Here are five Fastmarkets stories you might have missed on Friday April 23 that are worth another look.Global aluminium manufacturer and recycler Novelis has achieved Aluminium Stewardship Initiative (ASI) Performance Standard certification at seven of its European sites, ASI reported on Thursday April 22.Brazil's...Read More
Here are five Fastmarkets stories you might have missed on Friday April 23 that are worth another look.Global aluminium manufacturer and recycler Novelis has achieved Aluminium Stewardship Initiative (ASI) Performance Standard certification at seven of its European sites, ASI reported on Thursday April 22.Brazil's...Read More
Here are five Fastmarkets stories you might have missed on Friday April 23 that are worth another look.Global aluminium manufacturer and recycler Novelis has achieved Aluminium Stewardship Initiative (ASI) Performance Standard certification at seven of its European sites, ASI reported on Thursday April 22.Brazil's...Read More
Copper led the London Metal Exchange base metals higher this morning, Monday April 26, and most of the base metals on the Shanghai Futures Exchange were up too, while the market continued to benefit from the strong purchasing managers’ index (PMI) data that was out on Friday.US markets managed to shake-off concerns about US President Joe Biden’s tax plans.Base metalsLME three-month base...Read More
MasterCard (MA), an S&P 100 stock moved above $389.04 to an all-time high extending an intermediate uptrend.Palladium ETN (PALL) moved above $273.16 to an all-time high extending a long term uptrend.Skyworks Solutions (SWKS), a NASDAQ 100 stock moved above $195.82 to an all-time high extending an intermediate uptrend.Emerson Electric (EMR), an S&P 100 stock moved above $93.38 to an all-tim...Read More
China's exports of major steel products rose significantly in March on a year-on-year basis due to the attractive prices for Chinese materials in January and February, when most March shipments were booked.For instance, exports of hot-rolled coil totaled 1.78 million tonnes last month, an increase of 92% year on year, according to Chinese customs data. Fastmarkets' price assessment for steel hot-r...Read More
Nickel's three-month price showed the biggest rise among base metals on the London Metal Exchange at the close of trading on Friday April 23, with most prices finishing the week on a positive note due to a low US Dollar Index and fund buying acitivty in the complex.The price of nickel was up by 2% to $16,395 per tonne from Thursday's 5pm price of $16,063 per tonne, after trading sideways for most...Read More
The London Metal Exchange is suspending the trading of all prompt dates from December 2021 onwards on its cash-settled alumina futures contract with immediate effect, it said on Friday April 23. The LME alumina contract was launched on March 11, 2019 and settled against Fastmarkets MB's benchmark daily fob Australia alumina index in a basket alongside CRU's alumina index. Equal weighting was...Read More
Deliverable stocks of base metals in Shanghai Futures Exchange-registered warehouses all declined in the week to Friday April 23, due to consumers trucking their cargoes out before the Labour Day holiday in China, sources said.SHFE nickel stocks totaled 8,560 tonnes this week, down by 994 tonnes or 10.4% from 9,554 tonnes last Friday, data shows.The largest outflow of nickel this week left Zhongch...Read More
An overview of the new energy materials markets and their price moves from the past week.Susan Zou and Sybil Pan...Read More
Key data from Fastmarkets' Friday April 23 pricing sessions in China, Europe, India and the United States.China The seaborne low-grade manganese ore market reversed some of its five-week downtrend with buyers showing renewed interest in material offered in line with or below port prices. Buyers confirmed fresh deals at the higher end of last week's offer spread after the cheapest offers dried up....Read More
Fastmarkets' copper concentrates treatment and refining charge (TC/RCs) index rebounded for the second consecutive week on April 23, while smelters' buying activity slowed down, sources said.Few buyers were active in the spot market this week with deals for concentrate shipped in June and July settling in the low $30s, Fastmarkets heard. Read More
The London Metal Exchange is suspending the trading of all prompt dates from December 2021 onwards on its cash-settled alumina futures contract with immediate effect, it said on Friday April 23. The LME alumina contract was launched on March 11, 2019 and settled against Fastmarkets MB's benchmark daily fob Australia alumina index in a basket alongside CRU's alumina index. Equal weighting was...Read More
An overview of the aerospace materials markets and their latest price moves.Ewa Manthey and Michael Greenfield in...Read More
Global steel scrap markets began to revive with growing downstream demand for finished steel in the week to Friday April 23. But regional prices diverged over the period, with Turkish buyers securing scrap at lower levels while Asian importers had to contend with price increases.Mills in Turkey secured cheaper European scrap to feed increased rebar exportsUnited States sales were on hold, with exp...Read More
No deals were heard to have taken place in the Turkish scrap import market on Friday April 23, with activity quiet because of the Children's Day public holiday in Turkey.A third booking from Wednesday came to light on Friday, however, which resulted in Fastmarkets' indices edging down slightly.A steel mill in the Iskenderun region booked a Baltic Sea cargo consisting of 22,000 tonnes of HMS 1&2 (8...Read More
The range for British domestic prices for grade-5C steel scrap widened in the week ended Friday April 23 on firm demand both at home and in export outlet regions, sources have told Fastmarkets.The demand for light iron scrap came from major scrap processors in the country, a steady rate of exports to key destinations such as Turkey and the Indian subcontinent, and short sea sales into Europe, they...Read More
The base metals prices on the London Metal Exchange and the Shanghai Futures Exchange were mixed this morning, Friday April 23, as were the wider markets while US President Joe Biden prepares to announce his plans on tax.Markets awaiting direction from purchasing managers' index (PMI) dataBase metalsLME three-month base metals prices were mixed, but on average were up by 0.4% this morning, with le...Read More
The lithium hydroxide price in China was firm over the week to Thursday April 22 amid tight availability, while the carbonate price softened due to the restart and ramp-up of operations in Qinghai province.Battery-grade lithium hydroxide prices remained firm in China, but the equivalent grade lithium carbonate price softened The battery-grade lithium hydroxide price in the seaborne market rose ami...Read More
European buyers of steel coil are encountering difficulties obtaining credit insurance and opening credit lines for purchases because of the rapid price rises and extended lead times in recent months, sources told Fastmarkets this week.Market participants said the situation was limiting the ability of buyers to acquire required volumes, despite strong demand from both distributors and end consumer...Read More