A broad base of markets are rebounding after China's move to boost liquidity and stabilize the market convinced many investors that the measures being taken will help cushion the economic impact of the Wuhan coronavirus (2019-nCoV). Given that it is still early days in terms of discerning the medium-term impact of the Wuhan coronavirus will have on the China and, indeed, the global econo...Read More
The latest selenium transactions, bids, offersand assessments in Europe reported toFastmarkets.Unless otherwise stated, all prices are per lb and on an in-warehouse Rotterdam basis. Delivered prices are netted back.To view the latest price assessment...Read More
An overview of the minor metals markets and their latest price moves.Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Cobalt trade log including business, bids and offers reported to Fastmarkets. Unless otherwise stated, all prices are per lb on an in-warehouse (in-whs) basis. Delivered prices are netted back. Fastmarkets...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday February 5.Key drivers The price range for ferro-titanium has narrowed over the past week, with increased trading activity resulting in higher-priced deals in Europe. There was an increase in traded volumes reported, with sources saying higher-priced sales from Europe to Asia had spurred domestic European buying inte...Read More
Fastmarkets has discontinued the calculation and publication of its MB-CO-0022 - China cobalt sulfate, Co 20.5% min, ex-works, adjustment to the low-grade cobalt low-end price.The discontinuance of the China cobalt sulfate, exw standard-grade adjustment, which is calculated against Fastmarkets' assessment of the all-in exw China cobalt sulfate price and the low end of the standard-grade cobalt pri...Read More
Aperam chief financial officer (CFO) Sandeep Jalan has resigned, the stainless steel producer said on Wednesday February 5.Jalan, who is set to depart at the start of May, is leaving Aperam to pursue other career opportunities outside the steel and mining industry, the...Read More
Exports of ferrous scrap from Japan rose 3.4% in the full year of 2019, according to data from the Japanese Iron and Steel Recycling Institute (JISRI), amid lower local demand and higher interest from developing Asian markets.Overall scrap export volumes rose to 7.66 million tonnes over the 12 months of 2019, compared with 7.4 million tonnes in 2018.Falling electric arc furnace (EAF) output - down...Read More
South Korean steelmaker Hyundai Steel has introduced a new procurement policy for bidding on Japanese ferrous scrap with cost and freight (cfr) included, a company spokesman said on Tuesday February 4.Hyundai is to launch tenders in six regions across Japan, with prices to be negotiated on a cfr South Korea basis instead of the previous fob Japan basis.Fastmarkets understands the tenders will be l...Read More
The broad-based rally across markets continues with investors focusing more on the improving economic data than they are on the uncertain economic impact of the Wuhan coronavirus (2019-nCoV). Claims by Chinese media that a treatment for the virus had been found fueled the rallies yesterday, but the World Health Organization talked down the news.Asian equity indices up either side of 2% this mornin...Read More
U.S. equity index futures continued to move higher this morning. S&P 500 futures were up 11 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EST. Consensus for Weekly Jobless Claims was 215,000 versus revised 217,000 last week. Actual was 202,000. Consensus for fourth quarter Productivity was an increase of 1.2% versus a decline...Read More
Steel and aluminium market participants were disappointed with the outcome of their efforts to convince President Donald Trump's administration to extend the Section 232 tariffs to downstream product imports, which have surged into the United States in the past year."I try to maintain a positive outlook at all times, and it's clear we have convinced the Department of Commerce that 232 has created...Read More
London Metal Exhchange three-month base metals prices absorbed any residual optimism from the People's Bank of China's 1.2 trillion yuan ($174 billion) boost to liquidity to close the day little-changed on Tuesday February 4. "Much of the dip-buying interest seen in the early Asian trading session on Tuesday February 4 appears to be a false dawn," Fastmarkets analyst Andy Farida said. "The LM...Read More
Port of Shanghai, the world's biggest port by container throughput, and other major ports in China will waive the extra storage fees incurred during the logistics lockdown imposed in relation to the novel coronavirus outbreak. Shanghai International Port Co, the operator of Port of Shanghai, said on February 1 that cargo holders do not have to pay for their use of container storage space from Janu...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday February 4 that are worth another look.As international exchanges continue to encourage trade in their ferrous contracts, Fastmarkets asks market experts for their views on progress in steel price risk management over the past year and the outlook for 2020.Port of Shanghai, the world's biggest port by container throughput, and o...Read More
Worldwide silico-manganese output rose by 13% year-on-year to 18 million tonnes in 2019, driven by increased production in Asia, according to the International Manganese Institute (IMnI).The Asia and Oceania region produced 85% of the world's silico-manganese supply at 15 million tonnes, up by 17% year-on-year, while all other regions reduced their production, according to data in the institute's...Read More
Hebei Steel, China's second-largest steel mill, has set its price for silico-manganese for February delivery at 7,200 yuan ($1,027) per tonne, market participants told Fastmarkets on Tuesday February 4.This was up by 600 yuan per tonne from the mill's January tender price, they added.The price from Hebei Steel, which is for cargoes delivered to warehouse, includes value-added tax and should be pai...Read More
Swiss miner-trader Glencore produced 46,300 tonnes of cobalt in 2019, up 10% from 42,200 tonnes in 2018, mainly due to the ramp up in operations at Katanga in the Democratic Republic of Congo. Cobalt production at Glencore's African copper assets, which includes Katanga and Mutanda, totaled 42,200 tonnes - contained in hydroxide - in 2019, up 10% from 38,400 tonnes a year earlier. The scale down a...Read More
Frederic Sese has joined Kamoto Copper Company (KCC) as its commercial director. Sese was previously in the raw materials and buying team at ArcelorMittal, and later Aperam. He also...Read More
Participants in the Mexican ferrous scrap market have started to see the first price cuts due to uncertainty in global scrap prices, which led some steelmakers to reverse their earlier increases in bid prices.Some steelmakers have lowered their offers for ferrous scrap due to the global downturn, putting Mexican prices, which were previously believed to be at a peak, under pressure.The downtrend w...Read More