Here are five Fastmarkets stories you might have missed on Monday August 9 that are worth another look.On August 9, there was a blast at Novolipetsk Steel's (NLMK) oxygen plant in Lipetsk, Russia, but it will only have a minor impact on production, the company told Fastmarkets.The trade...Read More
Heavy rain in the upper and middle reaches of the Changjiang River has led to lower activity at construction sites, pushing down spot market rebar prices on Monday August 9.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, down by 20 yuan per tonneHeavy rain in certain parts of Sichuan, Chongqing, Hubei, Hunan, Jiangxi, Guizhou and Yunnan, have had a serious impact...Read More
Heavy rain in the upper and middle reaches of the Changjiang River has led to lower activity at construction sites, pushing down spot market rebar prices on Monday August 9.DomesticEastern China (Shanghai): 5,180-5,220 yuan ($800-806) per tonne, down by 20 yuan per tonneHeavy rain in certain parts of Sichuan, Chongqing, Hubei, Hunan, Jiangxi, Guizhou and Yunnan, have had a serious impact...Read More
Trading activity in the European hot-rolled coil market has been low in the week to Friday August 6 due to the start of the summer slowdown.Sufficient buyer stocks and slow August activity have weakened trading but activity should recover between the end of August and the first half of September, sources said.Most domestic producers only had HRC available from fourth-quarter rolling material, whil...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. American National Insurance is expected to open higher after Brookfield Reinsurance agreed to acquire the company at $190 per share cash. Value of the deal is $5.1 billion.Berkshire Hathaway added $2.89 to $288.52 after reporting higher than consensus second quarter earnings. Dollar Tree...Read More
Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a ‘flash crash’ at the start of trading in Asia.* Signs of a stronger US recovery weighed heavily on gold and silver on Friday, which led to a chaotic start to trading this m...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 6.Susan Zou, Yingchi Yang and...Read More
The US Dollar Index was at its highest since July 27 and was weighing on London Metal Exchange base-metal prices in the afternoon of Friday August 6, with all metals ending the week below where they were on Monday.The US index touched a week-and-a-half high of 92.84 on Friday afternoon, following the release of positive employment data in the country.There were 943,000 jobs added to the US economy...Read More
Spot buying appetite from Chinese copper smelters remained low in the week to Friday August 6, with standard tonnages being traded in the mid to high $50s per tonne range.Deals for blended cargoes of lower-grade copper concentrate were reported in the low $60s per tonne. Regional power restrictions in China have led to copper smelters bringing forward their maintenance plans which created reduced...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 6.Susan Zou, Yingchi Yang and...Read More