The London Metal Exchange three-month aluminium, nickel and zinc prices all rose by over 1% in morning trading on Thursday December 24, with the market weighing likely deals on US coronavirus relief funds and Brexit against the renewed pandemic spread across Europe. "Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, sugg...Read More
The cfr price for seaborne premium hard coking coal edged up further on Thursday December 24, with new transactions sealed at higher prices. China's ban on Australian coal led to the decline in demand for Australian premium low-volatility hard coking coal, and premium mid-volatility hard coking coal has been sold at a higher price than premium low-vol material in the fob market, sources...Read More
China's hot-rolled coil prices regained some stability on Thursday December 24 although the market was inactive.DomesticEastern China (Shanghai): 4,800-4,820 yuan ($734-737) per tonne, up 10-20 yuan per tonneA Shanghai-based trader said that while some sellers had asked for prices as high as 4,840 yuan per tonne in the morning, no transactions were concluded until their offers fell to 4,800-4,820...Read More
China's stainless steel prices lost their upward momentum over the week ended Wednesday December 23 after nickel and stainless steel futures tumbled.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $16,747 per tonne, down by $682 per tonne $17,429 per tonne a week earlier. The most-traded February stainless steel contract on the Shanghai Futures...Read More
Base metals prices on the Shanghai Futures Exchange were up across the board this morning, Thursday December 24, while those on the London Metal Exchange were mixed.Metals and broader markets seem to be settling down ahead of the Christmas and New Year holidays, with dips still being bought, suggesting markets are content to consolidate while many cross currents muddy the waters. Markets seems to...Read More
Slow port operations at Durban in South Africa and limited container space are helping to keep cobalt hydroxide payables underpinned at their highest in at least two years on Thursday December 24. Spot availability of cobalt intermediates is limited due to tight container space and reduced shipping schedules over the upcoming holiday period, in a market where availability outside long-term contrac...Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb 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 standard grade, in-whs Rotterdam, $/lb at 15.30-15.90 on Thursday...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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 alloy...Read More
Spot cobalt metal prices in China rose on Wednesday December 23 following a sharp rally in local futures prices, while availability of spot cargoes has started to tightened after major producers held back from making offers due to a widening price gap between metal and sulfate.Fastmarkets' assessment for cobalt 99.8% Co min, ex-works China was 257,500-268,500 yuan ($39,370-41,052) per tonne on Wed...Read More
Key data from Fastmarkets' pricing session in China on Wednesday December 23. Key drivers After having risen for three consecutive weeks, China's domestic indium price ticked down amid weakening futures market and sparse buying interest.The January indium contract on the Wuxi Stainless Steel Exchange closed at 1,170 yuan ($179) per kg on Wednesday, down by 4.5% from 1,225 yuan per kg...Read More
Import prices for containerized ferrous scrap into Taiwan continued on an uptrend in the week to Thursday December 24 amid limited supply and strong demand. Fastmarkets' daily price assessment for containerized cargoes of steel scrap, HMS 1&2 (80:20), US material import, cfr main port Taiwan was at $440 per tonne on Thursday, unchanged day on day but up by $35-40 per tonne from $400-405 per t...Read More
The new coronavirus strain found in the United Kingdom has raised fears of scrap supply shortages which could feed the runaway prices in Asia, market sources told Fastmarkets in the week to Thursday December 24."The new strain could make scrap collection harder in Europe and wherever it spreads to, reducing the supply to markets such as Vietnam" a Japanese trader said.Scrapyards in key suppliers U...Read More
Key pricing data from the pricing sessions in Europe and Asia for the week ended December 24.China Most producers insisted on higher prices for battery grade lithium carbonate, citing a lack of material, and are targeting over 50,000 yuan ($7,658) per tonne for January 2021. China's industrial-grade lithium carbonate market reported offers of 43,000-46,000 yuan per tonne this week, but trading act...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 23 that are worth another look.World crude steel production increased by 6.6% year on year in November, with China, Germany and Ukraine posting the largest increases.Chilean state copper producer Codelco has increased the...Read More
There were slight rises across the London Metals Exchange base metals complex on Wednesday December 23, led by a 1.5% uptick in nickel, after they dropped collectively earlier in the week following news of the rapid spread of a new strain of the Covid-19 virus in the United Kingdom. The three-month nickel price rose to $16,874 per tonne on Wednesday at the 5pm close from $16,614 per tonne on Tuesd...Read More
Chilean state copper producer Codelco has increased the volumes sold into annual cathode supply contracts for 2021, its chief commercial officer Carlos Alvarado told Fastmarkets this week.Codelco produces around 1.7 million tonnes of copper per year - equivalent to 7% of the world's total. The company's regional offers to customers tend to set a benchmark for similar annual supply deals that...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 23 that are worth another look.World crude steel production increased by 6.6% year on year in November, with China, Germany and Ukraine posting the largest increases.Chilean state copper producer Codelco has increased the...Read More
The publication of Fastmarkets' China ferro-silicon price assessments for December 23 were delayed because of a reporting error on December 23. The Fastmarkets price book and database have both since been updated. The affected prices are: MB-FES-0001 Ferro-silicon 75% Si min, in-whs China, yuan/tonne MB-FEH-0001 Ferro-silicon 75% Si min export, fob China, $/tonne For more information or to provide...Read More
The latest data for the global manganese ore market for the week ended December 21, 2020.Read More
Chilean state copper producer Codelco has increased the volumes sold into annual cathode supply contracts for 2021, its chief commercial officer Carlos Alvarado told Fastmarkets this week.Codelco produces around 1.7 million tonnes of copper per year - equivalent to 7% of the world's total. The company's regional offers to customers tend to set a benchmark for similar annual supply deals that...Read More