Seaborne iron ore prices were up slightly on Wednesday November 18 after authorities removed emergency pollution controls in the steelmaking hub of Tangshan, sources told Fastmarkets.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $126.34 per tonne, up $0.90 per tonne62% Fe low-alumina fines, cfr Qingdao: $126.58 per tonne, up $0.59 per tonne58% Fe fines high-grade premium, cfr Qingdao: $1...Read More
Iron ore futures price reached the yearly high on the Dalian Commodity Exchange on Thursday November 19 and physical prices also increased, sources told Fastmarkets, with the decrease in steel inventory supporting, sources said. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $127.89 per tonne, up $1.55 per tonne62% Fe low-alumina fines, cfr Qingdao: $128.36 per tonne, up $1.78 per tonne58...Read More
Seaborne premium hard coking coal fob and cfr prices have diverged further on Thursday November 19 following recent transactions in the respective markets, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $97.58 per tonne, down $1.29 per tonnePremium hard coking coal, cfr Jingtang: $159.78 per tonne, up $3.55 per tonneHard coking coal, fob DBCT: $92.78 per tonne, up $1 per tonne...Read More
The world's largest trade deal, the Regional Comprehensive Economic Partnership (RCEP), could result in India losing its share of the Asian steel market, sources told Fastmarkets this week."It is likely that steel mills in Southeast Asia will benefit from the RCEP trade deal, and India will lose market share in Asia," a Chinese trader told Fastmarkets.The RCEP was signed by China, the 10 member co...Read More
Brazilian miner Vale has started emergency protocols to evacuate residents near the Norte/Laranjeiras dam of the Brucutu iron ore mine in Brazil's southeastern state of Minas Gerais."The rise in the emergency level reflects a conservative approach by Vale, although no relevant changes have been observed regarding the safety factors of the structure," the miner said on Wednesday November 18.It is p...Read More
Lithium needs a transparent market where demand and supply meet to foster the growth of the sector, attendees heard during the annual Lithium in the South America conference organised by Panorama Minero on Wednesday November 18.The event that normally takes place in Buenos Aires was hosted virtually this year due to Covid-19 related restrictions. Interest around bringing price transparency to the...Read More
China's domestic rebar prices resumed their uptrend on Thursday November 19 on falling stock levels and rising futures.DomesticEastern China (Shanghai): 4,150-4,180 yuan ($633-637) per tonne, up by 20 yuan per tonneSpot markets in the country had 4.88 million tonnes of rebar on Thursday, down by 577,000 tonnes from a week earlier, according to a local industry information provider.This, coupled wi...Read More
The United Kingdom's new green energy plan could stimulate demand for a range of industrial minerals and minor metals.UK Prime Minister Boris Johnson on November 18 laid out a 10-point plan to invest in renewable resources. As part of the plan, the government will invest ?12 billion ($15.88 billion), and it suggested this spending could spur at least three times...Read More
Strategic & Precious Metals Processing (SPMP) has named Joel Montgomery as its new chief executive with effect from November 1, Fastmarkets learned.Montgomery was chief operating officer and executive committee member at SPMP since September 2018 and has been acting CEO since February 2020.Montgomery spent 12 years with Vale copper nickel operations in Canada where he held various senior oper...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...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 it...Read More
Fastmarkets has partnered with CME Group to launch a cash-settled cobalt contract to be settled against Fastmarkets' daily benchmark cobalt price assessment. The new contract will use an average of the midpoint Fastmarkets' standard grade, in-whs Rotterdam price assessment and will trade under the Bloomberg ticker MB071071 from December 14.The cobalt supply chain has been joined by automotive make...Read More
Joe Biden's victory in the United States presidential election helped propel the US silicon price to its highest level in 15 months, some market participants said, but others were skeptical. Fastmarkets assessed the price for silicon, ddp US, at $1-1.03 per lb on Thursday November 12, narrowing upward by 2 cents from $0.98-1.03 per lb on November 5 - two days before Biden was declared the presiden...Read More
China's domestic stainless steel prices decreased sharply over the week ended Wednesday November 18, sending them to their lowest in nearly four months amid pressure on mills to sell.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 13,100-14,300 yuan ($1,998-2,181) per tonne, down by 600-1,100 yuan per tonne from a week earlier. On average, prices are at their lowest since l...Read More
US copper scrap exporters are waiting to see how China's new regulations affect the flow of scrap metal to the Asian country, which could have a significant impact on domestic copper scrap prices."China is the big unknown," a non-ferrous scrap seller said. "If China starts buying again, we will see a big impact on domestic prices, but we will not see the impact before December."China launched a ne...Read More
The closure of Thyssenkrupps's heavy plate unit is very likely considering the company has received zero interest during the bidding process for its sale, the company said on November 19. German industrial group Thyssenkrupp is going through a restructuring and in May this year, it said it was examining whether to sell or close its heavy steel plate production sites.In its annual report for the fi...Read More
Long-term ferro-vanadium contracts for 2021 are being signed at an average of 5-7% discounts while negotiations continue in November, market sources told Fastmarkets.Long-term contracts for ferro-vanadium in Europe are usually settled against Fastmarkets' European benchmark price assessment with the parties agreeing a discount to the published price to take prevailing market fundamentals into acco...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 5 points in pre-opening trade.The Canadian Dollar added 0.04 to US76.62 cents following release of Canada's September Retail Sales at 8:30 AM EST. Consensus was an increase of 0.2% versus a gain of 0.4% in August. Actual was an increase of 1.1%Workday added $10.20 to $241.00 after reporting higher than consensus quart...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 18 that are worth another look.China will remove its prohibition on the "processing trade" for 136 steel products from December 1, 2020, the country's Ministry of Commerce (MOC) said last week.Alba chief...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday November 18.Please click...Read More