Prices for base metals dropped in morning trading on Wednesday November 4, after Donald Trump said he plans to contest the result of the incomplete and already uncertain presidential election in the United States.Aluminium, nickel and copper had all dropped by 1% or more as of 8:20 UK time with votes still being counted in a US presidential race that looks set to go down to the wire and in which a...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
The tightness in China's domestic market for aluminium scrap has slightly eased week on week with more aluminium scrap cargoes arriving in the country, Fastmarkets learnt on Wednesday November 4.The change came after Chinese producers of aluminium ADC12 were allowed to import qualified aluminium scrap based on a new customs code that came into effect on November 1."We stored some volumes of standa...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Madagascan producer Ambatovy will resume nickel and cobalt operations in February 2021, a source with knowledge of the matter told Fastmarkets.The Ambatovy project was closed in March due to national restrictions imposed to contain the spread of the Covid-19 pandemic in Madagascar. Sumitomo owns 47.7% of Ambatovy, Sherritt International Corp owns 12% and the remainder is held by...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Good order books at European hot-rolled coil producers combined with a lack of competitive import offers remained the key factors behind the recovery in domestic prices and the upbeat mood among domestic mills, sources told Fastmarkets on Wednesday November 4.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?505.11 ($590.47) per tonne on Wednesday,...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Prices for hollow steel sections in Europe remained static this week but mills are looking to push prices higher in the coming weeks on solid order books, sources told Fastmarkets on Wednesday November 4.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?630-650 ($736-760) per tonne on Wednesday, unchanged week on week.The price of hot-rolled coil...Read More
The price of steel H-beams in Europe was unchanged this week as a result of negative sentiment related to the resurgence of the Covid-19 pandemic, sources told Fastmarkets on Wednesday November 4.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe, was ?,?540-570 ($631-666) per tonne on Wednesday, unchanged week on week.Prices have been unchanged for the past...Read More
Steel mesh-quality wire rod prices in the north of Europe remained largely unchanged in the week to Wednesday November 4, with sentiment still optimistic despite concerns over the second wave of Covid-19 infections, sources told Fastmarkets.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Northern Europe was unchanged at ?,?485-495 ($567-579) per ton...Read More
Here are five Fastmarkets stories you might have missed on Wednesday November 4 that are worth another look.Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.The recovery in Peruvian copper output off the...Read More
Iron ore prices in the futures and seaborne markets were relatively stable on Wednesday November 4, despite new restrictions on sintering and blast furnace stoppages, sources told Fastmarkets. Fastmarkets iron ore indices 62% Fe fines, cfr Qingdao: $116.91 per tonne, down $0.18 per tonne62% Fe low-alumina fines, cfr Qingdao: $117.00 per tonne, down $0.63 per tonne58% Fe fines high-grade...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
China's domestic rebar prices edged up on Wednesday November 4 amid increased demand brought about by futures strength.DomesticEastern China (Shanghai): 3,830-3,850 yuan ($573-576) per tonne, up by 10-20 yuan per tonneEnd users raised their procurement rates after becoming concerned about possible price increases upon seeing gains in the futures market, while some trading houses were also heard to...Read More
CIS steel billet producers have continued to offer material to foreign customers at rather high prices, with support from the global uptrend in the long steel markets, Fastmarkets heard on Tuesday November 3.In any case, the producers were in no hurry to sell-out volumes scheduled for shipment in January.For their part, customers in the majority of export destinations considered the current offers...Read More
Most prices in Turkey for hot-rolled coil and cold-rolled coil went down in October 2020, with some market sources expecting further price decreases, Fastmarkets heard on Wednesday November 4.Turkish flat steel producers were fully booked until January, with trading sources reporting that the market was moderate in October because of the uncertainty about prices after China's Golden Week national...Read More
Asian commodity markets are on the edge with market participants keenly watching the outcome of the United States' presidential election.Democratic Party candidate Joe Biden has garnered 223 electoral votes as at 2pm Singapore time, compared with Republican candidate Donald Trump's 174 votes, according to the Associated Press."It's not a sure-win for Biden now, especially since there are still som...Read More
Brazilian iron ore exports fell 8.6% in October, when compared with the same month last year, since the month had fewer workdays in 2020, and despite those volumes representing a higher daily average, data from the country's economy ministry showed on Tuesday November 3.Brazil exported 31.19 million tonnes of iron ore last month, down from 34.14 million tonnes a year before, and down 17.6% from th...Read More