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10 Feb 2017 by Metal-Pages
WEEK IN REVIEW: Metals wait for their turn in the spotlight

LONDON (Metal-Pages) 10-Feb-17.  Cobalt prices broke through $18/lb resistance this week, rising to a nearly six-year high, helped by investor appetite for the metal set to benefit from the electric vehicles growth.   With limited availability from producers and trade inventory held in few hands, supply to the spot market is constrained. The increase in prices is yet to bring shuttered capacity back online, and in the meantime traders are targeting the next $19-20/lb level.   But most other metal markets were still looking for direction after the public holidays in China as suppliers and buyers are starting to return to the market.  Antimony suppliers are also looking for a price increase, as the idling of smaller plants in China on environmental grounds is leaving fewer but larger producers with a stronger position in the market. Prices rose to a four-month high this week, and sellers are targeting $8,000/t level, but against resistance from buyers.   A reduction in prices of manganese and chrome ores since January has not yet impacted ferro-alloys, and this week saw increases in prices of ferro-chrome in the US and of ferro-manganese in Europe on buying interest and tightening supply. There were indications that manganese prices may be bottoming out in Europe although cheaper shipments booked before the new year holidays in China are due to arrive later this month, and the market in China is waiting for buyers to come back.   This week saw the new US president, who has publicly favoured import taxes, take a more conciliatory tone with China as Goldman Sachs analysts sounded alarm bells about a potential trade war between two countries. And an EU-China business meeting in Brussels raised the prospect of liberalisation of European-China trade even if the US opts to put up barriers. “If others are closing their doors, ours is still open. As long as the trade is fair,” EU Trade Commissioner ...

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Headlines
Base metals
Fri 15:41 China's Shandong Steel signs debt swap deal with ICBC
Fri 15:39 US silicon: Prices steady with demand
Fri 12:05 LatAm steel sector shows signs of recovery in 1Q
Fri 12:03 Importers say China steel scrap exports overstated
Fri 12:01 Mt Cattlin completes 2016 Li deliveries
Fri 11:29 Mt Thirsty cobalt project makes progress
Fri 11:27 Brazil's Votorantim 1Q zinc production falls
Fri 11:08 Latin American steel demand to rise in 2017-18
Fri 10:32 Poseidon may reopen Silver Swan Ni mine
Fri 10:14 Comex Cu: Copper up on short covering
Fri 10:13 Stainless: Asia prices edge down
Fri 10:11 US stainless: 304 scrap tumble
Minor and specialty metals
Fri 15:41 China's Shandong Steel signs debt swap deal with ICBC
Fri 15:39 US silicon: Prices steady with demand
Fri 12:05 LatAm steel sector shows signs of recovery in 1Q
Fri 12:03 Importers say China steel scrap exports overstated
Fri 12:01 Mt Cattlin completes 2016 Li deliveries
Fri 11:45 China’s Tianqi to raise lithium carbonate output in June
Fri 11:29 Mt Thirsty cobalt project makes progress
Fri 11:26 China’s magnesium output rises in 1Q
Fri 11:08 Latin American steel demand to rise in 2017-18
Fri 10:51 Europe minor metals: Antimony, molybdenum prices fall
Fri 10:13 Stainless: Asia prices edge down
Fri 10:11 US stainless: 304 scrap tumble
Ferro Alloys
Fri 15:41 China's Shandong Steel signs debt swap deal with ICBC
Fri 15:37 India’s Berry Alloys to boost Mn alloy capacity
Fri 12:05 LatAm steel sector shows signs of recovery in 1Q
Fri 12:03 Importers say China steel scrap exports overstated
Fri 12:01 Mt Cattlin completes 2016 Li deliveries
Fri 11:31 China’s HBIS cuts June FeMo tender price
Fri 11:29 Mt Thirsty cobalt project makes progress
Fri 11:08 Latin American steel demand to rise in 2017-18
Fri 11:04 US FeTi: Prices up on mill, cored wire demand
Fri 11:02 US noble alloys: Prices rise on steel mill buying
Fri 11:00 US bulk alloys: Prices rise on increased demand
Fri 10:48 Europe bulk alloys: FeSi prices move lower
Fri 10:46 Europe noble alloys: FeV, FeMo prices fall
Fri 10:14 South Africa’s UMK raises Mn ore export price for July
Fri 10:13 Stainless: Asia prices edge down
Fri 10:11 US stainless: 304 scrap tumble

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