Seaborne premium hard coking coal prices declined on Tuesday July 14 after several transactions were concluded at lower prices, with sources reporting a burst in trading over the day following inactivity last week. Fastmarkets indicesPremium hard coking coal, fob DBCT: $111.11 per tonne, down $1.38 per tonne Premium hard coking coal, cfr Jingtang: $121.57 per tonne, down $1.54 per tonneHard coking...Read More
Domestic prices for ferrous scrap in Italy were fairly stable in the month up to Monday July 13, with limited demand from steel mills balanced by reduced scrap supply from the automotive industry. Fastmarkets' monthly price assessment for steel scrap, E40 shredded, delivered to mill, Italy was ?,?220-240 ($249-272) per tonne on July 13, unchanged over the month. And the monthly price assessme...Read More
The three-month zinc price on the London Metal Exchange was the standout underperformer during morning trading on Tuesday July 14, wiping out gains made on Monday amid continued market volatility. Zinc's outright price on the LME was recently seen at $2,208.50 per tonne, falling by more than 2% from Monday's closing price of $2,261.50 per tonne, while turnover was moderate at over 3,600 lots excha...Read More
Asian-Pacific equities and the base metals trading on the London Metal Exchange were weaker this morning, Tuesday July 14, with profit-taking emerging in the face of increased Covid-19 cases and earnings uncertainty. China's imports and exports climbed in June, a sure sign of improved economic conditions, albeit after months of hardship.United States President Donald Trump said last week he was no...Read More
China's ferro-chrome market has been rising, with incremental increases in its annual output since 2015, and that momentum has extended despite the market being faced with a series of challenges in the first half of the year.This includes a wave of Covid-19-related production cuts and the supply disruptions to South Africa's chrome ore and while the market approaches the second half of 2020, the m...Read More
China's vanadium alloy prices consolidated in the week to Thursday July 9 after many domestic alloy suppliers refused to compromise further on prices and mills' buying interest gradually waned after having completed restocking in previous weeks, market sources told Fastmarkets. Many domestic suppliers for vanadium alloys including both ferro-vanadium and vanadium nitrogen were reluctant to lower o...Read More
Asian-Pacific equities were mixed this morning, Wednesday July 15, with markets in China and Hong Kong lower, while other markets in the region and pre-market major western equity markets were firmer.The base metals traded on the London Metal Exchange and Shanghai Futures Exchange gave a similarly divergent performance; three-month base metals prices on the LME mostly edged higher this morning, wh...Read More
TSX Composite Index moved above $15,980.07 and the TSX 60 Index moved above 963.58 to a 4 month high extending an intermediate uptrend.Equity indices and related ETFs tracking equity markets outside of North America are breaking to four month highs extending intermediate uptrends. EAFE (EFA) moved above $73.76.European iShares were notable for their breakouts to four month highs:Other breakouts by...Read More
(Updates prices) By Eric Onstad LONDON, July 14 (Reuters) - Copper prices slipped on Tuesdayafter a steep rally on worries about rising coronavirus casesand friction between the United States and top metals consumerChina. Copper had soared about 50% from its 45-month lows touchedin March to a two-year peak hit on Monday, largely on supplyconcerns from the biggest producer Chile. But copper stumble...Read More
Here are five Fastmarkets stories you might have missed on Monday July 13 that are worth another look.Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on July 13.Russian multi-metal miner Nornickel reported a second Arctic fuel spill durin...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Monday July 13. The index was calculated at $277.26 per tonne, up from $275.49 per tonne on Friday July 10 and at its highest since March 19. Key drivers: Multiple deals concluded after publication on Friday July 10 for September loading. The highest deal was concluded at $284 per tonne fob Western Aust...Read More
Russian multi-metal miner Nornickel reported a second Arctic fuel spill during an aviation refueling exercise, the company said on Sunday July 12.Around 44.5 tonnes of fuel was lost at subsidiary Norilsktransgaz's pipeline in Tukhard, Krasnoyarsk, due to pipeline depressurization, which occurred at 11.15am on Sunday and lasted approximately 15 minutes, the company said.No casualties were repo...Read More
Here are five Fastmarkets stories you might have missed on Monday July 13 that are worth another look.Brazilian miner Vale has entered into a non-binding agreement with Japanese companies Kobe Steel and Mitsui to form a low-emission steel joint venture, it said in a filing to Brazil's securities commission CVM on July 13.Russian multi-metal miner Nornickel reported a second Arctic fuel spill durin...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Monday July 13. The index was calculated at $277.26 per tonne, up from $275.49 per tonne on Friday July 10 and at its highest since March 19. Key drivers: Multiple deals concluded after publication on Friday July 10 for September loading. The highest deal was concluded at $284 per tonne fob Western Aust...Read More
The Chinese alumina price rose to its highest level in four months on Thursday July 9, supported by a strong aluminium futures price on the Shanghai Futures Exchange. Fastmarkets' weekly assessment for alumina metallurgical grade, ddp China soared to 2,400-2,450 yuan ($343-350) per tonne on July 9, up by 100-120 yuan per tonne in a week from 2,300-2,330 yuan per tonne on July 2. The price is...Read More
The latest data for the global manganese ore market for the week ended July 13, 2020.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the session ended on Friday June 10.Europe Prices fell by nearly 5% for both grades with suppliers cutting offer prices and doing deals well below the previous range. During the week, there were slightly more bids reported from traders in comparison with the very quiet previous months, while producers showed no resistance...Read More
The UK market for deliveries of steel scrap to domestic consumers has dropped month-on-month in line with demand, with steelmakers positioning their smelting schedules for the seasonal summer slowdown.But there was enough support to avoid significantly steeper losses, market sources told Fastmarkets on Monday July 13.Consumers of steel scrap in the UK were expected to cut production in late July a...Read More
Turkish steel producers paused their deep-sea scrap purchases once again at the beginning of the week after booking only two deep-sea cargoes late last week, sources told Fastmarkets on Monday July 13.Turkish steel producers have not been rushing to buy deep-sea scrap so far this month due to weak finished long demand in both the local and export markets.At the end of the last...Read More
Broader markets were upbeat this morning, Monday July 13, with Covid-19, weather-related supply disruptions and the threat of a labor strike at the Zaldivar copper mine in Chile driving sentiment.US earnings seasons starts this week, so expect a pick-up in volatility......expectations are for bad results, but the market's reaction will depend on how bad they are. Base metals Three-month base metal...Read More