Base metals traded on the London Metal Exchange broadly closed up at the afternoon kerb on Tuesday June 25, while a spate of short-covering meant healthy trading volumes drove gains across the majority of the complex.Marginal headway made in US-Sino trade negotiations, with US President Donald Trump and China's Xi Jinping set to meet at the G20 Summit in Japan this week, is supporting risk sentime...Read More
A summary of base metals premiums from across the globe for the week to Tuesday June 25.Please click...Read More
Australia's Sandfire Resources is to acquire Botswana, Africa-focused copper development and exploration company MOD Resources in a deal worth A$167 million ($116.38 million). The offer has been made on a share-to-share basis, with 0.0664 Sandfire shares to be offered for each MOD share held, the companies said a joint announcement through the Australian Stock Exchange on Tuesday Ju...Read More
Chrome ore prices dropped again in China and alloy prices weakened globally in the week ended Friday June 21 due to poor demand. Ore prices down for seventh week runningCharge chrome import prices weaken in ChinaAlloy prices dip in Japan, South KoreaEuropean alloy prices slumpUS market flat once again UG2 chrome ore prices in China slid for the seventh consecutive week on Friday after some suppli...Read More
Fastmarkets' pricing and research team answers some of the key questions raised during our web seminar, discussing recent price moves in the cobalt market and how industry developments might affect the market - and prices.If you missed it, follow this link to listen to the free recording.By what time do you estimate current excess cobalt supply to be absorbed? We expect this will happen by 2023-20...Read More
Ferro-silicon prices in China were stable in the week ended Friday June 21, extending a steady run in the market for a fifth consecutive week against firm Chinese futures prices and relatively limited availability in the physical market.In Europe, the market has fallen due to weak spot demand and an increasing number of quarterly deals done below ?,?1,000 ($1,139) per tonne, which has dragged down...Read More
Fastmarkets wishes to clarify the specification of the Vietnam steel scrap assessment, which is based on heavy melting scrap 1&2 of 80:20 quality.The name of this price, which from July 5 will have the symbol MB-STE-0783 exclusively associated with it, has been amended to steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne. The specifications for this price are as follows:Assessment: Steel...Read More
Fastmarkets' pricing and research team answers some of the key questions raised during our web seminar, discussing recent price moves in the cobalt market and how industry developments might affect the market - and prices.If you missed it, follow this link to listen to the free recording.By what time do you estimate current excess cobalt supply to be absorbed? We expect this will happen by 2023-20...Read More
Export prices for Chinese cold-rolled coil and hot-dipped galvanized coil rose for the first time since early April after the municipal government in northern China's steelmaking hub of Tangshan said steelmakers in the city would have to lower production by at least 20% until the end of July to reduce pollution.Prices in the upstream HRC market surged following the announcement, with Fastmarkets M...Read More
Fastmarkets proposes changes to the location specification of its northern China domestic hot rolled coil price assessment.The new location will be Tangshan instead of Beijing after market participants increased their focus on Tangshan's HRC prices. This amendment will allow Fastmarkets to consider more spot liquidity within its assessment of domestic HRC prices in north China.The consultation per...Read More
China's hot-rolled coil producers raised export prices on Tuesday June 25 amid continual gains in the domestic market.DomesticEastern China (Shanghai): 3,910-3,920 yuan ($568-570) per tonne, up 10-20 yuan per tonneNorthern China (Tianjin): 3,850-3,860 yuan per tonne, up 10-20 yuan per tonnePrices rose further during the day with more and more participants becoming more bullish about the market.The...Read More
Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More
Chinese vanadium pentoxide (V2O5) producers may be unable to achieve their scheduled production ramp-up plans in 2019 due to cost pressures stemming from the comparatively low V2O5 price so far this year and persistent stringent environmental inspections across the country, market sources told Fastmarkets MB. Many Chinese V2O5 producers planned to ramp up their operations in 2019, encouraged by ha...Read More
Northern China's domestic rebar prices continued to rise on Tuesday June 25 amid surging futures, though the eastern Chinese market held steady.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, up 30-40 yuan per tonneTraders in Shanghai kept prices flat despite rising futures in an attempt to secure more sales.B...Read More
Iron ore prices retreated further on Tuesday June 25 due to the expectation of falling demand amid restrictions on steelmakers in China's steel production hub of Tangshan.MB 62% Fe Iron Ore Index: $114.46 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Pilbara Blend Fines Index: $113.26 per tonne cfr Qingdao, down $2.31 per tonne. MB 62% Fe Iron Ore Index-Low Alumina: $115.71 per tonne cfr...Read More
Fastmarkets wishes to clarify the specification of the Vietnam steel scrap assessment, which is based on heavy melting scrap 1&2 of 80:20 quality.The name of this price, which from July 5 will have the symbol MB-STE-0783 exclusively associated with it, has been amended to steel scrap HMS 1&2 (80:20), cfr Vietnam, $/tonne. The specifications for this price are as follows:Assessment: Steel...Read More
Prices for imported billet in the United Arab Emirates weakened over the past week, in line with lower offers and a lack of demand, sources said on Tuesday June 25.Domestic rebar The domestic rebar market in the UAE was sluggish due to a drop in demand during the summer period. The UAE's largest producer, Emirates Steel, was offering rebar at 1,881 dirhams ($512) per tonne ex-works this week, whil...Read More
Northern China's domestic rebar prices continued to rise on Tuesday June 25 amid surging futures, though the eastern Chinese market held steady.Domestic Eastern China (Shanghai): 3,900-3,950 yuan ($567-574) per tonne, unchangedNorthern China (Beijing): 3,770-3,800 yuan per tonne, up 30-40 yuan per tonneTraders in Shanghai kept prices flat despite rising futures in an attempt to secure more sales.B...Read More
Chrome ore prices dropped again in China and alloy prices weakened globally in the week ended Friday June 21 due to poor demand. Ore prices down for seventh week runningCharge chrome import prices weaken in ChinaAlloy prices dip in Japan, South KoreaEuropean alloy prices slumpUS market flat once again UG2 chrome ore prices in China slid for the seventh consecutive week on Friday after some suppli...Read More
Ferro-silicon prices in China were stable in the week ended Friday June 21, extending a steady run in the market for a fifth consecutive week against firm Chinese futures prices and relatively limited availability in the physical market.In Europe, the market has fallen due to weak spot demand and an increasing number of quarterly deals done below ?,?1,000 ($1,139) per tonne, which has dragged down...Read More