Some mobile phone producers have started to develop devices that support the fifth generation (5G) network, but long-term support for cobalt demand from 5G phones will be limited, Fastmarkets heard on the sidelines of a cobalt conference in Hong Kong this week.There was likely to be an instant boost for cobalt demand, however, when many consumers replaced their 4G mobile phones with those enabled...Read More
Minor metals and ferro-alloys trader Mart?-n N????ez has joined Swiss commodity trading house ArrowMetals after spending five years at UK-based TMT Metals Holdings (TMT), Fastmarkets learned on Wednesday May 15.N????ez joined TMT in April 2014 where he traded ferro-alloys, non-ferrous metals and...Read More
The following Fastmarkets minor metals prices changed on Wednesday May 15:Minor metalsAntimony MB Chinese free market MMTA standard grade II, yuan/tonne: 40,000-41,500 yuan per tonne from 42,000-43,000 yuanBismuth MB free market, $/lb: $3.30-3.50 per lb from $3.30-3.70Cobalt MB China...Read More
Follow up on this year's Fastmarkets Battery Materials Conference in Shanghai with this comprehensive downloadable PDF that brings together the full coverage from the event.Our Battery Materials Conference 2019 in Shanghai in April was one of the many industry-leading events we curate, organize and run, bringing together the biggest OEMs, battery manufacturers, cathode makers and chemical companie...Read More
Import prices for stainless steel in East Asia declined over the week ended Wednesday May 15 because of low buying interest in a bearish market that followed the escalation of trade tensions between China and the United States.China has announced that it will increase duties on $60 billion-worth of US goods from June 1, in a retaliatory action after the latter country raised tariffs on $200 billio...Read More
The following Fastmarkets UK non-ferrous scrap and foundry ingot prices changed on Wednesday May 15:Aluminium scrapLoose old rolled cuttings: ?650-675 per tonne from ?660-680Cast wheels: ?1,080-1,100 per tonne from ?1,100-1,130Commercial turnings: ?550-580 per...Read More
Prices for mesh-quality wire rod in Europe fell this week following a drop in finished mesh product prices and due to buyer hesitance, sources told Fastmarkets on Wednesday May 15. Fastmarkets' weekly domestic price assessment for mesh-quality wire rod in Northern Europe fell to ?,?515-535 ($578-600) per tonne delivered on Wednesday, down ?,?10-15 week on week from ?,?525-550 per tonne delive...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures moved slightly higher following release of U.S. economic news at 8:30 AM EDT. Consensus for Weekly Jobless Claims was 220,000 versus 228,000 last week. Actual was 212,000. Consensus for April Housing Starts was 1.205 million units versus a revised 1.168 million units in Mar...Read More
A summary of base metals premiums from across the globe for the week to Tuesday May 14.Click on...Read More
Prices in the London Metal Exchange base metals complex became firmer on Tuesday May 14 when it was realized that the effects of proposed Chinese tariffs side-stepped the base metals to focus on imports of minor metals and ferro-alloys.The duties would be imposed by China on materials from the United States from June 1, in retaliation for increased US import duties on Chinese goods in the two coun...Read More
Russian aluminium producer Rusal said it will focus on restoring its market position after its first-quarter revenues plunged by 20.9% year on year in a period "challenged by the past year's events". Rusal reported revenue in the first quarter of 2019 of $2.17 billion, a fall of 20.9% year on year from $2.744 billion. The company said the fall in revenue was due to the decrease in the London Metal...Read More
Russian aluminium producer Rusal said it will focus on restoring its market position after its first-quarter revenues plunged by 20.9% year on year in a period "challenged by the past year's events". Rusal reported revenue in the first quarter of 2019 of $2.17 billion, a fall of 20.9% year on year from $2.744 billion. The company said the fall in revenue was due to the decrease in the London Metal...Read More
Ferro-vanadium prices continued to fall globally in the week ended Friday May 10 with vanadium pentoxide (V2O5) markets following the downtrend. Chinese ferro-vanadium export prices fall on weak demandEuropean ferro-vanadium price continues downtrend on aggressive offers, oversupply European V2O5 price falls again on weak buying, Chinese export price under pressureThe export price for ferro-vanadi...Read More
China will implement import tariffs on over 5,000 types of US goods, including ferro-vanadium, vanadium pentoxide and silicon, starting June 1, 2019, amid an escalating trade war between the two countries. From the start of next month, a 25% tariff will apply to vanadium pentoxide, vanadium oxides and hydroxides and ferro-vanadium containing 75% or more vanadium by weight from the United States. T...Read More
The Chinese bismuth price fell by 4.8% on Friday May 10 after suppliers cut their selling prices in an attempt to stem declining export demand after the United States raised import tariffs on $200 billion worth of Chinese products, including bismuth, to 25% on the same day. The increase to the import tariffs from 10% previously followed a threat earlier by US President Donald Trump that he would r...Read More
The Turkish steel producers went quiet again in the scrap import markets on Tuesday May 14 due to the continuing low demand for finished long steel in the export and domestic markets.A steel producer in the Izmir region booked a Baltic Sea cargo on Monday, comprising 10,000 tonnes of HMS 1&2 (80:20) at $286 per tonne, 12,000 tonnes of shredded at $291 per tonne and 3,000 tonnes of bonus at $296...Read More
Markets were consolidating during morning trading on Tuesday May 14 after the previous day's weakness that saw prices adjust to an escalation in the US-China trade war, with China retaliating by increasing tariffs on $60 billion worth of US imports. This saw risk-off and money move into haven assets, including gold.Investment money flows into gold, the yen and treasuries......while flowing out of...Read More
As cobalt market participants head to Hong Kong for the Cobalt Institutes' annual conference on May 15-16, Fastmarkets summarizes the key talking points that are likely to dominate discussions at this year's event.How will cobalt prices fare over the summer? As it stands, standard-grade cobalt prices are up 22% since the end of March, but the rally has stalled over the past couple of weeks and the...Read More
Prices for flat steel products imported into the United Arab Emirates and Saudi Arabia have decreased over the past week due to demand being limited by observance of the Islamic holy month of Ramadan, which started last week, sources told Fastmarkets on Tuesday May 14.Observance of Ramadan among Muslim communities typically results in shorter working days and reduced demand for materials.End-user...Read More
German steelmaker ThyssenKrupp expects the global steel market environment to remain challenging in 2019, amid "continuing global overcapacities, ongoing risks from trade uncertainties, [and] sharply rising iron ore prices," the company said on May 14.Fastmarkets' 62% Fe iron ore index averaged $82.41 per tonne cfr Qingdao over the first quarter of 2019, compared with $74.39 per tonne cfr in the f...Read More