The latest forecasts from Fastmarkets' team of analysts is ready to view.Recent weeks have brought two key developments with regard to trade policy on stainless steel products that will be to the detriment of consumers.In China, the country's stainless steelmakers no longer enjoy a 13% export rebate as of May 1, reducing greatly their incentive to export and instead leading them to focus on supply...Read More
Seaborne iron ore prices inched down on Monday September 13 due to weak buying interest from end users, sources said.Fastmarkets iron ore indices62% Fe fines, cfr Qingdao: $123.84 per tonne, down $5.87 per tonne62% Fe low-alumina fines, cfr Qingdao: $124.16 per tonne, down $6.09 per tonne58% Fe fines high-grade premium, cfr Qingdao: $97.99 per tonne, down $6.13 per tonne65% Fe Br...Read More
Base metals prices on the London Metal Exchange were lower across the board at 5pm on Monday September 13, after coal prices continued to trade downward and strength was seen in the US dollar.The US Dollar Index reached a high of 92.89 on Monday, the highest level seen for more than two weeks and shoring up the current weakness across the base metals complex.The three-month nickel price came under...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key ferro-alloy forecast highlights:?EUR? Impressive advances in ore and alloy prices persisted in March, with most markets posting significant price gains. Strengthening demand from steelmakers along with supply shortages and depleted inventories in numerous markets, as well as freight and transportation...Read More
London Metal Exchange ring dealing members have a decision to make - whether to remain one or not.The LME has just announced it will reopen the open outcry trading floor, which was temporarily closed due to Covid-19, on September 6.Its plan, however, comes with a twist; some ring dealers say, a knife.The official prices - which the global trade and industry use as the global reference for physical...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.United States sheet prices hit record highs again in May, with upward momentum carrying into June. Actual US HRC prices averaged $1,712 per tonne in May, largely in line with our forecast of $1,698 per tonne. Strong underlying supply-and-demand conditions both in the US and globally are supporting prices as well as long lead...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Base metals prices were mixed on both the LME and the SHFE this morning, Monday September 13. But while the mood in broader markets remains somewhat negative, the base metals seem to be entering the post-summer period in a more bullish mood.There is a barrage of key Chinese economic data out this week, which the market is likely to watch closely for signs that the Chinese economy is slowing.Base m...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
Here are five Fastmarkets stories you might have missed on Friday September 10 that are worth another look.The International Rebar Producers & Exporters Association (Irepas) continues to believe that prospects for the global long steel-products market remain satisfactory for the rest of 2021.Secondary aluminium ingot prices in...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 25 points in pre-opening trade.WTI crude oil added $0.42 to $70.14 per barrel after Tropical Storm Nicholas entered oil producing areas in the Gulf of Mexico.Amazon slipped $15.01 to $3469.15 despite a target price increase by Goldman Sachs to $4200Apple added $0.98 to $149.95 prior to expected launch of its iPhone 13...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Swedish steelmaker SSAB will deliver fossil-free steel to Finnish provider of cargo and load handling solutions Cargotec for cargo handling equipment manufacturing, SSAB said on September 8.SSAB and Cargotec will work together on the introduction of fossil-free steel to the cargo handling industry. The companies will start coordinated development toward the use...Read More
Activities at the S??o Francisco do Sul port, in Brazil's southern Santa Catarina state, resumed after a truckers' road blockade prevented normal operations during this past week, a spokesperson for the port's operator told Fastmarkets on Friday September 10.According to a report from the country's infrastructure ministry, blockades ended entirely on Friday. Demonstrations that broke out across Br...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More