Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday August 7 that are worth another look....Read More
Markets are looking mixed this morning on Monday August 10, while traders weigh up the cross winds blowing through the markets, Fastmarkets learned.United States President Donald Trump’s intervention to step in to extend unemployment benefit after Congress failed to come up with a rescue package has provided some support, but his executive orders focused on Chinese tech companies only go furt...Read More
Morning Technical Notes for August 10thDow Jones Industrial Average (DJIA) moved above 27,580.21 extending an intermediate uptrend.Dow Jones Industrial Average ETF (DIA) moved above $275.37 extending an intermediate uptrend. Nike (NKE), a Dow Jones Industrial Average stock moved above $104.69 and 105.07 to an all-time high extending an intermediate uptrend. Midcap 400 SPDRs (MDY) moved above $354....Read More
China's finished steel exports continued to fall on a year-on-year basis in July, but imports maintained an upward trend, according to customs data released on Friday August 7.July exports: 4.18 million tonnes, down by 25% from July 2019,...Read More
The aluminium industry neither deserves nor can afford the shock that would come from the United States' reintroduction of Section 232 tariffs on imports from Canada, according to Aluminum Association president and chief executive officer Tom Dobbins. Citing the latest government data from the US Census Bureau, Dobbins noted that US imports of primary aluminium from Canada were nearly 5% lower in...Read More
Brazil-based steelmaker Gerdau expects the metal spread in its North America division to remain stable in the coming months after the company was able to secure ferrous scrap at competitive prices, chief executive officer Gustavo Werneck said on Wednesday August 5.The company's metal spread - the premium between finished steel prices and scrap costs - averaged $415 per short ton in North America d...Read More
Sometimes it is better to let a situation speak for itself. Alcoa, Rio Tinto Aluminium, Novelis, Constellium, Arconic, Kaiser Aluminum, Tri-Arrows Aluminum, American Metal Chemical Corp, Hydro Extrusion North America, JW Aluminum, Real Alloy, Reynolds Consumer Products, Scepter, Silberline Manufacturing Co, Smelter Service Corp and Wagstaff. The US Aluminum Association, which represents more than...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Heavy rains in China, which can negatively affect iron ore supplies and pig iron production, and bolster demand for scrap, continued in July 2020. Although this was more an upside risk to our bearish base case one month ago, Chinese scrap prices remained strong. The firm prices gained support from the rains and from a more g...Read More
The Midwest aluminium premium soared by 5 cents on Friday August 7, logging its largest increase since Fastmarkets began assessing this premium in January 2003, with traders boosting offers on replacement cost considerations after the US reintroduced Section 232 tariffs on Canadian aluminium.Fastmarkets assessed the aluminium P1020A premium, ddp Midwest US at 16-17 cents per lb on August 7, up by...Read More
The three-month copper price on the London Metal Exchange was the laggard at the close of trading on Friday August 7, with news of planned restarts at several of Chilean producer Codelco's operating facilities suppressing buying momentum.Meanwhile, lead futures declined by more than 2% but stayed above nearby support levels into the close.Copper's outright price on the LME closed at $6,308 per ton...Read More
The return of Section 232 tariffs on imports of Canadian aluminium has made European market participants nervous of excess stock arriving from Canada, which could pressure premiums, Fastmarkets heard on Friday August 7.United States President Donald Trump announced on Thursday August 6 that the US will reintroduce Section 232 tariffs on imports of non-alloyed unwrought aluminium from Canada - set...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday August 7.China Seaborne 37% manganese ore prices rose again after some miners increased their offers on a steady appetite among buyers looking to average their purchasing costs at relatively lower levels. The seaborne 44% price moved up as well, partly buoyed by the rising portside prices. Portside...Read More
Higher spot transaction volumes for copper concentrates were reported with Chinese smelters starting to procure for fourth quarter production and pressuring processing charges to a new low this week. Higher transaction volumes were reported in the spot market for copper concentrates with Chinese smelters starting to procure for fourth quarter production, pressuring processing charges to a ne...Read More
Key data from the pricing sessions in Asia, Europe and the United States during the week ending Friday August 7. China There was a stand-off in the UG2 chrome ore market, with some suppliers pushing up their offers and also lower bids reported. The imported charge chrome market had already priced...Read More
An overview of the minor metals markets and their latest price moves.Read More
Key data from Fastmarkets' pricing session in Europe on Friday August 7. Key drivers Prices moved higher in all five daily price assessment this week, stoked by concern in China over availability of metal. Hydroxide payables continue to strengthen on limited supply, which has pushed some companies to buying metal...Read More
European domestic prices for stainless steel scrap have increased over the past week, supported by the higher cost of nickel, sources told Fastmarkets on Friday August 7.Fastmarkets' weekly price assessment for stainless steel scrap, 18/8 solids, domestic, delivered merchants UK, was ?850-880 ($1,118-1,157) per tonne on Friday, up by ?10 per tonne from ?840-870 per tonne on July 31.The assessme...Read More