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Here are five Fastmarkets MB stories you might have missed on Friday November 1 that are worth another look.Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a la...Read More
Here are five Fastmarkets MB stories you might have missed on Friday November 1 that are worth another look.Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a la...Read More
Here are five Fastmarkets MB stories you might have missed on Friday November 1 that are worth another look.Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a la...Read More
Prices for steel billet stabilized in most markets due to resistance to higher offers from the Commonwealth of Independent States and the absence of demand from re-rollers in China.This comes after a period of mild recovery in billet markets due to stronger prices for ferrous scrap.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey was calculated at $...Read More
Prices for steel billet stabilized in most markets due to resistance to higher offers from the Commonwealth of Independent States and the absence of demand from re-rollers in China.This comes after a period of mild recovery in billet markets due to stronger prices for ferrous scrap.Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix), Northern Europe origin, cfr Turkey was calculated at $...Read More
Here are five Fastmarkets MB stories you might have missed on Friday November 1 that are worth another look.Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a la...Read More
Here are five Fastmarkets MB stories you might have missed on Friday November 1 that are worth another look.Chinese steel exporters are bracing for a tough year end and an equally challenging 2020, even as the trade war between China and the United States mellows after a truce reached in early October.Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a la...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. The Dow Jones Industrial Average is expected to open above its previous all-time high at 27,369.68.Bausch Health added $0.78 to $26.70 U.S. after reporting higher than consensus third quarter earnings.McDonalds dropped $3.83 to $190.11 after the company fired its Chief Executive Officer....Read More
Brazilian iron ore export volumes and revenues dropped year-on-year in October due to supply disruptions, according to figures released by the country's economy ministry on Friday November 1.Export volumes of iron ore declined to 31.20 million tonnes in October, down by 16.1% from 37.19 million tonnes a year earlier.Iron ore shipments from the country fell this year in an annual comparison, becaus...Read More
A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session this week."Steel is going to drift a bit lower, but not collapse," Citi research analyst Tracy Liao told delegates on Thursday October 31, "[and] iron ore will go quite a bit lower, whereas coking coal prices will go up." Liao said that wh...Read More
BHP will provide $44 million of the necessary funding to resume operations at Brazilian iron ore pellet producer Samarco, the Australia-based mining company said on Friday November 1.Samarco is a joint venture between BHP and Vale and has been closed since late 2015, when a tailings dam failed and flooded the nearby Rio Doce river in southeastern Brazil.On October 25, the pellet producer received...Read More
Brazilian domestic prices for flat steel products were stable this past month despite attempts from steelmakers to apply price increases.Some mills have been trying to raise prices due to decreasing competition from imported material, but low demand has been hampering those efforts.Local steelmaker Usiminas announced on October 28 that it was applying an increase of 5% in prices to distributo...Read More
Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a lack of spot deals while annual contract negotiations kicked off during the annual London Metal Exchange Week gathering this week.Fastmarkets' copper treatment and refining charges index cif Asia Pacific was at $56.3 per tonne/5.63 cents per lb as of Friday November 1, compared with $55.9/ 5.59 cents a week earlie...Read More
Aluminium closed at its highest in six weeks on the London Metal Exchange on Friday November 1 while copper also continued its recovery. The three-month aluminium closed at $1,786 per tonne this afternoon after peaking earlier at $1,790 per tonne. More than 18,000 lots changed hands by the close, the highest one-total since July. Still, market participants must factor in costlier financing conditi...Read More
The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More
Copper concentrate treatment and refining charges (TC/RCs) rebounded slightly amid a lack of spot deals while annual contract negotiations kicked off during the annual London Metal Exchange Week gathering this week.Fastmarkets' copper treatment and refining charges index cif Asia Pacific was at $56.3 per tonne/5.63 cents per lb as of Friday November 1, compared with $55.9/ 5.59 cents a week earlie...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday November 1.China Imported UG2 chrome ore prices dropped by 4% because of lower offers from suppliers. Conditions had been stagnant in recent weeks. Turkish lumpy chrome ore prices softened in response to weak demand. In light of the lower chrome ore offers at the start of the week, Tsingshan Group.....Read More
The alumina price on a fob Australia basis rose to $285 per tonne in the week ending Friday November 1, its highest since early October, thanks to continued import demand from China. Fastmarkets calculated the benchmark daily alumina index, fob Australia at $285.18 per tonne on Friday, down only slightly from $285.42 per tonne on the previous day. Before Thursday, it had not traded above $285 per...Read More
Traxys has signed a multi-year deal to sell cobalt metal and hydroxide produced by Norilsk Nickel. Under the terms of the deal, Traxys will commercialize all Norilsk material not sold in the Russian market, Fastmarkets understands. The deal...Read More