Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were weaker this morning, Monday April 12, while markets contend with cross winds.* United States treasury 10-year yields have pulled back from recent highs* Federal Reserve Chairman Jerome Powell said US economy at an “inflection point” with growth and hiring set to accelerate* Markets wary of US earnings seas...Read More
India ETF (PIN) moved below $23.36 and $23.84 setting an intermediate downtrend.Vietnam ETF (VNM) moved above $18.75 extending an intermediate uptrend.US Bancorp (USB), an S&P 100 stock moved above $57.61 to an all-time high extending an intermediate uptrend.Bausch Health (BHC), a TSX 60 stock moved below Cdn$37.83 completing a Head & Shoulders pattern.TCOM (TCOM), a NASDAQ 100 stock moved...Read More
Automotive manufacturer Volvo Group and Swedish steelmaker SSAB have signed a collaboration agreement for the research, development, serial production and commercialization of the world's first vehicles to be made of fossil-free steel, the companies said on Thursday April 8. Volvo plans to start the production of concept vehicles and components produced from steel made by SSAB using hydrogen this...Read More
Hybrit, the joint venture involving Swedish steelmaker SSAB, iron-ore producer LKAB and power company Vattenfall, will build a hydrogen storage facility as part of its plans for fossil-free steel production, it announced on Wednesday April 7. Hybrit will build a rock cavern storage facility for fossil-free hydrogen gas next to its pilot facility for direct reduction in Lule??, Sweden.The inve...Read More
Tata Steel's recycling business in India is to offer domestically produced shredded material to the Indian market, adding to its existing offering, the company told Fastmarkets on Wednesday April 7.Yogesh Bedi, chief of Tata Steel Recycling Business, told Fastmarkets the company was in the final stages of commissioning a shredder, which would let the company offer domestically produced shredded sc...Read More
Proposed changes to the London Metal Exchange's market structure may actually have the opposite effect to its desired intention: destroying liquidity, not increasing it.Attention has been focused on the proposed permanent closure of the LME ring, the incentivization of electronic trade and changes to margin methodology, which were central issues in the exchange's recently closed discussion paper.B...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
The latest forecasts from Fastmarkets' team of analysts is ready to view.With nickel prices down by almost 20% over the space of around ten days during late February and early March, one might have been expecting us to be reporting sharply-lower prices of stainless steel, at least for the most common nickel-containing grades of stainless steel.This is not the case, at least in Europe and the Unite...Read More
Aluminium billet premiums across the globe were at multi-year or all-time highs on Friday April 9 due to supply tightness, logistics issues and firm demand.EuropeBillet premiums in Europe continue to rise, with sellers increasing their offers and supply exceptionally tight. Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $750-800 per tonne on Fr...Read More
Base metal futures prices roundly dropped day on day on Friday trading in London but ended largely higher than the week while markets continue to digest mixed news out of China and the United States.At $2,264 per tonne, the three-month aluminium price was down by 0.94% against Thursday's 5pm close but was up 1% against Tuesday's market open of $2,240 per tonne.The three-month copper price closed a...Read More
KAZ Minerals will be taken private after acquirer Nova Resources received enough shareholder votes to accept its $5.6 billion offer for the company.As of 1pm on April 9, Nova Resources - a vehicle backed by KAZ Minerals chief executive officer Oleg Novachuk and Kazakhstan's richest man, Vladimir Kim -owned or had had offer acceptances for shares representing 89.17% of the company at 850 pence ($11...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday April 9. China China's ferro-silicon price has fallen, in line with steel mills' lower tender prices for 72%-grade alloy and ample inventories, with less inquires and deals made.Export prices also fell during the past week, with overseas demand remaining subdued....Read More
KAZ Minerals will be taken private after acquirer Nova Resources received enough shareholder votes to accept its $5.6 billion offer for the company.As of 1pm on April 9, Nova Resources - a vehicle backed by KAZ Minerals chief executive officer Oleg Novachuk and Kazakhstan's richest man, Vladimir Kim -owned or had had offer acceptances for shares representing 89.17% of the company at 850 pence ($11...Read More
Copper smelters were still looking for May and June shipments this week, while traders were also actively acquiring copper concentrate in the tightly supplied market, sources told Fastmarkets on Friday April 9.Fastmarkets' copper concentrates treatment charge/ refining charge(TC/RC) index, cif Asia Pacific, dropped to low $20s/2 cents this week for the first time.Smelters in China have been b...Read More
An overview of the aerospace materials markets and their latest price moves.Ewa Manthey and Michael Greenfield in...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
Major global steel scrap markets have started to level off in recent days following sharp increases in the preceding few weeks.High supply hits Turkish import market again US export prices rise in sales to Turkey Vietnamese import prices keep rising despite calmer steel markets Chinese buyers re-enter market for bulk cargoes at higher prices Taiwan import prices stabilize following recent rises In...Read More
The price for UK light iron scrap narrowed upward in the week to Friday April 9 as a result of the rising international market in key export destinations, sources told Fastmarkets.Fastmarkets' price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?145-155 ($199-213) per tonne on Friday, up by ?5 per tonne on the low end of the range from ?140-155 per t...Read More
Copper smelters were still looking for May and June shipments this week, while traders were also actively acquiring copper concentrate in the tightly supplied market, sources told Fastmarkets on Friday April 9.Fastmarkets' copper concentrates treatment charge/ refining charge(TC/RC) index, cif Asia Pacific, dropped to low $20s/2 cents this week for the first time.Smelters in China have been b...Read More