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...Read More
The cobalt price will increase to more than $15 per lb in the near term following Glencore's announcement that it will shut its Mutanda operation by the end of the year, according to BMO Capital Markets managing director of commodities research Colin Hamilton. The cobalt market reacted swiftly to the announcement of the closure on Wednesday August 7 when the trader-miner said Mutanda would be...Read More
The spot price for gallium in China's domestic market edged up on Wednesday August 7 after suppliers were unwilling to sell cargoes below 1,000 yuan ($142) per kg in response to announced production halts by major producers in the country.Fastmarkets assessed the price of gallium 99.99% Ga min, in-whs China at 1,000-1,020 yuan per kg on Wednesday, narrowing upward by 10 yuan per tonne from 990-1,0...Read More
South Korea has stepped up radiation checks on Japanese ferrous scrap imports amid rising political and economic tensions, increasing the likelihood of weaker demand and port congestion in South Korea."South Korean inspectors have been boarding every single vessel transporting Japanese ferrous scrap and taking long periods of time to carry out very strict radiation checks," a source at a Japanese...Read More
U.S. equity index futures moved lower this morning. S&P 500 futures were down 16 points in pre-opening trade. Index futures responded to continuing weakness to the Chinese Yuan.Index futures moved slightly lower following release of the U.S. July Producer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.1% in June. Actual was an increase of 0.2%. Excluding food...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 7.Please click...Read More
Nickel's three-month price on the London Metal Exchange rallied by around 3% after the close of trading on Wednesday August 7, reaching a year-to-date high of $15,500 per tonne in what market participants labelled a broadly technical move.The metal's three-month price settled at $14,810 per tonne by the 5pm close on Wednesday, but was subject to a sudden bout of fresh buying at 5:30pm London time,...Read More
The weaker aluminium premium in the US Midwest reduced the arbitrage opportunities between Southeast Asian warehouses over July, Fastmarkets learned.The aluminium premium in the United States continued to dip into August as well, hitting its lowest since last March.Fastmarkets' assessment of the monthly average midpoint for the aluminium P1020A premium, ddp Midwest US was at $401.02 per tonne...Read More
Glencore has further cut its copper guidance for 2019 amid a slide in the red metal price, citing a slower-than-expected ramp-up in African copper operations, the trader-miner said on Wednesday August 7. Glencore has reduced its 2019 full-year copper guidance to 1.4 million tonnes, according to its half-year results report released on Wednesday. The reduction comes from a 50,000-tonne cut in the o...Read More
Key data from Fastmarkets' Wednesday August 7 pricing session in Europe:Key drivers Ferro-titanium suppliers increase offer prices, with the range moving slightly higher at the top end, although overall business conditions are quiet given the time of year. At present there is tight availability on a spot basis and an increase in buying inquiries for August and September, although consumer demand i...Read More
Ferro-chrome market conditions will remain challenging in the near term due to oversupply and macroeconomic factors, Glencore warned on Wednesday August 7.The trader-miner noted an average charge chrome price of 81 cents per lb in the first half of 2019, referencing Fastmarkets' ferro-chrome index 50% Cr import, cif Shanghai, $/Ib contained Cr, down by around 16% year on year.The index has held at...Read More
Glencore's decision to shut its Mutanda copper-cobalt mine and reduce the production guidance for its Katanga cobalt asset, both in Democratic Republic of Congo, spurred producers and consumers to look for higher spot prices toward the end of Fastmarkets' pricing session on Wednesday August 7.Fastmarkets' benchmark price for cobalt, standard grade, in whs Rotterdam, rose by 4% to $12.25-13.95 per...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
We have long held the view that there is a race against time between the trade disputes tipping the global economy toward recession and a trade deal spurring growth while businesses restock as their confidence recovers. For now, the slip toward recession seems to be winning. Equities in Asia were mixed on Wednesday August 7 after a mixed performance in western markets on Tuesday, but more central...Read More
Cobalt market participants expect a further uptick in cobalt hydroxide payables, following the news that Glencore intends to temporarily shut down its Mutanda project in Democratic Republic of Congo (DRC), Fastmarkets learned at Antaike's Battery Materials Conference in Guiyang, southwest China, being held August 7-8.But the slow response of the downstream battery sector may hinder any immediate s...Read More
Cobalt prices in the Chinese market, including cobalt metal and sulfate, rose quickly on Wednesday August 7, with sentiment strengthening after concerns of near-term supply surplus eased to a large extent.Earlier in the day on August 7, Glencore announced it will shut its Mutanda copper-cobalt mine in the Democratic Republic of the Congo (DRC) by the end of 2019 for care and maintenance, mainly as...Read More
Glencore will shut its Mutanda copper-cobalt mine in the Democratic Republic of the Congo (DRC) by the end of 2019 due to slumping cobalt prices, the trader-miner announced on Wednesday August 7.The asset will be placed on care and maintenance in a decision the company said "reflects its reduced viability in the current market environment, primarily in response to low cobalt prices." Glencore...Read More
Domestic market activity for hot-rolled coil (HRC) in the EU has remained slow over the past week, with no change in prices, sources told Fastmarkets on Wednesday August 7.Demand was expected to be almost nil in August due to the seasonal slowdown.Fastmarkets' weekly price assessment for steel HRC, domestic, exw Northern Europe, was stable at...Read More
A slight increase in trading activity in northern China led to prices for hot-rolled coil edging up on Wednesday August 7, while those in the eastern region were supported by a trading spurt in the latter half of the day.DomesticEastern China (Shanghai): 3,690-3,700 yuan ($524-525) per tonne, unchangedNorthern China (Tangshan): 3,740 yuan per tonne, up 10 yuan per tonneA Shanghai-based trader said...Read More
Export prices for Chinese plate dipped in the past week on thin end-user demand and a depreciating yuan.Fastmarkets' price assessment for September/October shipments of steel heavy plate export, fob China main port was $505-510 per tonne fob for the week ended Tuesday August 6, down $10 per tonne from a week earlier.Market sources said demand was very thin in the wake of an escalating of tensions...Read More