China's hot-rolled coil export prices moved down on Wednesday September 23, with producers accepting lower export prices amid domestic falls.DomesticEastern China (Shanghai): 3,830-3,850 yuan ($565-568) yuan per tonne, down 10 yuan per tonneA Shanghai-based trader told Fastmarkets that trading activity there weakened on Wednesday, pulling prices lower.The dip in activity was because of the slide i...Read More
The London Metal Exchange's new package of sustainability proposals should aid the discovery process of low-carbon aluminium pricing, chief executive officer Matthew Chamberlain said.Speaking at the Fastmarkets International Aluminium Conference on Wednesday September 23, Chamberlain said the exchange wants to provide the market with the tools to source sustainable material and provide transparenc...Read More
London Metal Exchange three-month base metals prices were trading down over the morning on Wednesday September 23 after a consistently stronger US dollar hit a six-week high, effectively capping the retracement in some metals yesterday after Monday's US equities nosedive. The US dollar index continued its uptrend, hitting a high of 94.25 during the morning before settling to trade most recently ar...Read More
The global market for graphite and the European silicon market have reacted with caution to news that US electric vehicle maker Tesla plans to pursue the use of silicon rather than graphite in its battery anode material.Tesla plans to use silicon metal, rather than graphite or costlier engineered silicon materials, to make battery anodes, and announced on Tuesday September 22 that it had overcome...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 23.Key drivers European scrap supplies, which have been getting tighter this quarter and pushed Fastmarkets-assessed scrap prices up on Wednesday September 16 for the first time in 10 weeks, have moved scrap prices higher again and pulled the ferro-titanium market up with them. Trade sources said scrap prices are likely to...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...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 process it applies. Fastmarkets...Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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...Read More
Tesla will mine its own lithium, make its own lithium-ion batteries for electric vehicles (EVs) and use more silicon and nickel in these cheaper batteries, the world's biggest EV maker said on Tuesday September 22.Tesla will simplify the process of obtaining battery-ready nickel and lithium, develop alternatives to existing aluminium alloys and recycle its own EV batteries, it added.Tesla's own 46...Read More
Desheng Group, one of China's major producers of vanadium pentoxide (V2O5), plans to suspend production and conduct equipment maintenance across its operations, including at its ironmaking and steelmaking facilities, market sources told Fastmarkets.The overhaul, which will be mainly carried out at Desheng Group's vanadium and titanium company in Leshan, in the southwestern Chinese province of Sich...Read More
Chinese stainless steel producers have increased their consumption of stainless steel scrap in the last two months in an attempt to reduce their input costs, particularly those for ferro-alloys, with nickel prices soaring since mid-July, sources told Fastmarkets.Chinese stainless steel producers typically use a combination of nickel pig iron (NPI), stainless scrap and ferro-alloys for production.T...Read More
China will aim to be carbon neutral by 2060, President Xi Jin Ping said at the General Debate of the 75th Session of the General Assembly of the United Nations on Wednesday September 23."We aim to have carbon dioxide (CO2) emissions peak before 2030 and achieve carbon neutrality before 2060," he said.China also aims to scale up its Intended Nationally Determined Contributions - intended reductions...Read More
Base metals prices on the London Metal Exchange were down across the board this morning, Thursday September 24, while risk-off gathered pace on concerns that the Covid-19 pandemic is spreading aggressively again.US central bankers also warned on Wednesday that the US economy remained in a “deep hole” of joblessness and weak demand.* Base metals prices on the LME are all dropping from hig...Read More
S&P Bank SPDRs (KBE) moved below $27.93 setting an intermediate downtrend.S&P Regional Banks SPDRs (KRE) moved below $33.67 setting an intermediate downtrend.China Large Cap iShares (FXI) moved below $41.09 completing a double top pattern.Cameco (CCJ), a TSX 60 stock moved below US$10.05 and Cdn$13.49 setting an intermediate downtrend.Canadian Natural Resources (CNQ), a TSX 60 stock moved...Read More
Here are five Fastmarkets stories you might have missed on Tuesday September 22 that are worth another look.Swiss stainless steelmaker Schmolz + Bickenbach has had its proposal to change the company name approved by shareholders, it said in a press release on Monday September 21.Read More
The London Metal Exchange's three-month prices for copper and nickel were once more trading in positive territory during the afternoon session on Tuesday September 22, retracing losses made on the previous day's slump in US equities values.Copper and nickel futures are both particularly sensitive to the macro-economic environment at present, with both metals' LME three-month prices falling on the...Read More
Major aluminium producers operating in some of the countries most affected by Covid-19 took decisive actions early on to protect workers and maintain operations, top executives said during a panel at Fastmarkets International Aluminium Conference on Tuesday September 22.Top executives from Alcoa Corp, Aluminium Bahrain (Alba), Hindalco, Norsk Hydro and China Hongqiao participated in the panel, sha...Read More
An overview of the chrome ore and alloy markets and their latest price moves.China Buyers were willing to accept higher prices in dollar terms for UG2 chrome ore, due to the strengthening yuan. Sentiment remained positive for spot domestic ferro-chrome ahead of...Read More
Factors including an improving oil price and increased demand will support a recovery in the cif China bauxite price in the second half of this year but market participants should keep a close eye on the effect of a weakening domestic alumina price, Fastmarkets aluminium analyst Yang Cao said on Monday September 21. "In the first half of 2020, the price of Chinese imported bauxite was quite low as...Read More
The latest data for the global manganese ore market for the week ended September 21, 2020.Read More