Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were, for the most part, a lot stronger this morning, Monday May 10, but broader markets were mixed.* Friday’s United States employment report was much weaker than expected, suggesting the Federal Reserve will remain on its current tack* That report boosted equities, reducing the likelihood of a broader market c...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade.Wholesale gasoline prices in the U.S. rose $0.03 to $2.16 per gallon after the Colonial Pipeline was shut down by a cyber attack.Marriott dropped $1.69 to $145.00 after reporting lower than consensus first quarter revenues.Expedia added $0.54 to $174.00 after Susquehanna raised its target...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
Here are five Fastmarkets stories you might have missed on Friday May 7 that are worth another look.South American flat steel import prices rose during the week to May 7 as Chinese mills were only beginning to return from the country's 5-day Labor holiday, and material...Read More
China's new tax regime for ferrous raw materials and steel exports will kick off a new era for the steel sector, one in which demand and supply will become more balanced and the country cuts its dependency on iron ore at a faster pace. Chinese authorities announced last week that, from May 1, import duties for metallics and semi-finished steel would be removed and that export duties for raw materi...Read More
German steel companies Thyssenkrupp Steel and H? 1/4 ttenwerke Krupp Mannesmann (HKM) and the Port of Rotterdam Authority are to jointly investigate setting up international supply chains for hydrogen. Thyssenkrupp Steel and HKM will require large and increasing quantities of hydrogen to produce steel without coal as part of their transformation paths towards climate-neutral steelmaking. Both comp...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.The upward momentum in United States' flat product prices is yet to show any signs of slowing, with US HRC prices hitting new record highs during April. Steel supply is forecast to remain short of demand due to no improvement in underlying supply and demand fundamentals, which is propelling US flat product prices higher...Read More
Trafigura is in talks with Cliveden Trading to acquire copper purchase and sale contracts from the Zug-based trading house, sources with knowledge of the matter told Fastmarkets.Talks were held between the two companies this week, with Trafigura potentially taking on a portion of Cliveden's copper book, subject to conditions, two sources who declined to be named because the discussions were confid...Read More
High primary aluminium prices and premiums in Europe prevented market participants there from achieving a higher low-carbon aluminium differential throughout April, sources told Fastmarkets on Friday May 7.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $10-15 per tonne Friday May 7, flat compared to the last assessment on April 1.Offers as high as $...Read More
Metal merchants for years ploughed credit into Liberty Commodities, the trading unit of GFG Alliance, even while banks quietly shunned the company.In separate instances related to nickel and copper deals dating to 2016, blue-chip banks including ICBC Standard Bank, Sberbank and Commonwealth Bank of Australia (CBA) have abruptly halted financing of commodity trades made by Liberty after finding irr...Read More
Here are five Fastmarkets stories you might have missed on Thursday May 6 that are worth another look.Recent changes in Chinese tax policy have resulted in significant rises in the prices for steel billet and finished long steel products from the CIS and...Read More
Trafigura is in talks with Cliveden Trading to acquire copper purchase and sale contracts from the Zug-based trading house, sources with knowledge of the matter told Fastmarkets.Talks were held between the two companies this week, with Trafigura potentially taking on a portion of Cliveden's copper book, subject to conditions, two sources who declined to be named because the discussions were confid...Read More
Chrome and platinum concentrates producer Tharisa acquired 100% of the shareholding of Salene Chrome Zimbabwe on March 31, it has announced.Tharisa agreed a $3 million acquisition from Leto Settlement of an open-pit chrome project, now at the development stage, in Zimbabwe's Great Dyke, the company said in a statement published on Wednesday May 5. Tharisa is based in Europe but operates principall...Read More
Key data from Fastmarkets' Friday May 7 pricing sessions in China, India, Europe and the United States.China Seaborne low- and high-grade manganese ore markets recovered after deals were signed at higher prices for June shipment, and sentiment reacted to stronger downstream markets. Portside low- and high-grade manganese ore prices stayed firm with increased demand from smelters due to profitable...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou, Yingchi Yang, and Sybil...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Prices for inter-merchant light iron scrap in the UK increased over the week ended Friday May 7, extending a general rally since late March, sources have told Fastmarkets.The market was likely to move higher, they added, given strong business conditions for European scrap exports into Turkey and the Indian subcontinent.UK monthly deliveries into domestic consumers in May were likely to be settled...Read More
The price of austenitic stainless steel scrap in the UK increased this week on an uptick in nickel costs and persistently strong market fundamentals, Fastmarkets heard on Friday May 7.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,200-1,260 ($1,668-1,751) per tonne on Friday, up from ?1,150-1,230 per tonne a week previously.Th...Read More