The cobalt standard grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets assessed cobalt standard grade, in-whs Rotterdam at$13.80-14.20 per lb...Read More
The cobalt alloy grade, in-whs Rotterdam trade log, including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trade logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it...Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday July 8.Key drivers The ferro-titanium and titanium scrap markets have been stable over the past week, steadying a run of losses in the past few weeks while suppliers say the relative tightness encouraged a refusal to cut prices further. This was despite some reports of lower-priced offers from China and some from Russia. There has b...Read More
Key data from Fastmarkets' pricing session in China on Wednesday July 8.Key driversThe domestic price strengthened in response to higher offers and producers' resistance to compromise on prices.Many producers either raised offer prices or were unwilling to make a compromise when negotiating with buyers, citing the limited number of available cargoes at hand.Some...Read More
African metal exporters are re-routing their cargoes to avoid the logistics problems created a nationwide strike by truck drivers in South Africa that started on Tuesday July 7.Major roads were blocked amid protests by South African truckers who oppose the employment of foreign drivers."Cargoes are now stuck in South Africa. Transport [operators] have told drivers to park [their vehicles] wherever...Read More
With the exception of China's CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Wednesday July 8, while base metals prices on the London Metal Exchange were little changed and those on the Shanghai Futures Exchange were generally firmer.We wait to see if the halt in the rise in equities is just a pause, or whether focus is turning to the rapid sp...Read More
The recent resurgence of Covid-19 infections in Beijing is not expected to exert any significant impact on the domestic ferro-alloys market, delegates heard at Fastmarkets' "Covid-19 and Asian ferro-alloys market" webinar on Tuesday June 30. "I think [despite] the [new outbreak of Covid-19 cases] in Beijing, the influence [on the domestic ferro-alloys market] is quite slight, or [we can say there...Read More
The recovery in Chinese steel consumption, especially that for rebar, has been "extraordinary", while the downturn in the automotive sector may not necessarily mean stainless steel demand will decline this year, delegates heard at Fastmarkets' Covid-19 and Asian ferro-alloys markets webinar on Tuesday June 30.In the final poll of the webinar, regarding which downstream sector is most likely to aid...Read More
Mexico's automotive production continued to recover in June amid the Covid-19 pandemic, rising by nearly 10 times from May. But it remains about a third lower compared with a year earlier.The country produced 238,946 light vehicles last month, in sharp contrast with the 22,119 units produced in May, but still 29.3% lower than an output of 337,721 units in June 2019, according to data released by i...Read More
Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc. Wednesday saw European equities pull back and those in the United States initially followed, but then US stocks ended Wednesday with ga...Read More
Walgreen Boots (WBA), a Dow Jones Industrial stock moved below $39.83 setting an intermediate downtrend. The company announced plans to reduce its workforce by 7,000.CVS Health (CVS), an S&P 100 stock moved below $61.82 setting an intermediate downtrend.More precious metal stock breakouts on U.S. equity markets! Wheaton Precious Metals moved above US$47.05 to an all-time high, Kinross Gold mov...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 7 that are worth another look.Protests on July 7 halted road freight transportation in South Africa.Steel plate prices in the United States weakened after the segment was hit by persistently slow end markets, and some mills were willing to capitulate in deal-making to book tonnage in the final days of the second quarter.China...Read More
The three-month price of lead on the London Metal Exchange was at the top of the list of gains at the close of trading on Tuesday July 7, with the price appreciating by 1.5% to push above nearby resistance levels, while a continued rise in LME copper futures took the red metal to a six-month high.Lead's outright price on the LME closed at $1,828.50 per tonne on Tuesday afternoon, climbing from an...Read More
First Quantum Minerals is to resume production at its Cobre Panama copper project after Panama's government lifted its Covid-19 suspension of operations at the site. The Panama copper project is expected to reach full capacity by mid-August, the Toronto, Canada-listed company said. A phased increase in personnel is expected to take output to an annualized throughput rate of 85...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 7 that are worth another look.Protests on July 7 halted road freight transportation in South Africa.Steel plate prices in the United States weakened after the segment was hit by persistently slow end markets, and some mills were willing to capitulate in deal-making to book tonnage in the final days of the second quarter.China...Read More
Teck Resources has delayed the start of the Red Dog shipping season after equipment failure on one of its two barges forced the vessel out of service for about a month. The Vancouver, Canada-based company said that shipping from Red Dog will begin in around seven days with one barge operational and that repairs to the other barge will be completed in around four weeks."This will affect the timing...Read More
Alumina exports from Brazil increased in June on an annual basis but at a reduced rate than in the previous months of this year, data from the country's economy ministry on Monday July 6 showed. Brazilian alumina exports totaled 679,914 tonnes in June, a 4.6% year-on-year increase from 650,229 tonnes. When compared with May figures, however, exports fell by 12.8% from 779,694 tonnes. The lower exp...Read More
Here are five Fastmarkets stories you might have missed on Tuesday July 7 that are worth another look.Protests on July 7 halted road freight transportation in South Africa.Steel plate prices in the United States weakened after the segment was hit by persistently slow end markets, and some mills were willing to capitulate in deal-making to book tonnage in the final days of the second quarter.China...Read More
The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. The cobalt alloy grade, in-whs Rotterdam trade log including business, bids and offers reported to Fastmarkets. Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets...Read More