Xinfa group's alumina refinery in Xiaoyi city, Shanxi province closed an operation line with a capacity of 1.2 million tonnes per year last week due to a bauxite shortage, several sources told Fastmarkets on Wednesday July 7.The refinery has a total capacity of 3.6 million tonnes and has run at full capacity since May.Xin'an Chemical alumina refinery, a subsidy of Hangzhou Jinjiang group located i...Read More
I've made many visits to China over the past thirty years and have been careful to move beyond Beijing (the political capital) and Shanghai (the financial capital) on these trips.My visits have included Chongqing, Wuhan (the origin of the coronavirus outbreak), Xian, Nanjing, new construction sites to visit "ghost cities," and trips to the agrarian countryside.My trips included meetings with gover...Read More
China's domestic rebar prices rose slightly on Wednesday July 7, but the gains were much lower than those in the futures market.DomesticEastern China (Shanghai): 4,960-4,990 yuan ($767-771) per tonne, up by 10 yuan per tonneHeavy rain in large parts of China and high temperatures in the south have pushed down end-user demand for rebar, with one trader in Shanghai describing spot demand as "really....Read More
Hot-rolled coil prices in China's domestic market rose for a third straight day on Wednesday July 7, following a sharp gain in futures prices driven by growing expectations of production reductions across Chinese steelmakers in the remainder of the year.DomesticEastern China (Shanghai): 5,650-5,720 yuan ($873-884) per tonne, up by 70-100 yuan from 5,580-5,620 yuan per tonne. The most-traded HRC co...Read More
Base metals rallied in morning trading on Wednesday July 7 with copper leading the pack higher.At $9,495 per tonne the LME three-month copper contract was up 1.96% from Tuesday's 5pm close."Yesterday, we said the metals were looking more upbeat because copper had broken higher, but given the weakness seen yesterday, the market looks a bit flighty, so we will wait to see if the dip buying pushes co...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies and...Read More
An overview of the consumer electronics markets and their latest price moves.Janie Davies, Cristina Belda and...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) 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 Cobalt hydroxide p...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 assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 23.85-24.50 on Wednesday July...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade 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.Read More
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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 Cobalt...Read More
The National Development and Reform Commission (NDRC), China's economic planning body, has published a plan for its resource recycling industry on Wednesday July 7 to accelerate the development of a low-carbon circular economy.The development plan, which includes a goal for the ferrous scrap usage in the steel sector to reach 0.32 billion tonnes in 2025, forms part of the country's 14th five-year...Read More
China's National Development and Reform Commission (NDRC) issued the country's 14th five-year development plan for a circular economy on Wednesday July 7, according to a notice published on the commission's website.The plan highlights the importance of promoting economical and intensive use of resources, and building a circular industrial system as well as a recycling system of waste materials in...Read More
China's output of recycled non-ferrous metals is set to reach 20 million tonnes by 2025, the country's National Development and Reform Commission (NDRC) said on Wednesday July 7. The output target forms part of the NDRC's resource recycling industry development plan, which aims to accelerate the development of a green and low-carbon circular economy during China's 14th Five-Year Plan (2021-2025).A...Read More
Singapore is well-placed to continue playing a growing role in the global commodities market amid the possible likelihood of Covid-19 turning endemic, the Singapore Exchange's head of commodities, William Chin, told Fastmarkets in an interview ahead of Singapore International Ferrous Week 2021."Covid-19 brought the entire commodities industry into uncharted waters and threw out century-old playboo...Read More
Europe's third-quarter steel import quotas opened on Thursday July 1, but already some suppliers have absorbed a large proportion of the long steel allocation, repeating a similar scenario from the previous quarter.As a result, European independent traders and downstream steel users are once again left with no alternative to domestically produced steel and surging prices, sources told Fastmarkets....Read More
Canadian miner Centerra Gold (TSX: CG; NYSE: CCAU) has brought additional claims in its binding arbitration against the Kyrgyz Republic government as it fights the "wrongful expropriation" of the cornerstone Kumtor mine. Centerra has also named, state monopoly gold refiner and Centerra's largest shareholder, Kyrgyzaltyn, as a respondent.According to the amended notice of arbitration, Kyrgyzaltyn...Read More
Skeena Resources (TSX: SKE; US-OTC; SKREF) has reported the latest drill results from the Phase 3 infill and exploration program at its wholly-owned Snip gold project in B.C.'s Golden Triangle, about 100 km northwest of Stewart.Highlights included drillhole UG21-177, which intersected 4.41 metres grading 110.22 grams gold per tonne from one metre downhole, including 0.58 metres of 730 grams gold....Read More
After hitting a new record of US$4.88 per lb. on May 10, LME cash copper prices are expected to average US$4.20 per lb. in 2021 and US$3.96 per lb. in 2022, according to the inaugural edition of Critical Metals for a Sustainable World, a new monthly publication by Capitalight Research.The Toronto-based research group notes that "trend copper prices must remain well above long-term 'incentive level...Read More
Solaris Resources (TSX: SLS; US-OTC; SLSSF) has reported the latest assays from its flagship Warintza copper-gold project in south-eastern Ecuador, about 85 km east of the city of Cuenca.The company reported results from four drill holes that the company says have extended the strike length of Warintza Central 1,250 metres to the east, with some of the strongest intervals reported so far on the p...Read More