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U.S. equity index futures were lower this morning. S&P 500 futures were down 16 points in pre-opening trade.Johnson & Johnson eased $1.98 to $128.71 despite reporting higher than consensus fourth quarter sales and earnings. The company also raised guidance. Travelers eased $0.41 to $123.60 despite reporting higher than consensus fourth quarter sales and earnings.Schlumberger (SLB $44.73) i...Read More
Once again the upside initiatives in three-month base metals prices on the London Metal Exchange have run into overhead resistance, with the complex down by an average of 0.4% this morning, Tuesday January 22. Other commodity prices have also shown weakness, which we put down to the focus on slower global growth after the International Monetary Fund (IMF) lowered its global growth outlook to...Read More
Prices for steel billet in most global regions softened in the week ended Friday January 18, because of low demand and the weak performance of the long steel markets.But reduced availability from the Commonwealth of Independent States (CIS) improved price expectations in some buying regions, such as Turkey.CISBillet prices from the CIS region remained unchanged last week, with mills trying to incr...Read More
Prices for steel billet in most global regions softened in the week ended Friday January 18, because of low demand and the weak performance of the long steel markets.But reduced availability from the Commonwealth of Independent States (CIS) improved price expectations in some buying regions, such as Turkey.CISBillet prices from the CIS region remained unchanged last week, with mills trying to incr...Read More
Here are five Fastmarkets MB stories you might have missed on Friday January 18 that are worth another look.Growing optimism over the outlook for a trade agreement between the United States and China has led to a stronger tone across risk markets, including those for metals. Legislation that would delay the imposition of additional Section 232 tariffs on automobiles and automotive parts...Read More
Here are five Fastmarkets MB stories you might have missed on Friday January 18 that are worth another look.Growing optimism over the outlook for a trade agreement between the United States and China has led to a stronger tone across risk markets, including those for metals. Legislation that would delay the imposition of additional Section 232 tariffs on automobiles and automotive parts...Read More
WITH YOUR HOST, MARK LEIBOVIT SATURDAY, JANUARY 19, 1019SPECIAL GUESTS: DON VIALOUX, HARRY BOXER, HENRY WEINGARTEN AND SINCLAIR NOEhttps://tinyurl.com/yb5328r9 Excerpts from Don Vialoux' comments on Wall Street RawThe bear market rally in North American equity markets continued last week. The current rally has lasted four weeks. During this time the TSX Composite Index added 11.1%, the S&...Read More
Despite weak Chinese gross domestic product (GDP) data that showed fourth quarter 2018 growth of 6.4%, after 6.5% in the prior quarter, the three-month base metals prices on the London Metal Exchange were for the most part holding up relatively well on Monday January 21, with prices just off slightly. The complex posted an average loss of 0.2%, with copper showing the largest reaction; the th...Read More
Prices in the base metals complex consolidated higher at the close of trade on Friday January 18 amid continued optimism about trade talks between the United States and China, and increased bullish sentiment overall.The London Metal Exchange 3-month nickel contract closed in Friday trading at $11,820 per tonne, and was the day's biggest mover, up by 1.9% from Thursday's closing price.Nickel was tr...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
The Comex copper price continued to move higher on Friday January 18 ahead of the US public holiday amid a short-covering rally. There is a public holiday in the United States for Martin Luther King Jr day on Monday. The copper price for March settlement on the Comex division of the New York Mercantile Exchange gained 1.60 cents to $2.6960 per lb on Friday. "A short-covering rally in LME copper se...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Key data from the pricing sessions in Asia, Europe and the United States for the week ending Friday January 18. China The domestic ferro-chrome spot price was unmoved amid thin trading activity. Many market participants await February's tender prices, which mills are expected to release next week. Higher trade prices and increased liquidity pushed up the UG2...Read More
Jiangxi Copper has appointed Zheng Gaoqing as its new general manager after the key leadership position had been left vacant for six months, the major Chinese copper producer said on Friday January 18. Zheng is also the deputy director with Jiangxi province's state-owned Assets Supervision and Administration Commission and senior management of several provincial electronics companies. He has no pr...Read More
An overview of the battery raw materials markets and their price moves from the past week.Read More
Global ferrous scrap prices moved in varying directions during the working week from Monday January 14 to Friday January 18, with Turkish and Asian import prices going opposite ways.Turkish scrap import prices inched upward due to higher offer prices, while prices in Vietnam continued to weaken due to limited interest and trading. Taiwanese and Indian import prices were stable over the week.Turkey...Read More
UK ferrous scrap prices for deliveries in January have dropped by ?15-20 ($19-26) per tonne, depending on grade, due to persistent weakness in export prices to the key destination of Turkey, trade sources told Fastmarkets on Friday January 18.The move followed a uniform price drop of ?20 per tonne in December settlements, after a rollover for two consecutive months.European export prices to trad...Read More
Alloy steel scrap prices were influenced a range of factors in the week ended Friday January 18, including divergent pricing trends for key alloy components, poor demand and changing currency values.The result of this was that scrap price developments have shown mixed fortunes.Demand from mills remained poor and buying mills held the advantage in price negotiations, and this put downward pressure...Read More