- South African trucking slow to resume after protests add to producers' woes (Wed, 08 Jul 2020 15:05:00 GMT)Road freight in South Africa has been slow to return to normal operations following demonstrations on Tuesday July 7 in which vehicles were set alight and drivers threatened, adding to the Covid-19-related problems that have affected the country’s logistics.
- South Africa truckers' strike leads to re-routing, delays of metal cargoes (Wed, 08 Jul 2020 12:52:00 GMT)African metal exporters are re-routing their cargoes to avoid the logistics problems created a nationwide strike by truck drivers in South Africa that started on Tuesday July 7.
- IN CASE YOU MISSED IT: 5 key stories from July 7 (Wed, 08 Jul 2020 00:05:00 GMT)Here are five Fastmarkets stories you might have missed on Tuesday July 7 that are worth another look.
- Teck delays start of Red Dog shipping season; customers affected (Tue, 07 Jul 2020 20:41:00 GMT)Teck Resources has delayed the start of the Red Dog shipping season after equipment failure on one of its two barges forced the vessel out of service for about a month.
- Brazilian alumina export growth slows to 4.6% y-o-y in June (Tue, 07 Jul 2020 17:09:00 GMT)Alumina exports from Brazil increased in June on an annual basis but at a reduced rate than in the previous months of this year, data from the country’s economy ministry on Monday July 6 showed.
- China copper smelter Dongying Fangyuan misses bond payment (Tue, 07 Jul 2020 15:10:00 GMT)A regulatory filing has shown that Dongying Fangyuan missed the payment of a bond that reached its maturity eight months ago.
- First Quantum to resume full production at Cobre Panama copper project (Tue, 07 Jul 2020 14:54:00 GMT)First Quantum Minerals is to resume production at its Cobre Panama copper project after Panama's government lifted its Covid-19 suspension of operations at the site.
- MANGANESE ORE ANALYTICS: July 6, 2020 (Tue, 07 Jul 2020 10:36:00 GMT)The latest data for the global manganese ore market for the week ended Monday July 6, 2020.
- IN CASE YOU MISSED IT: 5 key stories from July 6 (Tue, 07 Jul 2020 00:05:00 GMT)Here are five Fastmarkets stories you might have missed on Monday July 6 that are worth another look.
- KCM says portion of Nchanga open-pit copper mine set to collapse (Mon, 06 Jul 2020 22:18:00 GMT)Konkola Copper Mines (KCM) has predicted an impending collapse of a portion of its Nchanga open-pit copper mine in Zambia after a series of geotechnical assessments found some slope instability.
- Copper poised to rally above $7,000/t in 2021, ERG CEO says (Mon, 06 Jul 2020 17:38:00 GMT)Copper prices are poised to move above the $7,000-per-tonne level next year as the supply impacts of the Covid-19 pandemic last well beyond this year and the market enters a prolonged period of structural undersupply, the chief executive officer of Eurasian Resources Group (ERG) said.
- Narrow smelter margins, cautious buying put further pressure on manganese ore prices (Mon, 06 Jul 2020 17:25:00 GMT)Seaborne manganese ore prices continued to face pressure last week against a backdrop of falling portside ore prices, weak alloy futures contracts, and lower-than-expected tender price for July-delivery silico-manganese from Hebei Steel, China’s second largest steel mill.
- China’s UG2 chrome ore, ferro-chrome markets drift on lower July tenders (Mon, 06 Jul 2020 16:44:00 GMT)The UG2 chrome ore, charge chrome and Chinese domestic spot ferro-chrome markets all drifted lower in the week to Friday July 3 on weakening sentiment after the main Chinese stainless steel mills lowered their tender prices for July.
- Trevali extends suspension at Santander zinc mine in Peru after more Covid-19 cases (Mon, 06 Jul 2020 16:23:00 GMT)Zinc and lead miner Trevali has delayed the restart of its suspended Santander mine in Peru after more workers tested positive for Covid-19.
- Freeport beats revised Q2 copper sales forecast by 8% (Mon, 06 Jul 2020 15:18:00 GMT)Freeport-McMoRan has beaten its revised copper sales target for the second quarter of this year by 8%, although its Cerro Verde and El Abra operations continue to operate in line with forecasts modified in April due to the Covid-19 pandemic.
- Codelco suspends El Teniente copper mine expansion to combat Covid-19 (Mon, 06 Jul 2020 14:40:00 GMT)Codelco had demobilized staff and suspended construction at its El Teniente project in Chile to contain the rapidly spreading Covid-19 virus in the region, the company said on Saturday July 4.
