A sharp increase in cobalt prices, coupled with a clearer medium-term demand outlook for the market, has given sellers the upper hand in metal contract discussions - a distinct change since the start of the year - according to sources that spoke to Fastmarkets.The demand picture has been brightened by strong demand from the electric vehicle (EV) market, complemented by the consumer electronics sec...Read More
Cobalt hydroxide suppliers and buyers are in a stalemate after the cobalt futures price on the Wuxi Stainless Steel Exchange tumbled late last week. Fastmarkets' assessment of the cobalt hydroxide payable indicator, min 30% Co, cif China was flat week on week at 93-94% of standard-grade cobalt (low end) on Friday March 5. The indicator is assessed twice weekly on Wednesdays and Fridays. Risk-...Read More
Key data from Fastmarkets' pricing session in China on Friday March 5.Key drivers Domestic producers raised their offers amid continued demand from traders and consumers. Producer sources said they were cautious about selling the limited amount of stock they have on hand because they have not produced any...Read More
Key data from Fastmarkets' pricing session in China on Friday March 5.Key drivers China's cobalt metal price fell further this past week following sharp declines in local futures prices and weak sentiment in the domestic market; most buyers preferred to buy cheap off-grade material. The Chinese...Read More
The Indian silico-manganese export market should cement recent price gains that have pushed up the high end of the range to a level last seen in April 2018 on firm domestic fundamentals that are influencing exporter offer prices, industry sources told Fastmarkets. Indian trade sources said firm domestic demand has encouraged higher export offer prices to customers in Southeast Asia, the Middle Eas...Read More
Base metals prices on both the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Tuesday March 9, with prices generally consolidating after recent weakness, while there are cross currents in the form of bond yields, stimulus and inflation expectations affecting sentiment.* Brent crude oil prices dip back below $70 per barrel after Monday’s move above $71 per bar...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 35 points in pre-opening comments. MasterCard added $4.16 to $375.49 after Mizuho increased its target price from $400 to $430.Cigna advanced $1.00 to $235.86 after Mizuho raised its target price from $229 to $264.Oracle increased $0.49 to $72.65 after KeyBanc Capital increased its target price from $70 to $2.Dicks Spo...Read More
Here are five Fastmarkets stories you might have missed on Friday March 5 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday March 5 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday March 5 that are worth another look....Read More
The turmoil surrounding a creditor of UK-based conglomerate GFG Alliance has raised concerns in the European steel market, Fastmarkets heard on Friday March 5.On March 3, German financial watchdog Bundesanstalt f? 1/4 r Finanzdienstleistungsaufsicht (BaFin) imposed a moratorium on Greensill Bank, which is the key funding facility for GFG Alliance, Fastmarkets heard.In particular, BaFin has ordered...Read More
ArcelorMittal Nippon Steel India (AM/NS India) has signed a memorandum of understanding (MoU) with the government of Odisha, India to build an integrated steel plant in Odisha with a capacity for 12 million tonnes per year, it announced on Thursday March 4.The plant will be set up in the Kendrapara district and the investment is reported to be 500 billion rupees ($6.87...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 3 that are worth another look.A crackdown on industrial activity in Tangshan, China's steelmaking hub, is sending jitters throughout the sector. Fastmarkets examines what it means for the steel industry.Glencore has appointed BMO...Read More
Here are five Fastmarkets stories you might have missed on Friday March 5 that are worth another look....Read More
Here are five Fastmarkets stories you might have missed on Friday March 5 that are worth another look....Read More
A key topic reverberating around the Asian steel market over the past month has been the possibility of China reducing steel export rebates to 9% from the current 13%, or possibly axing them altogether.Market chatter on this topic has grown increasingly louder, with industry sources in China hearing more and more details about these plans from late January onward."This is likely in line with China...Read More
Base metals prices on the London Metal Exchange were weaker this morning, Monday March 8, but prices on the Shanghai Futures Exchange were mainly stronger while they caught up with the gains on the LME on Friday.* Brent crude oil prices over $70 per barrel following missile attack in Saudi Arabia* United States Senate passes $1.9 trillion stimulus billBase metalsLME three-month base metals prices...Read More
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Dow Jones Transportation Average and its related ETF: IYT moved to all-time highs in early trade. U.S. insurance iShares (IAK) moved above $73.88 to an all-time high extending an intermediate uptrend. Pre-opening Comments for Monday March 8thU.S. equity index futures were lower this morning. S&P 500 futures were down 10 points in pre-opening trade. The U.S. Dollar Index continued to strengthen...Read More
The turmoil surrounding a creditor of UK-based conglomerate GFG Alliance has raised concerns in the European steel market, Fastmarkets heard on Friday March 5.On March 3, German financial watchdog Bundesanstalt f? 1/4 r Finanzdienstleistungsaufsicht (BaFin) imposed a moratorium on Greensill Bank, which is the key funding facility for GFG Alliance, Fastmarkets heard.In particular, BaFin has ordered...Read More