Sandfire Resources' Motheo copper mine in Botswana will come online in 2023, the mid-tier copper and gold miner said this week, after acquiring a mining license for the project. The construction of the Motheo copper mine will accelerate in the coming months and should deliver 30,000 tonnes of copper and 1.2 million ounces of silver for the first 12-and-a-half years of mine life, the Canada-listed...Read More
Bullish sentiment in the aluminium supply chain fueled increases in premium foundry alloy (PFA) premiums in Europe in the week ended Friday July 9. The PFA premium in the US was flat once again.EuropeSoaring premiums for P1020 aluminium, expensive logistics and solid demand pushed the premiums for primary foundry alloy (PFA) in Europe to new all-time highs this week.Fastmarkets' assessment of the...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang and...Read More
Expectations of cuts to steel production across China in the second half of 2021 have fueled the country's eager return to the steel billet import market this week, sources told Fastmarkets on Friday July 9.Numerous Chinese steelmakers were now expected to reduce output in the second half of the year, with China's authorities targeting 2021 steel production below last year's total of 1.07 billion...Read More
China's domestic rebar market ended the week with increased prices in both eastern and northern regions, though prices were stable on Friday July 9.DomesticEastern China (Shanghai): 5,020-5,050 yuan ($775-780) per tonne, unchangedNorthern China (Beijing) weekly assessment: 4,950-4,990 yuan per tonne, up by 170 yuan per tonneEastern rebar prices halted their rise on Friday due to weak demand but pr...Read More
An overview of the aerospace materials markets and the latest price moves.Carrie Shi, Ruby Liu...Read More
A correction has been issued for this article. The update can be found here.Read More
Iron ore prices across the board declined further on Friday July 9, with market chatter about crude steel production cuts in China depressing sentiment amid thin trading.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $214.77 per tonne, down by $3.27 per tonne62% Fe low-alumina fines, cfr Qingdao: $218.00 per tonne, down by $4.00 per tonne58% Fe fines high-grade premium, cfr Qingdao: $180.0...Read More
Domestic hot-rolled coil prices in China were unchanged on Friday July 9, with an ongoing seasonal lull in demand keeping spot prices from tracking rising futures amid talk of production cuts across the country.DomesticEastern China (Shanghai): 5,700-5,770 yuan ($878-889) per tonne, unchanged Northern China (Tangshan): weekly assessment: 5,500-5,620 yuan ($848-866) per tonne, up by 180-240 yuan pe...Read More
The price gap between higher and lower grades of steel scrap continued to widen in the Japan export market over the past week, sources told Fastmarkets on Thursday July 8.Rising demand for heavy scrap (HS) and Shindachi busheling, both from blast-furnace (BF) mills in Japan and buyers in South Korea, has continued to propel prices for these materials upward.On the other hand, limited demand for lo...Read More
European hot-rolled coil prices edged up on Thursday July 8, despite slow trading activity, supported by still-limited supplies, sources told Fastmarkets.Sufficient stocks at distributors, as well as full credit lines, were the main reasons behind the lack of trading activity, sources said. Buying interest remained subdued, with customer largely holding back and making only hand-to-mouth bookings...Read More
Domestic prices for heavy steel plate have been stable in Europe in the week to Wednesday July 7, with buyers holding back from making deals for substantial volumes, sources told Fastmarkets.Fastmarkets' price assessment for steel domestic plate, 8-40mm, exw Southern Europe was unchanged over the week at ?,?980-1,020 ($1,158-1,205) per tonne on July 7.The assessment was based on achievable prices...Read More
Here are five Fastmarkets stories you might have missed on Thursday July 8 that are worth another look.Iran's steel output will be negatively affected by severe power shortages that started in June and still remain an issue, market participants said.Kamoa Copper's 3.8-million-tonne-per-year concentrator in the...Read More
Base metals prices on the London Metal Exchange showed mixed directions at the 5pm close of trading on Thursday July 8, with copper and aluminium down on a slowing Chinese economy and talks of tapering from the United States."The takeaway from last night's FOMC [meeting] appears to be that this month... should see the ramping-up of more formal talks on tapering, with the line that the conditions f...Read More
Base metals prices on both the LME and SHFE were mixed this morning, Thursday July 8, after the United States Federal Reserve's latest minutes showed a slight pick-up in hawkishness.China is looking to cut the bank reserve requirement ratio (RRR), suggesting the authorities think the economy needs supportBase metalsLondon Metal Exchange three-month base metals prices were mixed on Thursday July 8,...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 7.Please click...Read More
Ferro-chrome prices in Asia and Europe have been trending upward since mid-May amid strong demand, with tightened supply from India fueling the bullish sentiment further in those markets, according to industry sources.India - ranked as the world's fourth-largest producer of ferro-chrome - produced around 1.28 million tonnes of the ferro-alloy in 2019, but last year it produced just 970,000 tonnes...Read More
South African miner Chrometco is filing for a restructuring of its business, and is putting its mining and chrome wash operations on care and maintenance due to the current financial pressures, it has announced.Chrometco, owned by South African commodity trading house Sail, will apply for restructuring and refinancing to meet commitments to its creditors and employees, according to an announcement...Read More
Export prices for ammonium paratungstate (APT) from China have continued to rise, with China's domestic supply tightening and overseas markets in urgent need of the material due to low inventories, sources told Fastmarkets this week.Fastmarkets' weekly price assessment for tungsten APT 88.5%WO3 min, fob main ports China was $282-292 per metric tonne unit (mtu) onWednesday July 7, up by $7-10 per m...Read More
Turkish steel mills continued to book deep-sea scrap for August shipment at slightly higher prices, market sources said on Thursday July 8.A steel mill in the Iskenderun region booked a US cargo, comprising HMS 1&2 (90:10) at $498 per tonne, shredded and plate & structural (P&S) at $516. The composition of the cargo was not shared by the parties involved. This compares with deep-sea bookings heard...Read More