Here are five Fastmarkets stories you might have missed on Friday October 2 that are worth another look.The UK will maintain a tariff rate quota on certain steel imports, similar to the one currently in place, once the country has finally left the European Union.Primary aluminium stocks at the...Read More
Here are five Fastmarkets stories you might have missed on Friday October 2 that are worth another look.The UK will maintain a tariff rate quota on certain steel imports, similar to the one currently in place, once the country has finally left the European Union.Primary aluminium stocks at the...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade.AT&T slipped $0.23 to $28.45 after KeyBanc Capital downgraded the stock from Sector Weight to Underweight.MyoKardia jumped $83.38 to $221.98 and Bristol Myers eased $0.46 to $58.26 after Bristol Myers offered to acquire MyoKardia in a deal valued at $13.1 billion. Bristol Myers will p...Read More
The UK will maintain a tariff rate quota on certain steel imports, similar to the one currently in place, once the country has finally left the European Union.A report from the office of the UK Secretary of State for International Trade said this week that a tariff rate quota will apply to 19 steel product categories, including hot-rolled, cold-rolled and galvanized coil; carbon and stainless...Read More
Brazilian iron ore exports surged by 18.5% on the year in September, according to figures released by the country's economy ministry on Thursday October 1.Exports amounted to 37.86 million tonnes last month, compared with 31.94 million tonnes a year earlier.This is the first increase on a year-on-year...Read More
The London Metal Exchange three-month copper price made an impressive comeback on Friday October 2, gaining 3.5%, amid strong turnover, on a day of positive moves for many of the base metals.The LME three-month copper price, which had tumbled 5.1% on Thursday, in its deepest sell-off since March 18, closed the day on Friday at $6,566 per tonne, with just over 24,000 lots traded.Fastmarke...Read More
An overview of the battery raw materials markets and their latest price moves. Read More
The benchmark fob Australia alumina index hit a three-month low on Friday October 2 with wide availability of cargoes and weak demand pressuring the market.Fastmarkets' daily alumina index, fob Australia was at $264.19 per tonne on Friday, down from $268.54 per tonne at the start of the week. The index is now at its lowest since July 9. A deal concluded on Thursday at $264 per tonne fob Western Au...Read More
An overview of the battery raw materials markets and their latest price moves. Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 2. China Tight availability of spot materials continued to consolidate the stability of domestic prices, with producers taking a firm stance on the higher costs of raw materials - including silica ore and semi-coke.The low end of export prices climbed by...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday October 2. China The seaborne price for the low-grade manganese ore slid further amid weakening market sentiment, falling portside prices and growing stocks. High-grade index was supported higher after miners refused to lower offers and some Chinese buyers accepted the price. Ports...Read More
Fastmarkets' copper concentrate treatment and refining charge (TC/RC) index moved down slightly on Friday October 2, with market activity light due to China's Golden Week National Day holiday (October 1-8).Fastmarkets' copper concentrates TC index, cif Asia Pacific was at $45 per tonne / 4.5 cents per lb on October 2, down from $45.50 per tonne / 4.55 cents per lb on September 25.Smelters elsewher...Read More
An overview of the battery raw materials markets and their latest price moves. Read More
Prior to the Covid-19 pandemic, 2020 was expected to be an important year for the rollout of 5G networks, with more operator launches globally and declining prices for smartphones and other 5G devices.While the rollout has been disrupted in the short term, the increase in remote working caused by lockdown measures has underscored the need for greater bandwidth capacity along with fast and reliable...Read More
Steel producers in Turkey returned to the deep-sea scrap markets on achieving lower prices in the week ended Friday October 2, while the Asian markets were largely stable amid reduced availability and holiday absences in the territory.Turkish steel mills resume deep-sea bookings, prices downSentiment in US export market negative, with falling pricesVietnamese import prices stable on reduced supply...Read More
The market for inter-merchant light iron scrap in the UK was steady for the third consecutive week on Friday October 2, with tighter supplies meeting firm demand from major shredders, industry sources told Fastmarkets.The supply issues were due to lower volumes being generated from heavy industry while the demand was for material to be used as feedstock in the steelmaking sector, they added.Fastma...Read More
Turkish steel mills continued booking deep-sea scrap at the end of the week after achieving lower deal prices, sources said on Friday October 2.A steel mill in the Marmara region paid $289 per tonne cfr for a Baltic Sea cargo of HMS 1&2 (80:20), while another mill in the same region booked two European cargoes at $284 per tonne cfr on an HMS 1&2 (80:20) basis. ...Read More
Chile expects investment of $74.05 billion in 49 new mining projects during the 2020-29 period, mainly in the copper sector, the country's mining ministry and the Chilean copper commission, Cochilco, said on Wednesday September 30.The latest list of investments in the Chilean mining industry represents an increase of $1.54 billion from $72.5 billion in the previous report, published last year. Som...Read More
Base metals prices on the London Metal Exchange were for the most part weaker this morning, Friday October 2, but our focus is on the broader markets because US President Donald Trump has tested positive for Covid-19, which in itself is a major development, but is also going to have ramifications on the run-up to the presidential election on November 3.Pre-market major western equity index futures...Read More
Nornickel, which had three industrial accidents within seven weeks in the middle of this year and gave up most of its profit for the first half due to a record environmental fine, announced this week that it would invest $1.3 billion in safety improvements in Siberia.Despite a 7% increase in revenues in the first half, Nornickel saw its profit drop by 98.5% compared with the first six months of 20...Read More