China's stainless steel prices increased in the week ended Wednesday March 23 on steady domestic demand, though export activity was down amid concerns over a possible reduction of the country's export tax rebate.Nickel prices picked up slightly, which gave additional support to stainless steel prices.The three-month nickel contract on the London Metal Exchange ended the official trading session on...Read More
The United States International Trade Commission has found evidence of injury to the domestic market arising from imports of silicon from Kazakhstan, Iceland and Bosnia & Herzegovina, it announced on Wednesday March 24.The decision meant that a conclusion was in sight in this much-anticipated silicon metal trade case, which has involved some of the highest duties ever seen by the industry.The ITC...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.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...Read More
Cobalt buyers have continued to sit back from the spot market this week, triggering lower offers and further profit-taking after strong price gains over January and February. Fastmarkets' price assessment for cobalt standard grade, in-whs Rotterdam was $23.25-24.15 per lb on Wednesday March 24, widening downward by $0.25 from $23.50-24.15 per lb a day earlier.Similarly, the price assessment for co...Read More
U.S. equity index futures were higher this morning. S&P 500 futures were up 5 points in pre-opening trade. Index futures were virtually unchanged following release of U.S. economic news at 8:30 AM EDT. Consensus for February Personal Income was a drop of 7.0% versus a revised gain of 10.1% in January. Actual was a drop of 7.1%. Consensus for February Personal Spending was a drop of 0.7% versus...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday March 24.Please click...Read More
The London Metal Exchange tin price was down 2.3% at the close on Wednesday March 24, while aluminium and nickel recovered some ground lost on Tuesday despite a high US dollar index. Tin's three-month price fell to $25,315 per tonne, its lowest closing price since March 16, wiping out the gains it has made since then. The metal's closing price was at $25,9010 per tonne on Tuesday. This comes agai...Read More
The San Gerardo open-pit zinc-lead mine in Peru, part of the Atacocha plant, has resumed activities after 20 days of downtime because of community demonstrations that were blocking the road to the facilities, Brazilian base metals producer Nexa Resources said on Tuesday March 23.The ramp-up to full production was expected to take 3-5 days, the company added. The full effect of the temporary halt w...Read More
Minera Los Pelambres, the copper mine in Chile operated by Antofagasta, has reached a new labor deal with the trade union representing its employees following a period of government-mediated negotiations, the company said on Tuesday March 23.The new agreement will be valid for 36 months, and includes improvements in benefits and operational practices, as well as a bonus for agreeing the deal, the...Read More
Slow trading activity amid poor demand pressured China's spot ferro-chrome prices down in the week to Tuesday March 24, with weakened sentiment clouding the near-term outlook with signs of easing supply tightness against a falling UG2 chrome ore market, sources said.Fastmarkets' assessment of the ferro-chrome spot 6-8% C, basis 50% Cr, ddp China price moved down by 200 yuan ($30.69) to 8,500-8,700...Read More
Here are five Fastmarkets stories you might have missed on Wednesday March 24 that are worth another look.Total crude steel output across 64 major producer countries was 150.2 million tonnes in February 2021, down by 8% month on month but up by 4% from February 2020, the World Steel Association...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford and...Read More
Turkish steel mills remained absent from the deep-sea scrap import market on Wednesday March 24, due to the slump in the value of the lira and weak steel demand, market participants told Fastmarkets.The Turkish lira weakened sharply at the beginning of the week following the surprise decision by president Recep Tayyip Erdogan to sack central bank chief Naci Agbal and appoint a finance specialist,...Read More
Japanese steel scrap suppliers are limiting the volume of material they are offering to the market, in the expectation of a short-term recovery in prices, sources told Fastmarkets on Wednesday March 24."The supply side is stopping new offers and they feel the market will not decrease anymore," a Japanese steel scrap trader said.A second trading source added: "The Japanese domestic scrap market has...Read More
The trading stalemate in the Chinese ferrous scrap import market has remained over the past day, with buyers keeping their distance from purchasing amid limited offers from sellers.Fastmarkets' price assessment for steel scrap, heavy recycled steel materials, cfr China was $460-470 per tonne on Wednesday March 24, unchanged from a day earlier.Major Chinese steel mills have not shown firm interest...Read More
The San Gerardo open-pit zinc-lead mine in Peru, part of the Atacocha plant, has resumed activities after 20 days of downtime because of community demonstrations that were blocking the road to the facilities, Brazilian base metals producer Nexa Resources said on Tuesday March 23.The ramp-up to full production was expected to take 3-5 days, the company added. The full effect of the temporary halt w...Read More
Base metals prices on the London Metal Exchange were mixed this morning, Wednesday March 24, while those on the Shanghai Futures Exchange were for the most part weaker, following Tuesday's weakness on the LME.Asian-Pacific equities were generally nervous this morning, and low US treasury yields suggest risk-offStronger US dollar may prove to be a headwind for metals Base metalsLME three-month base...Read More
Domestic prices for heavy steel plate increased over the week to Wednesday March 24, supported by demand recovery and high costs for steel slab, sources have told Fastmarkets.Fastmarkets' weekly price assessment for steel domestic plate, 8-40mm, exw Southern Europe, was ?,?700-720 ($832-856) per tonne on March 24, up by ?,?35-40 per tonne from ?,?665-680 per tonne a week earlier.The assessment was...Read More