The benchmark secondary aluminium alloy A380.1 price in the United States fell to a new low on Monday August 5, with the market pressured by a handful of producers continuing to aggressively compete for sales amid slowing die-caster orders.Fastmarkets' price assessment for aluminium alloy A380.1, delivered Midwest, declined to 65-68 cents per lb on August 5, down from 66-70 cents per lb in the pre...Read More
Prices for some aluminium scrap grades have continued to move lower, particularly the mill grades, due to a decrease in primary metal on the London Metal Exchange, sources said on Monday August 5."I would say prices have dropped a penny or two below [for mill grades]. I do think that smelter prices are dropping again also," one aluminium scrap seller said. "I don't know that we have seen a bottom...Read More
A recovery in the exchange rate between the Chinese offshore yuan and the US dollar helped to steady base metal futures in London on Tuesday August 6, after heavy losses in preceding days, although the price of copper, the complex leader, remained on a downtrend.At $5,683 per tonne on Tuesday, the price of copper, 3 months, London Metal Exchange Daily Official, was down by $2 per tonne from the cl...Read More
Switzerland-based commodities trader Werco Trade has hired metal concentrates trader Theresa Nepote as part of a push to expand the company's commercial capabilities, it said on Tuesday August 6.Nepote will join Werco as a senior trader, enabling the company to diversify into additional markets, the company said. She most recently traded zinc, lead and copper concentrates at Bluequest Resources an...Read More
UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base nearby, sources close to the matter told Fastmarkets on Tuesday August 6.Market participants said that a fire broke out at a nearby military base and an explosion was heard, which led Rusal - the largest aluminium producer outside China - to suspend its operations at...Read More
Here are five Fastmarkets MB stories you might have missed on Tuesday August 6 that are worth another look.Lithium producer Orocobre and joint-venture partner Toyota Tsusho Corp have started construction on what will be the first lithium hydroxide plant in Japan. UC Rusal has suspended operations at Russia's biggest alumina plant in Achinsk due to a series of blasts at a Russian military base...Read More
Brazilian automotive output totaled 266,371 units in July, increasing by 8.4% from 245,641 units in the corresponding a year before, with the domestic market showing continued signs of strength, vehicle manufacturers' association Anfavea said on Tuesday August 6.New locally produced vehicle registrations totaled 218,492 units in the month, up by 14.9% compared with 190,151 units in July 2018. Grow...Read More
Prices for rebar imported into the United Arab Emirates have decreased over the past week, with demand only moderate although some deals were heard, sources said on Tuesday August 6.The lower price for imports was because market participants in the Middle East region will be celebrating the Eid al Adha religious holiday most of next week, so some deals were made at discount prices.Domestic rebarLo...Read More
The three-month copper price on the London Metal Exchange continued its downtrend over Monday August 5, closing below the nearby $5,700-per-tonne support level to reach its lowest settlement since June 2017, while nickel futures near $15,000 per tonne. Nickel continued to trade down over the day, closing at $5,685 per tonne after slipping to an intraday low of $5,640 per tonne this morning and fai...Read More
Tin's three-month price on the London Metal Exchange declined during morning trading on Monday August 5, maintaining its downward price action while nickel futures traded higher.Reaching an intra-morning low of $16,800 per tonne from a high of $17,025 per tonne, tin's futures price is down by some 1.3% on the day with just over 60 lots traded as of 9:05am London time. Selling pressure began t...Read More
Sentiment in financial markets continues to weaken following last week's collapse of US-China trade talks and US president Donald Trump's latest threat of tariffs on Chinese goods.Equities in Asia tumbled this morning, Monday August 5, and the yuan has dropped below seven to the dollar - the first time since 2008. Weakness in Asian currencies suggests wide-scale market unease. Gold price reaches a...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday August 2.ChinaKey drivers The Chinese silicon export market continued to remain stable week on week for the third consecutive week. The supply tightness and a sign of increased demand in the domestic market, amid resumed buying activity for August delivery from the secondary aluminum sector, have encouraged exporters t...Read More
Key data from the pricing sessions in Asia and Europe for the week ended August 2. ChinaKey drivers The price of antimony MMTA standard-grade II, ddp China, remained flat week on week due to sparse trading activity. Domestic antimony suppliers remained resolute in holding their offer prices firm, citing limited ore material at hand.Some domestic antimony consumers chose to sit on the sidelines aft...Read More
Turkish steel producers have not made any deep-sea bookings at the start of this week because of soft demand for finished long steel, sources said on Monday August 5.After the mills booked several deep-sea cargoes in the week ending July 26, they have backed out of the market."The mills in Turkey want to sell some [rebar] before resuming their...Read More
Domestic scrap prices in the Turkish market fell slightly over the past week due to weak demand for finished steel, sources said on Monday August 5.Several steel mills in the Izmir region reduced their buy prices for auto bundle scrap by around 20-55 Turkish lira ($4-10) per tonne over the past week.Long steel mill...Read More
Aluminium alloys from China will be subject to at least 20% in tariffs by September while for hundreds of steel products it will be at least 35% if the latest round of tariffs threatened against China take effect, sources indicated to Fastmarkets.That is because the new tariffs US President Donald Trump signaled against China will be on top of the Section 232 tariffs under an earlier act that cove...Read More
Sentiment in financial markets continues to weaken following last week's collapse of US-China trade talks and US president Donald Trump's latest threat of tariffs on Chinese goods.Equities in Asia tumbled this morning, Monday August 5, and the yuan has dropped below seven to the dollar - the first time since 2008. Weakness in Asian currencies suggests wide-scale market unease. Gold price reaches a...Read More
The downward trend in the benchmark cobalt price slowed in July, with some suppliers less eager to compete for sales while spot activity is slow, speculative buying spurs the domestic Chinese metal price and optimism filters through to the cobalt sulfate market.Price move Traders in the international market continued to focus on back-to-back business rather than restock in any meaningful way in Ju...Read More
Spot prices for cobalt metal moved up for the first time since late April on Friday August 2 after recent price declines prompted consumer and trader buying against a backdrop of stronger prices in China. Fastmarkets' benchmark standard-grade cobalt price, in whs Rotterdam rose 1.4% to $12.20-13 per lb on August 2. Prices had moved to $12.10-12.75 per lb on July 31, widening out from $12.30-12.65...Read More
Trade log for cobalt sulfate in China including transactions, bids and offers reported to Fastmarkets. Fastmarkets MB prices Click here for Fastmarkets' price assessment for cobalt sulfate, Co 20.5% basis, China ex-works, yuan/tonne Click here for Fastmarkets' price assessment for the cobalt sulfate, Co 20.5% basis China ex-works, adjustment...Read More