The price rally in European ferro-silicon, which has lasted through the year, is showing no sign of stopping and consumers in the steel sector are likely to demand more alloy material before prices hit even higher record peaks, sources told Fastmarkets.European prices jumped by more than 5% to a peak of ?,?2,500 ($2,930) per tonne delivered in the week to September 24, with reported deals and offe...Read More
Base metals prices were mainly lower across both the London Metal Exchange and the Shanghai Futures Exchange on Tuesday September 28, the exception was LME copper.* Oil prices extend gains; spot Brent crude approaching $80 per barrel.* US 10-year treasuries yields push through 1.5%.Base metalsThe three-month copper price on the LME was up by 0.3% at $9,376.50 per tonne and seemed buoyant this morn...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 37 points in pre-opening trade. Federal Reserve Chairman Powell and Treasury Secretary Yellen are scheduled to give testimony before the Senate Banking Committee this morning. Agnico-Eagle and Kirkland Lake Gold have agreed to share exchange as a "merger of equals". Each Kirkland Lake Gold shares are to be exchanged f...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Here are five Fastmarkets stories you might have missed on Friday September 24 that are worth another look.Demand for steel, especially for flat products, in China could be hit by power supply constraints caused by the drive to reduce energy consumption and sustained coal shortages.Nyrstar,...Read More
Base metals prices were mainly lower on the London Metal Exchange and mixed on the Shanghai Futures Exchange on Monday September 27, while the broader markets looked more positive.* Higher oil prices are adding to inflationary concerns...* ...US 10-year treasuries yields rise to levels not seen since JulyBase metalsThree-month base metals prices on the LME were mainly weaker this morning, with the...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 15 points in pre-opening trade.Index futures were virtually unchanged following release of the August Durable Goods Orders report at 8:30 AM EDT. Consensus was an increase of 0.7% versus an upwardly revised 0.5% in July. Actual was an increase of 1.8. Excluding transportation orders, consensus was an increase of 0.5%...Read More
General Motors will double production in two of its Brazilian plants by introducing a second work shift, despite an ongoing global semiconductor chip shortage, the United States-based company's local branch said on Wednesday September 22.The automaker's unit in S??o Caetano do Sul, a city in Brazil's southeastern S??o Paulo state, will begin a second work shift on September 27. A second unit in Gr...Read More
Turkish alloy steelmaker ??emtas has started production at its new stabilizer line for supplying steel to commercial vehicle producer Man, ??emtas said on Tuesday September 21.Located in Bursa, ??emtas has a crude-steel production...Read More
The impact of China's new "Two High" energy and emissions policy is likely to continue in the iron ore market into the first quarter of 2022, sources told Fastmarkets this week.Sentiment for the coming six months has turned increasingly bearish since the guidelines, coupled with winter production restrictions, were announced in September. New guidance on 'Two-High' projectsThe "Two-High" poli...Read More
The collapse of the iron ore market and market turbulence over Chinese property developer Evergrande Group are adding to the economic woes caused by the Delta variant of Covid-19 for much of this year.It is hard to find bright sparks in the months ahead for the ferrous supply chain, which has been buffeted repeatedly in a short span of few months, starting with Chinese Premier Li Keqiang's comment...Read More
If any member was going to leave the London Metal Exchange ring trading floor, the exchange was probably hoping it wouldn't be Triland Metals Ltd.The company, a wholly owned subsidiary of Japanese conglomerate Mitsubishi, is one of the exchange's longest serving Category 1 members, having joined in 1972 after being founded in the prior year. Having a unit of Japan's largest trading company as a ri...Read More
Eight of the nine Category 1 members of the London Metal Exchange have indicated their support for continuing to trade official lunchtime prices in the open-outcry ring.Does this mean that one company does not support ring trading? And could one of the exchange's members be preparing to leave the trading floor?The exchange revealed on Monday August 9 that it had majority support for the ring, in a...Read More
Zinc producers in China's southwestern province of Yunnan should be able to fully resume their operations by mid-June, sources said.Yunnan will remove its power restrictions by the end of June that have stunted local zinc output, the provincial energy bureau said.A few zinc smelters in Yunnan have already resumed production, however, sources that spoke to Fastmarkets said.Production capa...Read More
European steel companies must scale up their decarbonization technologies within the coming decade or risk exhausting their allocated emissions allowances early, according to a report released on Tuesday September 14.The report, "Steeling for Net Zero," by climate researcher Industry Tracker, found that selected European steel companies have less than 26% of their carbon budget remaining and must...Read More
The latest forecasts from Fastmarkets' team of analysts are ready to view.This month's key North American steel forecast highlights:US prices for hot-rolled coil moved in line with our forecasts in August, averaging $1,910 per ton, within 1% accuracy of our forecast of $1,925 per ton. The market has achieved much-needed stability in recent weeks, with prices fluctuating in the range of $1,900-1,94...Read More