Crude Oil ETN (USO) moved below $26.27 extending an intermediate downtrend. Pre-opening Comments for Friday October 2ndU.S. equity index futures were lower this morning. S&P 500 futures were down 47 points in pre-opening trade. Index futures responded to news that President Trump tested positive to a COVID 19 test. WTI Crude oil dropped another $1.30 to US $37.42 per barrel. Crude oil pr...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 30 that are worth another look.Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources...Read More
Zinc concentrate treatment charges (TCs) have fallen sharply in September 2020, reversing a three-month upward trend because of supply tightness from South America, amid continuing disruptions resulting from the Covid-19 pandemic, putting pressure on traders and smelters to cover short positions.Fastmarkets' most recent assessment of the zinc spot concentrate TC, cif China, was $100-120 per tonne...Read More
The three-month copper price on the London Metal Exchange was the standout performer at the close of trading on Wednesday September 30, after a significant uptick in consumer confidence in the United States. The surge in US positivity through September prompted a steady increase in buying activity, while continued inflows of material put pressure on the LME lead price across the aft...Read More
Zinc concentrate treatment charges (TCs) have fallen sharply in September 2020, reversing a three-month upward trend because of supply tightness from South America, amid continuing disruptions resulting from the Covid-19 pandemic, putting pressure on traders and smelters to cover short positions.Fastmarkets' most recent assessment of the zinc spot concentrate TC, cif China, was $100-120 per tonne...Read More
China nickel ore prices continued their ascent in the week to Tuesday September 29 - outstripping other regional prices - while United States briquette premiums narrowed at the bottom end of the range and consumers began to restock ahead of the fourth quarter, sources said.China's nickel ore price rally continues unabated while regional nickel sulfate prices downThe already-low US premiums narrow...Read More
European high- and low-carbon ferro-chrome prices diverged in the week to Tuesday September 29, with higher-grade market sentiment improving while weak demand subdued lower-grade values. Fastmarkets' weekly price assessment for ferro-chrome high carbon 6-8.5% C, basis 60-70% Cr, max 1.5% Si, delivered Europe, was $0.85-0.99/lb on Tuesday September 29, widening upwards by 1 cent/lb from one week ea...Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 30 that are worth another look.Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
Here are five Fastmarkets stories you might have missed on Wednesday September 30 that are worth another look.Bangladeshi conglomerate Bashundhara Group has decided to build a large steelmaking furnace that will boost the country's demand for imports of scrap steel over the coming years, sources...Read More
Turkish steel producers extended their absence from the deep-sea scrap market amid weak finished steel demand, sources said on Wednesday September 30.Two Baltic Sea cargoes of HMS 1&2 (80:20) were sold to Turkey at $296 per tonne cfr late last week, were the first deals heard since September 9, when the price was $301 per tonne cfr. ...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday September 30.Key drivers Persistent tightness in titanium scrap supplies in Europe causes prices to climb for the third week in a row. Scrap generation has fallen in line with a downturn in heavy industry, particularly the aerospace sector, with a fall in volumes from machine shops, forge shops and fabricators. National...Read More
Base metals prices and Asian-Pacific equities were mixed this morning, Wednesday September 30, although pre-market western equity index futures were weaker following a confrontational and not very presidential first debate between US President Donald Trump and former Vice President Joe Biden, the democratic candidate.China's official and Caixin manufacturing purchasing managers' indices (PMI) were...Read More
A summary of China's battery raw materials exports for August 2020.In brief China's exports of graphite flake increased in August from a month earlier, with the rise mainly driven by the fulfillment of orders delayed due to the Covid-19 pandemic rather than a recovery in demand. China's lithium exports rose year...Read More
A summary of China's battery raw materials imports for August 2020.In brief China's imports of cobalt metal hit a historical high in August after importers in the country looked to take advantage of noticeable arbitrage opportunities. In addition, import appetite was spurred by wide-spread expectations of stockpiling by China's state reserve authority and the prospect of further price gains in the...Read More
Domestic prices for heavy steel plate in the EU have moved up over the week to Wednesday September 30, despite trading activity remaining slow, market sources have said.Price recovery was supported by higher slab costs and a positive trend in the market for steel coil.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?480-490 ($562-574) per tonne on...Read More
Domestic prices for hot-rolled coil in Europe inched up over the week to Wednesday September 30, driven by reduced output from domestic mills and a lack of competitive import offers, sources have told Fastmarkets.Sentiment in the market has been mixed because some participants expected prices to rise further, while others expected them to remain at their current level.Fastmarkets calculated its da...Read More
Hollow steel sections prices in Europe moved up this week, with mills pushing hard to achieve higher prices, market sources told Fastmarkets on Wednesday September 30.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?580-590 ($679-690) per tonne on Wednesday, up from ?,?570-585 per tonne one week previous.The price of HRC, the feedstock...Read More
A correction has been issued for this article.The...Read More
Steel H-beam prices in Europe remained flat this week despite more producers announcing fresh increases, sources told Fastmarkets on Wednesday September 30.Fastmarkets' weekly price assessment for steel beams, domestic, delivered Northern Europe was ?,?530-570 ($620-667) per tonne on Wednesday, unchanged week on week."The market is a bit tricky - prices increase, but demand is low," a trader...Read More