Falling UG2 chrome ore prices in April have been partly caused by ferro-chrome smelters in China selling their raw material back to the market, sources told Fastmarkets. Fastmarkets' UG2 chrome ore index, cif China, has dropped every week so far in April and stands at $169 per tonne as of Tuesday April 23, down from $186 per tonne on March 29. The smelters are understood to have bought too much ma...Read More
China's stainless steel prices dropped slightly over the past week as sellers focused on destocking amid weak demand.Fastmarkets MB's domestic price assessment for benchmark 304 stainless cold-rolled coil in the major market of Wuxi was 14,000-14,500 yuan ($2,083-2,157) per tonne including value-added tax for the week ended Wednesday April 24, widening downward 100 yuan per tonne from 14,100-14,50...Read More
China will continue to increase its ferrous scrap utilization rates as part of its "Blue Sky" environmental protection policies from 2019, Ma Hongchang, advisor at the Bureau of International Recycling said at the 12th China International Metal Recycling Conference 2019 in Zhuhai, China, this week."China will continue to promote the use of ferrous scrap in the coming years, especially through incr...Read More
Generally London Metal Exchange prices have been weak in recent days and the strong dollar has been a factor in that, but dip-buying appears to be providing support in morning trading on Friday April 26. Base metals Base metals prices on the LME were for the most part firmer across the board this morning, with copper, nickel, zinc and lead prices up by either side of 0.6%, while aluminiu...Read More
Following is a link:http://www.equityclock.com/2019/04/25/stock-market-outlook-for-april-26-2019/Note seasonality chart on Durable Goods OrdersObservationTechnicals on China deteriorated. Shanghai Composite broke below its 20 day moving average, short term momentum indicators turned lower and strength relative to the S&P 500 Index turned negative. Related North American equities (Materials, En...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday April 24.Please click...Read More
Base metals prices on the London Metal Exchange consolidated at the close of trading on Wednesday April 24, largely unaffected by a year-to-date high in the US dollar index, while three-month tin futures continued to face downward pressure.The US dollar index, which is measured against a basket of six foreign currencies, traded at a high of 97.84 and reached its highest level since May 2017 during...Read More
Fastmarkets premiums held in all regions on Tuesday April 23 despite supply uncertainty from Indonesia and stocks held off-exchange. European buyers stay out of spot market. The US market is heavily supplied and spot demand is quiet over the Passover/Easter holiday. China's import window closed. European premiums hold despite falling LME tin price In Europe, Fastmarkets assessed the p...Read More
OM Manganese will spend as much as A$7.3 million ($5.2 million) to establish a manganese ore joint venture in Western Australia with copper-gold-manganese explorer Bryah Resources, Fastmarkets heard on Wednesday April 24.Under the agreement, OM Manganese, which is a wholly-owned subsidiary of Australia-listed mining and metallurgical group OM Holdings (OMH), can earn an interest in as much as 70%...Read More
Chilean miner Antofagasta produced 188,600 tonnes of copper during the first quarter of 2019, up by 22.6% from the corresponding period in 2018 because of higher throughput and ore grades, the company said on Wednesday April 24.Production was down by 14.3% from the previous quarter's record copper production of 220,000 tonnes, however, due to scheduled maintenance at the Los Pelambres and Centinel...Read More
Fastmarkets is revising the specifications for its copper concentrates treatment and refining charge (TC/RC) Asia Pacific index after a thorough consultation with a wide range of market participants. The changes in specifications will take effect from Friday April 26, following an extended market consultation that began on March 4. The index publication frequency has been increased to weekly, whil...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
Key data from the Wednesday April 24 pricing session in Europe.Key drivers The European ferro-titanium and titanium scrap markets were steady in the week to Wednesday April 24, consolidating gains made early last week, when Fastmarkets reported news of a production stoppage at UK producer FE Mottram after a fire at the company's plant in Sheffield. Alloy prices were expected to move higher in the...Read More
The Turkish steel producers have continued to stay away from the deep-sea scrap markets due to weak demand for finished steel, sources said on Wednesday April 24.Demand in the country's export markets was still limited because of the safeguarding imports quotas impose by the EU, the doubled Section 232 import tariffs in the United States, and import duties in Egypt.Suppliers in the Baltic Sea regi...Read More
Trading across most of the base metals is leading to price weakness - this despite record-setting levels seen in the S&P 500 and Nasdaq Composite on Tuesday. The exception is aluminium, where prices have been edging higher in recent days.Asian equities give up early gains; in the US, earnings and dovish Federal Reserve sent shares to, or near to, record highsTop US officials travel to Beijing to c...Read More
China's hot-rolled coil prices dropped on Wednesday April 24 after mills lowered offers amid weak demand and concerns over rising supply.DomesticEastern China (Shanghai): 3,990-4,000 yuan ($594-595) per tonne, down 20 yuan per tonneNorthern China (Tianjin): 3,900-3,920 yuan per tonne, down 10-20 yuan per tonnePrices dropped after mills lowered offer prices in the morning session.A mill i...Read More
Export prices for Chinese cold-rolled coil were down slightly during the week to Tuesday April 23 due to limited demand in overseas markets, while export prices for hot-dipped galvanized coil rose amid a lack of availability in spot supply.Market sources said the recovery in CRC and HDG prices in 2019 could be halted in the next few weeks. Cold rolled coilFastmarkets MB's weekly export price asses...Read More
Chinese steel plate export prices were largely stable over the past week in moderate trading.Fastmarkets MB's assessment for June shipments of commercial-grade, chromium-added plate was $545-550 per tonne fob for the week ended Tuesday April 23, narrowing downward from $545-555 per tonne fob the week prior.Trading was sparse with Pakistan buyers last week, but Vietnamese buyers bought around 3,000...Read More
The price for rebar produced and delivered in Southern Europe was unchanged over the past week, amid low market activity during the Easter holidays, market participants told Fastmarkets on Wednesday April 24.Fastmarkets' weekly price assessment for domestic rebar in Southern Europe was ?,?500-510 ($562-573) per tonne delivered on Wednesday, unchanged from April 17."The market is stable at that pri...Read More