Quiet spot trade, apart from in China's nickel briquette market, left nickel premiums flat worldwide in the week to Tuesday May 25, sources told Fastmarkets.Poor arbitrage offsets optimism in China's nickel market over Glencore's briquette listing on SHFE.US premiums hold although higher briquette premiums become more common.European nickel stocks subside but premiums are unmoved.Full-plate premiu...Read More
Base metals prices on the LME and SHFE were mixed - albeit with a slight upward bias - this morning, Wednesday May 26. But the rebounds seem half-hearted, with some erring on the side of caution judging by the lower treasury yields and stronger gold price. While the United States Federal Reserve generally seems to be remaining dovish, the vice chair, Richard Clarida, spoke of a "soft landing"........Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Read More
The Cobalt standard grade, in-whs Rotterdam, $/lb trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt standard grade, in-whs Rotterdam, $/lb at 20.00-20.50 on Wednesday May...Read More
The Cobalt alloy grade, in-whs Rotterdam, $/lbtrade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt...Read More
The Cobalt hydroxide payable indicator, min 30% Co, cif China, % payable of Fastmarkets' standard-grade cobalt price (low-end) trade log including business, bids and offers reported to Fastmarkets.Fastmarkets publishes trades logs for its key price assessments and indices to bring more transparencyinto the markets it covers and the pricing process it applies.Fastmarkets assessed Cobalt hydroxide p...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday May 26. Key driversEuropean ferro-titanium suppliers dropped their offer prices and concluded deals at lower numbers, both on a spot and longer-term basis.Most domestic third-quarter delivery settlements to steelmakers have yet to be negotiated, with the full return of consumers for their...Read More
The UK government has announced ?166 million funding to drive forward development of green technology and development as part of its Green Industrial Revolution, with UK steelmakers set to receive cash.The funding package will benefit energy-intensive businesses such as steelmaking and manufacturing and falls under the UK Prime Minister's 10 Point Plan for a green revolution, which includes remov...Read More
Market participants expect long-term support for aluminium scrap prices in Europe following growing demand for low-carbon aluminium. According to the European Union's taxonomy for sustainable activities, which serves as a guide to direct investment for sustainable projects, there are fewer criteria to be met for the manufacturing of secondary aluminium to be considered a sustainable project. "All...Read More
Prices for steel hollow sections in Europe increased again on Wednesday May 26, with mills continuing to cite higher feedstock costs for raised prices, sources told Fastmarkets. Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?1,250-1,320 ($1,530-1,616) per tonne on May 26, up from ?,?1,220-1,250 per tonne on May 19. Fastmarkets' weekly pri...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed during the morning of Thursday May 27, as were broader markets – are these pauses, or early signs of a stall?* More US Federal Open Market Committee (FOMC) members seem to be getting off the fence about talking about tapering* Chinese yuan continues to strengthen, is China using the yuan to reduce inflati...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 8 points in pre-opening trade.U.S. equity index futures were quiet prior to release of economic news at 8:30 AM EDT. Consensus for April Durable Goods Orders was an increase of 0.7% versus a gain of 1.0% in March. Excluding Transportation Orders, consensus for April Durable Goods Orders was an increase of 0.7% versus...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 25 that are worth another look.Exports of iron ore from India's east coast could face minor disruptions after the key port of Paradip in the state of Odisha suspended operations on May 25...Read More
Aluminium premiums remained high across the globe in the week ended Tuesday May 25 due to tight supply and high logistics costs.Rotterdam premiums well supportedUS Midwest premium remains at all-time highOpen arb pushes Shanghai premiums upwardMJP focused on third quarterLME contango supports Rotterdam premiumsAluminium premiums in Europe remained well supported this week with offer levels continu...Read More
The United States is "deep in conversations" to determine how the federal government can support the growth of electric vehicles (EVs), the country's Secretary of Transportation said.The country's goal of reducing carbon emissions by at least 50% by 2030 is helping to drive this collaboration, according to Secretary Pete Buttigieg."We're deep in conversations about how to support the EV revolution...Read More
A summary of base metal premiums from across the globe for the week to Tuesday May 25.Please click...Read More
Key data from the pricing sessions in Asia, Europe and the United States over the week to Tuesday May 25.China UG2 sellers raised their offer prices to cover higher production costs and the appreciation of the rand, while most buyers took a wait-and-see approach ahead of the announcement of June's ferro-chrome tender price. Domestic spot ferro-chrome prices ticked up, while participants' near-term...Read More
Chilean copper producer Codelco has agreed a 36-month labor deal with unions representing management and employees at its headquarters in Santiago the state-run company said on Monday May 24.The world's largest copper producing company had offered no pay rises, but a bonus of 1.5 million Chilean pesos ($2,068) for those agreeing to the labor deal."The successful negotiation adds to [other] deals r...Read More
Here are five Fastmarkets stories you might have missed on Tuesday May 25 that are worth another look.Exports of iron ore from India's east coast could face minor disruptions after the key port of Paradip in the state of Odisha suspended operations on May 25...Read More
The United States is "deep in conversations" to determine how the federal government can support the growth of electric vehicles (EVs), the country's Secretary of Transportation said.The country's goal of reducing carbon emissions by at least 50% by 2030 is helping to drive this collaboration, according to Secretary Pete Buttigieg."We're deep in conversations about how to support the EV revolution...Read More