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, 85,000 tonnes of 65% Fe Iron Ore Carajas, traded at $128.70 per tonne cfr China, bill of lading dated July 8.BHP, bilateral...Read More
Trading activity in the seaborne coking coal market was muted on Wednesday July 17 with Chinese buyers and global sellers digesting the implications of restrictions on imported coal at ports in China. Earlier this week, the Port of Caofeidian in Hebei province restricted customs declarations to only local end users, market sources said on Tuesday. This effectively bars traders from using the port...Read More
BHP expects to produce 73-79 million tonnes of metallurgical coal over the next year even as it plans major wash plant shutdowns for the current quarter.The mining major said on Wednesday July 17 that it produced 20.98 million tonnes of metallurgical coal in the April-June period, down 1.2% year on year amid lower wash plant yields.Its output for the 12 months ended June 30 totaled 74.5 million to...Read More
BHP expects its Western Australia Iron Ore operations to produce 273-286 million tonnes of the steelmaking raw material on a 100% basis over the next 12 months amid a significant maintenance program at the Port of Port Hedland, from which it ships its cargoes abroad."As part of this, a major car dumper maintenance campaign is planned for the September 2019 quarter, with a corresponding impact expe...Read More
Global alumina prices have plummeted over the past two months in June and July due to poor demand and a surplus of excess cargoes in the market.Alumina prices in Western Australia, Brazil and China are all down over 15% since May and close to their lowest level in over two years. This is a stark contrast to this time last year, when alumina prices were trading close to record highs following strik...Read More
Eastern China's domestic prices for hot-rolled coil continued to pick up strength on Wednesday July 17, while those in the northern region held steady.DomesticEastern China (Shanghai): 3,890-3,910 yuan ($566-569) per tonne, up 10 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, unchangedRising futures stimulated trading in the spot market in eastern China, resulting in more buyi...Read More
China's domestic rebar prices maintained their upward momentum on Wednesday July 17 amid rising futures. Domestic Eastern China (Shanghai): 3,980-4,010 yuan ($579-583) per tonne, up 10 yuan per tonneNorthern China (Beijing): 3,900-3,930 yuan per tonne, up 10 yuan per tonneSome buyers raised their procurement rates to replenish their inventories on seeing the gains in the futures market.End users m...Read More
Key data from Fastmarkets' Wednesday July 17 pricing session in Europe:Key drivers The ferro-titanium market moved down amid a decline in spot demand for ferro-titanium for the past couple of months in response to a weakening European steel market, which is likely to remain quiet over the summer. The ferro-titanium market is close to its floor, according...Read More
The following Fastmarkets minor metals prices changed on Wednesday July 17:Minor metalsAntimony max 100ppm Bi, in-whs Rotterdam $/tonne: $5,950-6,200 per tonne from $6,000-6,200Antimony MMTA standard grade II, in-whs Rotterdam, $/tonne: $5,800-6,000 per tonne from $5,900-6,150Cadmium 99.95% min, cif global ports, cents/lb: 105-115 per lb...Read More
A multi-year low in the cobalt metal price in China triggered the speculative buying witnessed over the week to July 12, which is likely to be followed by restocking activity in the spot market, Fastmarkets learned.Fastmarkets' assessment of the price for cobalt 99.8% Co min, ex-works China was at 210,000-230,000 yuan ($12.27-13.43 per lb, minus China VAT) per tonne on Friday July 12, down nearly...Read More
Trade negotiations between the United States and China following a meeting between the countries' leaders on the sidelines of the Group of 20 (G20) summit in Japan at the end of last month have not progressed as well as investors had hoped. Instead, relations between the world's two largest economies remain frosty following a report that China will sanction US firms that sell weapons to Taiwan. In...Read More
Import prices for stainless steel in East Asia rose over the week ended Wednesday July 17 after producers adjusted their asking prices upward in response to a rally in the price of nickel on the London Metal Exchange.Following seven consecutive days of gains after July 5, the price of nickel, 3 months, LME Daily Official, ended the official trading session on July 16 at a 2019 high of $13,960-13,9...Read More
Germany's Wieland Group has completed its previously announced acquisition of Global Brass & Copper (GBC), the company said in a statement on Tuesday July 16.Wieland, a supplier of semi-finished copper and copper alloy products, had announced in April this year it would acquire Schaumburg, Illinois-based GBC's outstanding shares for $44 apiece.GBC shares ceased trading on the New York Stock Exchan...Read More
Misplaced optimism seems to be driving gains in the London Metal Exchange’s three-month nickel price, especially amidst weak global economic growth and ongoing trade tensions between the United States and China; granted there is growing concern over nickel supply from Indonesia but this remains a long-term play.Fresh global economic jitters and escalating US-China trade tensions have negative...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were down unchanged in pre-opening trade. Index futures were virtually unchanged following release of economic news released at 8:30 AM EDT. Consensus for Weekly Jobless Claims was an increase to 215,000 from downwardly revised 208,000 last week. Actual was 216,000. Consensus for the July Philly Fed Index was an increase to 5.0...Read More
A summary of base metals premiums from across the globe for the week to Tuesday July 16.Please click...Read More
The London Metal Exchange three-month nickel price rose 2.9% on Tuesday July 16 to close above the $14,000-per-tonne resistance level.The LME three-month nickel contract closed at $14,065 per tonne, up $400 per tonne from the $13,665-per-tonne close on Monday.This is the first time nickel futures have surpassed the $14,000 mark since August 2018, with approximately 15,000 lots traded by 5pm o...Read More
First Cobalt Corp has agreed on a term sheet with Glencore AG, outlining the framework for a phased approach to recommission a cobalt refinery in Ontario, Canada, in less than a year with an expansion to 55 tonnes per day in 2021. The framework remains subject to a number of conditions and outline the key milestones to a long-term strategic relationship that could bring a reliable source of domest...Read More
Recylex' listing on Euronext Paris resumed at the opening of the stock exchange on Tuesday July 16 after the lead and zinc recycler announced its projected cash requirements for 2019, 2020 and 2021. Trading in European zinc and lead producer Recylex' shares was suspended on Monday July 8 at the company's own request following an unexplained 40% increase in the share price during the prior two days...Read More
The global market for refined zinc metal was in a deficit of 123,000 tonnes over the first five months of 2019, marking a 19.41% annual increase from 103,000 tonnes a year ago, the International Lead & Zinc Study Group (ILZSG) said. Refined zinc metal production contracted by 1% to 5.39 million tonnes in the first five months of the year compared with the same period of 2018. ILZSG reported produc...Read More