Participants in the alumina industry are bracing themselves for a turbulent end to the year following Hydro's announcement that it will suspend 100% of operations at its Alunorte facility. Alumina refinery Alunorte has been running at 50% capacity since March. The decision for a full curtailment came on Wednesday October 3 following embargoes from Brazilian authorities. Hydro said that the cl...Read More
Base metals prices on the London Metal Exchange were collectively higher during morning trading on Thursday October 4, with aluminium's price rally continuing after Norsk Hydro announced a full suspension of operations at its Alunorte alumina refinery in Brazil. The three-month aluminium price has gained just under 10% this week and breached $2,200 per tonne following Hydro's announcement at its A...Read More
Manganese ore markets gained on higher offers from miners, while alloy prices dropped in China, capping ore market sentiment. Ore prices jump by up to 20 cents per dmtuSilico-manganese spot prices weaken in ChinaIndian silica-manganese market weakensEuropean alloy prices steadyUS manganese alloy prices largely stable in dormant spot market Manganese ore prices jumped in the week ended Friday Septe...Read More
Fastmarkets amended the specification of the chromium content of the 0.10% C low-carbon ferro-chrome Europe price to 65-70%.Fastmarkets has considered all data points within the existing low-carbon ferro-chrome price with a carbon and chromium content of 0.10% and 60-70% respectively. Some market participants felt that a divergence in the spread that had developed between the high and low end of t...Read More
Participants in the alumina industry are bracing themselves for a turbulent end to the year following Hydro's announcement that it will suspend 100% of operations at its Alunorte facility. Alumina refinery Alunorte has been running at 50% capacity since March. The decision for a full curtailment came on Wednesday October 3 following embargoes from Brazilian authorities. Hydro said that the cl...Read More
Vanadium trade log including business, bids and offers reported to Fastmarkets MB.To view the latest price quotations, follow the links below:Europe- Ferro-vanadium delivered duty-paid in Europe- Vanadium pentoxide in-warehouse RotterdamChina- Ferro-vanadium, 78% min, fob China, $ per kg V- Vanadium pentoxide, 98% min, fob China, $ per lb V2O5Friday September 28Ferro-vanadium - 5 tonnes sold at $1...Read More
Fastmarkets is increasing the minimum tonnages for some of its benchmark minor metals price assessments following a month-long consultation. Fastmarkets' minimum lot size for its in-warehouse Rotterdam indium, gallium, germanium metal and germanium dioxide price assessments is rising to 100kg from Friday, October 5, from 50kg currently. There will be no changes to the publishing time and dates of...Read More
"We want to be leaders in what we do," Vital Materials' chief executive officer, George Zhu, told Fastmarkets MB during a visit to the company. Vital Materials, one of the largest and most diverse minor metals producers in China - has five sites across the country: four in Qingyuan and a pigment plant in Tianjin, and employs more than 2,500 people worldwide. Each of the plants runs 24 hours per da...Read More
Turkish steel producers made no deep-sea bookings on Thursday October 4 but a rumor of a US cargo deal surprised the market.A Turkish producer was heard to have booked a US cargo at $330 per tonne cfr for HMS 1&2 (80:20) earlier on Thursday, but a number of sources said later in the day that the deal had not been concluded.There was also market chatter about a rebar shipment traded at $495 per ton...Read More
The Thursday Market Minute U.S. Treasury bond markets are riding their biggest spike since the November 2016 Presidential elections, taking 10-year yields to 3.225%, the highest since 2011, on renewed inflation concerns.Global stocks retreat as investors re-set expectations for Fed rate hikes amid much-stronger-than-expected ISM services data that suggests faster inflation and rising...Read More
The Comex copper price was trading at a multi-week high in the US morning on Thursday October 4, amid falling stocks and a weaker dollar.Copper prices for December settlement on the Comex division of the New York Mercantile Exchange gained 0.10 cents or 0.1% to $2.8350 per lb.At 84,000 tonnes as of October 3, they are down 7,900 tonnes or 9% so far this week after falling 53,000 tonnes or 37% last...Read More
Three-month base metals prices on the London Metal Exchange were for the most part weaker during morning trading on Thursday October 4.The exception was lead where prices were up by 0.4%. The rest were down between 0.2% for copper, aluminium and nickel and 0.7% for tin, with zinc off by 0.3%. Copper prices were recently quoted at $6,320 per tonne. Although Chinese markets are still closed for the...Read More
Cobalt trade log including business, bids and offers reported to Fastmarkets MB.Unless otherwise stated, all prices are per lb on an in-warehouse basis. Delivered prices are netted back. Fastmarkets MB prices Click here for Fastmarkets MB's price assessment for low-grade cobalt, in-warehouse, $ per lb Click here for Fastmarkets MB's price...Read More
U.S. bond markets are riding their biggest moves since the 2016 Presidential election Thursday, pulling yields higher and widening the gap between short and long term interest rates in a move that should erase one of the most closely watched signals of economic recession. With the ISM non-manufacturing index hitting the highest level in 21 years last month, a reading of private sector job creati...Read More
Turkish domestic long steel prices have continued to soften over the past week on sluggish demand, while the country's lira was gradually regaining value against the US dollar, sources said on Thursday October 4.Fastmarkets' weekly price assessment for domestic rebar in Turkey was TRY3,650-3,700 ($605-613) per tonne ex-works, down from last week's TRY3,700-3,800 per tonne, including 18% VAT.The do...Read More
Domestic and import steel billet and rebar prices in Egypt remained unchanged in the week to Thursday October 4, although demand for rebar was slightly better in the country.Metal Bulletin's weekly price assessment for steel billet imported into Egypt was unchanged at $495-500 per tonne cfr on Thursday.CIS-origin billet...Read More
Turkish long steel producers continued to struggle with weak demand in the country's export markets over the past week, sources said on Thursday October 4.Fastmarkets' weekly price assessment for rebar exports out of Turkey was $495-500 per tonne fob on an actual weight basis, narrowing downward from last week's $495-510 per tonne.The mills in Turkey have lowered their offers as low as $500-505 pe...Read More
The export market for pig iron from the Commonwealth of Independent States was re-activated during the week ended Thursday October 4 with new deals being heard in Italy and Western Europe.At least one deal was done to Italy at $385-388 per tonne cfr, breaking a long-lasting silence in the market. That price would be close to $360-363 per tonne fob Black Sea, considering rough estimations of the fr...Read More
Turkish steel producers made no deep-sea bookings on Thursday October 4 but a rumor of a US cargo deal surprised the market.A Turkish producer was heard to have booked a US cargo at $330 per tonne cfr for HMS 1&2 (80:20) earlier on Thursday, but a number of sources said later in the day that the deal had not been concluded.There was also market chatter about a rebar shipment traded at $495 per ton...Read More
Turkish billet prices have remained broadly stable over the past week despite sluggish demand, especially for imported material, sources said on Thursday October 4.Suppliers in the CIS region were offering the semi-finished material to Turkish customers at $485-490 per tonne cfr, while the few buyers active in the market were bidding $480...Read More