A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 19.Please click...Read More
The Madras High Court of India has rejected Vedanta's plea to restart its Tuticorin copper complex, which has been closed since 2018.The long-awaited verdict came on Tuesday August 19 to uphold an earlier decision to keep the 400,000 tonne-per-year copper complex in Tamil Nadu closed with no access to electricity. In 2018, 13 locals were killed in a shooting incident during a protest aga...Read More
Nickel premiums in China were under pressure from lack of demand and lower offers in the week ended Tuesday August 18, while premiums in Europe and the United States were unchanged week on week. Premiums in China fall while nickel pig iron (NPI) and sulfate prices rise. US, European premiums stay muted in traditional August trading lull. China nickel premiums fall on weak activity The nickel...Read More
The alumina market once again had all eyes focused on developments at Hydro's Alunorte refinery in Brazil on Wednesday August 19, and alumina prices are pushing higher again. Hydro announced last night that it had halted operation of the pipeline transporting bauxite from its Paragominas bauxite mine to Alunorte alumina refinery for extended maintenance. It means production has been temporari...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
The Turkish deep-sea scrap import market has remained quiet so far this week, with mills staying away due to weak finished long steel demand, sources said on Wednesday August 19.The country's steel producers halted their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) was $285 per tonne cfr for material from the United States and the Baltic Sea.Since then, no significan...Read More
A sharp rise in the Kanto auction price and improved demand from South Korea helped Japanese export steel scrap prices rise over the last week, market sources told Fastmarkets on Wednesday August 19. Japan's monthly Kanto Tetsugen, which is an auction between a cooperative of scrap dealers in the Tokyo region, was moved back one week from its usual slot in the second Wednesday of the month due to...Read More
Most of the base metals on the London Metal Exchange were consolidating this morning, Wednesday August 19, after the majority of them extended gains on Tuesday; the exceptions were aluminium and tin, while copper was where the main action was this morning.The S&P 500 and Nasdaq established fresh record highs on Tuesday, while Asian-Pacific equities were mixed this morning.Gold prices are consolida...Read More
Key data from the Wednesday August 19 pricing session in Shanghai.Key drivers Spot cobalt metal prices in China continued to edge lower amid lackluster demand despite recent stability in local futures prices; consumers largely on the sidelines with adequate material on hand.Chinese cobalt tetroxide prices softened...Read More
Tight intermediates availability and a rally in the cobalt hydroxide market brought cobalt metal back in favor with cobalt sulfate refineries looking to cut risk in their feedstock inflows in late July. Until then, cobalt hydroxide payables - the percentage of the metal price buyers pay sellers for cobalt intermediates - had been capped at 70% for at least a year and a half, reflecting ample suppl...Read More
Domestic prices for heavy steel plate in Europe were stable over the week to Wednesday August 19, due to the seasonal summer lowdown, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged over the week at ?,?450-470 ($536-560) per tonne on August 19.The assessment was based on deals heard in early August at ?,?450 pe...Read More
The domestic hot-rolled coil price in Northern Europe rose on Wednesday August 19, reflecting mills' insistence on pushing their offers up further, sources told Fastmarkets. Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe was calculated at ?,?427.50 ($509.31) per tonne on Wednesday August 19, up by ?,?3 from ?,?424.50 per tonne on Tuesday. The index was also up b...Read More
Iron ore fines prices gained ground on Wednesday August 19 with healthy demand continuing, sources said, while the decrease in China domestic iron ore production in July could help push prices up.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $129.09 per tonne, up $0.52 per tonne62% Fe low-alumina fines, cfr Qingdao: $128.39 per tonne, up $1.31 per tonne58% Fe fines high-grade premium, cf...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 19 that are worth another look.South African manganese alloys producer Transalloys will reduce its silico-manganese production by about 30% this year due to weakening market prices, it was revealed on August 19.The Madras...Read More
Steady raw material costs and increasing demand from the automotive and construction sectors have kept wire rod prices in the United States firm, market participants said. Fastmarkets' monthly assessment for steel wire rod (low carbon) industrial quality, fob mill US held at $29-29.50 per hundredweight ($580-590 per short ton) on Tuesday August 18. This is down by 8.6% from $31.50-32.50 year over...Read More
The European wire rod market was quiet in the week to Wednesday August 19 amid the traditional summer slowdown, while market participants were expecting prices to rise in September, pushed upward by costlier scrap and increased buying activity, sources told Fastmarkets.Southern EuropeFastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, remain...Read More
The Turkish deep-sea scrap import market has remained quiet so far this week, with mills staying away due to weak finished long steel demand, sources said on Wednesday August 19.The country's steel producers halted their deep-sea bookings on August 7, when the price for HMS 1&2 (80:20) was $285 per tonne cfr for material from the United States and the Baltic Sea.Since then, no significan...Read More
A sharp rise in the Kanto auction price and improved demand from South Korea helped Japanese export steel scrap prices rise over the last week, market sources told Fastmarkets on Wednesday August 19. Japan's monthly Kanto Tetsugen, which is an auction between a cooperative of scrap dealers in the Tokyo region, was moved back one week from its usual slot in the second Wednesday of the month due to...Read More