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Brazil’s Vale expects to produce 70-75 million tonnes of iron ore fines and pellets in the first three months of 2020, compared with 72.9 million tonnes in the same quarter of this year.
European manganese alloys prices are extending their losses in the spot market in line with weaker demand from the steel sector, and further weighed by persistent falls in manganese ore prices in recent months, industry sources told Fastmarkets.
The export price of ferro-vanadium in China fell again last week, narrowing the price differential with Europe, while the European market rebounded amid improved sentiment after suppliers resisted selling material below the psychological $20-per-kg level.
Cobalt hydroxide buyers’ preference for spot and short-term procurement will persist, adding spot liquidity to the cobalt raw materials market next year, Fastmarkets understands.
Chrome markets weakened again in China in the week ended Friday November 8 on subdued demand and pressure on smelters to generate cash before year-end.