Base metals prices on the Shanghai Futures Exchange were for the most part stronger this morning, Friday April 16, supported by robust economic data, while the base metals on the London Metal Exchange were consolidating after yesterday’s strength, which followed strong US data.* China’s gross domestic product (GDP) climbed by 18.3% year on year in Q1* US treasury yields dropped, lifting...Read More
Utilities SPDRs (XLU) moved above $66.86 extending an intermediate uptrend. Palladium ETN (PALL) moved above $257.91 extending an intermediate uptrend.Pre-opening Comments for Friday April 16thU.S. equity index futures were higher this morning. S&P 500 futures were up 8 points in pre-opening trade.Index futures were virtually unchanged following release of the March U.S. Housing Start report a...Read More
(Corrects paragraph 2 to show TechMet is an investor inLi-Cycle, but does not have a controlling stake, aftercorrection from company) April 15 (Reuters) - Mining investment firm TechMet, whichcounts the U.S. government as its largest investor, said onThursday it had closed its second round of funding at $120million, roughly 50% higher than initially expected. The firm, which is an investor in batt...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 14 that are worth another look.Steel producer Feralpi Group has improved the energy efficiency of its Brescia plant in Italy with help from energy company Enel X, reducing its carbon emissions to help meet its sustainability targets, the company said on Tuesday...Read More
The nickel markets were bullish in China, somewhat bearish in Europe, and mixed in the United States in the week to Tuesday April 13.A sudden opening of the arbitrage window on Monday stirred China's nickel marketTalk of higher briquette premiums in the US has yet to translate to dealsEuropean trade curbed by pandemic lockdowns, auto industry curtailment.China's nickel premiums up amid good arbitr...Read More
Aluminium's futures price reached yet another year-to-date high on the London Metal Exchange on Wednesday April 14, while tin returned above the $26,000 per tonne mark and copper bounced up by 2% on a day when most metal prices were again boosted by a lower US dollar.Aluminium's price peaked at $2,329 per tonne during trading on Wednesday, and closed up by 1.3% at $2,323.50 per tonne, from Tuesday...Read More
Chile's copper miners face the biggest set of labor negotiations in years, but with prices expected to maintain current highs, how high is the risk to output disruptions? Fastmarkets investigates.More than 40 labor negotiations are due to take place this year at mines in Chile, the world's leading copper producer, against a backdrop of almost decade-high metal prices and elections set to be hotly...Read More
The seaborne markets for chrome ore and alloy in China fell during the week ended Tuesday April 13, with lower offer prices sparking UG2 chrome ore liquidity and weak portside prices softening the charge chrome market. Fastmarkets' chrome ore South Africa UG2 concentrates index basis 42%, cif China fell by $8 to $150 per tonne on April 13, down by 5.06% from $158 per tonne one week ago. Lower...Read More
China's imports of copper concentrate reached 2.1 million tonnes in March to set a new highest monthly record, customs data out on Tuesday April 13 shows. "The robust imports in March came after weaker shipment [volumes] in February, presumably, due to the fact that high sea waves at Chilean ports caused a delay. The higher concentrate imports came amid rising smelter production that requires raw...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Dalila Ouerghi...Read More
Turkish steel producers continued to hold back from deep-sea scrap bookings because of limited sales of finished long steel, sources told Fastmarkets on Wednesday April 14.The most recent cargo sale was at the end of last week, when a steel mill in the Iskenderun region paid an average price of $436 per tonne cfr for 35,000 tonnes of HMS 1&2 (95:5) and 15,000 tonnes of shredded.The deal caused a $...Read More
British steel scrap suppliers have mostly settled monthly delivery prices for steel scrap to domestic consumers in April unchanged compared with market levels the month before, amid persistent supply tightness, trade sources said this week.The move follows initial signs around the turn of the month of a potential fall of ?20 ($27) per tonne due to a combination of reasons: downward pressure on Eu...Read More
China's steel scrap import prices narrowed upward on Wednesday April 14, with rises in finished steel prices driving momentum in the market.The country's steel mills continued to raise their bids for imports of HRS101-grade scrap, with at least one bid heard at $490-495 per tonne cfr eastern China.The highest bid from northeast China reached $500 per tonne cfr China on Wednesday, which sources sai...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were mixed this morning, Wednesday April 14, and broader markets were pleased US consumer prices did not shock to the upside, but markets are likely to remain wary in case corporate earnings do not live up to high expectations.Tuesday's US consumer price index (CPI) reading climbed by 0.6% in March, slightly higher than...Read More
Here are five Fastmarkets stories you might have missed on Wednesday April 14 that are worth another look.Steel producer Feralpi Group has improved the energy efficiency of its Brescia plant in Italy with help from energy company Enel X, reducing its carbon emissions to help meet its sustainability targets, the company said on Tuesday...Read More
Domestic prices for hot-rolled coil continued to rise across Europe on Wednesday April 14 because demand exceeded supply, sources told Fastmarkets.The number of deals was limited, however, because producers preferred to trade smaller volumes and returned to the market only with short-validity offers. Such tactics, combined with low stocks and good demand from end-consumers, supported an uptrend in...Read More
Turkish steelmaker Tosyali Iron and Steel has ordered a second quantum electric-arc furnace (EAF) from Primetals Technologies, Primetals said.The quantum EAF will produce 2 million tonnes per year of liquid steel and can be operated with a mixture of scrap or varying composition of hot briquetted iron (HBI), Primetals said.Tosyali ordered its first quantum EAF in December 2020, together with a two...Read More
Domestic prices for steel wire rod in Southern Europe were largely unchanged over the past week, although producers were reported to be mulling an increase for May, Fastmarkets heard on Wednesday April 14.Fastmarkets' weekly price assessment for steel wire rod (mesh-quality), domestic, delivered Southern Europe, was ?,?660-670 ($787-798) per tonne on Wednesday, unchanged since March 31.The assessm...Read More
Prices for steel hollow sections in Europe jumped on Wednesday April 14 due to mills passing on soaring feedstock costs, sources told Fastmarkets.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe was ?,?950-1,050 ($1132- 1,251)per tonne on April 14, up from ?,?920-950 per tonne one week previous.The ongoing shortage of hot-rolled coil (HRC) - the feedst...Read More
Steel rebar prices is the north of Europe were flat in the week to Wednesday April 14, despite subdued buying activity in some countries and customers pushing for discounts, Fastmarkets heard.Fastmarkets' weekly price assessment for steel reinforcing bar (rebar), domestic, delivered Northern Europe remained at ?,?650-670 ($775-798) per tonne on April 14, unchanged week on week.After a splash of bu...Read More