The latest bids, offers and deals in the global markets for steel billet, slab and bloom. Latest transaction: billetBillet China,...Read More
The latest bids, offers and deals in the global markets for rebar, wire rod, steel beams and other long steel products. Latest transaction: rebarRebar East China, domestic, grade...Read More
Export prices for Brazilian slab widened downward last week, with producers increasingly on the lookout for other destinations for their products due to shipments to the United States getting closer to exhausting their annual quota.The weekly Fastmarkets MB export price assessment for Brazilian slab was $440-520 per tonne fob last Friday May 24, compared with $510-520 per tonne fob a week earlier....Read More
The latest bids, offers and deals in the global markets for iron ore, pig iron, direct-reduced iron and other steelmaking raw materials. Latest transaction: iron oreIron oreRio Tinto, Global Ore, 170,000 tonnes of 62% Fe Pilbara...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday May 24. ChinaExport prices in China rebounded slightly after most exporters raised their offer prices, citing a lack of silicon ore in the country's province of Xinjiang. Sources said the tightness of silicon ore in Xinjiang may be the result of environmental issues affecting mine production in the region. An increase...Read More
Key data from the pricing sessions in Asia and Europe for the week ended Friday May 24. ChinaThe Chinese domestic antimony price continued its downward trajectory for a third consecutive week after some suppliers in the country slashed their prices to destock. Other suppliers were reluctant to sell of their stocks because prices had fallen below their production costs. With prices now below produc...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. Bank of Nova Scotia (BNS $70.57) is expected to open lower after reporting lower than consensus fiscal second quarter earnings. Husky Energy (HSE $12.51) is expected to open higher after raising its 2019 cash flow guidance.Apple (AAPL $178.97) is expected to open lower after Citigroup lowere...Read More
Global steel billet markets continued to improve during the week ended Friday May 24 following the United States' removal of additional import duties against Turkey.Mills in Turkey fully returned to the scrap markets and paid higher prices after the United States removed the additional duties, which means that Turkey is once more on a level playing field with other prospective exporters to the US,...Read More
China Communications Construction Co (CCCC) plans to build a steel rolling mill by 2023 in Marab??, a city in the Brazilian northern state of Par??, through its local subsidiary Concremat, the company said on Thursday May 23.Iron ore producer Vale will be involved as well, ensuring collateral for the project funding, the miner stated. The unit will need around 1.5 billion Reais ($371 million) in c...Read More
CIS billet producers further increased their export offers on Thursday May 23, still buoyed by last week's halving of import taxes on Turkish steel by US president Donald Trump.The US import tax on Turkish steel products is now in line with products from most other countries at 25%, and the US move improved market sentiment generally and resulted in higher scrap prices.CIS...Read More
The United States' reduction of tariffs on Turkish steel imports to 25% from 50% last week will only partially reopen the US market to Turkish mills, who should avoid raising prices if they are to successfully regain a share in that market, several sources told Fastmarkets this week. The US has lowered its tariffs on steel imports from Turkey to 25% effective Friday May 17. Duties had been at...Read More
Global steel billet markets continued to improve during the week ended Friday May 24 following the United States' removal of additional import duties against Turkey.Mills in Turkey fully returned to the scrap markets and paid higher prices after the United States removed the additional duties, which means that Turkey is once more on a level playing field with other prospective exporters to the US,...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More
South32's decision to review the future of its manganese alloy assets comes as little surprise to fellow manganese alloy producers because they are likely to be considering similar options. The review, which could result in the divestment of the assets, reflects a wider predicament affecting alloy producers struggling with historically high ore prices and a subdued market for their own product. So...Read More
The London Metal Exchange has decided on a dispute over when the load-in, load-out (LILO) rule should have been activated, ruling in favor of warehouse company Istim. People familiar with the situation said that the warehousing firm had been found to have acted vigorously and without delay in its dealings with Glencore at its warehouses in Port Klang, Malaysia, following large cancellations of alu...Read More
The temporary truce on tariffs between China and the United States could be over, injecting a new round of uncertainty into the global financial markets and suspending hopes that a resolution to the countries' trade impasse was likely.US President Donald Trump has threatened to raise the tariff on $200 billion-worth of Chinese imports to 25% from 10% by Friday May 10. He also said that the US may...Read More
Here are five Fastmarkets MB stories you might have missed on Friday May 24 that are worth another look.The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors sought to cover shorts ahead of the next week's bank holiday...Read More
Investing for the remainder of 2019: Opportunities and Pitfallshttps://mikesmoneytalks.ca/investing-for-the-remainder-of-2019-opportunities-and-pitfalls/?mc_cid=b245e69156&mc_eid=592546b4b5 The Bottom LineMost developed equity markets in the world reached an intermediate peak on or about May 1st. Last week they continued moving slightly lower. ObservationsTechnical action by individual S&...Read More
The three-month nickel price on the London Metal Exchange climbed by more than 4% at the close of trading on Friday May 24, soaring beyond $12,300 per tonne amid a slight softening of the dollar index and while investors seek to cover shorts ahead of the UK bank holiday next week. Despite moderately low volumes over the day's trading, more than 15,000 lots of nickel changed hands at a value of aro...Read More
An overview of the battery raw materials markets and their latest price moves.Read More