London Metal Exchange three-month base metals prices were trading up on the previous day's close during the morning session on Wednesday October 21, boosted by hopes of an imminent US fiscal stimulus package and increased government-sanctioned Chinese infrastructure spending.Republicans and Democrats in the US Senate remain in a stalemate over a financial bailout plan in the lead-up to the preside...Read More
Half of the base metals prices on the London Metal Exchange have in recent days risen to multi-month highs, with copper reaching levels not seen since June 2018, and all of the metals are pushing higher this morning, Wednesday October 21. Some strike action in copper in Chile has added fuel to copper's rally High expectations for a further stimulus ahead of the US presidential election has boosted...Read More
An overview of the consumers electronics markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday October 21.Key drivers The ferro-titanium spot price range moved up by 10 cents per kg over the week, with persistent tightness in scrap supply from a slump in the aerospace sector propelling prices upward. Market participants expect the alloy market rally to extend into November and potentially further while steelmakers look to sec...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process it applies. Fastmarkets...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparency into the markets it covers and the pricing process...Read More
The cobalt sulfate 20.5% Co basis, exw China, yuan/tonne trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt...Read More
Turkish steelmaker Colakoglu Metallurgy, until now a producer of rebar and hot-rolled coil, has started to produce special-grade hot-rolled flat stainless steel at its facility in Kocaeli, chief executive officer Ugur Dalbeler told Fastmarkets this week.The company produced grades 304 and 304L material at its mill last week, the first time these products have been produced in Turkey, Dalbeler said...Read More
A summary of South32's production results for its manganese ore and alloy business in the financial year ended September 30, 2020, as stated in its quarterly report released on Monday October 19. In brief: Total manganese ore grew by 3% year on year and 19% quarter on quarter. The company attributed a 3% quarterly increase in Australian manganese ore production to favorable ore grades...Read More
The arrival of lower-priced cargoes and weakening downstream demand weighed on the market for UG2 chrome ore in China in the week ended Tuesday October 20, although liquidity was light.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, fell by $4 per tonne (-2.9%) to $135 per tonne on Tuesday, from $139 per tonne a week earlier."More people are looking to sell than...Read More
Trafigura is preparing to table an offer for Brazilian miner Vale's embattled nickel and cobalt operations (VNC) in the French territory of New Caledonia in the South Pacific, sources told Fastmarkets on Tuesday October 20.Fastmarkets understands that the Geneva, Switzerland-headquartered trading house is part of a consortium with four French companies.A source said that current negotiations...Read More
The US nickel briquette premium continued to ascend in the week to Tuesday October 20 amid increased spot business at higher levels while lackluster appetites kept all other regional premiums stable over the period. Spot deals for US briquettes enlivened at higher levels, pushing the premium up from historic lows hit in September. Sustained lack of arbitrage opportunities in China kept premiu...Read More
Base metals prices on the London Metal Exchange were weaker this morning, Thursday October 22, this after a day of general strength on Wednesday that saw copper prices climb, intraday, back above $7,000 per tonne.* Concerns that an additional stimulus package in the United States may struggle to get agreed before the presidential election has weighed on sentiment.* Forecasts from the International...Read More
CSX Corp.(CSX), an S&P 100 stock moved above $81.40 to an all-time high extending an intermediate uptrend following release of higher than consensus third quarter earnings. Pre-opening Comments for Thursday October 22nd 2020U.S. equity index futures were lower this morning. S&P 500 futures were down 7 points in pre-opening trade. Index futures were virtually unchanged following relea...Read More
A summary of base metals premiums from across the globe for the week to Tuesday October 20.Please click...Read More
Fastmarkets is proposing to amend the settlement criteria for its MB-AL-0001 aluminium P1020A (MJP) quarterly premium, cif Japan, $ per tonne.This year, and in part due to the consequences of the Covid-19 pandemic, market dynamics have shifted, and fewer participants engaged in the MJP quarterly contractual discussions, with some choosing not to take part at all.Fastmarkets believes that there may...Read More
London Metal Exchange three-month base metals prices except aluminium were trading up at the close on Tuesday October 20, buoyed by an upswing in United States equities markets. US stock markets opened higher today, bolstered by the looming deadline for a regional stimulus package to fight the fallout of Covid-19. So while talks in the US senate went down to the wire, LME buyers and sellers had th...Read More
An overview of the chrome ore and alloy markets and their latest price moves.China UG2 chrome ore prices fell on subdued buying interest with buyers reportedly holding ample stocks while considerable port inventories and lower portside prices weighed on the market. ...Read More
Here are five Fastmarkets stories you might have missed on Tuesday October 20 that are worth another look....Read More