Base metals prices were for the most part weaker during morning trading on Monday January 11, while the dollar was firmer in line with strong US treasury yields.Asian-Pacific equities were mixed, while pre-market major western equity index futures were weakerBase metalsThree-month base metals prices on the London Metal Exchange were for the most part weaker this morning, the exceptions were lead (...Read More
Biogen (BIIB), a NASDAQ 100 stock moved above $254.00 and $254.41 completing a base building pattern.Lockheed Martin (LMT), an S&P 100 stock moved below $334.78 setting an intermediate downtrend. Pre-opening Comments for Monday January 11thU.S. equity index futures were lower this morning. S&P 500 futures were down 27 points in pre-opening trade. The U.S. Dollar moved higher in overn...Read More
Aluminium primary foundry alloy (PFA) premiums in the United States and Germany climbed on Friday January 8 as demand outpaced limited supply in those countries. United StatesFastmarkets assessed the aluminium primary foundry alloy silicon 7 ingot/T-bar premium, dlvd dup over P1020A Midwest US at 8.5-10 cents per lb on Friday, up by 19.4% from 7-8.5 cents per lb last month.The premium is at its hi...Read More
An overview of the new energy raw materials markets and their latest price moves in the past week.Read More
Three-month zinc and nickel both fell by more than 2% on Friday January 8, with the LME base metals ending the week with pullbacks from the highs reached in the first days of 2021 after a US Dollar Index rebound.Zinc's three-month price was down 2.6% at the 5pm close on Friday at $2,813.50 per tonne, compared with Thursday's closing price of $2,888 per tonne. Nevertheless, the...Read More
An overview of the new energy raw materials markets and their latest price moves in the past week.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 8. China Seaborne prices for both low- and high-grade ore soared after miners successfully raised their February offer prices following recent increases in the portside ore market. Bullishness in the alloy sector and yuan appreciation spurred buyers' purchasing appetite. Portside...Read More
Alumina exports from Brazil continued to grow in December, contributing to higher volumes in full-year 2020, while Alunorte, the world's largest refinery, recovered its capacity usage throughout the year, data from the country's economy ministry showed on Thursday January 7.Brazilian alumina exports totaled 864,533 tonnes in December, up by 58.6% from 545,095 tonnes in the corresponding period of...Read More
Spot trading of copper concentrates was quiet in the last week of December 2020, with fewer purchases by both smelters and traders.Fastmarkets' copper concentrate treatment and refining charges (TC/RCs) dropped slightly, with offers for copper concentrates to smelters remaining in the mid to high $40s per tonne, while smelters bid $50 per tonne for clean qualities. A combo deal of Bisha and clean...Read More
An overview of the new energy raw materials markets and their latest price moves in the past week.Read More
An overview of the aerospace materials markets and their latest price moves.Ewa Manthey in London, Ruby...Read More
Turkish steel mills continued to refresh their scrap stocks in the week to Friday January 8, with fresh deep-sea cargoes booked at higher prices, while concerns increased over tight supply in Asia, with China entering the market.Turkish mills book more cargoes for February-March at escalating pricesUS East Coast exporters enjoy demand from Turkish producers; West Coast lacks fresh dealsVietnamese...Read More
The British light iron market this week hit a high last seen in April 2013 due to strong export demand in Turkey for European exports, prompting a surge in UK demand for tightening domestic supplies, trade sources told Fastmarkets. Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant, UK was ?130-145 ($177-197) per tonne on Friday Janua...Read More
The prices of steel scrap imported into India and Pakistan moved up in the week to Friday January 8 despite a dull and uncertain market, sources have told Fastmarkets.IndiaFastmarkets calculated the steel scrap, shredded, index, import, cfr Nhava Sheva, India, at $479.33 per tonne on Friday, up from $458.02 per tonne on December 31.Offers this week were in the range of $480-485 per tonne, up from...Read More
Base metals prices were pausing and precious metals were mainly on a back footing this morning, Friday January 8, with sentiment generally bullish on the prospects for greater fiscal spending out of the United States when Joe Biden becomes the president in a few weeks' time. Asian-Pacific equities generally upbeat, along with pre-market western equity index futures US 10-year treasury yields conti...Read More
An overview of the new energy raw materials markets and their latest price moves in the past week.Read More
China's domestic battery-grade lithium carbonate market hit a 14-month high in the first trading week of the year after the price rose by 8% week on week on Thursday January 7 on soaring offer prices and heightened buying appetite.China's battery-grade lithium carbonate price hit a 14-month high due to continued tight supply and producers hiking up prices further. Chinese industrial-grade lithium...Read More
Freight Investor Services (FIS) completed the first brokered trade of the CME Group's cash-settled cobalt futures contract on Thursday January 7, the company told Fastmarkets. Five lots were traded for each month of the February-April 2021 period at $16.75 per lb, according to the United Kingdom-headquartered brokerage.The CME Group's cash-settled cobalt futures contract, which is tied to Fastmark...Read More
Most flat-rolled steel import prices declined in South America during the week ended Friday January 8, reversing a two-month uptrend after remaining unchanged during the year-end holidays.Slower domestic demand in China resulted in some lower offers from mills and some short selling from traders, according to market participants. Additionally, there were reports of many Chinese steelmakers refrain...Read More
ArcelorMittal has increased its official spot offer prices for coil products across Europe by ?,?30-50 ($37-61) per tonne effective immediately, sources told Fastmarkets on Friday January 8.New offers for hot-rolled coil have increased to ?,?730 per tonne ex-works, up by ?,?30 per tonne. New offers for hot-dipped galvanized coil moved up by ?,?50 per tonne to ?,?850 per tonne ex-works. Official of...Read More