backwardation for the first time since 2015.The metal's cash/three-month spread differential was recently seen in a backwardation of $9 per tonne, while its nearby June-July spread was now trading i...Read More

The possibility of another auction of indium stock held by the defunct Fanya Metal Exchange has weakened the buying appetite of consumers both in China and abroad. Word had circulated in the market since last week that around 20-100 tonnes of indium held in Fanya's warehouses could be auctioned by the end of May, market sources told Fastmarkets MB. Officials from the Alibaba online platform, where...Read More

Seaborne iron ore prices picked up on Wednesday May 15 following gains in China's futures market, and amid concerns that BHP's mine maintenance could affect supply at a later date.MB 62% Fe Iron Ore Index: $96.95 per tonne cfr Qingdao, up by $2.61 per tonne.MB 62% Fe Pilbara Blend Fines Index: $95.63 per tonne cfr Qingdao, up by $2.61 per tonne.MB 62% Fe Iron Ore Index-Low Alumina: $98.53 per tonn...Read More

Feralpi Stahl will raise capacity at its rebar and wire rod rolling mill in Riesa in the Saxony region of Germany to 1.3 million tonnes per year, the German division of Italy-based steelmaker Feralpi Group said.The company will invest ?,?60 million ($67.33 million) over a two-year period to increase capacity at Riesa, it said on Wednesday May 15."The investment will strengthen the current producti...Read More

The export market for steel slab and billet in Iran was very slow in the seven-day period to May 15 after the United States imposed sanctions on the country's steel trade, sources told Fastmarkets.US president Donald Trump ordered new sanctions on Iranian metals - including steel, aluminium and copper - on Wednesday May 8."Today's action targets Iran's revenue from the export of industrial metals...Read More

Here are five Fastmarkets MB stories you might have missed on Wednesday May 15 that are worth another look.Rising inventories of manganese ore at Chinese ports amid soaring import volumes were being fueled by changes to alloy smelters' purchasing habits, offset by low stocks at plants, market participants told Fastmarkets.Trafigura has consolidated its leadership team in the non-ferrous...Read More

Global premiums held over the week ended on May 14, while tin prices on the London Metal Exchange have been erratic and frequently at odds with record-low global stocks.Thin spot trade in the United States provides no basis for change but some offers trend down.Price volatility inhibits European trade.Chinese premiums extend lengthy flat-line trend.Premiums hold, but US buyers emboldenedThe US pre...Read More

A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 15. Please click...Read More

Garry Jones, former chief executive officer of the London Metal Exchange, has been appointed as independent non-executive director and remuneration committee chair at ICBC Standard Bank, Fastmarkets understands. Jones was appointed as CEO of the LME after its acquisition by the Hong Kong Exchanges & Clearing (HKEX) in 2012 and fulfilled the role until 2017, when current CEO Matthew Chamberlain...Read More

The record-high backwardation in the LME cash/three-month spread pushed the zinc premium in Europe to a historical low and the Taiwan zinc premium to decline for the first time in five months, while the recent drop in the LME lead price attracted buying interest in India and pushed the premium up. The European zinc premium fell to a historical low amid a record high LME backwardationTaiwan zinc pr...Read More

An uninspiring macro picture from China, which released its latest slew of lackluster economic data on Wednesday May 15, kept base metals prices on the London Metal Exchange relatively firm during morning trading on the same day."This morning's Chinese data is weak [and] the immediate reaction in the Chinese equity markets is muted," John Browning of BANDS Financial said.The markets seem to have a...Read More

Vale might invest as much as $250 million in Brazilian slab producer Companhia Sider??rgica do Pec?(C)m (CSP) over the next three years, to improve the steelmaker's balance sheet, the miner told Fastmarkets on Tuesday May 15.Despite recording an operating profit recently, CSP faces erosion of its capital, mostly because of the need to pay interest expenses and the depreciation of the Brazilian Rea...Read More

An accident at a steel mill owned by Brazilian steelmaker Companhia Sider??rgica Nacional (CSN) on Wednesday May 15 injured around 20 employees but had no impact on production there, the company said.The accident at the plant in Volta Redonda city, in Brazil's southeastern Rio de Janeiro state, was caused by a reaction during the removal of slag from equipment during the steelmaking process, CSN s...Read More

Steel H-beam prices in Northern and Southern Europe were stable this week, although pressure from falling scrap costs remains a feature of the market and beams prices could fall in the near future, sources told Fastmarkets on Wednesday May 15.One factor behind the lack of price movement, particularly in Southern Europe, was the Made in Steel event taking place in Milan, Italy, from May 14-16, wher...Read More

The price of rebar produced and delivered in Northern Europe has widened downward by ?,?5 ($6) per tonne amid hesitant end-user buying activity and continued concerns about demand, market participants told Fastmarkets on Wednesday May 15."Apparent demand from the construction sector is okay, but there is buyer hesitation, which is leading to some nervousness from mills, and they might drop the pri...Read More

The UK ferrous scrap market for deliveries to domestic consumers in May has settled at prices lower than a month earlier, matching losses reported in the export market, trade sources told Fastmarkets on Wednesday May 15.Export prices have fallen in line with weaker sales into the key destination of Turkey, they added.Most UK deals for May deliveries to domestic consumers have been settled at ?15...Read More