Copper production could resume at Lundin's Candelaria copper mine in Chile after the company agreed a new collective bargaining agreement with a portion of striking workers there, Fastmarkets understands.Lundin reached a deal with around 550 workers from the AOS Union who had been striking over payment while workers...Read More
Zambia's Court of Appeal has ruled that Vedanta can proceed to arbitration with state mining firm ZCCM, in a dispute over the Indian mining major's copper assets in the central south African nation.Vedanta's 79.4% owned Konkola Copper Mines (KCM) in Zambia were seized and ordered to be liquidated in May 2019 over alleged mismanagement. The assets at the heart of dispute are KCM's Nc...Read More
Hammerer Aluminium Industries (HAI) has been provisionally certified against the Aluminium Stewardship Initiative (ASI) 'Performance Standard' for responsible production, sourcing and stewardship of aluminium. The certification is for HAI's remelting and casting operations at the Santana SRL facility in Romania. The plant's operations include the production of extrusion billets and rolling ingots...Read More
London Metal Exchange three-month base metals prices remained broadly unchanged - amid an upbeat sentiment on Monday November 23 - from the previous Friday's session, when most prices rallied on account of momentum-based trading.Nickel's three-month price hit $16,200 per tonne as of 9:20am on Monday, a 0.3% increase from Friday closing price of $16,151 per tonne. AstraZeneca's announcem...Read More
The Chinese price for nickel pig iron (NPI) continued to drop in the week to Friday November 20, with the falling price of domestic stainless steel and some traders' sell-offs at lows dragging prices down, sources said. Fastmarkets assessed the price of nickel pig iron, high-grade NPI content 10-15%, spot, ddp China at 1,070-1,100 yuan ($163-168) per nickel unit on Friday, down by 60-70 yuan per n...Read More
Cold-heading quality (CHQ) and high-carbon wire rod prices in the United States rose on Friday November 20 amid higher scrap prices and increased demand. Fastmarkets' monthly assessment for steel wire rod (high carbon), fob mill US rose by 2.8% to $37.25 per hundredweight ($745 per short ton) on Friday November 20 from $36.25 per cwt previously, where the price had remained since September 18.Fast...Read More
Hot-rolled coil prices in the United States have surged on confirmed buying activity and incredibly thin spot availability, prompting at least one electric-arc furnace (EAF) coil producer to quietly communicate a base price increase to customers, Fastmarkets has learned.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $38.80 per hundredweight ($776 per short ton) on Mo...Read More
Domestic steel rebar suppliers to Russia's Central Federal District around Moscow have increased their offer prices slightly, tracking higher export offers, sources told Fastmarkets on Monday November 23.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia, was 41,000-41,500 roubles ($538-544) per tonne including 20% VAT on Monday, up from 40,000-41,...Read More
Flat steel suppliers to Russia's Central Federal District around Moscow are insisting on higher prices due to the uptrend in the export market, sources told Fastmarkets on Monday November 23.Hot-rolled sheetFastmarkets' weekly price assessment for steel hot-rolled (HR) sheet, domestic, cpt Moscow, Russia was at 45,000-48,000 roubles ($590-629) per tonne including 20% value-added tax on Monday Sept...Read More
Turkish domestic scrap prices have continued to increase over the past week in line with the rise in imported scrap values, sources said on Monday November 23.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,250-2,545 lira ($293-332) per tonne on Monday, up from the 2,230-2,455 lira per tonne of last week.The movement came after steel mills...Read More
Turkish steel mills continued to book deep-sea scrap cargoes at the beginning week at slightly higher prices, sources said on Monday November 23.A steel mill in the Marmara region booked a European cargo, comprising 25,000 tonnes of HMS 1&2 (75:25) 10,000 tonnes of shredded and 5,000 tonnes of bonus, at an average price of $332.50 per tonne cfr.This fresh transaction, led to another slight...Read More
Iron ore prices fell across the board on Monday November 23 due to expectations of weak demand for steel and iron ore during the coming few days of cold weather. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.24 per tonne, down $1.59 per tonne 62% Fe low-alumina fines, cfr Qingdao: $127.49 per tonne, down $1.80 per tonne 58% Fe fines high-grade premium, cfr Qingdao: $117.37 per tonne...Read More
Fastmarkets has decided not to proceed with the proposed amendment of the specifications of the indices for (MB-COA-0003) premium hard coking coal, fob DBCT, $/tonne and (MB-COA-0005) premium hard coking coal, cfr Jingtang, $/tonne, due to changes in spot market conditions.A decision has also been made to not proceed with the proposed launch of two grade-differential indices to reflect the fob Aus...Read More
Prices for seaborne iron ore concentrate and pellets continued to rise in the week ended Friday November 20 amid an increase of demand among Chinese steelmakers due to costlier coking coal, sources told Fastmarkets.Fastmarkets iron ore indices66% Fe concentrate, cfr Qingdao: $137.39 per tonne, up $4.89 per tonne.65% Fe blast furnace pellet, cfr Qingdao: $157.96 per tonne, up $0.24 per tonneKey dri...Read More
Seaborne hard coking coal fob Australia prices have eased on Monday November 23 amid talk in the market of Chinese buyers possibly re-selling cargoes that have been floating on water, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $99.22 per tonne, up $0.82 per tonnePremium hard coking coal, cfr Jingtang: $160.27 per tonne, unchangedHard coking coal, fob DBCT: $90.53 per tonne...Read More
China's domestic hot-rolled coil prices fell on Monday November 23, but mills maintained their export offers at high levels amid a bullish outlook.DomesticEastern China (Shanghai): 4,120-4,140 yuan ($628-631) per tonne, down 20 yuan per tonneSources in Shanghai said that spot prices weakened after HRC futures fell.Trading on Monday was also thin, they said.A Tianjin-based trader said HRC futures h...Read More
The base metals were mixed this morning, Monday November 23, but the underlying trends remain bullish following recent fresh highs in most of the metals. US dollar index remains weak, helping to underpin metal pricesBase metals The three-month base metals prices on the London Metal Exchange were mixed, with zinc and lead weaker by 0.2% and 0.6% at $2,795 per tonne and $2,017 per tonne respectively...Read More
Key data from the pricing sessions in the United States, Europe and Asia for the week ended Friday November 20.China Overseas consumers were actively sourcing material in anticipation of even higher purchase costs given soaring freight fees and rising silicon prices in China. Domestic price strength also supported higher offers from exporters. Chinese silicon producers said....Read More
Weak end-user demand continued to push the tantalum concentrate price down to a fresh 2020 low in the week ended Friday November 20. Fastmarkets assessed the price of tantalite, basis 25% min Ta2O5, cif China at $48-50 per lb on Friday, down from the previous week's assessment of $50-52 per lb and a fresh year-to-date low. "Demand from the electronics sector is still weak and China is still n...Read More
The cobalt alloy 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...Read More