* Copper hovers near eight-month high * Nickel touches lowest in nearly four weeks (Updates with closing prices) By Zandi Shabalala LONDON, Jan 6 (Reuters) - Copper edged higher on Monday as arise in oil prices offset softer Chinese economic data and anescalation in tension between the United States and Iran,analysts said. Commerzbank analyst Daniel Briesemann said the jump in oilprices since the...Read More
Here are five Fastmarkets MB stories you might have missed on Friday January 3 that are worth another look....Read More
Here are five Fastmarkets MB stories you might have missed on Friday January 3 that are worth another look....Read More
U.S. equity index futures were lower this morning. Index futures are responding to increasing tensions between the U.S. and Iran. S&P 500 futures were down 17 points to 3,222 in pre-opening trade. Gold jumped $24.50 per ounce to $1,577.00 per ounce on increasing Middle East tensions. Gold moved above $1,566.40 to a seven year high. Also, Goldman Sachs upgrade gold to Buy.Crude Oil also respond...Read More
US imports of steel products might have surged in December 2019, according to an advance indicator of offshore arrivals.But attempts to draw firm conclusions from import license figures - which have differed from final Census volumes in recent months - might be premature, government data, comments from an International Trade Administration (ITA) spokesperson and calculations by Fastmarke...Read More
Fastmarkets takes a look at what to watch out for in the hot-rolled coil market in the United States in 2020 after another year of volatility and surprises in 2019.After a generally profitable 2018 for the US steel industry, 2019 proved more challenging, with major domestic steel producers posting significant year-on-year losses amid atypical buying and holding patterns."I think 2019 is a hangover...Read More
The three-month nickel price on the London Metal Exchange was lower at the close of trading on Friday January 3, settling at its lowest level since December 10 last year amid a steady uptick in inventories, while tin futures also suffered over the afternoon to close at a monthly low.Nickel's underlying price on the LME closed at $13,755 per tonne on Friday afternoon, showing a 3.3% downturn agains...Read More
Shanghai copper premiums have dropped to their lowest level in almost three years on slack spot demand for imported cathodes ahead of Lunar New Year. Fastmarkets' copper grade A cathode premium cif Shanghai stood at $35-48 per tonne on Friday January 3, down slightly from $38-50 per tonne a day ago. The benchmark premium, which is often viewed as an indicator of appetite for imported refined...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the pricing sessions in Europe, Asia and the United States for the week ending Friday January 3. China Seaborne prices of both grades of manganese ore in China strengthened further after some sellers successfully increased their offer prices. Many Chinese buyers accepted higher offer prices out of fear of missing out on relatively limited availability of cargoes available...Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday January 3. China The UG2 chrome ore price rose in response to improved buying appetite and higher offer prices. The stronger price, together with higher transport costs in winter, halted the recent downtrend in domestic ferro-chrome prices. The charge chrome import price inched lower in...Read More
Shanghai copper premiums have dropped to their lowest level in almost three years on slack spot demand for imported cathodes ahead of Lunar New Year. Fastmarkets' copper grade A cathode premium cif Shanghai stood at $35-48 per tonne on Friday January 3, down slightly from $38-50 per tonne a day ago. The benchmark premium, which is often viewed as an indicator of appetite for imported refined...Read More
An overview of the minor metals markets andthe reasons for any price moves.Read More
An overview of the battery raw materials markets and their latest price moves.Read More
The inter-merchant spot price for light iron scrap in the United Kingdom was unchanged on Friday January 3 because many traders have not yet returned to work after the year-end holiday period, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel scrap 5C, loose old light, domestic, delivered inter-merchant UK, was ?90-105 ($119-138) per tonne on Friday, unchanged since mid-Dece...Read More
The price of ferrous scrap imported into India rose this week in response to positive sentiment on the return of traders to the market after the Christmas and New Year holidays, sources told Fastmarkets.Fastmarkets' steel scrap, shredded, index, import, cfr Nhava Sheva was $312.17 per tonne on Friday January 3, up from $307.54 per tonne on Friday December 27. Deals were heard for shredded scrap at...Read More
The Turkish steel producers have now seen a second week with no deep-sea scrap import bookings because of the year-end holiday periods, which traditionally slow down market activity, sources said on Friday January 3.The Turkish mills have been quiet since December 20, when a Baltic Sea cargo was booked at $303 per tonne cfr.Sentiment turned negative late in the week because of the downturn in the...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
A Chilean court has upheld an environmental complaint by local indigenous communities against a major expansion by lithium producer SQM. On December 26, the Antofagasta environmental court suspended approval for an expansion of SQM's brine lithium production in the Atacama Desert, reversing a decision made in April 2019. The court said it "took into consideration the fragile conditions of the Sala...Read More