- WEBINAR: Chrome ore most vulnerable to supply disruption during 2020-2021 – poll (Mon, 06 Jul 2020 09:17:00 GMT)Chrome ore is the raw material in ferro-alloy production that is most likely to be subject to supply disruptions during 2020-2021, according to a poll conducted during Fastmarkets’ webinar on Covid-19 and Asian ferro-alloy markets on Tuesday June 30.
- IN CASE YOU MISSED IT: 5 key stories from July 3 (Fri, 03 Jul 2020 23:05:00 GMT)Here are five Fastmarkets stories you might have missed on Friday July 3 that are worth another look.
- Production resumes at Hydro’s Paragominas mine, Alunorte alumina refinery (Fri, 03 Jul 2020 16:27:00 GMT)The power supply to the Paragominas bauxite mine, in the state of Pará in northern Brazil, has been restored, producer Hydro said on Friday July 3.
- COPPER CONCS SNAPSHOT: TC/RCs steady with focus on Chile mine supply concerns (Fri, 03 Jul 2020 16:25:00 GMT)The spot market remained subdued this week but buyers are picking up copper concentrates at low levels while the Chilean coronavirus situation remains precarious, sources said on Friday July 3.
- ALUMINA SNAPSHOT: Demand from China pushes alumina index above $260/t (Fri, 03 Jul 2020 16:03:00 GMT)Key information from the pricing session for Fastmarkets’ alumina index, fob Australia, on Friday July 3.
- Rio Tinto sees 15% less copper reserves in Oyu Tolgoi after plan changes (Fri, 03 Jul 2020 15:40:00 GMT)The volume of recoverable copper reserves at Rio Tinto's Oyu Tolgoi mine has dropped by 15% in the latest mine plan, according to a regulatory filing released on Friday July 3.
- Chinese alumina market ‘lights up’ as SHFE aluminium price hits six-month high (Fri, 03 Jul 2020 11:33:00 GMT)Market activity in the domestic Chinese alumina market jumped up in the second half of the week to Thursday July 2 after the Shanghai Futures Exchange aluminium futures price rose to its highest since January 23.
- China’s top copper smelters slash Q3 TC/RCs buying floor amid supply concerns (Fri, 03 Jul 2020 08:27:00 GMT)China’s top copper smelters have slashed the treatment and refining charges (TC/RCs) purchase price floor for the third quarter of 2020 by around 18% from the prior quarter, a source with direct knowledge of the matter told Fastmarkets.
- IRON ORE DAILY: Seaborne prices were rangebound, supply concerns at Chinese ports (Thu, 09 Jul 2020 12:10:00 GMT)Movements in prices for seaborne iron ore were rangebound on Thursday July 9, with concerns coming to light over the limited port inventories of some low- and mid-grade iron ore fines brands, according to market participants.
- COKING COAL DAILY: Seaborne prices still static on low liquidity (Thu, 09 Jul 2020 11:52:00 GMT)Seaborne prices generally remained flat on Thursday July 9 amid a muted spot market while buyers and sellers are in a stalemate, market participants said.
- CHINA HRC: Prices rise to six-month high despite growing inventories (Thu, 09 Jul 2020 11:42:00 GMT)China’s hot-rolled coil prices climbed to their highest in nearly six months on Thursday July 9 despite rising inventory levels, with the previous day’s trading activity encouraging sellers to issue higher offers.
- LIVE FUTURES REPORT 09/07: LME copper price soars 2% to breach $6,350/t; 15,000t fresh cancellation in zinc (Thu, 09 Jul 2020 10:58:00 GMT)The three-month copper price on the London Metal Exchange was higher during morning trading on Thursday July 9, with price action pushing firmly above nearby resistance levels, while a sizeable fresh cancellation in LME zinc stocks saw the metal’s underlying price also rally.
- CHINA REBAR: Rising inventories slow down pace of price increases (Thu, 09 Jul 2020 10:27:00 GMT)China’s domestic rebar prices continued to rise on Thursday July 9, albeit with less upward momentum due to high inventory levels in the market.
- MORNING VIEW: Metals stronger as supply fears dominate, especially for copper, zinc (Thu, 09 Jul 2020 08:54:00 GMT)Broad markets were managing to remain upbeat this morning, Thursday July 9, despite the rapid spread of the Covid-19 virus across some continents, while the base metals were rallying on the back of numerous supply disruptions, especially affecting copper and zinc.
- GLOBAL NICKEL WRAP: Negative arbitrage pressures China nickel premiums lower (Wed, 08 Jul 2020 23:51:00 GMT)A negative arbitrage between the London Metal Exchange and Shanghai Futures Exchange resulted in lower premiums for all nickel grades in China in the week to Tuesday July 7, while other regional premiums remained unchanged.
- BASE METALS WARRANT REPORT 08/07 (Wed, 08 Jul 2020 19:05:00 GMT)A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday July 8.
