Several large steel projects located in Southeast Asia, underpinned by Chinese investment, are nearing completion and will provide a huge boost to production capacity in the region. Of the 59.9 million tonnes of major carbon steel production capacity planned to come on stream in the next decade in Southeast Asia, 39.4 million tonnes will come from Chinese-led projects, according to statistics from...Read More
Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates.* Major western equity index futures rebounding after Monday’s weakness* Expect increased volatility in the run-up to the US presidential electionBa...Read More
Turkish steel mills booked further scrap cargoes in the deep-sea market on Tuesday October 27, adding to the six heard on the market the day before, sources have told Fastmarkets.A batch of newly booked cargoes came to light on Monday, and on Tuesday another handful of fresh trades were heard.A US-origin cargo was booked by a mill in the Iskenderun region, comprising unknown tonnages of HMS 1&2 (8...Read More
Iron ore prices in the futures and seaborne markets rebounded on Tuesday October 27, with the increase in coke prices and drop in iron ore shipments supporting the sentiment recovery in the raw materials markets and helping iron ore prices to rise slightly, sources said.Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $115.13 per tonne, up $0.50 per tonne62% Fe low-alumina fines, cfr Qingda...Read More
American International Group (AIG), an S&P 100 stock moved above $32.67 resuming an intermediate uptrend.Eli Lilly (LLY), an S&P 100 stock moved below $139.00 extending an intermediate downtrend.Teck Resources (TECK), a TSX 60 stock moved below US$13.05 setting an intermediate downtrend.Dollarama (DOL), a TSX 60 stock moved below $48.00 completing a double top pattern.Dow Jones Industrial...Read More
The seaborne premium hard coking coal price in the fob Australia market rose on Tuesday October 27 amid strong trade on a trading platform, sources said.Fastmarkets indicesPremium hard coking coal, fob DBCT: $115.78 per tonne, up $8.04 per tonnePremium hard coking coal, cfr Jingtang: $119.83 per tonne, unchangedHard coking coal, fob DBCT: $95.77 per tonne, up $0.25 per tonne Hard coking coal, cfr...Read More
Base metals prices on the London Metal Exchange were firmer this morning, Tuesday October 27, despite some strong headwinds from little progress on the next US Covid-19 relief package and surging infection rates across Europe and the United Sates. Major western equity index futures rebounding after Monday's weaknessExpect increased volatility in the run-up to the US presidential electionBase metal...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices for most ferro-alloys maintained their upward momentum into October, solidifying previous gains and reflecting the improved demand from steelmakers, the rebuilding of depleted inventories, and the supply-side concerns following both planned and unplanned outages. Gains were noted for ferro-silicon, silicon metal, mang...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed...Read More
A summary of China's battery raw materials imports for September 2020.In brief Cobalt metal imports dropped in September from the prior month but volumes remained at a comparatively high level due to increased buying interest early in the third quarter, driven by decent import profits owing to the premium held by Chinese domestic cobalt metal over European material. This premium narrowed late in t...Read More
A summary of China's battery raw materials exports for September 2020.In brief Chinese cobalt tetroxide exports continued to rise on a monthly basis amid a recovery in industrial activity in ex-China markets and an increase in remote working, which has led to a bump in demand for consumer electronics. China's lithium carbonate exports fell in September on reduced demand as a result of buyers slowi...Read More
A summary of China's minor metals exports for September 2020.In brief Higher domestic prices stifled Chinese exporters' interest in shipping their indium cargoes abroad during the month. Overseas demand for silicon increased due to the strengthened downstream aluminum ingot ADC 12 market amid the...Read More
The Indian silico-manganese export market will come under pressure in the near term because of slow demand and falling manganese ore markets, Fastmarkets heard on Tuesday October 27.The market has been softening in recent weeks although it was now back at a level last seen on August 14.Fastmarkets' most recent price assessment for silico-manganese, 65% Mn min, min 16% Si, fob India, was $860-890 p...Read More
A summary of Spanish stainless steelmaker Acerinox's financial results for the third quarter of 2020 ended on September 30. In brief Group (stainless steel plus high performance materials) melt shop production in the third quarter of 2020 increased by 21% quarter on quarter, with profits recorded in the period following a loss-making second quarter. Conversely, sales decreased in the r...Read More
The discount paid for ferro-nickel with 26-32% nickel content in China increased slightly in October, with quiet spot trading reported, sources told Fastmarkets this week.Fastmarkets assessed the ferro-nickel premium/discount, 26-32% Ni contained, cif China at $900-1,300 per tonne on Monday October 26, compared with a discount of $1,000-1,300 per tonne on September 28.Spot trading was...Read More
As part of its plan to become a vertically integrated graphite company, Nouveau Monde Graphite (TSXV: NOU; US-OTC: NMGRF) has signed an agreement with a leading chemical company that will provide commercial operating space, site services and the supply of raw materials for the junior to establish two pilot plants.The space, within Olin's facilities in B?(C)cancour, Que., will host two commercial-s...Read More
This week's episode features an in-depth interview with CPM Group managing partner Jeffrey Christian on the U.S. elections, digital currencies, JP Morgan's spoofing scandal, and Bitcoin vs. gold as stores of value. Jeffrey was previously the head of commodities research at J. Aron & Company, which was acquired by Goldman Sachs, and formed CPM Group through a management buy-out of the commodities r...Read More
Drilling around last year's discovery hole at the Keats zone within New Found Gold's (TSXV: NFG; US-OTC: NFGFF) wholly owned Queensway gold project in Newfoundland has returned long intervals of high-grade gold.The explorer has released results of four holes, drilled as part of a 10-metre step-out pattern around discovery hole 19-01, which hit 19 metres of 92.9 grams gold per tonne starting at 96...Read More
Canex Metals (TSXV: CANX) has released assay results from the first five drill holes at its Gold Range project in northern Arizona's Mohave County.The 10-sq.-km project sits within a historic mining district that contains multiple historic workings dating as far back as the 1880s, but which has seen little modern exploration, according to the company.The project's Pit Zone contains a small open p...Read More