A group of metals and mining companies including Glencore and Anglo American have joined forces with the World Economic Forum to explore the use of blockchain technology to accelerate responsible sourcing of raw materials. The Mining and Metals Blockchain Initiative will explore the building of a blockchain platform to address transparency, the track and tracing of materials, the reporting of carb...Read More
A declining rebar market in China coupled with elevated prices for scrap have put a squeeze to the profit margins of electric-arc furnace operators in the country since September.Amid a pessimistic outlook for demand and prices, market participants are expecting these EAF operators - which account for close to a third of the supply of the long steel product in China - to cut their output soon.EAF...Read More
Vale saw its adjusted earnings grow by 6.4% year on year in the third quarter amid higher prices and lower expenses related to the Brumadinho tailings dam disaster early this year.The Brazilian miner's adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the July-September period totaled $4.60 billion, which compares with $4.33 billion a year earlier.Vale's reported...Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Trade unions representing workers for Chile's state-run miner Codelco have called on their members to mobilize in support of protests against the government.Union No1 for Codelco's Chuquicamata has joined Sindicato No1 for BHP's Escondida in backing protestors, whose opposition to inequality in the country has escalated into alleged looting and arson, and to violent confrontations with the militar...Read More
Electric vehicles (EVs) are forecast to reach cost and functional parity with internal combustion engine (ICE) vehicles by 2025. Theoretically, this should create the global tipping point for mass market EV adoption, along with the development of the associated charging infrastructure required to accompany the growth.In practice, it is not quite as straightforward.A recent report by investment res...Read More
Copper has attempted to rebound since early September following a marked sell-off in the summer months where macro and fundamental forces have been prevalent.On the macro front, copper has benefited from a slight easing in US-China trade tensions and more monetary policy easing across the globe - including China, where copper consumption is the most exposed - that has shored up investor sentiment....Read More
The three-month copper price on the London Metal Exchange was higher at the close of trading on Friday October 25, settling above the $5,900 per tonne level for the first time since September amid thin turnover, while zinc futures similarly closed higher. Copper's outright price closed at $5,925 per tonne on Friday, climbing by around 1.2% from its intraday low of $5,862 per tonne and settling at...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The widening arbitrage loss and low buying interest weighed on the Shanghai copper cathode premiums in the week ended Friday October 25. Fastmarkets' copper grade A cathode premium, cif Shanghai fell to $68-80 per tonne on Friday, down by $2 from $70-82 per tonne on Thursday and the second straight day of decline. Market participants pointed to a widening arbitrage loss and low buying interes...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Bearish macroeconomic signals and oversupply have put minor metals and ferro-alloys prices variously under pressure over 2019; the structure and terms of contracts agreed over the coming weeks will show how market participants are accounting for those signals ahead of 2020. A slowing global economy alongside uncertainty over the China-United States trade dispute and Brexit have slowed minor metals...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 25.China The seaborne manganese ore prices in China continued to fall amid aggressive offer prices and persistently weak market sentiment. Higher grade offer prices fell but liquidity was light indicating many buyers anticipated the market would soften further. Port-side manganes...Read More
Russian aluminium producer Rusal released its results from a 'disappointing' third quarter on Friday October 25, which saw 'further deterioration' in aluminium demand compared with the previous quarter.Global aluminium demand decreased to almost zero growth year-on-year in the first nine months of 2019 at 49.5 million tonnes (ex-China region was down 1.5% year-on-year at 21.9 million tonnes), whil...Read More
Bauxite deliveries from Cie des Bauxites de Guin?(C)e's (CBG) at the port of Kamsar in Guinea will be disrupted due to a broken conveyor, sources told Fastmarkets. Images seen by Fastmarkets on Thursday October 24 show that the bauxite conveyor belt's structure has partially collapsed. Bauxite miner CBG exports approximately 15 million tonnes per year of high-grade bauxite and is jointly owned by...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
An overview of the minor metals markets and the reasons for their latest price moves.Read More
Ferrous scrap prices on the global markets continued to move up during the working week ended Friday October 25, with a positive Turkish market adding to the stronger sentiment. Turkish import prices continue to move up on fresh booking US export prices up again on new Turkey cargoes Taiwan import prices increase on continued tight supply Vietnam import prices higher following global trend Indian...Read More
The inter-merchant spot market for UK-origin light iron scrap was unchanged in the week ended Friday October 25, extending a steady run of prices into a fourth week in line with domestic demand and a pick-up in European steel scrap export prices this month.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK, was ?60-80 ($77-103) per tonne on F...Read More
Turkish steel mills resumed their deep-sea scrap purchases at the end of this week, paying slightly higher prices, sources told Fastmarkets on Friday October 25.A steel producer in the Marmara region booked a US cargo, comprising 20,000 tonnes of HMS 1&2 (90:10) and 20,000 tonnes of shredded at an average price of $256 per tonne cfr. The price of shredded...Read More