Falling dollar buoyed LME aluminium prices...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issu...Read More
Aluminium The LME three-month aluminium price closed down...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus down...Read More
Tighter refined market conditions in H1...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue a...Read More
Supply deficit expanded to 42,000...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon...Read More
Bullish news flow continues We have noted in...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest is...Read More
LME tin prices under accelerating selling...ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue...Read More
Gains stall above $2,500 per tonne The LME three-month benchmark is consolidating above $2,400 per tonne at the start of this week after dollar-driven price gains stalled around $2,500 per tonne last week. Smelter output starts accelerating... The latest ILZSG data showed refined output contracted by 1% year on year in January-May, as disruptions at smelters in India (-7.1%), Canada (-3.8%) and Ja...Read More
ACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the latest issue as soon as it’s published.SubscribeRead More
Click here to download the Selected Demand IndicatorsACCESS RESTRICTEDTo read the rest of this analysis please take a free sample or subscribeFREE SampleReceive a free sample of market analysis and price forecasts.Free SampleSUBSCRIBEReceive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts.Plus download the lat...Read More
Against a backdrop of poor economic growth, especially in Germany and China, and in the absence of fresh news, markets seem to be content to consolidate this morning, Tuesday July 23.This is especially so ahead of the release of flash manufacturing purchasing managers’ index (PMI) data on Wednesday and the European Central Bank (ECB) rate decision on Thursday. Base metalsThe three-month base...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 10 points in pre-opening trade. Index futures responded to news that the U.S. Congress reached a two year bipartisan agreement to raise the U.S. debt ceiling.Intel added $0.70 to $52.05 on news that the company is negotiating to sell its modem business to Apple for more than $1 billion.Coca Cola gained $0.98 to $52.20...Read More
Billet prices in most markets around the world declined after producers lowered their asking prices amid sluggish demand from buyers. But it remains unclear if the rebound in the bellwether Turkish scrap market will provide support for billet prices because Turkish mills were unable to achieve higher prices for sales of billet and rebar. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More
Billet prices in most markets around the world declined after producers lowered their asking prices amid sluggish demand from buyers. But it remains unclear if the rebound in the bellwether Turkish scrap market will provide support for billet prices because Turkish mills were unable to achieve higher prices for sales of billet and rebar. Fastmarkets' daily index for steel scrap, HMS 1&2 (80:20 mix...Read More
Here are five Fastmarkets MB stories you might have missed on Friday July 19 that are worth another look.The London Metal Exchange will continue to push forward with relaxing its queue-based rent capping (QBRC) rule, a key area of warehousing reform, to 80 days, sources told Fastmarkets. Fastmarkets understands that there was a warehousing committee meeting on Thursday July 19, during which p...Read More
Here are five Fastmarkets MB stories you might have missed on Friday July 19 that are worth another look.The London Metal Exchange will continue to push forward with relaxing its queue-based rent capping (QBRC) rule, a key area of warehousing reform, to 80 days, sources told Fastmarkets. Fastmarkets understands that there was a warehousing committee meeting on Thursday July 19, during which p...Read More
Rising tension over Iran and a reduction in expectations on the size of the next US Federal Reserve rate cut were weighing on sentiment this morning, Monday July 22.Last week the market started to price-in a 50-basis-point cut in the US benchmark interest rate at the Federal Open Market Committee’s (FOMC) July 30-31 meeting, but now a 25-basis–point cut now seems more likely as the proba...Read More
U.S. equity index futures moved higher this morning. S&P 500 futures were up 9 points in pre-opening trade.Walt Disney gained $1.40 to $141.25 after its latest movie, the relaunched "The Lion King" booked $185 million sales over the weekend in the U.S. Crude Oil added $0.64 to $56.27 after Iran captured a British licenced tanker near the Straits of Hormuz late on Friday. Halliburton gained $0....Read More
BHP expects its Western Australia Iron Ore operations to produce 273-286 million tonnes of the steelmaking raw material on a 100% basis over the next 12 months amid a significant maintenance program at the Port of Port Hedland, from which it ships its cargoes abroad."As part of this, a major car dumper maintenance campaign is planned for the September 2019 quarter, with a corresponding impact expe...Read More
Czech steelmaker Liberty Ostrava is increasing its steel prices by ?,?20 ($23) per tonne to partially offset an increase in production costs, the company told Fastmarkets on Tuesday July 16. "Recent increases in raw materials and energy costs and the prevailing steel prices in Europe necessitate an immediate response to avoid further margin squeezes for our steel business," the company said.O...Read More
Turkish steel producers remained quiet in the deep-sea scrap markets, awaiting some signs of recovery in the finished steel sector, sources said on Tuesday July 16.The last verified scrap deal was on July 9 when a steel mill in the Iskenderun region booked a UK cargo at $288 per tonne cfr for HMS 1&2 (80:20).Since then, Turkish steel mills have stayed away from the deep-sea markets...Read More