The latest forecasts from Fastmarkets' team of analysts is ready to view.While much commentary has been written about Asian economies performing far better than those elsewhere this year during the global Covid-19 pandemic, it is stainless steel markets in Europe and the United States that are ending the year in better shape than their Asian counterparts.We do not talk of demand levels or demand g...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.While a world leader in many areas, the United States is a relatively small player when it comes to stainless steel. It produces a small amount of material, both in absolute and relative terms (i.e. compared to the size of its population), while a large share of its industry is in the hands of bigger European companies. Never...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were up significantly across the board this morning, Monday February 22, with all base metals on the LME setting fresh multi- month or year highs.Relief that vaccine programmes are being rolled out across many countries to underpin economic recovery, along with the knowledge that past and future stimulus packages will be...Read More
Regeneron (REGN), a NASDAQ 100 stock moved below $467.00 extending an intermediate downtrend.Healthcare SPDRs (XLV) moved below $114.10 completing a double top pattern.Brazil iShares (EWZ) moved below $34.06 extending an intermediate downtrend.Bank of America (BAC), an S&P 100 stock moved above $34.37 extending an intermediate uptrend. General Electric (GE), an S&P 100 company moved above...Read More
Continued tightness in aluminium supply and improved demand have sparked another sharp increase in aluminium premiums in Europe, for both primary metal and value-added products.The benchmark aluminium P1020A premium, in-whs dup Rotterdam increased to $120-128 per tonne on Friday February 19, up by 3.77% from $117-122 per tonne the previous day and the highest level since reaching $120-13...Read More
The LME copper price was close to $9,000 per tonne for the first time since September 2011 on Friday February 19, on a day when bullishness took hold of the base metals complex, with tin's price also rising significantly - by nearly $1,300. The red metal's three-month price rallied to $8,995 per tonne during trading, before pulling pack slightly to $8,900 per tonne at the 5pm close. The rise...Read More
An overview of the new energy materials markets and their latest price moves. Susan Zou and Sybil Pan...Read More
An overview of the new energy materials markets and their latest price moves. Susan Zou and Sybil Pan...Read More
Key data from Fastmarkets' pricing sessions in Europe and the United States for the week ending Friday February 19.Europe The market edged slightly upward, with around four truckloads purchased at ?,?1,310 ($1,581) per tonne and some sources reporting that cheaper material was no longer available....Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday February 19.China Low-grade seaborne manganese ore prices inched higher on a cif basis amid improved supplier sentiment due to rising logistics costs and the stronger South African rand, which reduces miners' netback in local currency.A steep rise in freight rates widened the gap between...Read More
Copper traders are starting to place bets that the metal will hit $12,000 per tonne by December but market makers say bullishly positioned options are dragging the metal's price higher sooner than that. Targeting March expiry, traders have placed 1,970 lots of call options at $9,000 per tonne on the London Metal Exchange, giving the holder the right to buy the metal if that level is hit; a further...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 latest price moves. Susan Zou and Sybil Pan...Read More
Ferrous scrap prices in the key global markets have gone up in the week to Friday February 19 with stronger steel demand following the return of market participants from China's Lunar New Year holiday.Turkish steel mills resumed their deep-sea scrap purchases at higher pricesUS ferrous scrap exporters seek higher pricesPost-holiday rebound in steel trade drives up scrap import prices in VietnamUpt...Read More
The cost of austenitic alloy steel scrap in the UK and Europe increased again over the past week on higher nickel costs, sources told Fastmarkets on Friday February 19.Fastmarkets' weekly price assessment for stainless steel scrap 18/8 solids, domestic, delivered merchants UK, was ?1,150-1,200 ($1,601-1,670) per tonne on Friday, an increase of ?20 per tonne week on...Read More
Prices for shredded steel scrap imported into India and Pakistan continued to move upward in the week to Friday February 19 on tight supply and challenging shipping conditions, sources told Fastmarkets.IndiaFastmarkets calculated its steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $430.86 per tonne on Friday, up from $415.11 per tonne one week earlier.Two deals were heard this wee...Read More
A summary of Canadian base metals miner Hudbay Minerals' results for the fourth quarter and full year of 2020. Summary: The company's adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) for 2020 decreased by 14.4% to $306.7 million from 2019's full year figure of $358.5 million. This was despite adjusted Ebitda in the fourth quarter growing by 30% year on y...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part firmer this morning, Friday February 19, on the back of expectations for stronger demand from a widespread recovery and due to the underlying momentum.There are potential headwinds - namely the rising US treasury yields and talk that US taxes may have to rise to help pay for the pandemic response a...Read More
New structures to lithium contracts will provide more flexibility to raise prices in response to improving market conditions, United States-based lithium producer Albemarle said during an earnings call on Thursday February 18.The call followed the release of the company's full-year and fourth-quarter financial results for 2020.Eric Norris, the company's president of lithium operations, said that n...Read More
China's domestic lithium carbonate price increased by 4.4% over the week to Thursday February 18 supported by tight supply in the spot market, while the Asian seaborne lithium hydroxide market moved up for the first time in five months influenced by China's price upturn.China's domestic battery-grade lithium carbonate market continued its uptrend supported by spot material shortage, although buyin...Read More