Cobalt hydroxide payables continued to climb in the first half of the week, with buyers accepting higher offers and the market for June and July cargoes tightening considerably after the past two weeks of restocking. Fastmarkets' cobalt hydroxide payable indicator, min 30% Co, cif China rose to 65-67% of the standard-grade metal price (low-end) on Wednesday May 27, up from 64-66% on Friday May 22....Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday May 27.Key drivers Europe ferro-titanium market drops 20 cents over the week, breaking a steady run of prices for seven straight weeks, amid quiet spot business activity. Deals reported as low as $4.20 per kg, although the bulk of assessments put the price range a bit higher.Expected renewed demand from consumers in the steel sector...Read More
Key data from Fastmarkets' pricing session in China on Wednesday May 27. Key driversDomestic price slid after some producers cut offers further to secure business and generate cash to mitigate their financial strains. A number of other suppliers were reluctant to lower their offers much due to suffering losses at the current price.Many domestic consumers refrained from replenishment this...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures were virtually unchanged following release of economic news at 8:30 AM EDT. Consensus for April Durable Goods Orders was a drop of 19.0% versus a decline of 16.6% in March. Actual was a drop of 17.2%. Excluding Transportation Orders, April Durable Goods Orders was a drop of...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes, equivalent to nearly 4 million tonnes of copper concentrates output, citing the impact of the Covid-19 pandemic.The copper research group now expects a 3% year-on-year decline in world mined copper output in 2020, citing lockdowns that have been in place since March, the group said on Thurs...Read More
LME three-month base metals prices, apart from zinc, closed up on Tuesday May 26, in part driven by the impact of China's ongoing monetary easing policy and the onset of economic restarts across Europe. A speech given today by People's Bank of China governor Yi Gang buoyed London Metal Exchange base metals prices at the beginning of the day's trading, according to INTL FC Stone's Natalie Scot...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
The International Copper Study Group (ICSG) has cut its 2020 global mined copper forecast by 950,000 tonnes, equivalent to nearly 4 million tonnes of copper concentrates output, citing the impact of the Covid-19 pandemic.The copper research group now expects a 3% year-on-year decline in world mined copper output in 2020, citing lockdowns that have been in place since March, the group said on Thurs...Read More
The disconnect between London Metal Exchange and SHFE aluminium prices has opened an arbitrage window to China, but the international aluminium market is wary of taking advantage of it, Fastmarkets understands.The front month aluminium contract on the SHFE last traded at 13,235 yuan ($1,855.41) per tonne on Tuesday May 26, while the LME aluminium three-month price closed at $1,506.50 per tonne on...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
The price range for high-carbon ferro-chrome widened in Europe in the week ended Friday May 22, with industry sources reporting deals agreed for more than 500 tonnes of material.The price spread widened to $0.15 per lb after deals were reported that raised the higher end of the assessment.Trading activity was said by most sources to be quiet, with only one supplier reporting deals done. But the pr...Read More
Mexican ferrous scrap prices were on opposite paths in the week ended Friday May 22, with prices rising in some deals due to a scarcity of material while others fell due to currency moves.Prices for three grades of scrap increased in Monterrey, with at least one client heard quietly purchasing small volumes of specific grades at higher prices.A second client was also considering future price...Read More
Turkish deep-sea scrap import prices remained broadly stable on Tuesday May 26 after news of a fresh cargo came to light. The transaction which came to light on Monday was sold either on Sunday May 24 or Monday May 25, sources said. The market was relatively quiet at the beginning of the week due to a public holidays in many countries on...Read More
Broad markets were stronger this morning, Tuesday May 26, with many Asian-Pacific equity indices up by around 2%, while pre-market major western equities were up by around 1% but metals prices were mixed.Hopes that the reopening of economies will lead to an economic recovery are boosting equities but the United States-China trade dispute is worsening, which is not going to help the global economy...Read More
From future raw material investments to China's resurgence in lithium-iron-phosphate (LFP) battery chemistries, Fastmarkets analysts and reporters consider six key discussion points dominating the battery and electric vehicle markets. The below themes were raised from questions during Fastmarkets' webinar "Covid-19 and the battery raw materials supply chain" on May 19. To listen again to the webin...Read More
Key data from the pricing sessions in London and Shanghai on Friday May 22.Key drivers:- Buyers in China continue to replenish stocks that have run thin from refineries, bridging a gap in shipments from Africa in March and April that was a result of South Africa's Covid-19 lockdown. Outflows...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 26 that are worth another look.Workers at Tata Steel's plant at IJmuiden in the Netherlands staged a lightning protest on May 26, but output was unaffected, the company said.Japanese steel producers which use electric-arc furnaces (EAFs) are being forced into raising their purchasing prices for ferrous scrap feedstock despite t...Read More
Domestic prices for hot-rolled coil in Northern Europe dropped further during the week to Friday May 22, due to low trading activity.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe, was ?,?407.50 ($443.92) per tonne on Friday, down by ?,?4.38 per tonne week on week and down by ?,?37.50 per tonne month on month.Friday's index was calculated based on deals and "workable...Read More
Domestic prices for hot-rolled coil in Northern Europe were unchanged day on day on Tuesday May 26 while trading activity remained low, sources told Fastmarkets.Fastmarkets' daily steel hot-rolled coil index, domestic, exw Northern Europe held at ?,?407.50 ($447.03) per tonne on May 26, flat from Friday May 22.Tuesday's index was calculated based on deals and "workable" prices heard at ?,?400-410...Read More