The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed Cobalt standard grade,...Read More
A summary of stainless steel producer Outokumpu's results for the third quarter of 2020. In brief Outokumpu's sales, deliveries and earnings decreased quarter on quarter amid continued Covid-19 pressures, following negative results in the second quarter. In Europe, rising competition from Asian imports and the typical seasonal consumer slowdown contributed to a challenging quarter. The...Read More
China's domestic stainless steel prices fell in the week ended Wednesday November 4, with the market tracking weakness in nickel futures.The three-month nickel contract on the London Metal Exchange fell steadily over the past week and ended Wednesday's official trading session at $15,422 per tonne, down by $427 per tonne (2.7%) from $15,849 per tonne on October 28.The most-traded January stainless...Read More
Market participants in China are increasingly confident that Chinese authorities will revive steel scrap imports into the country in 2021 following the release of new domestic scrap classification standards.A draft of the new standards for ferrous and stainless scrap for China's domestic market was released late last month. Market participants expect these standards to be launched and implemented...Read More
It has been two weeks since South Africa's cabinet approved a chrome ore export tax to support its chrome sector, and Chinese buyers say they would have little option but to accept the higher costs. China is the world's largest chrome ore importer and would therefore bear the brunt once the export tax is carried through. But the East Asian country has no choice but to brace for the price rise beca...Read More
The Nikkei Average advanced 219.35 to 24,325.23 to a 24 month high. Globex Copper Miners (COPX) moved above $22.90 extending an intermediate uptrend.Lundin Mining (LUN.TO), a base metals producer moved above $8.55 extending an intermediate uptrend. Upcoming EventToday (November 6th) Jon Vialoux will present at the Money Show's Virtual Expo on the topic of "Using Seasonality to Invest During a Pand...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Tin premiums in Europe increased in the week to Tuesday November 3, with the metal's sharp price decline in late-October prompting fresh buying momentum after a sustained contango in the metal's forward spread. This came despite a static tin market in the United States, where uncertainty over the Covid-19 pandemic remains a key barrier to trade, while premiums in China were steady despite a marked...Read More
Three-month base metals prices on the London Metal Exchange were collectively higher at the close of trading on Wednesday November 4, with upward price movements largely supported by a steady decline in the US dollar index, while broad uncertainty over the US presidential election did little to trim standout volumes over the day.Topping complex gains over the afternoon, LME zinc's outright price c...Read More
The European high carbon ferro-chrome markets were largely stable in week to Tuesday November 3 despite concerns about Covid-19 inspiring caution among consumers, sources said.Fastmarkets' ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe assessment was stable at $0.88-1.03 per lb Cr for a second consecutive week on Tuesday November 3.Likewise, Fastmarkets' assessme...Read More
A proposed tax on chrome ore exports from South Africa was the driving factor in the country's UG2 chrome ore market in the week to Tuesday November 3.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was $139 per tonne on Tuesday. This was up by $3 per tonne (2.2%) from $136 per tonne in the preceding week.The South African government has proposed an export tax on...Read More
Prices for base metals dropped in morning trading on Wednesday November 4, after Donald Trump said he plans to contest the result of the incomplete and already uncertain presidential election in the United States.Aluminium, nickel and copper had all dropped by 1% or more as of 8:20 UK time with votes still being counted in a US presidential race that looks set to go down to the wire and in which a...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
The tightness in China's domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1."We stored some volumes of standa...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Madagascan producer Ambatovy will resume nickel and cobalt operations in February 2021, a source with knowledge of the matter told Fastmarkets.The Ambatovy project was closed in March due to national restrictions imposed to contain the spread of the Covid-19 pandemic in Madagascar. Sumitomo owns 47.7% of Ambatovy, Sherritt International Corp owns 12% and the remainder is held by...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Good order books at European hot-rolled coil producers combined with a lack of competitive import offers remained the key factors behind the recovery in domestic prices and the upbeat mood among domestic mills, sources told Fastmarkets on Wednesday November 4.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.11 ($590.47) per tonne on Wednesday,...Read More