The three-month nickel price traded on the London Metal Exchange approached $16,000 per tonne on Wednesday August 28 morning, trading around $15,970 per tonne during the morning session.LME base metals, despite holding modest gains, are expected to follow a lackluster trajectory today while they continue to track the global equities markets, but sources hope that the three-month nickel contract wi...Read More
The drone sound from the markets has not changed - no progress on United States-China trade talks, continued economic headwinds and various simmering geopolitical concerns.The fact there is more central bank and government talk about monetary easing and the need for stimulus highlights the far from bullish situation the global economy is in and that is reflected in market sentimentAsian equity mar...Read More
Base metals prices on the Shanghai Futures Exchange were broadly under pressure during morning trading on Wednesday August 21, with market sentiment deteriorating amid negative headlines surrounding the United States-China trade dispute. On Tuesday, US Secretary of State Mike Pompeo said that China's Huawei Technologies and other Chinese companies pose a threat to national security and that the US...Read More
An overview of the minor metals markets and their latest price moves.Read More
The following Fastmarkets minor metals prices changed on Wednesday August 21:Minor metalsAntimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,700-6,000 per tonne from $5,750-6,000Antimony MMTA standard grade II, ddp China, yuan/tonne: 36,500-37,500 yuan per tonne from 36,500-38,000 yuanCadmium 99.95% min,...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 4 points in pre-opening trade.Index futures were virtually unchanged following release of the Weekly Initial Jobless Claims report. Consensus was 216,000 versus revised 221,000 last week. Actual was.209,000Canadian Imperial Bank of Commerce (CM $99.50 Cdn) is expected to open higher after releasing higher than consens...Read More
A summary of base metals premiums from across the globe for the week to Tuesday August 20. Please click...Read More
The three-month nickel price on the London Metal Exchange continued to fall on Tuesday August 20, ending the day down by 0.3% at the afternoon kerb to $15,860 per tonne, compared with Monday's close at $15,920 per tonne.The LME's nickel inventory volumes stayed flat during the day's trading. The September/three-month spread was in a backwardation of $40 per tonne and the cash/three-month spread in...Read More
Namibia-based tin mining company Afritin Mining has begun mining in the Erongo district of Namibia, producing its first batch of tin concentrates from its Uis project, while the company also signed a 12-month offtake agreement with Thailand Smelting and Refining Co Ltd (Thaisarco). The Uis tin mine is situated in the Cape Cross-Uis tin pegmatite belt, an expansive mineralisation zone located in Na...Read More
The development of the Kamoa-Kakula copper mine in the Democratic Republic of the Congo (DRC) will receive a financial boost following a second major strategic equity investment by China's Citic Metal in Canadian mining company Ivanhoe Mines.The mine is jointly owned by Ivanhoe Mines, Citic Metal and China's Zijin Mining.The Canadian $612-million ($459-million) investment brings Citic Metal's inve...Read More
Cobalt prices have risen by more than 25% since Glencore announced it would close its Mutanda mine and in doing so bring forward expectations of a shortfall in cobalt supply. But with other projects ramping up or in the pipeline, stockpiles to be worked through, and a short-term approach to raw materials procurement, Chinese battery-related buyers are skeptical they will be affected by tightness i...Read More
Ahead of Fastmarkets' Battery Materials Europe conference in Amsterdam, find out what our industry experts think are the key drivers in the market and what's on the horizon. Fastmarkets will host a free web seminar on Wednesday September 18 at 3pm London time to discuss recent market moves in the battery raw materials sector. Click here to register for the webinar. Date Wednesday September 18, 201...Read More
Demand for deep-sea scrap in Turkey remained sluggish because of the weak markets for finished long steel and billet, sources said on Tuesday August 20.There were only a few mills in the market looking to book scrap this week, while many other mills were quiet, and had halted or cut production, the sources said."I heard that three steel mills were looking for deep-sea material today," a Turkish mi...Read More
Concerns about weak economic data, geopolitical headwinds and the risk of a slow slide toward global recession are dominating market sentiment; short-term relief may come from more concerted central bank stimulus, but the real cure will only likely come from a new trade deal.Equities and bond markets will no doubt react positively to easier monetary policy, but the metals are unlikely to be hoodwi...Read More
Cobalt prices have risen by more than 25% since Glencore announced it would close its Mutanda mine and in doing so bring forward expectations of a shortfall in cobalt supply. But with other projects ramping up or in the pipeline, stockpiles to be worked through, and a short-term approach to raw materials procurement, Chinese battery-related buyers are skeptical they will be affected by tightness i...Read More
Ahead of Fastmarkets' Battery Materials Europe conference in Amsterdam, find out what our industry experts think are the key drivers in the market and what's on the horizon. Fastmarkets will host a free web seminar on Wednesday September 18 at 3pm London time to discuss recent market moves in the battery raw materials sector. Click here to register for the webinar. Date Wednesday September 18, 201...Read More
Prices for most flat steel products imported into the United Arab Emirates and Saudi Arabia decreased on lower offers heard in the week ended Tuesday August 20, with demand yet to recover after the Eid al-Adha religious holiday last week.The market was expected to improve later in the month, when the holiday season comes to an end.UAEOffers on imports of hot-rolled coil (HRC) from China and Japan...Read More
The principal flat steel suppliers to Russia's Central Federal District around Moscow kept their prices unchanged this week despite a slowdown in demand, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was unchanged at 45,100-45,500 roubles ($676-681) per tonne on Monday August 19, including 20% VAT. "Mills are citing pla...Read More
The European Commission (EC) proposed some adjustments to the existing safeguard measures for steel product imports in Europe to the World Trade Organization (WTO) on August 14, Fastmarkets has learned.The definitive safeguard mechanism already in place increases the level of tariff-free quotas for each product category by 5% annually. The first liberalization took place on July 1, 2019, which was...Read More
Prices for steel rebar and billet in the United Arab Emirates have remained stable over the past week, with demand poor after the Eid al-Adha religious holiday last week, sources said on Tuesday August 20.Market participants believed that demand would improve after the UAE's biggest producer, Emirates Steel, announced its new rebar price, which it usually does on the 20th day of each month.Domesti...Read More