The proposal by Hong Kong Exchanges & Clearing Ltd (HKEX) to buy the London Stock Exchange Group (LSEG) has raised a number of questions among metals market participants, most of whom are skeptical that the deal will go through during a time of political upheaval.HKEX's ?29.6-billion ($36.5-billion) proposal to acquire the LSEG was announced on Wednesday September 11, and comes seven years a...Read More
Eastern China's Shagang has raised the list prices for its rebar and wire rod booked in mid-September.The mill is selling its HRB400 16-25mm rebar at 3,820 yuan ($537) per tonne over the September 11-20 period, up 100 yuan per tonne from its...Read More
Key data from the pricing sessions in New York, London and Shanghai in the week ending Friday September 13.United StatesKey drivers Spot silicon fell below $1 per lb on the low end for the first time in three years in the United States, on excess supply and the undercutting of domestic material by overseas suppliers.Consumers are themselves said...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity's outright price fall by 2.6%.Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the close, while the red metal's closing price of $5,870 per tonne...Read More
The Turkish steel producers went quiet in the deep-sea scrap markets at the beginning of the current week, digesting the latest cargo transacted from the United States, sources said on Monday September 16.A steel mill in the Izmir region booked a US cargo at the end of last week, comprising 15,000 tonnes of HMS 1&2 (80:20) at $240 per tonne, 15,000 tonnes of shredded at $245 per tonne and 2,000 to...Read More
Nickel mining operations across four unspecified sites in the Philippines' Tawi-Tawi region will be halted indefinitely to facilitate the implementation of the country's Bangsamoro Responsible Mining law, Environment, Natural Resources and Energy Minister Abdulraof Abdul Macacua said on Monday September 16. The suspension will further reduce the country's declining nickel output, which fell by 16....Read More
Here are five Fastmarkets MB stories you might have missed on Monday September 16 that are worth another look.Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview.Newmont Goldcorp has suspen...Read More
Following a flip in global steel and ferrous trade flow trends last year caused by economic jitters in Turkey, trade defenses by the United States and production cuts in China, this year it is steel prices that are turning upside down. Hot-rolled coil (HRC) prices are now below rebar prices in a phenomenon rarely seen outside of the Chinese domestic markets. HRC import prices in Vietnam have...Read More
Asia's hot-rolled coil markets are now seeking bright spots after price falls in the region eased.Prices have rebounded in the past week in the key regional market China of while the monsoon season in India is approaching its end."It is possible that the price drops have stopped and the bottom has been reached," a buyer source in Vietnam told Fastmarkets on Friday September 13.Supply of Indian HRC...Read More
The three-month copper price on the London Metal Exchange was lower at the close of trading on Monday September 16, below nearby support levels, while a continued sell-off in nickel futures saw that commodity's outright price fall by 2.6%.Volumes traded in copper over the afternoon were moderate, with some 17,000 lots exchanged by the close, while the red metal's closing price of $5,870 per tonne...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
The seaborne coking coal market remained quiet on Monday September 16 despite the return of Chinese participants after a long weekend due to the Mid-Autumn Festival last Friday.Premium hard coking coal, fob DBCT: $148.15 per tonne, unchangedPremium hard coking coal, cfr Jingtang: $167.76 per tonne, unchangedHard coking coal, fob DBCT: $131.75 per tonne, unchangedHard coking coal, cfr Jingtang: $15...Read More
Turkish domestic scrap prices have gone down over the past seven days on weakening imported scrap values, sources said on Monday September 16.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was TRY1,400-1,575 ($245-276) per tonne on Monday, down from last week's TRY1,445-1,650 per tonne.Steel mills and a major scrapyard have decreased their buy...Read More
Improved sentiment in the ammonium paratungstate (APT) market continued in the week ended Friday September 13 ahead of the Fanya tungsten stock auction, while ongoing concentrates tightness in China supported a 2.6% price jump. Positive sentiment kept APT prices elevated, China domestic price rises Concentrate price moves up due to supply tightness Ferro-tungsten range widens on pick-...Read More
Here are five Fastmarkets MB stories you might have missed on Monday September 16 that are worth another look.Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview.Newmont Goldcorp has suspen...Read More
The active contract price for aluminum on the Shanghai Futures Exchange may rise as high as 15,000 yuan ($2,128) per tonne by the end of October 2019 on the back of tightening supply, market participants have told Fastmarkets.The most-traded November contract price for the metal started to rally at the start of September on a continuing decline in the total volumes of aluminium in stock, and reach...Read More
London Metal Exchange Week, the largest annual gathering of metals and mining figures in the world, is set to begin on Sunday October 27. Below is a list of the events and functions scheduled for the week. Please be aware that many events are private entry and admission is strictly by invitation only. Sunday 27 October 6:45pm - Marex Spectron Dinner, The Savoy Hotel, Strand, WC2R 0EZ Monday 28 Oct...Read More
Copper miner PT Freeport's export license for copper concentrates has been tripled by the Indonesian Energy and Mineral Resources Ministry for the March 2019-March 2020 period, Fastmarkets has learned. PT Freeport has been granted additional export quotas for copper concentrate from Indonesia, bringing annual export volumes to 700,000 wet metric tonnes (wmt) up from an initial quota of 198,282 wmt...Read More
Brazilian multi-metal and mining company Vale has announced plans to build a further two nickel smelters in Indonesia in joint ventures with China and Japan, the deputy chief executive officer of Vale Indonesia said in a Saturday September 14 news interview. The first scheduled smelter will be built in Pomalaa on Sulawesi Island, in a $2.8 million joint venture with Japanese multi-metal company Su...Read More
More Grasberg copper concentrates are being offered to the spot market after Freeport-McMoRan received extra export licenses from the Indonesian government to sell mined output overseas, the miner told Fastmarkets on Friday September 13. The extra quantities from the world's second largest copper mine have entered the spot copper concentrates market at a time of tight availability reflected in mul...Read More