Mining major Rio Tinto is stepping into China's port market for iron ore, with sales in the segment gaining significance amid changes in the raw material procurement strategies of steelmakers in the country.It will begin a trial sale of its products at the Port of Rizhao in eastern China and the Port of Caofeidian in northern China, its vice president for iron ore sales and marketing, Simon Farry,...Read More
China's hot-rolled coil prices fell further on Thursday September 26 amid weak demand despite mills in some parts of the country being subjected to steelmaking curbs.DomesticEastern China (Shanghai): 3,600-3,630 yuan ($505-509) per tonne, down 20-40 yuan per tonneNorthern China (Tangshan): 3,550 yuan per tonne, down 50 yuan per tonneA Shanghai-based trader said trading thinned in comparison with W...Read More
China's domestic rebar prices were unchanged on Thursday September 26, with low spot market inventories providing support amid declining futures.Domestic Eastern China (Shanghai): 3,680-3,700 yuan ($517-520) per tonne, unchangedNorthern China (Beijing): 3,590-3,630 yuan per tonne, unchangedStockists had lower inventories after their active selling over the past one week.Major spot markets in China...Read More
Export prices for Chinese stainless steel rose over the past week, with producers raising their offers amid a strengthening nickel market.The three-month nickel contract on the London Metal Exchange is averaging at $17,593 per tonne so far this month, compared with August's average of $15,661 per tonne.Buying interest was limited in the stainless steel market, however, with bearish factors such as...Read More
The acquisition of processed graphite represents a potential reputational risk for participants in the battery sector, according to Adam Panayi, managing director of battery analyst RHO Motion."There are reputational issues surrounding graphite processing, as well as cobalt," Panayi said at Fastmarkets' Battery Materials Europe 2019 conference in Amsterdam, September 26-27. "The leaching process o...Read More
Fastmarkets is extending until October 15 the consultation period for its proposal to discontinue five of its precious metals prices.Fastmarkets made this decision because the responses received to date have identified a need to conduct more in-depth consultation into the usage of and need for these prices.The prices being proposed for discontinuation are as follows:Platinum min 99.9% Europe Free...Read More
Europe's battery production capacity will have more than doubled by 2025 from the level in 2015, according to Eurobat, the Association of European Automotive & Industrial Battery Manufacturers.Battery production capacity in Europe will increase to at least 1,000GWh by 2025 from 440GWh in 2015, according to Gert Meylemans, the group's senior communications manager, speaking at Fastmarkets' Battery...Read More
The latest selenium transactions, bids, offers and assessments in Europe reported to Fastmarkets.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 for selenium, 99.5% Se min, in-whs Rotterdam, click here.To see all Fastmarkets' pricing methodology and specification documents, go to https:...Read More
Taiyuan Iron & Steel (Tisco) has raised its ferro-chrome tender price for October above that of Tsingshan Group in a rare move, signaling differing procurement strategies and feedstock needs for the remainder of 2019. Tisco took the lead on Friday September 20 by announcing a monthly tender price for high-carbon ferro-chrome at 6,500 yuan ($911) per tonne on a duty-paid basis including delivery fo...Read More
China's domestic stainless steel prices rose late last week on costlier nickel, and maintained those gains over the first three days of this week.The start of trading of stainless steel futures on the Shanghai Futures Exchange on Wednesday September 25 had little effect on the spot market. Fastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs Chin...Read More
Equity index futures moved higher this morning. S&P 500 futures were up 8 points in pre-opening trade.Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for August Durable Goods Orders was a drop of 1.2% versus a gain of 2.0% in July. Actual was an increase of 0.2. Excluding Transportation Orders, consensus for August Durable Goods Orders was an...Read More
(Updates with closing prices) By Peter Hobson LONDON, Sept 26 (Reuters) - Copper prices fell on Thursdayas investors focused on a weak demand outlook and were scepticalof a suggestion by U.S. President Donald Trump that he couldsoon reach a trade deal with China.Industrial metals were also caught in wider market moves asaccusations that Trump pressed Ukraine to investigate apolitical rival pushed...Read More
The London Metal Exchange three-month lead price continued to rise over the day's trading on Wednesday September 25, closing up by 2.4% on the previous day at $2,107 per tonne. Market analysts attribute the increase to prevailing supply tailwinds at a time when global demand for material is forecast to grow. Nyrstar's Port Pirie smelter closure in Australia, due to take 30,000 tonnes of mater...Read More
Despite concerns of low prices and poor demand, the aluminium market still has growth potential due to the automotive industry, McKinsey & Company's Benedikt Zeumer said at Fastmarkets' International Aluminium Conference held in Athens, Greece.The fastest growing underlying factor to global aluminium growth is the global automotive sector, Zeumer said. McKinsey's outlook does not indicate that the...Read More
Fastmarkets outlines some of the key topics likely to dominate discussions when participants of the battery raw materials and electric vehicle supply chain gathers in Amsterdam this week.Are cobalt buyers serious about booking early for 2020? Some discussions for cobalt supply agreements in 2020 started almost as soon as Glencore announced it would close its Mutanda mine at the end of the yea...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday September 25 that are worth another look.Global long steel consumption was expected to reach 851 million tonnes in 2019, up by 2.4% year on year although mounting political uncertainties such as trade wars and the UK's intended exit from the EU may soften this growth, according to steelmaker Celsa.Despite concerns of low price...Read More
Fastmarkets outlines some of the key topics likely to dominate discussions when participants of the battery raw materials and electric vehicle supply chain gathers in Amsterdam this week.Are cobalt buyers serious about booking early for 2020? Some discussions for cobalt supply agreements in 2020 started almost as soon as Glencore announced it would close its Mutanda mine at the end of the yea...Read More
An overview of the minor metals markets and their latest price moves.Read More
Fastmarkets outlines some of the key topics likely to dominate discussions when participants of the battery raw materials and electric vehicle supply chain gathers in Amsterdam this week.Are cobalt buyers serious about booking early for 2020? Some discussions for cobalt supply agreements in 2020 started almost as soon as Glencore announced it would close its Mutanda mine at the end of the yea...Read More
Despite concerns of low prices and poor demand, the aluminium market still has growth potential due to the automotive industry, McKinsey & Company's Benedikt Zeumer said at Fastmarkets' International Aluminium Conference held in Athens, Greece.The fastest growing underlying factor to global aluminium growth is the global automotive sector, Zeumer said. McKinsey's outlook does not indicate that the...Read More