Base metals prices on the London Metal Exchange were mainly weaker on the morning of Tuesday October 5, while markets consolidated recent gains. But volumes have been light with Chinese participants absent due to the week-long National Day holiday (October 1-7).* Asia-Pacific equities weaker this morning as they followed Monday’s weakness in the United States.* Brent crude oil price back abov...Read More
Chilean copper production fell by 4.59% in August compared with the corresponding month in 2020 amid decreases in Codelco's and BHP's operations, the country's copper commission (Cochilco) said on Monday October 4.Copper output totaled 461,900 tonnes in Chile during August, down from 484,100 tonnes a year earlier. In the first eight months of 2021, production was 3.73 million tonnes, a 1.47% year-...Read More
Honda's August production and sales of new vehicles in Japan slumped on a monthly basis, by 62.4% and 22.7% respectively.Production of new vehicles fell to 23,790 vehicles in August, while sales fell to 40,656 vehicles.The production statistics are in line with the carmaker's expectations - Honda had earlier reported Japan-based factories to be running at 40% capacity in August-September amid a sh...Read More
Domestic prices for hot-rolled coil declined across the EU in the week to Friday October 1 due to lower demand from both the spot market and the automotive industry.Buyers have been holding back from purchasing, in anticipation that domestic mills will soon accept lower prices. In addition,European distributors' stocks were sufficient, so they felt no pressure to obtain additional volumes in the s...Read More
Australia expects the iron ore price to stay at around $150 per tonne until late 2021, before falling to $93 per tonne by the end of 2022, according to a report released on Thursday September 30.The figure for 2022 has been revised downwards from $109 per tonne, as stated in a previous report published in June.Falling domestic demand for steel in China due to slower construction activity and the i...Read More
European non-ferrous metals industry association Eurometaux has warned the European Commission that surging power prices may cause metal producers to leave Europe and erode plans to cut carbon emissions."Rising electricity prices have already led to curtailments and could lead to further relocation of our sector outside Europe if not addressed," Eurometaux said in a letter co-signed by director ge...Read More
Base metals prices on the London Metal Exchange were mostly up during morning trading on Monday October 4, continuing their recovery from a steep sell-off seen in the last days of September.The three-month contract for zinc was the best performer on Monday morning, rising to $3,014 per tonne at 9am from $2,982.50 per tonne at the close on Friday.The galvanizing metal has traded around and above $3...Read More
On September 24, 2019, Fastmarkets opened a consultation on the proposed discontinuation of the copper rod annual premium, cif Nhava Sheva.The price was discontinued on October, 25 2019, after the one-month consultation period ended on October 24.A notice to confirm the discontinuation was not issued, in error, but Fastmarkets wishes to clarify that it has not published the annual premium sin...Read More
Brazilian mining company Vale has halted operations at its On??a Puma ferro-nickel unit, in the country's northern Par?? state, following the suspension of a license, it said on Monday October 4.Par??'s environmental and sustainability secretariat, Semas, suspended On??a Puma's operating license, saying Vale did not meet some of its conditions, the company said.Vale was in contact with Semas to un...Read More
Iron ore prices were largely stable on Monday October 4, with limited liquidity during the Chinese National Day holiday, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $117.12 per tonne, up $1.33 per tonne62% Fe low-alumina fines, cfr Qingdao: $119.75 per tonne, up $1.21 per tonne58% Fe fines high-grade premium, cfr Qingdao: $90.73 per tonne, up $2.67 per tonne65% Fe Brazil-o...Read More
Chilean copper production fell by 4.59% in August compared with the corresponding month in 2020 amid decreases in Codelco's and BHP's operations, the country's copper commission (Cochilco) said on Monday October 4.Copper output totaled 461,900 tonnes in Chile during August, down from 484,100 tonnes a year earlier. In the first eight months of 2021, production was 3.73 million tonnes, a 1.47% year-...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 13 points in pre-opening trade. Tesla added $20.03 to $795.25 after reporting higher than consensus quarterly production and revenues.Incyte slipped $0.33 to $67.98 after Truist lowered its target price from $120 to %95.Deere eased $1.20 to $341.00 after JP Morgan lowered its target price from $346.00 to $297.00MMM dr...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Under the new structure, Tata Steel Europe will no longer exist as an operational organization; Tata Steel Netherlands and Tata Steel UK will operate as two independent companies.Tata Steel started national-level consultations t...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
Here are five Fastmarkets stories you might have missed on Friday October 1 that are worth another look.Tata Steel officially separated its operations in the United Kingdom and the Netherlands on Friday October 1 after an agreement was reached a day earlier, the company said.Since mid-September, a swathe of...Read More
The suspension of activity in the vicinity of the Xingu dam in Vale's Mariana iron ore complex has been partially revoked, allowing the associated railway to resume activities, the Brazilian company said on Thursday September 30.The Regional Labor Superintendence (SRT) had issued an order to partly reverse the suspension of operations to allow the resumption of transportation along the Vit??ria-Mi...Read More