London Metal Exchange base metals prices and spot gold were consolidating in London on the morning of Wednesday March 2, following average gains of 2.6% across the base metals on Tuesday as the market prepared for likely supply losses from Russia.* United States 10-year treasuries rates were recently at 1.73%, down from more than 2% on Friday, as haven demand rises* Spot Brent crude oil trading at...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 16 points in pre-opening trade. Index futures responded to President Biden's State of the Union address released last night.The Canadian Dollar was quiet at U.S.78.81 cents prior to news from the Bank of Canada at 10:00 AM EST. Consensus calls for an increase in the Bank of Canada's interest rate to major Canadian bank...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 11 points in pre-opening trade. The Canadian Dollar was virtually unchanged at US78.80 cents following release of Canada's December GDP at 8:30 AM EST. Consensus was unchanged versus a gain of 0.6% in November. Actual was unchanged . Consensus for fourth quarter real GDP was an annualized increase of 6.5% versus an an...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 57 points in pre-opening trade. Index futures were responding to growing geopolitical concerns related to events in Ukraine.Commodity prices were higher this morning related to events in Ukraine. Gold gained $23.30 to US$1909.90 per ounce. Crude oil advanced $4.05 to $95.64 per barrelToronto Dominion Bank (TD Cdn$104....Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 20 points in pre-opening trade. Index futures moved higher following release of economic reports at 8:30 AM EST. Consensus for January Durable Goods Orders was an increase of 0.8%. Actual was an increase of 1.6%. Excluding transportation orders, consensus for January Durable Goods Orders was an increase of 0.4%. Actual...Read More
Base metals prices were little changed but mixed on the London Metal Exchange, while those on the Shanghai Futures Exchange were for the most part weaker on the morning of Friday February 25, perhaps suggesting that China is expecting to see more metal from Russia.* US equities recovered early losses on Thursday...* ...this has provided some stability to markets on Friday morning* Spot Brent crude...Read More
LME base metals prices and spot precious metals were up across the board on news of Russia's invasion of Ukraine, while base metals on the SHFE were mixed on the morning of Thursday February 24.* Nickel, aluminium, palladium and silver were up by more than 2% this morning* Spot Brent crude oil touches $100 per barrel* Western equity index futures down 2-4%Base metalsThree-month base metals prices...Read More
World equity markets are sharply lower this morning on news that Russia has invaded Ukraine. European equity indices are down 3%-5%.At 7:30 AM EST, S&P 500 futures were down 103 points, gold advanced $49.10 to $1,959.50 per ounce. Crude oil gained $6.55 to $98.65 per barrel.eBay dropped $4.20 to $50.39 after the company reported a fourth quarter loss. Fourth quarter revenues also were lower th...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 30 points in pre-opening trade. Lowe's added $8.10 to 222.69 after reporting higher than consensus fourth quarter results.Palo Alto Networks gained $29.29 to $505.00 after reporting higher than consensus fiscal second quarter results.Caesar's World dropped $2.57 to $74.60 after reporting lower than consensus fourth qua...Read More
An overview of the aerospace materials markets and the latest price moves.Jessica Long, Zihao Li and...Read More
Base metals prices on the London Metal Exchange were mixed, but largely up at the 5pm close on Friday November 19, after a week of choppy trading."We seem to be following a similar pattern to last week," Marex LME desk analyst Alastair Munro said."Macro-inspired weakness during the first part of the week has given way to a bout of short-covering [activity] into the weekend," he added.The three-mon...Read More
Key data from Fastmarkets' pricing sessions in China, India, Europe and the United States on Friday November 19.China The spot silico-manganese and ferro-manganese markets continued to fall this week, following the sluggish futures and downstream steel markets. Alloy producers have been considering production cuts to avoid financial losses under high electricity rates and falling alloy prices.&nbs...Read More
An overview of the specialty steel raw materials markets in Europe and the latest price moves.Janie Davies, Dalila Ouerghi,...Read More
An overview of the specialty steel raw materials markets in Europe and the latest price moves.Janie Davies, Dalila Ouerghi,...Read More
Key data from Fastmarkets' pricing sessions in China, Europe and the United States on Friday November 19.China?EUR?Weaker downstream steel demand was the principal driver of the decrease in China's ferro-silicon price. Due to the normal steel purchase off-season, demand for steel was not at a high level. Besides, with the heat supply period beginning in northern China, steel production will be und...Read More
Prices for shredded steel scrap imported into Pakistan and India moved down after both markets weakened in the seven days to Friday November 19, sources told Fastmarkets.PakistanFastmarkets calculated its weekly steel scrap, shredded, index, import, cfr Port Qasim, Pakistan at $560.18 per tonne on Friday, compared with $564.21 per tonne a week earlier.Deals were heard at $563-565 per tonne this we...Read More
Importers of ferrous scrap were lured back to market in the week ended Friday November 19 by lower prices, which were precipitated by a period of lackluster buying activity.?EUR?Turkish mills' import prices rebounded by the week's end after deals at lower prices?EUR?US sales halted with exporters reluctant to reduce their selling prices?EUR?Vietnamese buyers were actively seeking more material aft...Read More
An overview of the new energy materials markets and their price moves in the week to Friday November 19.Susan Zou, Yingchi Yang and...Read More
Aluminium billet premiums were steady across the globe on Friday November 19, remaining close to all-time highs.EuropeEuropean billet premiums are unchanged this week at record highs but liquidity is low, with most buyers covered until the end of the year.Fastmarkets assessed the aluminium 6063 extrusion billet premium, ddp North Germany (Ruhr region) at $1,450-1,500 per tonne on November 19, unch...Read More
Fastmarkets' copper concentrate treatment charge/refining charge (TC/RC) indices edged down slightly in the week to Friday November 19. Spot activity was thin, with the market still focusing on 2022 contract negotiations; no number for benchmark charges has...Read More