Japan's aluminium seaborne spot market has rebounded strongly after a quiet 2020 that was characterized by thin spot trading volumes and buyers asking to defer deliveries - and the benchmark premium could keep rising.Activity has picked up dramatically in the second quarter of 2021, with constrained domestic supply propelling spot trades as high as $170 per tonne.Last week, a spot deal was heard a...Read More
Base metals prices on London Metal Exchange were up across the board this morning, Wednesday April 21, but those on the Shanghai Futures Exchange were mainly weaker, as were broader markets, while haven assets were bid for.* The spread of the Covid-19 pandemic is becoming polarized on a regional basis...* ...this could threaten the global recovery and travel* Tension rises on Russia-Ukraine border...Read More
Disney (DIS), a Dow Jones Industrial Average stock moved below $181.01 completing a Head & Shoulders pattern.Exxon Mobil (XOM) moved below $54.45 completing a double top pattern.Citigroup (C), an S&P 100 stock moved below $74.73 completing a double top pattern.JP Morgan (JPM), a Dow Jones Industrial Average stock moved below $148.09 completing a double top pattern. Boeing (BA), a Dow Jones...Read More
Here are five Fastmarkets stories you might have missed on Monday April 19 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) was able to continue to operate normally at its coal and container terminals at the port of Itagua?- over the weekend despite...Read More
Three-month prices for base metals on the London Metal Exchange showed mixed fortunes at the close of trading on Monday April 16, despite the US Dollar Index being at a six-weeks low, with only copper showing a gain a of more than 1%, and nickel falling from its Friday price.Copper's three-month price was up by 1.8% at 5pm on Monday to $9,376 per tonne, compared with Friday's closing price of $9,2...Read More
Several major Chinese metal producers bought zinc and gold concentrates produced in North Korea in 2019, despite economic sanctions, a court ruling has revealed.Thirteen men were convicted of smuggling metal raw materials across the closed China-North Korea border, according to a ruling by the Jiangsu Yangcheng Intermediate Court on Wednesday March 31, resulting from the lawsuit (2021) Jiangsu 09...Read More
Here are five Fastmarkets stories you might have missed on Monday April 19 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) was able to continue to operate normally at its coal and container terminals at the port of Itagua?- over the weekend despite...Read More
Chinese alumina refinery Kaiman (Sanmenxia) Aluminium has cut its production by half because of a shortage of bauxite supplies, market sources told Fastmarkets on Monday April 19.Hangzhou Jinjiang Group owns the refinery in Sanmenxia city in Henan province, which has capacity for 2.1 million tonnes per year. It will reduce output for at least one month starting from Monday, but could extend the cu...Read More
Seaborne manganese ore prices dropped further on Friday April 16, sparking buying interest due to the erosion of the premium over portside prices.Major suppliers of seaborne material reduced their offers to match the prices for cargoes already in Chinese ports.Fastmarkets' manganese ore index 37% Mn, cif Tianjin, dropped by 22 cents to $4.27 per dry metric tonne unit (dmtu) on April 16.The corresp...Read More
It seems that copper's biggest market has soured on the metal. Premiums paid over exchange prices for copper cathodes imported into China have fallen in recent weeks, dropping to a five-month low in a decline that shows no signs of slowing down.Fastmarkets' benchmark copper grade-A cathode ER premium, cif Shanghai was at $40-48 per tonne on Wednesday April 14, a five-month low.Falling premiums for...Read More
Here are five Fastmarkets stories you might have missed on Monday April 19 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) was able to continue to operate normally at its coal and container terminals at the port of Itagua?- over the weekend despite...Read More
Key data from Fastmarkets' pricing session in Europe on Friday April 16.Key drivers Market participants report lower offers all under $1,000 per kg for prompt delivery material on spot basis. Most germanium-dioxide material is tied up in long-term contracts on a formula basis, however, material rarely exchanges hands in...Read More
Turkish steel producers returned to the deep-sea scrap import market at the start of the week, booking cargoes from a range of locations at lower prices, market participants told Fastmarkets on Monday April 19.At the end of the last week, a steel mill in the Izmir region booked a European cargo at $417 per tonne cfr for HMS 1&2 (80:20).And a steel mill in the Iskenderun region booked a Venezuelan...Read More
Turkish domestic auto bundle scrap prices have inched downward over the past week thanks to the recent recovery in the value of the country's currency, while ship scrap prices remained fairly stable, market participants told Fastmarkets on Monday April 19.Domestic prices for long steel products and, therefore, auto bundle scrap in Turkey typically decrease in line with a stronger Turkish lira beca...Read More
Here are five Fastmarkets stories you might have missed on Monday April 19 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) was able to continue to operate normally at its coal and container terminals at the port of Itagua?- over the weekend despite...Read More
Several major Chinese metal producers bought zinc and gold concentrates produced in North Korea in 2019, despite economic sanctions, a court ruling has revealed.Thirteen men were convicted of smuggling metal raw materials across the closed China-North Korea border, according to a ruling by the Jiangsu Yangcheng Intermediate Court on Wednesday March 31, resulting from the lawsuit (2021) Jiangsu 09...Read More
Base metals prices were mixed on both the London Metal Exchange and the Shanghai Futures Exchange this morning, Monday April 19, while broader markets were generally upbeat, save in India where a surge in Covid-19 infections is weighing on equities. Strength in gold, the yen and weaker bond yields could suggest a pick-up in haven demand......but there are few signs of nervousness in equity markets...Read More
British speciality chemicals firm Johnson Matthey (JM) has secured long-term supply agreements for both cobalt and lithium with major producers, while scaling up its battery materials business in Europe, it said on Monday April 19.JM also announced a strategic partnership with Finnish Minerals Group for the construction of a second cathode manufacturing plant in Finland.The nameplate capacity of t...Read More
Nickel briquette has steadily become a more favored choice of feedstock for Chinese battery-grade nickel sulfate producers in recent months, resulting in a notable pick-up in spot trading activity for the former.But recent declines in the Chinese nickel sulfate price have raised questions among market participants about whether this trend will continue. Fastmarkets examines the major factors behin...Read More
Australian lithium-spodumene producer Altura Mining has appointed Alex Cheeseman chief executive officer with immediate effect, the company said on Friday April 16. Cheeseman was previously the general manager of marketing for Altura prior to the administration process that was initiated in October 2020.Read More