With an international career that has spanned senior positions with some of the biggest companies and mines for non-ferrous metal production, Sonami president Diego Hernandez tells Andrea Hotter about the multiple roles that led him to the pinnacle of copper mining.Diego Hernandez was in his mid-20s when he learned a very important lesson about negotiating. The young mining executive, who would go...Read More
Fastmarkets' alumina index fob Australia fell below $340 per tonne on Friday June 14 due to pressure from high availability of unplaced cargoes and low aluminium prices. The daily fob Australia alumina index declined to $339.65 per tonne - its lowest since August 24, 2017 on Friday June 14, down from $341.52 per tonne day on day and down from $349.39 per tonne week on week.Key drivers:The most rec...Read More
Fastmarkets has amended its weekly publication day of five price assessments, including two nickel pig iron (NPI) price assessment, two laterite nickel ore price assessment and one nickel sulfate price assessment effective from today on June 14. Fastmarkets has amended the publication day for the following price assessments after an initial one-month consultation period that concluded it was best...Read More
The European charge and high-carbon ferro-chrome benchmark settlement for the third quarter of 2019 has dropped 16 cents to a three-year low of $1.04 per lb. The price is announced every quarter by Merafe Resources, which operates a chrome joint venture with trader-miner Glencore in South Africa.The benchmark is a forward-looking price for the coming quarter and the latest settlement reflects incr...Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday June 14 in an illiquid market.Fastmarkets assessed the premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms at $340-360 per tonne on Friday. It has been at that level since April.Bearish sentiment stemming from the European automotive sector...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Primary aluminium foundry alloy premiums in Europe were steady on Friday June 14 in an illiquid market.Fastmarkets assessed the premium for silicon 7 aluminium wheel alloys over London Metal Exchange cash prices delivered to the Ruhr region with 30-day payment terms at $340-360 per tonne on Friday. It has been at that level since April.Bearish sentiment stemming from the European automotive sector...Read More
Global ferrous scrap prices were mostly on a downward trend in the week ended Friday June 14 due to ample supply from key exporters and limited demand from buyers.While there were numerous bookings into the key Turkish market, the transactions were made at falling prices. This led to buyers in Asia shying away from purchasing cargoes because they expected the price downtrend to continue. Turkey bu...Read More
German steelmakers have settled their monthly scrap contracts for June at prices that are either unchanged or with a decrease of ?,?5 ($6) per tonne month-on-month, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was ?,?260-270 ($293-305) per tonne delivered on Friday June 14, compared with ?,?260-275 per tonne delivered in mid-May.Mills in the...Read More
Three-month base metals prices on the London Metal Exchange were mixed so far on Friday June 14, reflecting deteriorating sentiment in broader risk markets amid the recent uptick in tensions in the Middle East and while global trade tensions overhang.Military officials from the United States have released a video of what they say shows Iran's Revolutionary Guard removing an unexploded limpet mine...Read More
Key data from the June 14 pricing session in London Key drivers- Cobalt prices continue to drift lower, with sellers open to cheaper bids to achieve sales early in what is expected to be a quiet few months for buying. Demand is slow and potential buyers are happy to hold out for expected lower prices in the coming weeks. Some sources have reported receiving minimum call-offs...Read More
China's domestic lithium market remained weak over the week ended June 14, with lithium hydroxide prices drifting lower while the lithium carbonate market remained flat.Downstream buyers were cautious of buying more material and were waiting for a clearer price direction, while the lithium hydroxide market moved down due to poor demand and after some producers lowered prices to boost sales.Battery...Read More
Domestic prices for hot-rolled coil (HRC) in Turkey have been under pressure from slow trading, sources told Fastmarkets on Friday June 14.Buyers have been insisting on lower domestic prices, according to market sources. In addition, HRC buyers have been reported to have sufficient volumes of material in stock.Fastmarkets' weekly price assessment for Turkish domestic HRC was $520-530 per tonne ex-...Read More
Hot-rolled coil (HRC) import prices in India have fallen by $20 per tonne this week, with importers booking Japan- and South Korea-origin material for shipments in August, Fastmarkets heard on Friday June 14.The Indian HRC import price was assessed by Fastmarkets at $520-535 per tonne cfr Indian ports on Friday, down by $10-20 per tonne...Read More
Eastern China's hot-rolled coil prices weakened further on Friday June 14, with rising inventory levels putting pressure on sellers.DomesticEastern China (Shanghai): 3,800-3,810 yuan ($549-550) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,780-3,790 yuan per tonne, unchangedThe domestic market remained inactive despite sellers making price cuts.A Tianjin-based trader pointed out tha...Read More
Domestic rebar prices in Poland have moved down this week due to the negative impact of competitive import offers, sources told Fastmarkets on Friday June 14.Fastmarkets' weekly price assessment for domestic 12mm B500B-grade rebar in Poland was 2,000-2,120 zloty ($530-562) per tonne ex-works on June 14, compared with 2,100-2,150 zloty per tonne ex-works a week earlier.The assessment reflects...Read More
European long steel mills remain under pressure from weakening ferrous scrap prices and negative market sentiment, the International Rebar Producers & Exporters Association (Irepas) said in its latest short-range outlook on Friday June 14.While "the announcement of price increases by ArcelorMittal for long products, and the imminent maintenance at European mills could help to increase lo...Read More
China's crude steel and finished steel output both increased on a year-on-year basis in May amid strong demand and healthy profit margins.The country produced 89.09 million tonnes of crude steel last month, up 10% compared with May 2018, according to data released by National Bureau of Statistics on Friday June 14. That number is 5% higher than April's 85.03 million tonnes. Finished steel output t...Read More
Global ferrous scrap prices were mostly on a downward trend in the week ended Friday June 14 due to ample supply from key exporters and limited demand from buyers.While there were numerous bookings into the key Turkish market, the transactions were made at falling prices. This led to buyers in Asia shying away from purchasing cargoes because they expected the price downtrend to continue. Turkey bu...Read More
German steelmakers have settled their monthly scrap contracts for June at prices that are either unchanged or with a decrease of ?,?5 ($6) per tonne month-on-month, sources told Fastmarkets.Fastmarkets' monthly price assessment for domestic grade-E3 scrap in Germany was ?,?260-270 ($293-305) per tonne delivered on Friday June 14, compared with ?,?260-275 per tonne delivered in mid-May.Mills in the...Read More