China's domestic rebar prices held steady on Monday July 20 despite an increase in demand, with the futures and billet markets weakening during the day.Domestic Eastern China (Shanghai): 3,560-3,590 yuan ($509-514) per tonne, unchangedRainfall has decline in eastern and southern China in recent days, which resulted in a strengthening of demand for rebar from the construction sector. But weakening...Read More
Three-month base metals prices on the London Metal Exchange were subdued during morning trading on Monday July 20, with thin volume keeping most metals range-bound, while a continued downtrend in LME copper stocks kept the metal's underlying price elevated. Yet sideways trading comes amid continued caution surrounding the European Union's economic summit, which continues this week and sees economi...Read More
Markets were mixed across the board this morning, Monday July 20, with traders focused on the prospects for a recovery fund from the European Union, while the weak Japanese export data highlights the economic damage that Covid-19 has dealt.Japan's exports dropped by 26.2% year on year in June......auto exports to the United States were particularly hard hit.Base metals Three-month base metals pric...Read More
Cobalt metal is trading at the time of publication in mid-July at prices around an 11-month low since breaking through a price floor just above $15 per lb that had been set in December 2019.The Covid-19 pandemic has badly affected global industry including the production of cobalt-containing products, and has clouded the outlook for future consumption, outweighing the effects of the supply disrupt...Read More
Export prices for China-origin silicon rose last week despite persistently lackluster demand from abroad, with Chinese exporters raising their offers in line with a strengthening domestic market.Fastmarkets' weekly price assessment for silicon export 98.5% Si min, fob China was $1,380-1,410 per tonne on Friday July 17, up by $30-50 per tonne (3%) from $1,330-1,380 per tonne a week earlier.Sources...Read More
Key data from the Friday July 17 pricing sessions in London and Shanghai.Key drivers Spot cobalt hydroxide payables moved up after buyers attempt to secure units amid persistent tight availability by bidding at higher levels, with majority of these bids...Read More
Markets were for the most part stronger this morning, Tuesday July 21, encouraged by the €750 billion ($858 billion) recovery fund that European Union leaders agreed on in the early hours of this morning. Markets were also being boosted by hopes that progress is being made on Covid-19 vaccines and ongoing concerns about supply disruptions, while participants seem content to look past the curr...Read More
Mondelez (MDLZ), an S&P 100 stock moved above $54.30 resuming an intermediate uptrend.Lululemon (LULU), a NASDAQ 100 stock moved above $324.76 to an all-time high extending an intermediate uptrend.Paccar (PCAR), a NASDAQ 100 stock moved above $79.38 and $80.00 extending an intermediate uptrend.Skyworks Solutions (SWKS), a NASDAQ 100 stock moved above $138.22 to an all-time high extending an in...Read More
(Updates with prices) By Zandi Shabalala LONDON, July 20 (Reuters) - Copper held steady near atwo-year high on Monday, under pressure as new cases of thenovel coronavirus threatened to stall any revival in the globaleconomy and in metals demand.Three-month copper on the London Metal Exchange wasup 0.1% to $6,410.50 by 1750 GMT. A week ago the metal touched apeak of $6,633 a tonne, the highest sinc...Read More
Here are five Fastmarkets stories you might have missed on Friday July 17 that are worth another look.Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.It has not been an easy year so far for Peru's zinc and lead mining companies after the coronaviru...Read More
Here are five Fastmarkets stories you might have missed on Friday July 17 that are worth another look.Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.It has not been an easy year so far for Peru's zinc and lead mining companies after the coronaviru...Read More
Here are five Fastmarkets stories you might have missed on Friday July 17 that are worth another look.Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.It has not been an easy year so far for Peru's zinc and lead mining companies after the coronaviru...Read More
Here are five Fastmarkets stories you might have missed on Friday July 17 that are worth another look.Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.It has not been an easy year so far for Peru's zinc and lead mining companies after the coronaviru...Read More
Here are five Fastmarkets stories you might have missed on Friday July 17 that are worth another look.Imports of long products to the European Union dropped during the first four months of 2020 year on year due to the toxic combination of the effect of Covid-19 on consumption and rising protectionism.It has not been an easy year so far for Peru's zinc and lead mining companies after the coronaviru...Read More
Markets were mixed across the board this morning, Monday July 20, with traders focused on the prospects for a recovery fund from the European Union, while the weak Japanese export data highlights the economic damage that Covid-19 has dealt.* Japan’s exports dropped by 26.2% year on year in June...* ...auto exports to the United States were particularly hard hit.Base metals Three-month base me...Read More
More strength in gold stocks! Franco-Nevada (FNV), a TSX 60 stock moved above US$152.39 to an all-time high extending an intermediate uptrend. Another Canadian gold stock breakout! Yamana Gold (YRI), a TSX 60 stock moved above Cdn$7.78 to a six year high extending an intermediate uptrend. Yamana is seeking a listing on the London Exchange.Open Text (OTEX), a TSX 60 stock moved above US$44.05 and C...Read More
Crude steel output in Italy decreased by 7.88% year on year in June due to the decrease in steel demand amid the effects of the Covid-19 lockdown measures, Italian steel association Federacciai said on Friday July 17.The county's crude steel production totaled 1.92 million tonnes in June 2020, down from 2.08 million tonnes in the same months of 2019.The June decrease, however, was less then the re...Read More
A summary of Rio Tinto's second-quarter iron ore production report released on Friday July 17.In brief Output from Pilbara operations in Western Australia increased by 4% year on year and by 7% quarter on quarter.Shipments from the Pilbara rose by 1% year on year and by 19% quarter on quarter despite operational controls made in...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.Prices hold, pipe buying stalls Seamless prices remained broadly stable in much of the world this month - with the notable exception of falling Japan fob prices, because oil and gas producers have been less inclined to fight for premium products as they cut their capital expenditure - but this was not the result of a balance...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:Upward momentum in US domestic sheet steel prices came to a halt in the second half of June, wiping out earlier gains. Although the prices of hot-rolled coil (HRC), cold-rolled coil (CRC) and hot-dipped galvanized coil (HDG) increased on a monthly average basis, the d...Read More