- LIVE FUTURES REPORT 08/07: LME aluminium price rallies to three-month high in high-vol trading (Wed, 08 Jul 2020 17:43:00 GMT)The London Metal Exchange three-month aluminium price closed at its highest since March 16 on Wednesday July 8, up 1.8% on the previous day’s close at $1,665 per tonne after 20,000 lots changed hands over the course of the trading day.
- LME to keep ring closed despite easing lockdown in London (Wed, 08 Jul 2020 17:32:00 GMT)The London Metal Exchange will keep its open outcry trading ring in London closed despite the United Kingdom easing its lockdown restrictions, it announced on Wednesday July 8.
- IRON ORE DAILY: 62% Fe index hits 2020 high as seaborne gains continue (Wed, 08 Jul 2020 12:57:00 GMT)Fastmarkets’ iron ore index for 62% Fe fines, cfr Qingdao rose to its highest level in 2020 on Wednesday July 8, with iron ore prices continuing to strengthen amid the recovery in Chinese domestic demand for rebar.
- COKING COAL DAILY: Seaborne prices flat on lack of trading (Wed, 08 Jul 2020 11:48:00 GMT)The seaborne coking coal market was quiet on Wednesday July 8, with prices flat. Apart from one transaction for hard coking coal, the market has seen no trading activity so far this week.
- CHINA HRC: Imports resume on surging domestic prices (Wed, 08 Jul 2020 11:25:00 GMT)China’s hot-rolled coil prices surged on Wednesday July 8 amid financial market gains, which revived imports, sources told Fastmarkets.
- CHINA REBAR: Restocking demand pushes up domestic prices (Wed, 08 Jul 2020 10:23:00 GMT)China’s domestic rebar prices increased further on Wednesday July 8 on restocking demand and rising futures.
- LIVE FUTURES REPORT 08/07: LME zinc hits 4-month high above $2,100/t in 1.7% upswing (Wed, 08 Jul 2020 10:10:00 GMT)The London Metal Exchange three-month zinc price surpassed the $2,100-per-tonne psychological level for the first time since February 24 to trade up 1.7% to $2,106 per tonne from the previous day’s close at $2,070 per tonne during the morning session on Wednesday July 8.
- MORNING VIEW: Broader markets softer, base metals prices mixed while China’s rally continues (Wed, 08 Jul 2020 09:09:00 GMT)With the exception of China’s CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Wednesday July 8, while base metals prices on the London Metal Exchange were little changed and those on the Shanghai Futures Exchange were generally firmer.
- GLOBAL ALUMINIUM WRAP: LME contango drives Rotterdam up; premiums stable elsewhere (Tue, 07 Jul 2020 22:13:00 GMT)The recent contango seen on aluminium cash-to-future spreads on the London Metal Exchange supported a limited uptrend in Europe during the week to Tuesday July 7, driving the Rotterdam duty-paid market higher, while premiums were unchanged in other parts of the world.
- WEEKLY BASE METAL PREMIUMS REPORT: 07/07 (Tue, 07 Jul 2020 21:42:00 GMT)A summary of base metals premiums from across the globe for the week to Tuesday July 7.
- LIVE FUTURES REPORT 07/07: LME lead price finds support; copper flips to contango (Tue, 07 Jul 2020 17:25:00 GMT)The three-month price of lead on the London Metal Exchange was at the top of the list of gains at the close of trading on Tuesday July 7, with the price appreciating by 1.5% to push above nearby resistance levels, while a continued rise in LME copper futures took the red metal to a six-month high.
- IRON ORE DAILY: Seaborne prices increase on futures markets gains (Tue, 07 Jul 2020 12:40:00 GMT)Seaborne iron ore prices stayed bullish on Tuesday July 7, largely following the upward trend observed in the futures market, sources told Fastmarkets.
- COKING COAL DAILY: Seaborne prices flat on lack of market drivers (Tue, 07 Jul 2020 12:25:00 GMT)Seaborne coking coal prices remained relatively flat on Tuesday July 7 due to a lack of drivers for the market, sources said.
- Tin miner Kasbah Resources delists from Australian exchange (Tue, 07 Jul 2020 12:15:00 GMT)Australia-based tin mining company Kasbah Resources has delisted from the Australian Securities Exchange (ASX), according to a company statement issued on Tuesday June 30.
- LIVE FUTURES REPORT 07/07: LME base metals prices downbeat amid low-volume trading; copper spreads ease (Tue, 07 Jul 2020 10:49:00 GMT)Three-month base metals prices on the London Metal Exchange consolidated lower in the morning of Tuesday July 7, following low-volume trading over the Asia hours, while copper’s forward spreads eased despite net outflows.
