Seaborne prices of high- and low-grade manganese ore in China continued to strengthen during the week ended December 13 amid resumed buying interest, market sources said.Fastmarkets' manganese ore index, 37% Mn, cif Tianjin, rose by 5 cents week on week to $3.75 per dry metric tonne unit (dmtu) on December 13.Fastmarkets' index for manganese ore, 37% Mn, fob Port Elizabeth, also climbed by 5 cents...Read More
Here are five Fastmarkets MB stories you might have missed on Monday December 16 that are worth another look.South American steel import prices continued to climb during the week ended Friday December 13, following the trend of global prices, as customers rushed to book February-shipment cargoes ahead of the holidays, sources said.Participants are taking a cautious approach to the aluminium market...Read More
Environmental, social and corporate governance (ESG) is no longer a niche concern in the natural resources sector.Corporate governance and community issues have typically dominated the sustainability and ethical criteria of mining companies and their investors. But more recently, the focus has shifted.Environmental factors, particularly decarbonization, have come to the fore amid increasingly stri...Read More
Participants are taking a cautious approach to the aluminium market in 2020, with poor downstream demand and low product premiums threatening already-tight margins in the industry.Premiums for downstream products such as aluminium billet in the United States and Europe are both at record lows, forced down by an absence of demand this year - a trend that is expected to continue. The demand drought...Read More
London Metal Exchange nearby aluminium spreads have continued to ease following a significant 30,400-tonne inflow of metal into LME-approved sheds in Singapore on Monday December 16.LME aluminium stocks now total 1,403,075 tonnes, up by 49% from 942,125 tonnes on November 12.LME global aluminium inventories have climbed consistently of late amid persistent spread backwardations, which have attract...Read More
Broader markets are generally upbeat this morning, Monday December 16, helped by last week's partial United States-China trade deal and some positive economic data out of China.But the base metals are mixed and gold prices are up, which suggests there is still some concern about the terms of the trade deal.Chinese industrial production rose 6.2% in November, up from 4.7% previously while retail sa...Read More
Base metals prices on the Shanghai Futures Exchange were mostly little changed to down during the morning trading session on Monday December 16, with investors shrugging off news on Friday that the United States and China have agreed on a "phase one" trade deal.Lead was the worst performer of the complex, with its most-traded February contract sliding to 14,985 yuan ($2,149) per tonne as at 11.30a...Read More
Brazilian aluminium producers are looking to slash the current duty-free import quota in the country by at least 100,000 tonnes per year amid expectations that the Albras smelter will reach full capacity in the coming quarter, market sources told Fastmarkets.The local industry has petitioned that the amount of aluminium ingot allowed to be imported without duties be set at 180,000 tonnes for 2020....Read More
Chinese products have become more competitive in the Asian hot-rolled coil market in recent weeks due to cargoes from other parts of the world being offered into the region at higher prices.Fastmarkets' assessment for steel HRC import, cfr Vietnam, which mainly looks at Chinese 2-3mm re-rolling-grade SAE1006 HRC and equivalent products sold into Vietnam, was $480-485 per tonne cfr Vietnam for the...Read More
China's finished steel output grew by 10.4% year-on-year in November as mills raised production in response to steel price gains, according to the National Bureau of Statistics.Finished steel production reached 104 million tonnes during the month, which was also up 1.34% from October.Market participants said that mills had been accelerating their production amid price surges.Hot-rolled coil prices...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.Oil demand growth has been weak in 2019, with the OPEC+ group surprisingly extending their cuts by a further 500 kbd through to end of Q1 in 2020. In spite of that, fears of sustained weak demand growth have restricted Brent to mid US...Read More
The latest bids, offers and deals in the global markets for hot-rolled coil, cold-rolled coil, hot-dipped galvanized coil, pre-painted galvanized iron, plate, sheet and other flat steel products. Latest transaction: hot-rolled coilHot-rolled coilEast China, domestic, commercial-grade...Read More
RAPAPORT... A drop in rough-diamond prices and a sales shift tolower-value items weighed on De Beers' profitability in the second half,according to executives at parent company Anglo American. The miner's rough-price index dropped around 5% year onyear for the first nine sights of 2019 amid a market slowdown, Anglo CEO MarkCutifani noted in a call with investors last week. Combined with the w...Read More
RAPAPORT... Signet Jewelers is now offering jewelry featuring synthetic diamonds and gemstones at all of its major US banners, after asuccessful pilot in limited locations. "Lab-created diamonds are available in both fashion and bridaljewelry at James Allen, Kay, Zales, and Jared stores, as well as their e-commercesites," David Bouffard, Signet's vice president of corporate affairs, confirme...Read More
RAPAPORT... Gibb River Diamonds believes it will secure the remainingfinancing needed to start production at its Blina mine after blocking ahostile takeover, it said Monday. The company's ability to obtain investment had been hindered by Ron Brierley, a New Zealand-based investor and corporate raider who launched a hostile takeover bid in 2015, executive chairman Jim Richards explained. Brier...Read More
China's hot-rolled coil prices were stable on Monday December 16, though some market participants in the eastern region are expecting prices to fall in the next few days with more cargoes being delivered there from the north.DomesticEastern China (Shanghai): 3,880-3,890 yuan ($556-558) per tonne, unchangedNorthern China (Tangshan): 3,640-3,650 yuan per tonne, unchangedA Shanghai-based trader descr...Read More
RAPAPORT... US retail sales rose in November as consumer sentiment was strong at the start of the holiday season, the National Retail Federation (NRF)said. Total purchases for November - excluding automobiles, gasoline andrestaurants - rose 0.1% compared to the previous month, according todata the NRF published Friday. Sales climbed 2.1% year on year for the month, particularly impressive giv...Read More
China's domestic rebar prices moved down slightly on Monday December 16 amid falling futures.Eastern China (Shanghai): 3,860-3,890 yuan ($553-558) per tonne, down 10 yuan per tonneNorthern China (Beijing): 3,550-3,570 yuan per tonne, down 20 yuan per tonneThe losses in the futures market led to a deterioration of sentiment in the spot market. In the northern region, end-user demand dropped sharply...Read More
RAPAPORT... After six years of development, production is due to begin at Alrosa's Luaxe diamond deposit in Angola next year, the nation's government said. Output will come to around 1 million carats valued at $90 million in the first year, according to a Reuters report. The initial stages of production will be a "pilot project," Endiama strategic planning andmining operations administrator L...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.Wood Mackenzie will host its annual Metals & Mining Forum on Tuesday 4th February 2020 in Tokyo.At this event, senior Wood Mackenzie analysts will present our view on a range of metals and mined commodities, and the impact of the...Read More