Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne. Concerns that an additional stimulus package in the United States may struggle to get agreed before the presidential election has weighed on sentiment. Forecasts from the International L...Read More
China's domestic stainless steel prices narrowed upward in the past week on nickel gains. The three-month nickel contract on the London Metal Exchange ended Wednesday October 21's official trading session at $16,101 per tonne, up by $949 per tonne (6.3%) from $15,152 per tonne a week earlier.Higher nickel pig iron prices also gave additional support to the stainless steel market. Fastmarkets' week...Read More
Strong stimulus programs and an introduction of fines on CO2 emissions have helped Europe to lead the way this year on electric vehicle (EV) sales, according to Ernie Ortiz, president and managing director at Lithium Royalty Corporation."Sales are strong enough that Europe can even take the crown for the largest EV market this year," Ortiz said during the Focus Day on electric vehicles at the Lond...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt...Read More
The cobalt alloy 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 transparencyinto the markets it covers and the pricing process it applies....Read More
The price of cobalt metal in China's domestic market widened downward in the first half of this week, pressured by lackluster spot demand while consumers opted for cheap imported briquette and off-grade cathode.Fastmarkets' price assessment for cobalt 99.87% Co min, ex-works China was 265,000-275,000 yuan ($39,807-41,310) per tonne on Wednesday October 21, widening downward by 5,000 yuan from 270,...Read More
The European spot ferro-silicon market, which had been recovering in August and September after falling around a quarter in price since February, looks set to extend its recent steady trend in the near term supported by relatively low availability, trade sources told Fastmarkets. Demand from steelmakers has recovered since the seasonal summer slowdown, with consumers showing buying interest initia...Read More
Fastmarkets has today amended its price assessments for ferro-vanadium and vanadium pentoxide, both in the fob China market.After a consultation period that began on September 22, Fastmarkets has amended the fallback measures to its two Chinese vanadium fob price assessments amid a significant drop in spot liquidity in China's vanadium export market. In the absence of spot trades either...Read More
Fastmarkets today launches two weekly Chinese domestic price assessments for vanadium nitrogen and vanadium pentoxide (V2O5), expanding its current price coverage of the vanadium market.Following a month-long consultation, Fastmarkets has launched two new price assessments, namely vanadium nitrogen, basis 77%V, 16% N, ex-works China and vanadium pentoxide 98% V2O5 min, ex-works China, to complemen...Read More
Intel (INTC), a Dow Jones Industrial Average stock moved below intermediate support at $46.65 following release of a disappointing third quarter report. Pre-opening Comments for Friday October 23rdU.S. equity index futures were higher this morning. S&P 500 futures were up 11 points in pre-opening trade.Intel dropped $5.33 to $48.57 after reporting lower than consensus revenues by its Data...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday October 21.Please click...Read More
The three-month price of copper on the London Metal Exchange was the standout performer at the close of trading on Wednesday October 21, reaching its highest in more than two years and aided by a downturn in the US dollar index, while LME nickel's price rally cooled against selling pressure over the afternoon.Copper's outright price on the LME closed at $6,991.50 per tonne on Wednesday afternoon,...Read More
London copper futures broke above $7,000 per tonne for the first time since early 2018 on Wednesday October 21, with the wire-making metal's green credentials being touted as bullish for future demand at the virtual LME Week forum.The London Metal Exchange's three-month copper contract traded at a high of $7,027 per tonne in afternoon trading on Wednesday October 21, its highest level since J...Read More
The arrival of lower-priced cargoes and weakening downstream demand weighed on the market for UG2 chrome ore in China in the week ended Tuesday October 20, although liquidity was light.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, fell by $4 per tonne (-2.9%) to $135 per tonne on Tuesday, from $139 per tonne a week earlier."More people are looking to sell than...Read More
A summary of Antofagasta's production results for the third quarter of 2020.Chilean copper miner Antofagasta's copper production has fallen by 7.3% overall this year, but the miner said it will be targeting record output in 2021, even if pandemic restrictions remain in play.In brief: Antofagasta group copper production dropped in the third quarter t o 169,000 tonnes, down 4.6% compared with the se...Read More
Here are five Fastmarkets stories you might have missed on Wednesday October 21 that are worth another look....Read More
Turkish steel mills continued their silence in the deep-sea scrap market for a third day this week, with participants now split on the direction prices will take, sources said on Wednesday October 21.After a third day without any new bookings, sources began to speculate on the direction prices might go.Some told Fastmarkets they were expecting prices to move up, despite the mil...Read More
Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21. Some strike action in copper in Chile has added fuel to copper's rally High expectations for a further stimulus ahead of the US presidential election has boosted...Read More
Lithium is a key priority for Chile and will be exploited in an increasingly sustainable way to meet growing demand from the electric vehicle (EV) sector, according to the country's mining minister, Baldo Prokurica."Global demand for lithium is expected to reach almost 1.8 million tonnes [per year] of lithium carbonate equivalent [LCE] by 2030," Prokurica said during the annual mining conference o...Read More