A string of long-term deals for cobalt hydroxide show that bullish forecasts for cobalt consumption from the electric vehicle (EV) sector are coming into play. Glencore will supply battery manufacturer SK Innovation with up to 30,000 tonnes of cobalt contained in hydroxide over six years, it said last week - a deal worth about $1 billion in today's market. And other deals also point...Read More
The spot main Japanese port (MJP) aluminium premium is likely to remain under pressure next year due to growing supply and weak demand amid a decline in global automobile sales, market participants told Fastmarkets.The premium, which is paid over the London Metal Exchange cash price, currently serves as the benchmark for most of the aluminium traded in Asia.Fastmarkets has been assessing the alumi...Read More
James Hyerczyk13 hours ago (Dec 20, 2019 11:44 AM GMT)Gold futures are trading lower on Friday, pressured by a firmer U.S. Dollar, rising interest rates and increased demand for risky assets. The market remains rangebound, which suggests investor indecision and impending volatility.Volume is extremely light ahead of the start of holiday season so the market may not move much today. Traders, howeve...Read More
Base metals on the London Metal Exchange broadly closed down in the afternoon on Friday December 20, once more capped by a stronger US dollar index, trading up 0.29% at 97.69 this afternoon, ignoring better-than-expected economic indicators from China.China's CB Leading index, an economic leading indicator intended to forecast future economic activity, was up three percentage points month on month...Read More
Seaborne cargoes of premium hard coking coal were sold to China below prevailing prices on Friday December 20.Fastmarkets indicesPremium hard coking coal, fob DBCT: $135.78 per tonne, up $1.66 per tonnePremium hard coking coal, cfr Jingtang: $147.47 per tonne, down $0.66 per tonneHard coking coal, fob DBCT: $122.33 per tonne, unchangedHard coking coal, cfr Jingtang: $134.99 per tonne, unchangedLow...Read More
Base metals prices on the London Metal Exchange were capped by a stronger US dollar, which traded up 0.03% at 97.43 during the morning session on Friday December 20, having absorbed any residual optimism from China's liquidity boost on Thursday. "Selling pressure has remained somewhat subdued this month," Fastmarkets research analyst Andy Farida said. The LME three-month copper price dipped below...Read More
South American flat-steel import prices continued to rise in line with the global uptrend this week, but mainly because most February-shipment deals have now been settled, sources told Fastmarkets.Fastmarkets price assessment for steel hot-rolled coil import, cfr main ports was $515-525 per tonne on Friday December 20, up from $500-515 per tonne a week earlier.Sales to the Pacific coast close...Read More
Pig iron export prices from Brazil continue to increase amid new sales, sources told Fastmarkets on Friday December 20.Fastmarkets' weekly price assessment for pig iron export, fob port of Vitoria/Rio was $310-313 per tonne on Friday, up from $305-310 per tonne a week earlier.One cargo was bought at $313 per tonne fob, although at the time of publication it was not confirmed wh...Read More
December2, 2019VANCOUVER, B.C. and TORONTO, ON- December 2, 2019 - NxGold Ltd. (TSXV: NXN) ("NxGold" or the "Company") and Mega Uranium Ltd. (TSX: MGA) ("Mega") are pleased to announce that, on December 1, 2019, they executed an arm's length binding term sheet (the "Term Sheet") which sets out the principal terms upon which it is proposed that NxGold will effect a change of business from a Tier 2...Read More
Base metals on the London Metal Exchange broadly closed down in the afternoon on Friday December 20, once more capped by a stronger US dollar index, trading up 0.29% at 97.69 this afternoon, ignoring better-than-expected economic indicators from China.China's CB Leading index, an economic leading indicator intended to forecast future economic activity, was up three percentage points month on month...Read More
Fastmarkets' copper concentrates treatment and refining charges (TC/RC) index rose for the second straight week on Friday December 20, with the spot market firming slightly after cargoes from Dongying Fangyuan and some other smelters were diverted, leading to higher availability.The spot copper concentrates TC/RC index, cif Asia Pacific, was at $51.80 per tonne/5.18 cents per lb on December 20, up...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Stocks of most base metals, except copper and tin, stored in Shanghai Futures Exchange-approved warehouses declined in the week to Friday December 20.Aluminium registered the biggest week-on-week decline in deliverable stocks, down by 24,547 tonnes or 11.2% to 193,820 tonnes.A total of 5,170 tonnes left the Zhongchu Wuxi warehouse...Read More
The benchmark alumina price will remain steady around $280 per tonne at the end of the week despite Hydro's announcement late on Thursday December 19 that it has reduced production at its Alunorte alumina refinery to 50-70% capacity, market sources told Fastmarkets. Hydro reduced production at its Alunorte refinery in Brazil on Thursday after a fallen transmission tower cut power to the produ...Read More
Base metals prices on the London Metal Exchange were capped by a stronger US dollar, which traded up 0.03% at 97.43 during the morning session on Friday December 20, having absorbed any residual optimism from China's liquidity boost on Thursday. "Selling pressure has remained somewhat subdued this month," Fastmarkets research analyst Andy Farida said. The LME three-month copper price dipped below...Read More
JOHANNESBURG (miningweekly.com) – Diversified mining company Anglo American has announced a $13.5-million agreement with First Mode to develop innovative technology for the mining industry.First Mode, of Seattle, which has been working with Anglo to develop the world’s biggest hydrogen fuel cell haul truck for Anglo American Platinum in Limpopo, will be supporting projects across...Read More
The spot main Japanese port (MJP) aluminium premium is likely to remain under pressure next year due to growing supply and weak demand amid a decline in global automobile sales, market participants told Fastmarkets.The premium, which is paid over the London Metal Exchange cash price, currently serves as the benchmark for most of the aluminium traded in Asia.Fastmarkets has been assessing the alumi...Read More
Access our research platformsSign-in to our platforms to access our extensive research, our latest insight, data and analytics and to connect to our industry experts.Perhaps a false sense of security had crept in. Plentiful oil supply, carefully stewarded in 2019 by OPEC+ to get the market closer to balance, and moderate prices. Rising geopolitical tension,even around Iran, seemed a nebulous...Read More
Canadian company Lucara Diamond Corp, which operates the Karowe mine, in Botswana, has had stronger-than-expected finish to the year, with the final tender "reflecting a more stabilised market environment".Lucara generated sales proceeds of $52.9-million in the final tender held on December 12, achieving an average price of $548/ct. The sales proceeds exceeded expectations by 16%.Adverti...Read More
Indian domestic secondary billet prices rose by 1,400 rupees ($20) per tonne in the week ending December 20 on the rising cost of directly reduced iron (DRI), the main raw material used by Indian secondary billet makers.The price of steel billet domestic, ex-works India was assessed by Fastmarkets on December 20 increased by 1,400 rupees per tonne to 27,400-27,600 rupees per tonne compar...Read More