Base metals' prices on the London Metal Exchange recovered on Tuesday May 11 morning, after falling for the first time since the start of the month on Monday amid a rise in inflation fears for United States equities, which meant the Nasdaq index fell to its lowest since March 31."Record high copper, steel and iron ore prices, among other commodities, stoked inflation fears and pushed Wall Street l...Read More
China's domestic rebar prices stopped rising on Tuesday May 11 due to rain sapping demand a day after the market surged, due participants still have a bullish outlook. DomesticEastern China (Shanghai): 6,000-6,030 yuan ($934-939) per tonne, unchanged Rain affect parts of eastern China and disrupted construction activity and stalled the transportation of rebar, which resulted in a drop in trading c...Read More
The so-called "Suez Armada" of vessels that were delayed by the unintentional blockage of the Suez Canal has now been processed by the Port of Rotterdam, but the port was still "extremely" busy and there were challenges ahead for the shipping sector, speakers said during the Supply Chain Talks digital event on Wednesday May 5.The blockage of the waterway between March 23 and 29 created havoc for g...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 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,...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...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...Read More
European manganese flake prices climbed above $3,000 per tonne in the week ended Friday May 7 amid tightening prompt inventories and continuing shipping delays.Fastmarkets' price assessment for manganese, 99.7% electrolytic manganese flake, in-whs Rotterdam, rose by 5.3% to $2,900-3,100 per tonne on Friday, up from the mid-week assessment of $2,800-2,900 per tonne. The market was now trading at it...Read More
Most stainless steel sheet prices in the United States rose in May, driven by higher alloy surcharges, while tightening supply has prompted many buyers to seek out new sources to meet their needs, according to market participants.Fastmarkets' monthly price assessment for stainless steel 304 cold-rolled sheet, fob mill US was at $160 per hundredweight ($3,200 per short ton) on Monday May 10, up by...Read More
The European manganese alloys markets extended their rally over the week ended Friday May 7, marking a general run higher in prices since March, trade sources told Fastmarkets.This came against domestic production cuts, strengthening demand from steelmakers and more expensive replacement costs for alloys from overseas, which combined to elicit short-covering.Industry sources reported an increase i...Read More
European secondary aluminium ingot prices have started to move up after an extended period of volatility, following increased demand from the domestic market and for exports to Asia.A recent surge in demand from China has pushed European ingot prices up for the first time in 10 weeks. Fastmarkets' price assessment for aluminium pressure diecasting ingot DIN226/A380, delivered Europe was ?,?1,860-1...Read More
Turkish domestic scrap prices increased further during the week to Monday May 10, in line with rising imported scrap and export finished steel values, market participants told Fastmarkets.Turkish deep-sea scrap import prices have risen in the most recent bookings for June shipments.Last week, one steel mill in the Marmara region booked a Baltic Sea cargo late on Thursday at $488 per tonne for HMS...Read More
Prices for steel scrap imported into China rose on Monday May 10 amid a surge in downstream steel product prices in the country.Futures trading on Monday morning was at a frenetic pace which was repeated by physical spot prices later in the day, with the futures contracts for hot-rolled coil (HRC), rebar and iron ore all hitting their maximum daily increase limits.Domestic rebar prices jumped on M...Read More
Stable demand from steel fabricators and stockists, and higher raw material ferrous scrap prices boosted Singapore's rebar import market during the week to Monday May 10, market sources said.One transaction was heard concluded at $715 per tonne cfr Singapore on a theoretical weight basis for an Indian rebar cargo, and another transaction was heard at $730 per tonne cfr Singapore on a theoretical w...Read More
Export offers for Chinese rebar and wire rod increased sharply over the past week amid domestic gains in China, though no buyers took them up.Fastmarkets' steel reinforcing bar (rebar) index export, fob China main port was at $1,020 per tonne on Tuesday May 11, up by $192.50 per tonne from $827.50 per tonne on April 27.This is the highest that export prices for Chinese rebar have been since August...Read More
Base metals prices on the London Metal Exchange were little changed and consolidating this morning, Wednesday May 12, this after some choppy trading in recent days.* Traders wary of contagion from weaker equity markets* Asia-Pacific equities mainly weaker, especially in Taiwan* Markets focused on Wednesday’s Consumer Price Index (CPI) data from United StatesBase metalsLME three-month base met...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 39 points in pre-opening trade.Equity index futures moved lower following release of the April Consumer Price Index at 8:30 AM EDT. Consensus was an increase of 0.2% versus a gain of 0.6% in March. Actual was an increase of 0.8% Excluding food and energy, consensus was an increase of 0.4% versus a gain of 0.7% in Marc...Read More
Here are five Fastmarkets stories you might have missed on Monday May 10 that are worth another look.European buyers have purchased substantial volumes of cold-rolled coil from China for the first time in about five years, despite the product being subject to anti-dumping tariffs, sources told Fastmarkets on May 10.Consuming...Read More
Nickel's price on the London Metal Exchange was down by 2% on Monday May 10 and back to levels seen one week earlier, with base-metals prices across the board lower following an extended bullish period during which copper, aluminium and zinc reached new highs.The three-month nickel price was the most strongly affected by profit-taking on Monday, and was last seen at $17,705 per tonne, down from Fr...Read More
U.S. equity index futures were lower this morning. S&P 500 futures were down 52 points in pre-opening trade. Equity index futures followed a 2% drop by European equity indices and a 3% drop by the Nikkei Average.L Brands dropped $2.30 to $66.49 after the company announced plans to spin off its Victoria Secrets division by August.Simon Property fell $4.23 to $122.52 despite reporting higher tha...Read More