With less than one month remaining before the presidential election in the United States, Fastmarkets takes a look at how the two main candidates' platforms could affect the mineral markets.On November 3, the US will go to the polls to choose between incumbent President Donald Trump and challenger Joe Biden. Both candidates have proposed a number of new policies which could shake up the mineral ma...Read More
Turkish steel mills continued to stay away from deep-sea scrap purchasing due to the weak domestic steel market, sources told Fastmarkets on Wednesday October 7.The country's steelmakers had booked three deep-sea cargoes at the end of last week, putting the HMS 1&2 (80:20) price at $284 per tonne cfr for European material and at $289 per tonne cfr for Baltic Sea-origin scrap.The previous Balt...Read More
A major fire involving about 20,000 tonnes of steel scrap at Sims UK's main export facilityin the west of England is expected to have a significant impact on shipments to key destinations, including Turkey. Sims UK did not reveal how much scrap was damaged or gave details as to the grade of material affected by the blaze at its Avonmouth dock facilities in southwest England, but a spokesman f...Read More
Prices for exported steel scrap cargoes from Japan were largely unchanged over the past week amid holidays in South Korea and Taiwan, together with the upcoming Kanto Tetsugen auction. Fastmarkets' price assessment for steel scrap H2, export, fob main port Japan was ?27,000-28,000 ($256-265) per tonne on Wednesday October 7, unchanged week on week. Offers were largely flat at ?28,000-28,500...Read More
Both seaborne and futures iron ore prices were flat on Wednesday October 7 with no visible activity on trading platforms during the Chinese Golden Week holiday and limited swaps trading volumes. Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.47 per tonne, unchanged62% Fe low-alumina fines, cfr Qingdao: $123.49 per tonne, unchanged58% Fe fines high-grade premium, cfr Qingdao: $111.76 p...Read More
Seaborne coking coal prices were largely unchanged on Wednesday October 7 amid limited trading activity, market sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $137.60 per tonne, up $0.14 per tonne Premium hard coking coal, cfr Jingtang: $145.10 per tonne, unchangedHard coking coal, fob DBCT: $113.52 per tonne, unchanged ...Read More
London Metal Exchange three-month base metals prices, except tin, ticked up during the morning on Wednesday October 10 despite news that United States President Donald Trump will not hold long-awaited fiscal stimulus talks with US Democrats until after the Presidential election on November 3.Discussions regarding the proposed US $2.2 trillion relief bill are ongoing, revised down from the original...Read More
Base metals prices on the London Metal Exchange were weaker across the board this morning, Wednesday October 7, while equity markets were mixed. US Federal Reserve chair Jerome Powel warned too little stimulus is worse than too much.International Monetary Fund chief Kristalina Georgieva warns economic "calamity is far from over".US President Donald Trump postpones stimulus talks with Democrats unt...Read More
Aluminium premiums across the globe were mostly unchanged amid low liquidity in the week to Tuesday October 6, with all eyes on the narrowing London Metal Exchange spreads.Low liquidity for Rotterdam premiumsUS participants look to November for clarity on Canadian unitsEnd of the import quota in BrazilNorth Asia spot premiums unchanged on stable demandRotterdam flat; Spain, Italy catch upPremiums...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
The chromium metal market is facing oversupply after orders from the aerospace sector stalled, resulting in increased competition for business among suppliers, sources told Fastmarkets. Chromium metal in its higher purity is used to create a variety of superalloy components including turbine blades for the aerospace industry, due to its high resistance to corrosion. "Demand [from aerospace] is dow...Read More
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...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 standard grade,...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 7. Key drivers A persistent and seemingly increasing tightness in titanium scrap is propelling scrap and ferro-titanium prices for the fourth and fifth weeks in a row respectively. Ferro-titanium producers say they are worried about securing enough scrap in coming weeks, with volumes falling from traditional sect...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Thursday October 8, while equity markets were mainly upbeat because US fiscal packages may still be forthcoming.* US President Donald Trump changed his tune on Wednesday, from postponing stimulus talks with the Democrats to encouraging them to pass a string of single rescue packages to targeted areas.* Likewise, with Democrat...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 6 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe increased day on day on October 6, despite buyers holding back from making new deals, sources told Fastmarkets.Anheuser-Busch InBev (AB InBev), the world's largest brewer, has...Read More
London Metal Exchange three-month base metals prices continued to consolidate at the close on Tuesday October 6, with China's absence during the regional Golden Week holiday being felt, with the complex somewhat directionless as a result.LME futures prices, with the exception of aluminium and nickel, retraced previous gains in the afternoon trading session in anticipation of China's return to the...Read More
The partnership between Anheuser-Busch InBev (AB InBev) and Rio Tinto to create beer cans made from low-carbon aluminium is the inaugural step in a broad-based, long-term journey, executives at the two companies said.The venture will focus initially on the North American market and is a first for the canned beverage industry, according to Hudson Moore, global director, metal, at the global procure...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 6 that are worth another look.Domestic prices for hot-rolled coil in Northern Europe increased day on day on October 6, despite buyers holding back from making new deals, sources told Fastmarkets.Anheuser-Busch InBev (AB InBev), the world's largest brewer, has...Read More
An overview of the chrome ore and alloy markets and their latest price moves.Europe The market for high-carbon material was stable, with a broad range of prices still being reported, although transaction volumes were relatively low. Many market participants had begun negotiations for long contracts for 2021, with participants reporting...Read More