Key data from the Wednesday November 7 pricing session in Europe. Key drivers Recent downward trend in ferro-titanium has finally dragged down scrap prices. The trend started on September 12, when the market was assessed at $5.80-6.05 per kg.There is readily available alloy supply against moderate spot demand, with some buyers booking alloy through year-end. Some traders want rid of stocks to boo...Read More
Latin American steel association Alacero has appointed M??ximo Vedoya as its new president on Wednesday November 7.Vedoya, who is the chief executive officer of Latin American steel group Ternium, will lead the association...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More
The latest metal markets news and price moves to start the North American day on Wednesday November 7.Base metals on the London Metal Exchange pushed higher during morning trading, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm...Read More
Good morning from Fastmarkets MB's offices in Asia as we bring you the latest news and pricing stories on Wednesday November 7.Base metals prices on the Shanghai Futures Exchange were down across the board during Asian trading hours, as skepticism once again washed over previous positive sentiment brought by Chinese President Xi Jinping's promise to open the country's economy to the world.Che...Read More
Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More
Long-term contracts for cobalt hydroxide supply in 2019 have been heavily weighted toward lower payables year on year, with discussions centered around increasing availability of intermediates. But the extent of the likely hydroxide surplus' impact on next year's metal market is less clear. Since last year's mating season, Glencore has announced the restart of production at Katanga in the Dem...Read More
Aluminium and nickel prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories fail to boost the metal's price. The three-month aluminium price reached an intraday high of $1,993.50 per tonne and remains the top performer. More than 11,900 lots changed hands by the close, more than copper's 11,700 lots.The three-month nickel reached an intraday...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
Base metals on the London Metal Exchange pushed higher during morning trading on Wednesday November 7, supported by a strong bounce in global equity markets, while the US dollar index lost ground after gains by the Democrats in the US midterm elections. Overnight, US midterm election results indicated a majority win for the Democrats in the House of Representatives, with US president Trump's admin...Read More
An overview of the minor metals markets and the reasons for any price moves.Read More
European prices for mesh-quality wire rod were flat across the Northern and Southern parts of the continent on Wednesday November 7, with market participants becoming increasingly concerned over the state of the EU's import quotas.Fastmarkets' weekly domestic price assessments for mesh-quality wire rod in both Southern and Northern Europe were ?,?535-560 ($611-639) per tonne delivered on Wednesday...Read More
Chris Wibbelman has joined warehouse and logistics firm Istim Metals as its president, based in Detroit. He will report into Istim Metals chief executive officer Michael Whelan and will be responsible for global strategy and development. The move reunites Wibbelman with Michael and Bill Whelan, with the latter being the co-founder of warehousing and...Read More
The tin premium in Europe softened from its highest level since January 2017 due to a market shift to longer-term supply solutions despite remaining elevated on Indonesian supply concerns, while both US and Chinese premiums held ground on steady spot business and sufficient supply. European premiums ease while market finds supply solutions US participants look to 2019 contracts China'...Read More
Fasmarkets' fob Australia alumina index declined for the eighth trading day in a row on Wednesday October 7, falling back to levels not seen since before Hydro declared force majeure at the Alunorte refinery in Brazil in April. The benchmark daily fob Australia alumina index was calculated at $428.75 per tonne on Wednesday, down from $430 per tonne on Tuesday and 8.98% lower week on week from...Read More
The results of the mid-term elections to the United States Congress may have a palpable effect on aluminium prices globally, although what that effect may be was not immediately clear.As of 8am US Eastern Standard Time on Wednesday November 7, the Democratic Party had won 219 seats in the government's lower House of Representatives, achieving a majority for their party for the first time since 201...Read More
Comex copper prices inched higher during morning trading in the US on Wednesday November 7 with a persistently softer dollar lending support amid a lack of other market catalysts. The copper price for December settlement on the Comex division of the New York Mercantile Exchange inched up 0.75 cents to $2.74 per lb. "In the broader macroeconomic environment, downside price risks are likely...Read More
The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house. European zinc premium rises from 8-year low. Long term zinc and lead contract talks i...Read More
The Lead REACH Consortium has signed a co-operation deal with the European Chemicals Agency (ECHA), designed to speed up and improve the information available on registered substances and allow regulators to make faster, better-informed decisions.The agreement comes as the lead industry waits to see whether four chemical compounds that are irreplaceable in the production of lead batteries will be...Read More
The latest news and price moves to start the Asian day on Thursday November 8.Aluminium prices ended higher on the London Metal Exchange on Wednesday November 7 but a 10-year low in zinc inventories failed to boost the metal's price. Read more in our live futures report.Here are how prices looked at the close of trading.The latest round of sanctions imposed by the United States on November 5...Read More