The metals were looking robust this morning, Wednesday November 18, and for the most part are managing to drive higher despite concerns about the rapid spread of Covid-19 and some mixed economic data of late.Asian Pacific equities were mixed this morning, as were major western equity indices on Tuesday......but major western equity indices are weaker this morning, suggesting some concern about the...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers Prices rallied in Europe for the second consecutive week, with consumers and traders needing to restock inventories amid soaring shipping costs. The cost of shipping has jumped worldwide due to a combination of fewer vessels on the water, an imbalance in trade flows to and from China, and competition between...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda and Declan Conway contributed...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday November 18.Key drivers The ferro-titanium spot price in Europe increased, marking 13 weeks of persistent increases in line with scrap tightness and renewed demand from consumers in the steel sector.Suppliers reported deals done, or heard, for more than 500 tonnes of standard-grade ferro-titanium for prompt shipment, with a couple o...Read More
The cobalt alloy grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it...Read More
The cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt...Read More
The cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed cobalt hydroxide p...Read More
Key data from Fastmarkets' pricing session in China on Wednesday November 18. Key drivers Several major suppliers held back from offering, thus tightening the supply of spot material.Consumers with solid demand but limited raw material stocks had to accept much higher prices to meet their prompt production needs. Key quotes"We have received a large number of inquiries...Read More
The South African chrome ore market dipped in the week ended Tuesday November 17 in response to the availability of ample material in China.Fastmarkets' chrome ore South Africa UG2 concentrates index, basis 42%, cif China, was $134 per tonne on Tuesday, down by $2 per tonne (1.5%) from $136 per tonne a week earlier."The decrease in ferro-chrome tender pricing, coupled with a wave of new offers fro...Read More
The base metals were consolidating recent gains but generally holding up near high ground this morning, Thursday November 19 – this despite some nervousness emerging in wider markets about the rapid spread of Covid-19.* Asian Pacific equities were mixed this morning, but major European equity indices were down while they tracked Wednesday’s weakness in US markets* Gold prices also weaker...Read More
Junior Gold Equity ETF (GDXJ) moved below $51.27 extending an intermediate downtrend. Pre-opening Comments for Thursday November 19thU.S. equity index futures were lower this morning. S&P 500 futures were down 9 points in pre-opening trade.Index futures moves slightly lower following release of the November Philly Fed Index and Weekly Jobless Claims report at 8:30 AM EST. Consensus for the Phi...Read More
Here are five Fastmarkets stories you might have missed on Tuesday November 17 that are worth another look.Flat steel import prices in the United Arab Emirates (UAE) have increased over the past week because of a shortage of hot-rolled coil and globally strong demand, sources said on November 17.Alvance, the...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 17. Please click...Read More
Aluminium's three-month price on the London Metal Exchange was among the best performers at the end of trading on Tuesday November 17, with prices stabilizing after a bullish trading session on Monday. The three-month price for the light metal rose by 1.36% from Monday's closing price, to reach $1,977.50 per tonne on Tuesday. A price above $1,970 per tonne for aluminium has not been...Read More
A summary of base metals premiums from across the globe for the week to Tuesday November 17. Please click...Read More
An overview of the chrome ore and alloy markets and their latest price moves. China UG2 buyers attempted to push down prices amid additional volumes of off-spec material being available on the market. Some buyers made lower bids, citing rising port inventory and their bearish outlook for the alloy sector, while some decided to buy...Read More
Fastmarkets proposes to amend the specifications of its manganese ore 44% Mn index.For its manganese ore 44% Mn, cif Tianjin, $/dmtu index, Fastmarkets proposes to change the silica content to a base of 10% and a max 15%, from a base of 11% and max of 12%, in its specifications in response to product changes in the market.The current specifications are:MB-MNO-0001 Manganese ore 44% Mn, cif Tianjin...Read More
Turkish steel mills did not book any additional cargoes on the second day of the week following a recent rise in prices, sources told Fastmarkets on Tuesday November 17.The mills steered clear of deep sea scrap cargo purchases again on Tuesday, with some backing away from the market on concerns that prices had become too high after the recent jump."Some people are cautious because prices have...Read More
Alvance, the aluminium division of GFG Alliance, is proposing to invest in a new recycling and casting facility that will almost double output at its Fort William, Scotland, plant and continue its growth as a low-carbon production hub. The proposed ?94 million ($124.1 million) investment replaces a previously-approved alloy wheels factory due to a significant decline in the UK automotive sector....Read More
Markets were generally buoyant this morning, Tuesday November 17, following news that a second coronavirus vaccine is showing good results, which is underpinning many equity indices at or near record highs, although the base metals on the London Metal Exchange were consolidating. Asian Pacific equities were mainly higher, following gains on major western equity indices on Monday......but major wes...Read More