China imported 7,938 tonnes of antimony ore and concentrate in April, marking year-on-year and month-on-month increases of 96% and 134% respectively, according to official, but unconfirmed, data seen by Fastmarkets MB.Last month's total compares with 3,399 tonnes in March and 4,044 tonnes in April 2018Russia was the top supplier of China's imported antimony ore and concentrate last month, shipping...Read More
Opportunities to lock in long-term sales of cobalt hydroxide - and diversify a customer base outside of China in the process - are too appealing to pass by in a market still feeling the effects of a ramp-up in intermediates supply. Earlier this week, Umicore and Glencore announced a long-term revolving agreement for the latter to supply cobalt hydroxide to the former's global operations. This foll...Read More
European molybdenum prices rose this week, with price gains in molybdenum oxide pulling up the alloy market, although the rally may be limited in the near term given muted demand in the stainless steel sector, trading sources said. Around 270 tonnes of oxide was reported traded in first half of the week to Wednesday May 29, with nearly half that volume done in Europe and the rest in Busan, South K...Read More
Domestic stainless steel prices in China widened over the past week amid a mixed outlook among market participants. The Fastmarkets MB domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 13,950-14,400 yuan ($2,018-2,083) per tonne including value-added tax for the week ended Wednesday May 29, compared with 14,000-14,300 yuan per tonne a week earli...Read More
Cambodia's Sihanoukville Special Economic Zone is over a thousand miles from China, but you would not know it to be there.Cut into a landscape of thick jungle and paddy fields, the area - which touts itself as a landmark Belt and Road project - is a mass of freshly built white factory buildings emblazoned with names such as Fangyuan Factory, Qingdao Baoli Textile and Jinchenyuan.There runs Kinnric...Read More
U.S. equity index futures are lower this morning. S&P 500 futures were down 29 points in pre-opening trade. Index futures responded to news that the U.S. has proposed a 5% tariff on Mexican imports on June 10th unless Mexico takes action to reduce illegal immigration. U.S. automaker stocks with Mexican production facilities quickly responded to Mexican tariff news. General Motors dropped $1.79...Read More
The three-month tin price on the London Metal Exchange decreased by more than 2% at the close of trading on Wednesday May 29, with volumes traded reaching their highest level since 2017 while spread tightness in the metal's forward curve began to ease.Some 850 lots of tin were exchanged by the close on Wednesday afternoon, with tin's three-month price dipping 2.6% from an intraday high of $19,215...Read More
The Chinese government has started inspections ahead of issuing ferrous and non-ferrous metal scrap import licenses for the second half of 2019 to avoid a potential month-long disruption of all scrap imports, the country's Ministry of Ecology and Environment (MEE) said on Wednesday May 29. The environmental ministry aims to issue the first batch of licenses in late June - right before the launch o...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday May 29.Please click...Read More
Here are five Fastmarkets MB stories you might have missed on Wednesday May 29 that are worth another look.The South African Transport and Allied Workers' Union was due to start a country-wide port strike at 17.30 local time on Wednesday May 29. Although the union claimed the action will bring South Africa's economy "to a standstill," manganese and chrome market sources said it was too early...Read More
An overview of the noble alloys markets and the reasons for any price moves.Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More
The Chinese government has started inspections ahead of issuing ferrous and non-ferrous metal scrap import licenses for the second half of 2019 to avoid a potential month-long disruption of all scrap imports, the country's Ministry of Ecology and Environment (MEE) said on Wednesday May 29. The environmental ministry aims to issue the first batch of licenses in late June - right before the launch o...Read More
Key data from the Wednesday May 29 pricing session in Europe.Key drivers - The European ferro-titanium price moved down week on week, dropping on profit-taking after six weeks of stability.- Some sources reckon supply worries on production cuts should support prices at the $5-per-kg level in the near term, although others reported prices below that point for third-quarter deliveries. One dealer re...Read More
Turkish deep-sea scrap import prices made a downward correction on increased supply after the recent buying spree by the country's steel mills, sources said on Wednesday May 29.A steel producer booked a Baltic Sea cargo late on May 28, comprising 25,000 tonnes of HMS 1&2 (80:20) at $306 per tonne and 1,000 tonnes of bonus at $316 per tonne cfr.As a result of this transaction, the daily scrap indic...Read More
Markets remain jittery while US-China trade war rhetoric escalates with the latter raising the possibility of including rare earth minerals in their trade negotiations. Equity markets have sold off and bond yields have fallen as investors move into havens.Trade war rhetoric escalatesEquites sell off on Tuesday, while Treasury yields fall furtherMarket now indicating increased likelihood of two US...Read More
Fastmarkets looks at recent developments in the lithium industry and key topics likely up for discussion at the 11th Lithium Supply & Markets conference in Santiago, Chile, on June 10-12.Last year, before the 10th Lithium Supply & Markets conference in Las Vegas, various delegates expressed their concerns about possible global oversupply of lithium compounds and the impact of this on lithium price...Read More
Switzerland-headquartered miner-trader Glencore has reached a long-term revolving agreement to supply Belgian battery-materials manufacturer Umicore AS with cobalt hydroxide, Glencore said on Wednesday May 29. Glencore will supply materials from its Katanga and Mutanda mining assets located in the Democratic Republic of Congo (DRC) to Umicore's cobalt refineries globally, including the Kokkola ref...Read More
Domestic prices for hot-rolled coil (HRC) in the EU have been stable over the past week while steelmakers sought higher prices and buyers resisted any rises, market sources told Fastmarkets on Wednesday May 29.Some European flat steel producers, including ArcelorMittal and Marcegaglia, have increased their official offers of HRC while others have stopped giving additional discounts to buyers."If m...Read More