Base metals prices and Asian-Pacific equities were mixed this morning, Wednesday September 30, although pre-market western equity index futures were weaker following a confrontational and not very presidential first debate between US President Donald Trump and former Vice President Joe Biden, the democratic candidate.China’s official and Caixin manufacturing purchasing managers’ indices...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade.Index futures were virtually unchanged following release of economic news. Consensus for the September ADP Employment Report released at 8:15 AM EDT was an increase to 650,000 from an upwardly revised 481,000 in August. Actual was 749,000. Consensus for final estimate of second quarter a...Read More
(Updates prices and dollar impact, adds comment) By Pratima Desai LONDON, Sept 29 (Reuters) - Copper prices softened onTuesday as inventories in London Metal Exchange-registeredwarehouses jumped, but losses were capped by a weaker dollar asthe market awaited manufacturing data from top consumer China. Benchmark copper on the LME was down 0.1% at $6,568a tonne by 1558 GMT. Prices of the metal used...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
The three-month price of zinc on the London Metal Exchange was the standout performer at the close of trading on Monday September 28, rallying during afternoon trading to push firmly above the $2,400-per-tonne threshold.Tin, meanwhile, continued to recover after slipping below nearby support during the morning trading session.Zinc's outright price on the LME closed at $2,432 per tonne on Monday af...Read More
Here are the key takeaways from Fastmarkets' International Aluminium Conference that took place on Monday September 21-Wednesday September 23. Low-carbon aluminium Low-carbon aluminium is a huge talking point in the market right now and the conference dedicated a day to sustainability. Sustainability directors from Rio Tinto, Norsk Hydro, UC Rusal and Alcoa participated in a panel discussion discu...Read More
Here are the key takeaways from Fastmarkets' International Aluminium Conference that took place on Monday September 21-Wednesday September 23. Low-carbon aluminium Low-carbon aluminium is a huge talking point in the market right now and the conference dedicated a day to sustainability. Sustainability directors from Rio Tinto, Norsk Hydro, UC Rusal and Alcoa participated in a panel discussion discu...Read More
Seaborne prices for both low and high-grade manganese ore in China were rangebound in the week to Friday September 25, although moving in slightly divergent trends amid a persistently poor market sentiment following continued weakness in both the portside ore and alloy futures markets, sources said.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin was $4.27 per dry metric tonne unit (dmtu) on...Read More
Canada-based base metals producer Lundin Mining has halted ore processing operations at its Chapada copper-gold mine in Midwestern Brazil after a power outage damaged mill motors, the company said on Sunday September 27. Interruption of power services to the mine occurred on Sunday. When power was restored, the protection system of Chapada's main electrical substation failed, according to the comp...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
The slowdown of the roll-out of fifth generation technology (5G) is continuing to weigh on the tantalum market with the concentrate price falling to a year-to-date low on Friday September 25. Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China at $56-57.75 per lb on Friday, down from $57-59 per lb a week earlier and down from its year-to-date high of $65-68 per lb in May. T...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
The spread between copper scrap and refined copper is at its widest since December 2019 due to ample availability after shipping lines stopped handling scrap cargoes bound for China this month. Fastmarkets assessed the copper scrap No2 copper (birch/cliff) imported into China 94-96%, LME/Comex discount, cif China at 34-40 cents per lb on Monday September 28, compared with 32-36 cents per lb a...Read More
Turkish steel mills skipped the first working day of the week, with no deep-sea bookings completed amid signs of a downward correction in the market, sources said on Monday September 28.There were talks of a cargo from the United States being sold to a steel mill in the Iskenderun region at $293 per tonne cfr for HMS 1&2 (80:20), $298 per tonne for shredded and $303 per tonne for bonus.Althou...Read More
Canada-based base metals producer Lundin Mining has halted ore processing operations at its Chapada copper-gold mine in Midwestern Brazil after a power outage damaged mill motors, the company said on Sunday September 27. Interruption of power services to the mine occurred on Sunday. When power was restored, the protection system of Chapada's main electrical substation failed, according to the comp...Read More
Key data from the Friday September 25 pricing session in London.Key driversCobalt hydroxide market steady; distributors anticipating some restocking ahead of or shortly after China's upcoming Golden Week holiday (October 1-8), and are therefore declining to...Read More
The price of nickel sulfate in China edged down slightly in the week to Friday September 25, while the rally in nickel ore continued.Fastmarkets assessed the price of nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 27,000-27,800 yuan ($3,956- 4,073) per tonne on Friday, narrowing downward by 200 yuan per tonne from 27,000-28,000 yuan per tonne a week earlier.The Chinese nickel su...Read More
China's imports of cobalt metal hit a historical high in August after importers in the country looked to take advantage of noticeable arbitrage opportunities.A total of 1,130 tonnes of cobalt was delivered to China in August, an increase of 245% from the prior month and 421% higher than the same month of last year, according to Chinese customs data. August's volume is the highest ever in a month.T...Read More
Here are five Fastmarkets stories you might have missed on Monday September 28 that are worth another look....Read More
Domestic prices for steel hot-rolled coil across Europe continued to rise, but at a slower pace, over the week to Friday September 25, driven by reduced supply from domestic mills and a lack of competitive import offers.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?488.02 ($567.46) per tonne on Friday, up by ?,?1.10 per tonne week on week and by...Read More