China's domestic and export prices for stainless steel maintained their upward trend over the past week despite lower demand than the preceding week.Nickel losses since last Friday sapped demand for stainless steel products, market sources said.The three-month nickel contract on the London Metal Exchange ended Tuesday August 11's official trading session at $14,185 per tonne, down by $248 per tonn...Read More
Applied Materials (AMAT), a NASDAQ 100 stock moved above $66.95 to an all-time high extending an intermediate uptrend. Target price was raised by Mizuho and Stifel Nicolaus this morning. Pre-opening Comments for Friday August 14thU.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Index futures moved slightly higher following release of...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday August 12.Please click...Read More
The three-month price of copper on the London Metal Exchange was higher at the close of trading on Wednesday August 12, with high turnover during the day prompting a push beyond key resistance levels, while a morning inflow of 15,225 tonnes of zinc saw selling pressure continue into the close.Copper's outright price closed at $6,432.50 per tonne on Wednesday afternoon, up from an intraday low of $...Read More
ABN Amro will end its financing activities of commodity clients globally, it said on Wednesday August 12.The Dutch bank will stop all non-European corporate financing, which accounts for around 45% of its current client loan portfolio, and will wind down units in the United States, Asia, Australia and Brazil, in a process expected to take around three to four years."The Trade & Commodity Finance a...Read More
Nickel plate premiums in China were unchanged this week after the arbitrage window remained firmly shut, dampening import demand for the metal, but nickel pig iron (NPI) and nickel sulfate prices fared better with both registering decent gains this past week.Elsewhere, the traditional summer slowdown across Europe and the United States kept premiums in both regions flat this week.Lack of import ap...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
Domestic ferrous scrap prices in Germany have increased month on month so far in August, supported by a recovery in international raw material prices and solid demand from German mills, sources told Fastmarkets on Wednesday August 12.Fastmarkets' monthly price assessment for steel scrap No E3 (old thick steel scrap), domestic, delivered mill, Germany, was ?,?225-240 ($265-282) per tonne on August...Read More
Steel producers in Turkey continued to stay away from the deep-sea scrap market and maintained their focus on the finished long steel markets, sources said on Wednesday August 12.Turkish steelmakers have booked a number of cargoes in recent weeks, with the latest transactions for HMS 1&2 (80:20) from the US and Baltic Sea done at $285 per tonne cfr.But the mills went quiet in the deep-sea markets...Read More
Increased choppiness in the base metals in recent days suggests the bullish and bearish camps are getting more balanced and a new fight for supremacy is unfolding. This morning, Wednesday August 12, the bears have the upper hand, with base metals prices down on the London Metal Exchange and Shanghai Futures Exchange - both complexes were down by an average of 1.4% as at 6.20am London timeWider mar...Read More
Key data from the Wednesday August 12 pricing session in Shanghai.Key drivers Cobalt metal prices in China dropped after local futures prices lost over 5% day on day on Tuesday amid generally sluggish summer demand, however, spot quotations have not fallen as quickly as futures prices...Read More
The Wuxi Stainless Steel Exchange plans to launch electronic trading contracts for cobalt sulfate in September, to align with the development of the electric vehicle (EV) sector in China, a spokeswoman for the exchange told Fastmarkets on Wednesday August 12. Cobalt sulfate is a key chemical used in the production of nickel-cobalt-manganese (NCM) lithium-ion batteries that are used in EVs, and Chi...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
Domestic prices for hot-rolled coil increased over the week to Wednesday August 12 in Northern and Southern Europe, despite the seasonal market slowdown, sources have told Fastmarkets.Steelmakers have been seeking to achieve further price rises, according to market participants.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was calculated at ?,?417.27 ($490.54) per...Read More
Domestic prices for heavy steel plate in Southern Europe were stable over the week to Wednesday August 12, although Italian re-rollers continued to push for a price rise.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was unchanged over the week at ?,?450-470 ($529-553) per tonne on August 12.The assessment was based on deals heard in early August at ?,?...Read More
Here are five Fastmarkets stories you might have missed on Wednesday August 12 that are worth another look.ABN Amro will end its financing activities of commodity clients globally, it said on August 12.The London Metal Exchange's latest data shows a rise of 109,968 tonnes of off-warrant...Read More
Consumption of steel end-products by Turkey increased by 8.7% year-on-year in January-June 2020, while crude steel production decreased by 16.3% compared with the first six months of 2019, the Turkish Steel Producers' Association (TCUD) said on Tuesday August 11.The TCUD believed that the decline in production was a consequence of exports decreasing as a result of quota regimes in external markets...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to March 31, 2020.In briefEarnings were down because "the negative effect of Covid-19 damped the positive volume trend [seen by Ezz Steel] at the beginning of the first quarter of 2020... Export quantities suffered the most," according to Paul Chekaiban, chairman and managing director...Read More