U.S. equity index futures moved lower this morning. S&P 500 futures were down 16 points in pre-opening trade. Index futures responded partially to a decline in second half earnings estimates for S&P 500 companies by Goldman Sachs and Citigroup due to possible impact of a trade war between the U.S. and China.Canfor (CFP $8.80) is expected to open higher after Jim Pattison's company offered...Read More
Weak demand and bearish macroeconomic factors continued to pressure primary aluminium foundry alloy premiums lower in Europe and the United States on Friday August 9.Fastmarkets assessed the aluminium wheel alloy silicon 7 ingot premium ddp Germany at $335-355 per tonne on Friday, down from $340-355 per tonne on July 11. The premium fell for the second straight month, with market participants...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Zinc's three-month price on the London Metal Exchange fell by 3% at the close of trading on Friday August 9, dropping its lowest price September 2016, while nickel futures held at newly elevated levels despite a 1.6% decline (over the day?). Turnover across the exchange was fairly light over the day's trading, with nickel volumes leading the complex at just over 10,500 lots exchanged by the close....Read More
Key data from the pricing sessions in China, Europe and the United States for the week ending Friday August 9. China UG2 chrome ore prices ticked down, breaking a four-week rally, after depreciation of the yuan against the dollar raised the cost of importing material. The charge chrome market was stable for the sixth consecutive week amid limited activity. ...Read More
Treatment and refining charges for spot copper concentrates trended lower still early in August, with traders placing sharp bids on tendered cargoes and smelters amid continued port disruptions in Peru.The Fastmarkets copper concentrate TC/RC index basis cif Asia Pacific dropped to $49.8 per tonne/ 4.98 cents per lb on August 9 from $50.4/5.04 cents a week ago. The latest value is another record l...Read More
The Chinese zinc industry has been asked to offer responses by mid-September to a government proposal on stricter import thresholds for zinc concentrate despite strong opposition. Under the current standards for zinc, in place since 2006, imported concentrates may contain a maximum of 0.6% arsenic, 0.3% cadmium and 0.06% mercury, according to the Ministry of Finance. The consultation document, iss...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Key data from the Friday August 9 pricing session in London:Key drivers Manganese flake down with lower offers accepted in Rotterdam; the loss in value of the yuan and macroeconomic uncertainty boosted China's exports at competitive prices, with some flake producers and traders in China rapidly offsetting their cargoes before material could lose value. Material for shipment has dropped sharply dow...Read More
Ferrous scrap prices in the major trading regions other than the United States mostly moved downward during the week from Monday August 5 to Friday August 9. Limited demand for finished steel in Turkey and India, and worsening political tensions in Asia, created the conditions for prices to weaken, Fastmarkets heard. Turkish mills mostly stay out of spot markets, seeking lower prices US scrap expo...Read More
The inter-merchant spot market for UK light iron scrap was stable over the week to Friday August 9, extending the steady trend into a seventh week, with prices supported by major steel scrap shredders competing for business amid relatively tight availability, sources have told Fastmarkets.Fastmarkets' assessment of the price for steel scrap 5C, loose old light, domestic, delivered inter-merchant,...Read More
Turkish steel mills's were scarcely active in the scrap market this week before next week's Eid al-Adha religious holiday, sources said on Friday August 9.There was only one deep-sea cargo traded this week, which was sold out of the United States on Wednesday at an average price of $294 per tonne cfr for 20,000 tonnes of shredded and 20,000 tonnes of HMS 1&2 (90:10).Apart...Read More
An overview of the battery raw materials markets and their latest price moves.Read More
Cobalt prices have moved up again on Friday August 9 following Glencore's decision to shut its Mutanda copper-cobalt mine and cut output at its Katanga cobalt facility.The resulting supply concerns have pushed both suppliers and consumers to accept higher prices toward the end of the week starting August 5. Fastmarkets' benchmark price for cobalt, standard grade, in whs Rotterdam rose by 4.4% to $...Read More
Import prices for flat-rolled steel in South America were mostly down over the week ended Friday August 9, with Chinese mills making less expensive offers and liquidity in the region remaining low.Fastmarkets assessed the price for steel cold-rolled coil, import, cfr main ports South America, at $560-570 per tonne on August 9, down from $570-585 per tonne a week before. This was the lowest level s...Read More
Turkish prices for hot-rolled coil and cold-rolled coil (HRC, CRC) decreased over the week ended Friday August 9 due to the regular summer slowdown and the Eid al-Adha religious holiday next week, sources told Fastmarkets.HRC exportsTurkey's export price for HRC decreased with lower offers, sources said.Fastmarkets' weekly price assessment for steel HRC, export, fob main port Turkey, was $490-495...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
Domestic rebar prices in Poland have increased over the past week, supported by an anticipated increase in ferrous scrap costs and solid demand, sources told Fastmarkets on Friday August 9.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, exw Poland, was 2,150-2,170 zloty ($557-562) per tonne on August 9, compared with 2,100-2,120 zloty per tonne a week earlier.The...Read More
Reduced volumes of Chinese-produced steel have been going into the country's export markets throughout 2019 so far. So why is it that steel product prices remain under pressure in other global markets?According to China's General Administration of Customs, in July 2019 the East Asian country exported 5.57 million tonnes of steel, including both semi-finished and finished material. This was down ye...Read More
China's rebar prices dropped sharply in both the domestic and export markets on Friday August 9 amid bearish sentiment among market participants. Domestic Eastern China (Shanghai): 3,650-3,680 yuan ($518-522) per tonne, down 120 yuan per tonneNorthern China (Beijing): 3,640-3,660 yuan per tonne, down 90-100 yuan per tonneHigh inventories, dropping raw material prices, and weakening deman...Read More