Base metals prices on the London Metal Exchange were largely down at the 5pm close on Monday June 7, with the exception of lead which held strongly amid the ongoing and tightly contested presidential election in Peru. "Lead and zinc are trading in their own tandem due to the close presidential election call in Peru," Fastmarkets analyst Andy Farida said. The lead price closed at $2,153 per tonne t...Read More
Physical commodities trading company Trafigura Pte Ltd and agricultural commodities firm Yara International ASA have signed a memorandum of understanding (MoU) to collaborate on the development and promotion of ammonia as a clean fuel in shipping, Trafigura said. The companies have also agreed to explore opportunities to work together on certain clean green and blue ammonia fuel infrastructure and...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Brazilian exports of alumina decreased by 7.81% in May 2021 over the corresponding month of last year, mainly due to reduced shipments from Norsk Hydro's Alunorte refinery, according to data published in the week ended Friday June 4 by the country's ministry of economy.The country exported 718,843 tonnes of alumina in May, down from 779,769 tonnes a year before. The volume also fell month on month...Read More
Seaborne manganese ore prices jumped by as much as 12% during the week to Friday June 4 after miners hiked offers amid rising freight costs, a stronger South African rand and strength downstream.Fastmarkets' manganese ore 44% Mn, cif Tianjin jumped by 58 cents (12.30%) to $5.29 per dry metric tonne (dmtu) on Friday, from $4.71 per dmtu a week prior.Fastmarkets' manganese ore index 37% Mn, cif Tian...Read More
Here are five Fastmarkets stories you might have missed on Monday June 7 that are worth another look.ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on June 7.Fresh deals for the supply of aluminium ingot...Read More
Belgian battery-materials manufacturer Umicore has appointed Mathias Miedreich chief executive officer to succeed Marc Grynberg, with the appointment to take effect in the fourth quarter of 2021, the company said on Monday June 7.Grynberg and Miedreich will work together to achieve a smooth transition, the company said.Miedreich has worked at Faurecia, a global automotive supplier with a strong fo...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Chinese steel scrap prices were supported by firm downstream steel prices earlier this year, but they fell sharply over the second half of May. The drop in scrap prices in the latter half of the month came after authorities signalled a wish to cool down commodity prices, including those for steel and steelmaking raw material...Read More
Base metals prices on the London Metal Exchange were mainly lower this morning, Monday June 7, after the rally sparked by Friday's worse-than-expected US employment report ran out of steam.China's imports climbed 51% and exports were up 28% year on year in May.The US Dollar Index weakened after Friday's disappointing employment report in the United States.Base metalsLME three-month base metals pri...Read More
Belgian battery-materials manufacturer Umicore has appointed Mathias Miedreich chief executive officer to succeed Marc Grynberg, with the appointment to take effect in the fourth quarter of 2021, the company said on Monday June 7.Grynberg and Miedreich will work together to achieve a smooth transition, the company said.Miedreich has worked at Faurecia, a global automotive supplier with a strong fo...Read More
China's nickel sulfate price widened upward amid a continuous shortage of mixed hydroxide precipitate (MHP) in the week to Friday June 4 although the availability of alternative raw materials continues to restrain the price rise, sources told Fastmarkets. Fastmarkets assessed the nickel sulfate min 21%, max 22.5%, cobalt 10ppm max, exw China at 33,000-34,000 yuan ($5,154-5,311) per tonne on F...Read More
We learned from Kevin Bullock, President and CEO of Anaconda Mining Inc. (TSX: ANX) (OTCQX: ANXGF), that they are on track to become a 150,000 an ounce per year gold producer, within three to five years. Anaconda's Point Rousse Project, located in Newfoundland, continues to produce free cash flow, which funds exploration and development of the Company's Goldboro Gold Project in Nova Scotia, as wel...Read More
Key data from the Friday June 4 pricing session in China.Key drivers China's cobalt metal price rose amid strength in the local futures market; downstream buying activity also picked up slightly with some buyers placing several orders due to concerns of further price increases. The Chinese cobalt tetroxide price was unchanged with...Read More
Domestic hot-rolled coil prices in Europe were fairly stable on Monday June 7, with the bullish mood cooling, sources told Fastmarkets.While shortages are likely to remain a problem for buyers throughout 2021, end users have started to resist further price increases, sources said. After continuously raising prices through April and May, mills have kept their official offers unchanged and will cont...Read More
Even if the bears are right and we are near the end of the risk asset rally, there is plenty of excitement left. Also, find out which morning report oil patch stock has been the top performer so far this year. Commodities have left the bears in the dustAll this and more in the latest Insights here. Read More
Domestic prices for hot-rolled coil in Europe increased in the week to Friday June 4, but the pace of the rally has slowed compared with previous weeks. Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe at ?,?1,148.57 ($1,397.26) per tonne on June 4, up by ?,?12.32 per tonne week on week and by ?,?137.57 per tonne month on month. Friday's index was ba...Read More
Steel re-rollers in Tangshan's Fengrun district have been asked to cut their production from June 4-13 in an attempt to control air quality, sources said.But some re-rollers have already resumed their production, other market participants told Fastmarkets.One weather forecast website shows that the Fengrun area should experience heavy air pollution in the coming week, Fastmarkets heard.Gao Jianmin...Read More
ArcelorMittal is seeking approval from European authorities for its acquisition of steelmaking assets in France that belong to Liberty Steel, the European Commission (EC) said on Monday June 7."ArcelorMittal confirms that it has submitted an offer to acquire the Hayange and Ascoval steel plants which are currently owned by GFG Alliance," ArcelorMittal said.A deadline for publication of the provisi...Read More
The price of steel rebar in Russia's Central Federal District around Moscow was steady in the week to Monday June 7, aided by solid demand from end-users, sources told Fastmarkets.Tula Steel was heard offering rebar to the region at 75,000-77,000 roubles ($1,029-1,057) per tonne cpt, sources said, compared with 75,000 roubles per tonne heard seven days ago.Severstal was offering June-delivery reba...Read More
Export prices for wire rod and rebar from the Commonwealth of Independent States (CIS) were broadly unmoved in the week to Monday June 7, with trading activity to key destinations remaining weak, sources told Fastmarkets.Wire rodFastmarkets' weekly price assessment for steel wire rod (mesh quality), export, fob Black Sea, CIS was at $840-860 per tonne fob on Tuesday, widening from $845-855 per ton...Read More