Amazon (AMZN), a NASDAQ 100 stock moved above $3,344.29 to an all-time high extending an intermediate uptrend. Autodesk (ADSK), a NASDAQ 100 stock moved above $251.39 to an all-time high extending an intermediate uptrend. Twitter (TWTR), a NASDAQ 100 stock moved above $40.26 extending an intermediate uptrend. Abbott Labs (ABT), an S&P 100 stock moved above $102.89 to an all-time high extending...Read More
Steel buyers in Thailand are reselling distressed hot-dipped galvanized coil from China after the southeast Asian country started preliminary anti-dumping duties of 35.67% on imported Chinese cold-rolled galvanized steel on August 3. A Tianjin-based trader told Fastmarkets that at least 100,000 tonnes of Chinese HDG were stuck at Thailand ports recently due to the costly tax, forcing buyers there...Read More
The Baowu Steel Group, China's largest steelmaker, is now the controlling shareholder of the Taiyuan Iron & Steel Group (Tisco), the country's second-largest producer of stainless steel, the latter has announced.Shanxi province's State-owned Assets Supervision & Administration Commission, which owned all of Tisco's shares, transferred 51%...Read More
Taiyuan Iron & Steel (Tisco), China's second-largest stainless steel producer, suspended the trading of its stock on the Shenzhen Stock Exchange on Friday August 21 following an announcement on Thursday evening that there will be a change in its controlling shareholder.Market participants expect the Baowu Steel Group, the country's largest producer of carbon steel, to replace Shanxi province's Sta...Read More
The three-month copper price on the London Metal Exchange continued to lose momentum on Friday August 21, slipping below$6,500 per tonne.Copper's three-month price on the LME closed at $6,482.50 per tonne on Friday afternoon, falling from an intraday high of $6,650 per tonne, on a day that saw 17,690 copper lots traded by the 5pm close.Copper's benchmark cash/three-month spread was recently tradin...Read More
Fastmarkets copper concentrate treatment and refining charge (TC/RC) index continues to set new lows and has done for three weeks in a row. Major Chinese smelters are well-stocked for the third quarter, with Collahuasi, Cerro Verde and some clean brands reported being bought in the high $40s, Fastmarkets heard. Traders' buying levels are heard to be in a range of high $30s to low $40s,...Read More
Three-month base metals prices on the London Metal Exchange were mostly down during morning trading on Friday August 21 after the release of key purchasing managers' index (PMI) data out of Europe disappointed, while copper futures took the brunt of the decline over the morning in a 1.2% drop. Copper's outright price on the LME was recently seen at $6,535 per tonne, slipping below nearby resistanc...Read More
An overview of the battery raw materials markets and the latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday August 21.China Seaborne manganese ore prices slipped after sentiment was undermined by weakening domestic portside ore and spot alloy markets. Portside ore prices fell after traders lowered their offer prices to attract buying interest. Many alloy smelters, however, retreated from the market over th...Read More
Key data from the pricing sessions in Europe, China and the United States in the week ended Friday August 21.China Domestic ferro-silicon prices held steady with firm offer pricesSome ferro-silicon smelters and silica ore plants in Ningxia province are currently under government inspection, which might impact their production and thus lead to a price upswing in the market once alloy availability t...Read More
Fastmarkets copper concentrate treatment and refining charge (TC/RC) index continues to set new lows and has done for three weeks in a row. Major Chinese smelters are well-stocked for the third quarter, with Collahuasi, Cerro Verde and some clean brands reported being bought in the high $40s, Fastmarkets heard. Traders' buying levels are heard to be in a range of high $30s to low $40s,...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Government incentives will help solidify a future shift to cleaner energy, in addition to buffering electric vehicles (EVs) from the trend of declining sales faced by the wider automotive sector during the Covid-19 pandemic, attendees heard during a Fastmarkets webinar this week. "The question with incentives is always whether they just pull sales forward, and to some extent, we do feel like that...Read More
Asian import scrap prices continued to rise in the week to Friday August 21 amid solid demand in Vietnam, Taiwan and South Korea, but buyers in Turkey remained away from the market while the Indian market softened.Turkish mills face weak lira, low long-steel demand, and want lower scrap pricesUS export markets quiet with lack of recent sales from East CoastVietnamese import scrap prices benefit fr...Read More
The price of containerized ferrous scrap imports into India was little changed this week, ending its six-week rally, following other global markets' pause in buying activity, sources told Fastmarkets on Friday August 21. Fastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India at $309.47 per tonne on Friday, just 17 cents down from $309.64 per tonne one week pre...Read More
Markets were for the most part upbeat this morning, Friday August 21, with all of the base metals on the London Metal Exchange firmer, as were most Asian-Pacific equities, although they are firmer within consolidation patterns.But after the accelerated gains at the start of the week, with the S&P 500 regaining all the losses suffered from the coronavirus hit and with the base metals now on average...Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ended Friday August 21.China Seaborne manganese ore prices slipped after sentiment was undermined by weakening domestic portside ore and spot alloy markets. Portside ore prices fell after traders lowered their offer prices to attract buying interest. Many alloy smelters, however, retreated from the market over th...Read More
An overview of the battery raw materials markets and the latest price moves.Read More
The cobalt market has consolidated recent gains and sellers are now looking at an anticipated return of consumer demand in Europe to stoke further price increases, but not all market participants are certain this will materialize. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam stood at $15.25-15.50 per lb on Friday August 21, unchanged from the previous day. The sta...Read More
Import prices for flat-rolled steel in South America increased once again through the week to Friday August 21, to the levels seen before the Covid-19 pandemic, with October-shipment negotiations with all supplying regions being concluded at higher levels.There were reports of some deals to meet residual needs for October shipments during the period, and customers - particularly those on the Pacif...Read More