Chemtura Corporation has increased the off-list price of its Reofos® BAPP flame retardant by $0.40/kg, effective October 15, 2007 or where contracts allow.
Reofos® BAPP is a phosphorus flame retardant particularly suited for a number of applications, including PC/ABS used in electronic housings.
Chemtura'; www.chemtura.com .
Chemtura; www.chemtura.com
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Florida-based China Direct Inc said it is raising its 2007 forecasts on strong magnesium prices, and strong performances from its consulting and chemical operations.
Management now sees 2007 revenue exceeding 175 mln usd with net profit of over 9.5 mln, compared to previous guidance of 150 mln and 8.25 mln, respectively.
"The third quarter and remainder of 2007 have been positively impacted by the overall prices for pure magnesium in the global marketplace as well as strong performances from the consulting division and chemical operations," China Direct said in a statement....
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China takes tighter measures to master its rare metal reserves by cutting quotas for tin, tungsten and antimony in 2008, the Ministry of Commerce stated on Tuesday.
From next year, China will cut its tin exports to 33,300 tons from 37,000 tons of the previous year.
The export quota for tungsten will also be cut down to 14,900 tons from 15,400 tons, coupled with antimony of 59,900 tons against 61,800 tons.
The ministry also set molybdenum and indium export quotas at 26,300 tons and 240 tons, respectively.
China has been a leading exporter of nonferrous metals, rich in such rare metal resources as tungsten, tin and molybdenum. As the economy grows at an overwhelmingly fast rate, the demand for energy resources and raw materials jumped tremendously.
With an aim of building a steady and healthy economy, experts suggest that the country should set a new agenda for establishing strategic rare metals reserves.
China will raise the export quota for silver to 4,800 tons from 4,500 tons this year....
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Barring a rise in lead prices due to increased buying interest from consuming industries, other base metal ruled flat on the non-ferrous metal market here on Monday in view of sporadic demand.
Marketmen said increased industrial offtake on the back of higher London Metal Exchange (LME) advices mainly pushed up lead prices. At LME, lead prices gained $140 at $3,710 a tonne on Friday. Lead ingot and imported gained further on renewed buying su pport and finished higher at Rs.138 and Rs.162-172 compared to last levels of Rs.135 and Rs.160-170 a kilo.
Following were today's quotations per kilo: Tin ingot 810, zinc slab 175.00 zinc dross 135, nickel plate (4x4) 1465-1615, (9x9) 1490-1610, (4x24) 1490-1620, cadmium plate 420, Rod 410, antimony (china) 310, gun metal scrap 260, bell metal scrap 260, cop per wire scrap 355, copper super d rod 375, copper wire bar 374, copper mixed scrap 335, C C rod 340, Utensil scrap 315, Mixed scrap 310, Chadripital 255, brass sheet cutting 240, bullet scrap 255, bharat scrap 235, accessories scrap 230, brass boring 23 0-250, brass radiator scrap 220 and huny scrap 250. Lead ingot 135, Lead imported 160-170, Aluminium ingots 135, sheet cutting 130, aluminium wire scrap 125 and Aluminium utensils scrap 122....
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Generally speaking, silicon metal market remains stable during this week, with prices stabilizing at RMB10,600-10,800/t (USD1，421-1,448/t) and RMB11,500-11,800/t (USD1,542-1,582/t) for 5-5-3 and 4-4-1 respectively.
Despite that silicon metal smelters continue insist on high prices, with an excuse that hydro-electricity supply is tight and the government is carrying out the strict policy -the Notice of Preferential Policy on Electricity by Development and Reform Commission, buyers are reluctant to purchase as most consumers are fully covered for the time being.
The price difference between 5-5-3 and 4-4-1 expands because the supply of 4-4-1 is tighter than 5-5-3, as the price of 4-4-1 is around RMB1,000/t (USD134/t) higher than 5-5-3 while the usual price difference is RMB400-500/t (USD54-67/t).
However, high-grade silicon metal market becomes a little active late this week, because smelters receive more enquiries, and some deals are concluded at around RMB12,100/t (USD1,622/t) and RMB12,500/t (USD1,676/t) for 3-3-0-3 and 2-2-0-2 respectively, increased by RMB100/t (USD13/t) compared with that of ten days ago.
Mainstream export prices of 5-5-3 and 4-4-1 are USD1,500-1,520/t FOM CMP and USD1,580-1,600/t FOB CMP, unchanged compared with that of the previous week. Traders told Asian Metal that foreign buyers have no intention of buying as they purchased enough materials in August when silicon metal price was increasing sharply. "Although we receive some inquiries from overseas buyers, they just test the market because they heard that silicon metal price in China is increasing," said most traders.
Silicon metal market in South Korea keeps strong at around USD1,610-1,630/t CIF Pusan for 4-4-1 and USD1,680-1,700/t for 3-3-0-3, same as that of the previous week.
And sources reported to Asian Metal that silicon metal market keeps stable in India during this week, with price of 5-5-3 at USD1,625/t CIF Mumbai, but the local buyers are not ready to increase stockpiles, waiting for the further trend.
European market of silicon metal keeps soaring to around EUR1,800-1,850/t d.d.p for 5-5-3 and EUR1,840-1,880/t d.d.p for 4-4-1 respectively in the week, up by EUR30/t compared with that of the previous week. Participants predict that price of silicon metal may reach EUR1,900/t d.d.p by next year if tight supply continues.
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With the approach of the first round of tender in 2008, Chinese magnesia suppliers put forward their last batch of export license at a high price RMB900-1,000/t (USD120-133/t) against the basic price RMB330/t (USD44/t) at first.
亚洲金属网WN0http://www.asianmetal.cnUFhttp://www.asianmetal.com323QAsianmetal
Running fully on its production capacity of 20,00tpm of magnesia, a Haicheng-based smelter just concluded a deal of 1,000t of high-calcium fused magnesia 97%min at USD450/t FOB with a foreign customer at the closing of last week, up from USD430/t FOB in late September. The shipment will be completed by the end of December.
亚洲金属网WN0http://www.asianmetal.cnUFhttp://www.asianmetal.com323QAsianmetal
"The market price of export license rose by about RMB200/t (USD27/t) in the past three weeks," revealed the source.
亚洲金属网WN0http://www.asianmetal.cnUFhttp://www.asianmetal.com323QAsianmetal
A trader from Dalian will use up its export license bought from other suppliers at RMB750/t (USD100/t) in early September. The source made a contract of 500t of high-calcium fused magnesia 98%min at USD530/t FOB with a Southeast Asian consumer last week, with RMB1,000/t (USD133/t) for export license included. "The main reason is the high price of export license," remarked the source.
亚洲金属网WN0http://www.asianmetal.cnUFhttp://www.asianmetal.com323QAsianmetal
"We are waiting for the next round of tender which will be held in mid-December," said the source.
亚洲金属网WN0http://www.asianmetal.cnUFhttp://www.asianmetal.com323QAsianmetal
According to the source, the supplier refused to offer dead burned magnesia recently due to the small profits margin before this deal.
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Antimony market continues to keep stable in the week. Although some sources reported more inquires came forth from overseas late in the week, still not many deals were seen in the market as demand has not recovered yet. Participants think the antimony market will not change much in the near future.
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Chinese antimony market
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