China's stainless steel prices were unchanged over the past week with markets winding down toward the year-end. DomesticFastmarkets' weekly price assessment for stainless steel cold-rolled coil 2mm grade 304 domestic, ex-whs China in the country's major market of Wuxi was 14,300-15,100 yuan ($2,047-2,161) per tonne including value-added tax on Wednesday December 25, unchanged from a week earlier.S...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade. The TSX 60 Index is expected to open at an all-time high this morning. Previous all-time high was 1,024.47 ObservationsThe CRB Index and its related ETN broke above 16.26 to a new high yesterday.Strength in the CRB Index yesterday is attributed mainly to strength in precious metal pr...Read More
Base metals prices on the Shanghai Futures Exchange diverged during the morning trading session on Wednesday December 25, with lead outperforming the rest of the complex with a 0.7% gain.The most-traded February lead contract rose to 15,195 yuan ($2,171) per tonne at the close of the morning trading session, up by 105 yuan per tonne from Tuesday's close of 15,090 yuan per tonne."We said in our...Read More
Base metals prices on the Shanghai Futures Exchange diverged during the morning trading session on Wednesday December 25, with lead outperforming the rest of the complex with a 0.7% gain.The most-traded February lead contract rose to 15,195 yuan ($2,171) per tonne at the close of the morning trading session, up by 105 yuan per tonne from Tuesday's close of 15,090 yuan per tonne."We said in our...Read More
Base metals prices on the Shanghai Futures Exchange diverged during the morning trading session on Wednesday December 25, with lead outperforming the rest of the complex with a 0.7% gain.The most-traded February lead contract rose to 15,195 yuan ($2,171) per tonne at the close of the morning trading session, up by 105 yuan per tonne from Tuesday's close of 15,090 yuan per tonne."We said in our...Read More
Gold equities and related ETFs/stocks are leading equity market advances this morning. Nice breakouts above intermediate resistance by $GDX $GDXJ $XGD.CAWheaton Precious Metals $WPM $WPM.CA, a TSX 60 stock moved above $28.64 U.S. and $38.14 Cdn. extending an intermediate uptrend.First Majestic Silver $AG $FR.CA moved above $11.62 U.S. extending an intermediate uptrend.Another precious metals equit...Read More
A summary of base metals premiums from across the globe for the week to Tuesday December 24.Click the above image to...Read More
Aluminium premiums in South Korea rose in the week ending Tuesday December 24, while the main Japanese ports (MJP) spot premium was steady following last week's increase. In South Korea, the aluminium P1020A premium, cif South Korea, and the aluminium P1020A premium, fca South Korea rose by $10-15 week on week to $85-90 per tonne and $100-105 per tonne respectively on Tuesday.Deals heard for Janua...Read More
Over the Christmas holiday period, Fastmarkets will continue to price physical base metal markets in accordance with our pricing schedule.Readers can view the pricing holidays and alternative pricing arrangements through the following link.Over this time, base metal premium and warrant premium tables will be published, but accompanying commentary wraps will not.If you have any queries please email...Read More
Key data from the pricing sessions in Asia, Europe and the United States for week ended Friday December 20. ChinaDomestic spot alloy prices remained static, with producers keeping quotations firm. Export prices held steady - while the yuan was strengthening, trading activity remained lackluster. Europe The European ferro-silicon spot price was steady over the week - no deals were reported am...Read More
Over the Christmas holiday period, Fastmarkets will continue to price physical base metal markets in accordance with our pricing schedule.Readers can view the pricing holidays and alternative pricing arrangements through the following link.Over this time, base metal premium and warrant premium tables will be published, but accompanying commentary wraps will not.If you have any queries please email...Read More
The recent downtrend in spot ferro-chrome prices in China was capped by strength in the domestic stainless steel market, while the European and US markets were flat ahead of the Christmas holiday break. Chinese alloy prices hold amid stainless steel strength Charge chrome prices flat on firm offers Chrome ore prices up in response to improved sentiment Japanese and South Korean alloy prices tumble...Read More
Ferrous scrap prices in Mexico maintained their upward trend this week, with sellers gradually applying price changes in response to a stronger market in the United States.At least one major steelmaker in Monterrey city increased its prices, according to several sellers. The move was initially reported by a scrap dealer in the middle of last week and later confirmed by other market parti...Read More
The Turkish deep-sea scrap import market was quiet on Tuesday December 24 due to the Christmas holiday period in Europe and the United States, market sources said.The most recent deep-sea cargo was booked on Friday December 20 at $303 per tonne cfr for HMS 1&2 (80:20) from the Baltic Sea region.Read More
The domestic price for hot-rolled coil in Northern Europe has been stable day on day due to limited market activity, sources told Fastmarkets on Tuesday December 24.Fastmarkets' daily index for steel hot-rolled coil index domestic, ex-works Northern Europe was unchanged at ?,?439.39 ($487.01) per tonne on Tuesday December 24.The calculation of the index was based on the latest deals and achie...Read More
Flat steel import prices in the United Arab Emirates and Saudi Arabia increased this week on higher offers although there were no bookings because buyers sought discounts before placing new orders, sources told Fastmarkets on Tuesday December 24. Suppliers raised their offers in response to increasing raw material costs. But buyers resisted the higher offers, saying the recent price rises have bee...Read More
China's hot-rolled coil exporters achieved higher prices on Tuesday December 24, bolstered by overseas buyers' willingness to pay more for material, even as weakness prevailed in the domestic market, sources said.DomesticEastern China (Shanghai): 3,900-3,910 yuan ($556-558) per tonne, unchangedNorthern China (Tangshan): 3,630-3,640 yuan per tonne, down 10 yuan per tonneSpot prices in Shanghai were...Read More
The hot-rolled steel sheet and rebar markets in Russia's Central Federal District around Moscow strengthened this week on higher prices from mills, even as demand remained seasonally subdued, sources told Fastmarkets on Monday December 23.Fastmarkets' weekly price assessment for steel hot-rolled sheet, domestic, cpt Moscow, Russia, was 39,500-40,000 roubles ($634-642) per tonne on December 23, inc...Read More
Domestic and import prices for steel rebar in the United Arab Emirates increased slightly over the past week amid moderate demand, market sources said on Tuesday December 24.Market participants in the UAE believe the increases may continue if raw materials prices keep rising.Local rebar producers announced new prices on December 19.Billet importsBillet was offered at $450-470 per tonne cfr, but no...Read More
China's domestic rebar prices and futures dropped on Tuesday December 24 amid heightened expectations of some form of financial stimulus to be implemented by the Chinese government soon. Eastern China (Shanghai): 3,750-3,780 yuan ($535-539) per tonne, down 50 yuan per tonneNorthern China (Beijing): 3,500-3,530 yuan per tonne, down 20-30 yuan per tonneChinese Premier Li Keqiang said on Monday that...Read More