- CHINA HRC: Export market quiet despite higher bids from Pakistan (Tue, 07 Jul 2020 10:48:00 GMT)China’s domestic hot-rolled coil prices rose on Tuesday July 7 amid moderate trading activity, while the export market remained quiet despite higher bids emerging in Pakistan, sources told Fastmarkets.
- MORNING VIEW: Base metals prices hold firm, most Asian equities weaker while China’s rally continues (Tue, 07 Jul 2020 09:09:00 GMT)With the exception of China’s CSI 300, Asian-Pacific equities and pre-market major western equity futures were weaker this morning, Tuesday July 7, while base metals prices on the London Metal Exchange were mixed, although in general were holding up well.
- SHFE nickel price rises further amid elevated macro sentiment (Mon, 06 Jul 2020 21:03:00 GMT)The Shanghai Futures Exchange nickel price continued its gains on Monday July 6 after a strong performance last week, with positive macro sentiment supporting the price despite quiet spot demand, sources told Fastmarkets.
- FOCUS: Q3 MJP aluminium negotiations still up in the air; no benchmark yet (Mon, 06 Jul 2020 18:12:00 GMT)We are only a few days into the third quarter of 2020, but no benchmark premium has yet been set for the supply of aluminium ingots to Japan for the July-September period.
- LIVE FUTURES REPORT 06/07: LME nickel price continues rally; copper clears $6,100 (Mon, 06 Jul 2020 17:08:00 GMT)The three-month nickel price on the London Metal Exchange was the standout performer at the close of trading on Monday July 6, with turnover at its highest since June 2, while copper futures similarly found momentum over the afternoon, closing above nearby resistance.
- IRON ORE DAILY: Seaborne prices rise on active trading (Mon, 06 Jul 2020 14:30:00 GMT)Iron ore prices rose again on Monday July 6 amid active trading in the seaborne and futures markets.
- COKING COAL DAILY: Seaborne premium prices edge down; sentiment turns negative (Mon, 06 Jul 2020 12:47:00 GMT)Seaborne premium hard coking coal prices edged down on Monday July 6, with no transactions heard and market sentiment turning negative.
- Trinseo donation to help in Michigan flood recovery effort (Wed, 08 Jul 2020 16:05:59 EDT)
MIDLAND, Mich.—Trinseo, a maker of synthetic rubber, is helping both the community and its own employees impacted by Midland flooding.
- Dow begins reopening plants in Texas, Argentina (Wed, 08 Jul 2020 16:05:14 EDT)
MIDLAND, Mich.—Dow has restarted a polyethylene resin plant in Argentina and will restart two additional PE units in Texas this month.
- Growing Cimcorp opens new Georgia facility (Wed, 08 Jul 2020 16:00:48 EDT)
GRIMSBY, Ontario—Strong growth in the U.S. and Mexico has led Cimcorp to open a new, larger office in Georgia, moving from a facility in Norcross in the northern-central portion of the state to Alpharetta, a suburb just north of Atlanta.
- Bridgestone 3.0 will focus on 'sustainable mobility' and advanced solutions (Wed, 08 Jul 2020 15:58:57 EDT)
TOKYO—For Bridgestone, 2020 will mark the beginning of the company's "third foundation,"—or Bridgestone 3.0.
- Auto makers ask EU to delay latest Euro 6 emissions standard (Wed, 08 Jul 2020 15:57:59 EDT)
Faced with a type approval testing backlog because of the coronavirus pandemic, automakers are asking the European Union for more time to clear inventories of cars that will not comply with upcoming pollutant emissions laws.
- GRI opens natural rubber center to support rubber farmers (Wed, 08 Jul 2020 15:23:24 EDT)
COLOMBO, Sri Lanka—GRI recently opened a natural rubber collection center in the Monaragala district of Sri Lanka in order to support local rubber tree planters.
- Carlisle TyrFil program helping forests in Virginia, Arkansas (Wed, 08 Jul 2020 11:43:45 EDT)
CARLISLE, Pa.—Carlisle TyrFil is committing to a pair of reforestation projects in Virginia and Arkansas in cooperation with conservancy group American Forests.
- Dow selling rail assets for more than $310 million (Wed, 08 Jul 2020 11:43:16 EDT)
Dow Inc. is selling its rail infrastructure assets and related equipment at six North American sites in a deal worth more than $310 million.
- Birla Carbon launches global restructuring (Wed, 08 Jul 2020 11:42:43 EDT)
Carbon black supplier Birla Carbon has launched a major restructructuring that will transition its business operations from five geographical regions into one "global functional organization."
- KraussMaffei, Sumitomo will not 'actively' participate in Fakuma 2020 (Wed, 08 Jul 2020 11:39:07 EDT)
Both Sumitomo Demag and Krauss-Maffei have decided not to attend Fakuma 2020.