Base metals prices on the London Metal Exchange were up across the board this morning, Tuesday August 10, this after a day of weakness on Monday – once again it looks like dips are being seen as a buying opportunity.Markets are focused on when central banks will start to tighten monetary policy, and to what degree the Delta variant of Covid-19 will slow the reflation tradeBase metalsLME three...Read More
U.S. equity index futures were mixed this morning. S&P 500 futures were unchanged in pre-opening trade. U.S. equity index futures were virtually unchanged following release of the U.S. Second Quarter Productivity Report at 8:30 AM EDT. Consensus was an increase of 3.2% versus a gain of 5.4% in the first quarter. Actual was an increase of 2.3%.Kansas City Southern gained $12.05 to $282.46 on ex...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Here are five Fastmarkets stories you might have missed on Friday August 6 that are worth another look.German industrial group Thyssenkrupp has agreed the sale of its infrastructure business to compatriot company FMC Beteiligungs KG, an entrepreneur-led investment firm, Thyssenkrupp said on Thursday August 5.Spot differentials for low-carbon...Read More
Stronger-than-expected United States employment figures on Friday August 6 turned the dollar higher, which weighed on prices, with most base metals weaker this morning, Monday August 9, but gold and silver underwent a ‘flash crash’ at the start of trading in Asia.* Signs of a stronger US recovery weighed heavily on gold and silver on Friday, which led to a chaotic start to trading this m...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade. American National Insurance is expected to open higher after Brookfield Reinsurance agreed to acquire the company at $190 per share cash. Value of the deal is $5.1 billion.Berkshire Hathaway added $2.89 to $288.52 after reporting higher than consensus second quarter earnings. Dollar Tree...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
Freight rates for bulk cargoes of steel have risen in the last week amid a global shortage of ships, and the Covid-19 resurgence in China and Southeast Asia could raise costs for cargoes even further, sources have told Fastmarkets.Bulk freight costs for steel scrap shipped from the United States East Coast to Turkey in a Supramax vessel were heard at $48 per tonne on Wednesday August 3, up from th...Read More
The US Dollar Index was at its highest since July 27 and was weighing on London Metal Exchange base-metal prices in the afternoon of Friday August 6, with all metals ending the week below where they were on Monday.The US index touched a week-and-a-half high of 92.84 on Friday afternoon, following the release of positive employment data in the country.There were 943,000 jobs added to the US economy...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 6.Susan Zou, Yingchi Yang and...Read More
Spot differentials for low-carbon aluminium in Europe were stable during July, but some deals and offers for 2022 supply were reported well above current spot levels.Fastmarkets assessed the aluminium low-carbon differential value-added product (VAP), Europe at $10-15 per tonne Friday August 6, unchanged from the previous assessment on July 2.Offers for 2022 VAPs were reported between $20 and abov...Read More
An overview of the new energy materials markets and their price moves in the week to Friday August 6.Susan Zou, Yingchi Yang and...Read More
Spot buying appetite from Chinese copper smelters remained low in the week to Friday August 6, with standard tonnages being traded in the mid to high $50s per tonne range.Deals for blended cargoes of lower-grade copper concentrate were reported in the low $60s per tonne. Regional power restrictions in China have led to copper smelters bringing forward their maintenance plans which created reduced...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Janie Davies, Dalila...Read More