Buyers have started withdrawing from the spot market in key importer Vietnam in the week to Friday January 15 due to growing sentiment of a price downtrend, market sources told Fastmarkets.

After further weakness in the base metals on Monday January 11, that saw the complex close down by an average of 1.5%, prices were up across the board on the London Metal Exchange this morning but those on the Shanghai Futures Exchange base metals prices were down across the board while they followed yesterday’s performance on the LME.

Mining and metals producer Assmang has declared force majeure on its medium-carbon ferro-manganese production in South Africa, a source told Fastmarkets this week.

Base metals prices were for the most part weaker during morning trading on Monday January 11, while the dollar was firmer in line with strong US treasury yields.

The prices of steel scrap imported into India and Pakistan moved up in the week to Friday January 8 despite a dull and uncertain market, sources have told Fastmarkets.

Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks’ time.

Freight Investor Services (FIS) completed the first brokered trade of the CME Group’s cash-settled cobalt futures contract on Thursday January 7, the company told Fastmarkets.

Global palm oil prices are expected to remain firm in the first quarter of 2021 as supply will only recover later in the year...

Markets remained upbeat on the morning of Thursday January 7 despite the outbreak of violence in Washington, DC, with nickel joining copper and tin in setting fresh new multi-month highs but gold turning lower.

Fastmarkets is proposing to launch a weekly import price assessment for steel billet on a cfr China basis.