Twitter (TWTR), a NASDAQ 100 stock moved above $48.42 extending an intermediate uptrend.Western Digital (WDC), a NASDAQ 100 stock moved above $39.26 setting an intermediate uptrend.Wheaton Precious Metals (WPM), a TSX 60 stock moved below US$48.42 completing a double top pattern. Ditto for another silver stock! Pan American Silver (PAAS) moved below US$31.79 completing a double top pattern. Pre-op...Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
Base metals futures fell on the London Metal Exchange on Monday September 21, with the US markets reacting negatively to the forecast from that country's Federal Reserve bank (the Fed) that it will keep interest rates largely unchanged at low levels for the next three years.The price of zinc on the LME for delivery in three months' time closed at $2,458 per tonne at 5pm on Monday, down by 3.1% fro...Read More
Global alumina prices are expected to remain rangebound over the next quarter unless there are significant changes to the supply and demand picture, Noranda chief operating officer Thomas Robb said. Speaking at Fastmarkets' International Aluminium Conference on Monday September 21, Robb said: "It feels like the market is somewhat rangebound because of the supply and demand dynamics we're seeing ou...Read More
Global alumina prices are expected to remain rangebound over the next quarter unless there are significant changes to the supply and demand picture, Noranda chief operating officer Thomas Robb said. Speaking at Fastmarkets' International Aluminium Conference on Monday September 21, Robb said: "It feels like the market is somewhat rangebound because of the supply and demand dynamics we're seeing ou...Read More
Bearish supply fundamentals and a high London Metal Exchange three-month price continue to spark debate in the nickel market, but while Citi maintains that the much-lauded electric vehicle (EV) metal is its least-preferred for medium-term investment, a quick turnaround in Chinese economic recovery is providing green shoots for physical demand, analyst Oliver Nugent told Fastmarkets. "We can't help...Read More
New Day Aluminum is evaluating investment opportunities in the aluminium and specialty chemicals businesses in Europe, the company's chairman and chief executive officer said.During an interview on the bauxite and alumina day at Fastmarkets' International Aluminium conference, David D'Addario said that New Day has relocated chief operating officer Tom Robb to London to be in charge of the process....Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
Turkish domestic scrap prices have remained largely stable over the past week amid steady import values, sources said on Monday September 21.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,040-2,270 lira ($268-299) per tonne on Monday, unchanged week-on-week."Imported scrap prices have remained on a sideways track in the past couple of wee...Read More
Base metals prices on both the London Metal Exchange and Shanghai Futures Exchange were for the most part little changed to firmer this morning, Monday September 21, with only December nickel in Shanghai showing a loss.But with Asian-Pacific equities and pre-market major western equity index futures weaker, the metals may face headwinds today.Dollar, US treasuries and gold all consolidating, waiti...Read More
Bearish supply fundamentals and a high London Metal Exchange three-month price continue to spark debate in the nickel market, but while Citi maintains that the much-lauded electric vehicle (EV) metal is its least-preferred for medium-term investment, a quick turnaround in Chinese economic recovery is providing green shoots for physical demand, analyst Oliver Nugent told Fastmarkets. "We can't help...Read More
Cobalt hydroxide prices and payables continued to firm last week as suppliers successfully held out for higher numbers amid optimism derived from China's State Reserve Bureau (SRB) stockpiling drive, and interest from consumers and the trade to restock.Fastmarkets' cobalt hydroxide index, 30% min Co, cif China was calculated at $11.94 per lb on Friday September 18, up 0.7% from $11.86 per lb on Se...Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
Sentiment in the Northern European hot-rolled coil market remained upbeat on Monday September 21, driven by reduced output from domestic steelmakers and a lack of competitive import offers, sources told Fastmarkets.Fastmarkets calculated the daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?484.95 ($574.10) per tonne on Monday, down by ?,?1.97 per tonne from ?,?486.92 per ton...Read More
Prices for flat steel products in Russia's Central Federal District around Moscow remained firm in the seven days to Monday September 21, supported by strong export prices, sources told Fastmarkets at the start of this week.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 42,000-43,000 roubles ($554-567) per tonne including 20% value-added tax on S...Read More
CIS exporters of rebar and wire rod continued to push up their offer prices over the past week because of reduced availability due to repairs being carried out at some facilities.Ukrainian rebar was on offer at $485 per tonne fob Black Sea, while Russian material was available at $475-480 per tonne fob, sources told Fastmarkets.Wire rod price indications from Ukraine were coming in at $5...Read More
The domestic steel rebar market in Russia's Central Federal District around Moscow picked up on new offers from mills, backed by good demand from the end sector, sources told Fastmarkets on Monday September 21. Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, cpt Moscow, Russia surged to 40,000-41,000 roubles ($528-542) per tonne on September 21, including 20%...Read More
China's rebar prices dropped in both the domestic and export markets on Monday September 21, amid inactivity and bearish sentiment. DomesticEastern China (Shanghai): 3,650-3,670 yuan ($545-548) per tonne, down by 30 yuan per tonneConcerns about the Covid-19 pandemic in the United States weighed on global stock markets, putting commodities futures under pressure and pushing down spot rebar prices.E...Read More
Here are five Fastmarkets stories you might have missed on Monday September 21 that are worth another look.Brazilian steel and iron ore producer Companhia Sider??rgica Nacional (CSN) will launch an initial public offering (IPO) of its mining division stock to fund a $6-billion expansion plan that will increase capacity to 108...Read More
Turkish domestic scrap prices have remained largely stable over the past week amid steady import values, sources said on Monday September 21.Fastmarkets' weekly price assessment for steel scrap, auto bundle scrap, domestic, delivered Turkey, was 2,040-2,270 lira ($268-299) per tonne on Monday, unchanged week-on-week."Imported scrap prices have remained on a sideways track in the past couple of wee...Read More