China's domestic prices for stainless cold-rolled coil increased over the week ended Wednesday December 10, supported by gains in the nickel market and steady end-user demand.The three-month nickel contract on the London Metal Exchange ended the Wednesday official session at $16,519 per tonne, up by $613 per tonne (3.9%) $15,906 per tonne a week earlier. DomesticStainless steel cold-rolled coil 2m...Read More
The supply of copper and brass scrap has shrunk in the United States despite a consistently high base price, keeping copper scrap discounts relatively tight compared with the Comex copper price.On the other hand, the prices of all brass scrap grades assessed by Fastmarkets rose in the week ended Wednesday December 9, continuing to gain strength after hitting more than two-year highs last week.The...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 26 points in pre-opening trade. Index futures were virtually unchanged following release of the U.S. November Producer Price Index. Consensus was an increase of 0.1% versus a gain of 0.3% in October. Actual was up 0.1%. Excluding food and energy, consensus for the November Producer Price Index was an increase of 0.2%...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
The nickel briquette premium in the United States showed a significant decline on Tuesday December 8, largely prompted by aggressive selling, with some market participants seeking to reduce premiums in order to capture business.Meanwhile, the price in China for nickel pig iron (NPI) continued its decline, while European market participants reported significantly lower prices being achieved in annu...Read More
Chilean miner Codelco has increased the US benchmark copper premium for 2021 supply of cathode to traders, though the premium for most end users is flat, a source with direct knowledge of the matter confirmed on Wednesday December 9."For the [copper supply to the United States], it was not a rollover in general," the source told Fastmarkets. "[Codelco has] increased premiums for most traders; [the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Key information from the pricing session for Fastmarkets' alumina index, fob Australia on Wednesday December 9.Fastmarkets' alumina index, fob Australia is at its highest level since March 18, 2020, up 30% from the year-to-date low of $224.48 per tonne on April 15. Key drivers Two new deals concluded late on December 8. The first deal concluded at $295.50 per tonne fob Australia for 30,000 tonnes...Read More
The price paid for low carbon ferro-chrome delivered in Europe rose strongly in the two weeks to December 8 on support from reduced supply and increased transportation costs, sources said, while the high carbon ferro-chrome markets kept stable.Fastmarkets' low carbon ferro-chrome 0.10% C, average 65-70% Cr, delivered Europe assessment rose by 5-6 cents (3.2%) to $1.65-1.88 per lb Cr over the two w...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and Michael Greenfield in London, Susan Zou...Read More
Turkish steel mills continued to book deep-sea scrap cargoes for February shipment at increasing prices, which are being driven up by improving steel and billet values, sources said on Wednesday December 9.A steel mill in the Marmara region booked a European cargo, comprising 15,000 tonnes of HMS 1&2 (75:25) and 15,000 tonnes of a mixture of bonus, busheling and plate & structural (P&S) at an...Read More
Aurubis, Europe's biggest copper producer, posted improved earnings in its latest annual results, largely thanks to higher scrap refining charges (RC) since its acquisition of recycling firm Metallo in May 2020. For its financial year to September 30. 2020, Aurubis' operating earnings before taxes (EBT) grew by 15% to ?,?221 million ($268 million) year on year, the company said...Read More
The base metals remain upbeat this morning, Wednesday December 9, with all the metals on the London Metal Exchange in positive territory on hopes that a US stimulus package may be on the way.The potential headwinds - political tensions between the United States and China, a no-deal Brexit and the continuing out of control spread of the virus, are for now taking a backseat. China's consumer price i...Read More
Here are five Fastmarkets stories you might have missed on Wednesday December 9 that are worth another look.Domestic prices for hot-rolled coil increased substantially across Europe in the week to December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Alcoa...Read More
Hot-rolled coil prices in the United States have resumed their uptrend, with buyers on the sidelines waiting for mills to open their order books amid limited material availability, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, fob mill US was calculated at $44 per hundredweight ($880 per short ton) on Wednesday December 9, up by 0.64% after slipping to $43.72 per cwt on...Read More
Domestic prices for hot-rolled coil increased substantially across Europe in the week to Wednesday December 9 due to a materials shortage in the market combined with good demand from distributors, sources told Fastmarkets.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?603.33 ($730.77) per tonne on Wednesday, up by ?,?25.83 per tonne from ?,?577.5...Read More
A summary of the financial results for Egypt's biggest steelmaking group, Ezz Steel, for the period from January 1 to September 30, 2020.In briefNet sales were down because of globally weak demand due to the Covid-19 pandemic, Ezz Steel said on Tuesday December 8.The effects of the pandemic included "a significant drop in construction activity, contributing to this decrease [in sales]," it added.E...Read More
Steel wire rod prices in the south of Europe moved up again in the week to Wednesday December 8, driven by tight availability of material and increasing feedstock costs, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?520-530 ($630-642) per tonne on Wednesday, up by ?,?10 per tonne from ?,?510-520 per...Read More