EAFE iShares (EFA) moved above $77.17 to an all-time high extending an intermediate uptrend. NextEnergy (NEE), an S&P 100 stock moved above $76.34 completing a double bottom pattern. Alphabet moved to an all-time high extending an intermediate uptrend. GOOG moved above $2,152.68 and GOOGL moved above $2145.14NXP Semiconductor (NXPI), a NASDAQ 100 stock moved above $76.34 to an all-time high ex...Read More
China's leading stainless steel producer, Tsingshan Group, has cut its ferro-chrome tender price for April delivery by 351 yuan ($53.43) per tonne from the previous month.The eastern China-based mill set its high-carbon ferro-chrome tender price at 8,545 yuan per tonne for April delivery on Thursday April 1. The latest tender price marks a decrease of 3.95% from the 8,896 yuan per tonne it offered...Read More
Zinc producer Trevali has begun trucking ore concentrate at its mothballed Caribou mine in the Canadian province of New Brunswick, the company said on Tuesday March 30.The activity follows the producer reopening the Caribou mine in mid-January. It had been on care and maintenance from March 2020.The Caribou mine's last full year of activity was 2019, when it recorded 34,017 tonnes of zinc producti...Read More
China is signaling a new stance on environmental inspections and production curbs with a new policy which will see inspectors trawling the steel sectors in eight provinces.Inspectors will visit Shanxi, Liaoning, Anhui, Jiangxi, Henan, Hunan, Guangxi and Yunan to ensure that China continues to meet environmental protection policies and reduce emissions as well as checking the performance and implem...Read More
China's leading stainless steel producer, Tsingshan Group, has cut its ferro-chrome tender price for April delivery by 351 yuan ($53.43) per tonne from the previous month.The eastern China-based mill set its high-carbon ferro-chrome tender price at 8,545 yuan per tonne for April delivery on Thursday April 1. The latest tender price marks a decrease of 3.95% from the 8,896 yuan per tonne it offered...Read More
Base metal stocks in Shanghai Futures Exchange-registered warehouses diverged during the week to Friday April 2, with lead gaining the most, the exchange's latest stocks report showed.Lead stocks increased to 46,261 tonnes, up by 3,589 tonnes from 42,672 tonnes last week - an increase of 8.4%.Zhejiang Tianchuan warehouses had the largest inflow - stocks...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 transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
It is shaping up to be a year of significant deficit in the copper market as tighter-than-expected supply struggles to keep up with a radically improved demand outlook, the chief executive officer of diversified mining company Eurasian Resources Group (ERG) said.This demand is underpinned by unprecedented levels of so-called green stimulus as economies rebuild infrastructure to take account of dec...Read More
Low-carbon aluminium value-added products continue to trade at a small premium in Europe, though such premiums are not achievable for primary aluminium, participants told Fastmarkets.Fastmarkets assessed aluminium low-carbon differential value-added product, Europe at $10-15 per tonne on Thursday April 1 from $5-15 per tonne premium on March 5. Deals were reported to Fastmarkets for aluminium...Read More
Aluminium's and nickel's prices bounced back slightly at the close of trading on the London Metal Exchange on Thursday April 1 from Wednesday's figures, but aluminium and zinc showed losses over the week of nearly 2%, while other base metals continued to consolidate.Nickel's three-month price showed the biggest increase in the base-metals complex on Thursday, up by 0.9% to $16,214 per tonne, back...Read More
Spot copper concentrate processing charges dipped further in the week to Thursday April 1 with more smelters accepting terms below $30 per tonne / 3 cents per lb. Fastmarkets calculated its benchmark copper concentrates treatment and refining charge (TC/RC) index, cif Asia Pacific at $24 per tonne / 2.4 cents per lb on April 1, setting another record low. Offers to smelters dropped to t...Read More
Fastmarkets has launched four implied prices based on the weekly published copper concentrates treatment charge/refining charge (TC/RC) index, with data available from April 2021.The derived prices are: MB-CU-0508 copper concentrates TC implied smelters purchaseMB-CU-0509 copper concentrates TC implied traders purchaseMB-CU-0510 copper concentrates RC implied smelters purchaseMB-CU-0511 copper con...Read More
Chilean state-owned copper producer Codelco has reached a 36-month labor agreement with the management and the workers union at its Radomiro Tomic copper complex, the company said this week.There was a consensus on no wage increases and a term bonus of 4.16 million Chilean pesos ($5,729), the company said on Wednesday March 31.The deal also includes incentives for different goals, such as overcomi...Read More
The rally in the antimony price reached a celling and began to trend downward with no signs of a rebound for the time being, with producers in China and traders in Europe destocking material at lower levels amid little buying appetite.That said, external factors, such as upcoming environmental inspections in Hunan, China, and delays caused by the blockage of the Suez Canal could halt the decline,...Read More
The price of alloy-grade cobalt has risen above that for its standard-grade counterpart for the first time in six weeks, Fastmarkets heard on Thursday April 1, with cheap standard-grade parcels available from sellers looking to take profit.This situation bucked a recent trend where standard-grade metal had been trading mostly at a premium due to strong demand for briquettes downstream.Broken catho...Read More
The spot price for light iron steel scrap in the United Kingdom went up during the week to Thursday April 1, climbing with domestic dealers competing more keenly for supplies against firmer demand for exports out of Europe to the key overseas buyer, Turkey, sources have told Fastmarkets.The price was up mostly in areas close to UK ports, where domestic steel scrap demand was strongest from major s...Read More
Offer prices to the key import steel scrap market in Bangladesh have gone up over the past week, but demand for scrap material was low ahead of the Islamic holy month of Ramadan, sources told Fastmarkets on Thursday April 1.Import markets across Asia have received higher offers for steel scrap this week, with strong rebar and billet markets giving many steelmakers excellent margins and more room t...Read More
Steel mills around the world are buying ferrous scrap at higher prices, spurred by rebounding downstream steel prices in the rebar and billet markets.Turkey sees price rebound and correction in one weekUS sees sales to Turkey, AsiaVietnamese mills increase bidsChinese buyers also raise bidsTight scrap supplyin TaiwanIndian prices higher on good sentiment.TurkeyA major Turkish steel mill supported...Read More
Base metals prices on the London Metal Exchange were mainly weaker this morning, Thursday April 1, and those on the Shanghai Futures Exchange were more mixed, while markets contend with cross winds.United States treasury 10-year yields remain upbeat, as does the dollar China's Caixin manufacturing purchasing managers' index (PMI) at 50.6 showed slower growth in March, compared with 50.9 in Februar...Read More