The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials.Latest transactions: iron oreIron oreVale, Global Ore, 170,000 tonnes of 62% Fe Brazilian Blend fines, traded at the September...Read More
Prices for seaborne cargoes of low-ash, low-sulfur coking coal in the second-tier segment continue to find support from sustained interest among Chinese buyers.A cargo of top-quality materials in the segment was traded at $166-167 per tonne fob Australia, sources told Fastmarkets on Wednesday July 24.Market participants in China reiterated that a tight supply of good-quality second-tier materials...Read More
Vale will increase the supply of its flagship Brazilian Blend fines (BRBF) after receiving authorization to bring more of its suspended iron ore mining operations come back online.The Brazilian miner will partly resume dry processing operations at its 13-million-tonne-per-year Vargem Grande Complex within 24 hours, with the National Mining Agency's authorization coming five months after a suspensi...Read More
Brazilian miner Vale has reduced its iron ore pellet output guidance for 2019 to 45 million tonnes, from the previous 60 million tonnes, following maintenance and regulatory plant stoppages, the company said in its production report on Monday July 22.Pellet plants in the company's southern system had to stop operations because of a decision from Brazilian mining agency ANM, following a tailings da...Read More
Fastmarkets' zinc premium, dp fca Italy, rose in the week to Tuesday July 23 amid livelier spot activity following a recent zinc cash/three-month spread contango, while zinc and lead premiums in the rest of Nothern Europe, Asia and the United States were unchanged on weak demand. The arbitrage for zinc continued to stay in negative territory throughout July, dampening spot trading interest in Chin...Read More
China's hot-rolled coil sellers cut their prices on Wednesday July 24 amid weak demand, although some participants believe a rebound could take place in days due to ongoing production curbs in the northern region.DomesticEastern China (Shanghai): 3,830-3,850 yuan ($557-559) per tonne, down 50 yuan per tonneNorthern China (Tianjin): 3,830-3,840 yuan per tonne, down 20 yuan per tonneSpot prices fell...Read More
An accumulation of high-grade copper scrap in the United States, following China's recent embargo of the material, has led to a drop in the US copper cathode premium range for the first time in a month. Elsewhere, positive forward spreads on the London Metal Exchange and ample availability kept Shanghai and Rotterdam premiums steady. Scrap build-up causes US cathode premium to widen downward Shang...Read More
China's rebar prices fell on Wednesday July 24 amid news that Vale was resuming operations at one of its iron ore complexes, which would raise supply of the steelmaking raw material. Domestic Eastern China (Shanghai): 3,920-3,960 yuan ($570-575) per tonne, down 40-50 yuan per tonneNorthern China (Beijing): 3,880-3,910 yuan per tonne, down 20 yuan per tonneVale, the world's biggest iron ore produce...Read More
Three-month prices across the increasingly macro-sensitive base metals complex on the London Metal Exchange were broadly up during morning trading on July 24 in anticipation of a trade meeting between the United States and China.But market skepticism on the finality of a trade agreement continues to pervade the market despite bullish assertions made by US president Donald Trump that China is looki...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 24:Minor metalsCobalt standard grade, in-whs Rotterdam, $/lb: $12.35-12.70 per lb from $12.55-12.90Cobalt sulfate 20.5% Co basis, adjustment to...Read More
German steelmaker ThyssenKrupp approved investment funds to build a 230,000 tonne per year chromium coating line for packaging steel at its Rasselstein site in Andernach, western Germany, it said late in the week ending on July 19.The new coating line will be a replacement for the current line, following a change in European Union (EU) regulations, with production capacity remaining approximately...Read More
A summary of Antofagasta's production results for the first half of 2019.IN BRIEF: First-half copper production of 387,300 tonnes was up 22.2% year on year because of higher throughput and grades at most operations, particularly at Centinela, where output rose by 36.8% to 141,900 tonnes. Production at the flagship mine Los Pelambres was up 13.4% year on year at 180,400 tonnes. First-half moly...Read More
Hopes that a US-China trade deal may be moving a step closer have given equities and US bond yields a slight boost this morning, Wednesday July 24, but the metals have not followed.Further evidence of slowing growth with disappointing US data out on Tuesday, which bodes ill for today's flash manufacturing purchasing managers' index (PMI) data, are no doubt weighing on sentiment.The International M...Read More
Fastmarkets is proposing changes to the specifications of its price assessments for stainless steel cold-rolled coil, Asia grade 304 (2mm), cif East Asian port, $/tonne and stainless steel hot-rolled coil, Asia grade 304, cif port East Asia, $/tonne.The proposed amendments to the location and quality of product to be assessed are made in response to changing market conditions. This will enable Fas...Read More
There is some optimism in the markets because US-China trade talks are on the agenda again and expectations are running high for dovish talk from the European Central Bank (ECB) at its meeting later on Thursday July 25.Manufacturing purchasing managers index (PMI) data out on Wednesday was generally negative, apart from a pick-up in Japans figure.Asian equities are showing strength wit...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 4 points in pre-opening trade. Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims is an increase to 219,000 from 216,000 last week. Actual was 206,000. Consensus for June Durable Goods Orders was an increase of 0.5% versus a drop of 1.3% in...Read More
* GRAPHIC-2019 asset returns:* Tin price hits three-year low (Updates with closing prices, date for U.S-China talks) By Pratima Desai LONDON, July 24 (Reuters) - Copper prices rose on Wednesdayas news that U.S. officials would travel to China next week toresume trade talks helped to boost sentiment in industrialmetals markets under pressure from concerns over growth anddemand. Benchmark copper on...Read More
Tin's three-month price on the London Metal Exchange fell by some 2% at the close of trading on Tuesday July 23, slipping to a fresh low of $17,555 per tonne over the day's trading - the lowest level since 2016 - while copper futures failed to close above the nearby $6,000-per-tonne resistance level. Turnover was moderately light across the day's trading, with copper's 11,700 lots leading the comp...Read More
Norsk Hydro's Alunorte alumina refinery has reached 80-85% utilization after the Brazilian government lifted a production embargo against the facility in May.The Norwegian aluminium producer announced on Tuesday July 23 that a continued ramp-up in production at its facilities in Brazil has been successful. Capacity utilization at Alunorte, located in the northern Brazilian state of Par??, is expec...Read More
Nickel's three-month price on the London Metal Exchange was higher during morning trading on Tuesday July 23, continuing its upward trajectory above $14,300 per tonne, while tin's three-month price slipped to just over $17,630 per tonne - close to its lowest level since 2016. Turnover was moderate over the morning session, with European trading hours opening to some 4,000 lots of copper and 3,500...Read More