A major blockage of the Suez Canal by a large container ship, leading to a vessel traffic jam, is adding to disruption in the global bulk freight markets.The Ever Given, a large container ship flagged in Panama and operated by Taiwanese firm Evergreen, was blown off-course by bad weather late on Tuesday March 23.The vessel is still blocking traffic travelling in both directions in the southern par...Read More
Fastmarkets' US lead premium reached its highest since 2012 due to supply tightness, while the zinc premium went up in Southeast Asia over freight cost hikes.Concerns voiced over the Chinese refined zinc production amid power cuts in major producing areas and a low zinc concentrates treatment charges (TC) while premiums are unchanged for zinc ingots.On-warrant zinc stocks in New Orleans' LME sheds...Read More
Tin market participants say they saw the record-breaking squeeze coming, but in pandemic-time trading, how does it get back to normal?It was at the beginning of the year when the phones started to ring. Hedge funds, eager to hitch a ride on the steadily rising price of tin, were in the market to buy physical stocks of the valuable metal that is predominately used in electronics.Solder makers and s...Read More
Aluminium recovered by 1% during morning trading on the London Metal Exchange on Wednesday March 24 after Tuesday's sell-off saw most of the base metals complex fall by more than 1%.The three-month aluminium price was at $2,243 per tonne at 9am on Wednesday, following a 2.3% drop - the largest in the complex - on Tuesday to $2,219.50 per tonne. Tuesday's slump on the LME was prompted by rumors out...Read More
China's domestic hot-rolled coil prices held steady on Wednesday March 24, with support emerging from a pick-up in trading activity, sources told Fastmarkets.DomesticEastern China (Shanghai): 5,050-5,080 yuan ($776-780) per tonne, unchangedA Shanghai-based trader noted that trading was particularly active in the afternoon when HRC futures registered strong gains.While spot prices were largely stab...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
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford and...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey and Charlotte...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,...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
The Cobalt sulfate 20.5% Co basis, exw China, yuan/tonne 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 sulfate...Read More
Key data from Fastmarkets' pricing session in Europe on Wednesday March 24. Key drivers Ferro-titanium spot market activity was minimal while negotiations begin for second-quarter supply.Steelmakers in Europe issue almost 600 tonnes of bids for ferro-titanium to be delivered between April and June, according to alloy suppliers. More tenders expected in the coming days, with some seen agreed befor...Read More
Minor metals prices have rebounded in the first quarter of 2021 after a year when the Covid-19 pandemic stifled trade and demand visibility. Fastmarkets highlights the key drivers behind the recent price moves. Strong demand from China China's economy began to restart last year far ahead of the rest of the world, which was still feeling the economic impact of Covid-19 shutdowns. Stimulus measures...Read More
Nike dropped below $129.19 to $127.32 extending an intermediate downtrend after China announced a sales boycott of its products.Darden Restaurants advanced $3.84 to $137.77 after announcing higher than consensus fiscal third quarter sales and earnings. The company also announced an additional share purchase program and offered positive fiscal fourth quarter sales and earnings guidance. Rite Aid pl...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 23 that are worth another look.China released its 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 on March 12 following the annual meetings of the National People's Congress...Read More
An imbalance between supply and demand and the increases in freight costs boosted global aluminium premiums in the week to Tuesday March 23, with the Rotterdam duty-unpaid price at a multi-year high and the United States Midwest premium reaching its highest since October 2018.Swift increase in Rotterdam amid bullish spot marketUS Midwest continues to rise on tight supplySouth Korea premium chases...Read More
A summary of base metals premiums from across the globe for the week to Tuesday March 23.Please click...Read More
Here are five Fastmarkets stories you might have missed on Tuesday March 23 that are worth another look.China released its 14th Five-Year Plan (2021-2025) for National Economic and Social Development and the Long-Range Objectives Through the Year 2035 on March 12 following the annual meetings of the National People's Congress...Read More
An overview of the chrome ore and alloy markets on Tuesday March 23 and their latest price moves.Europe The announcement of a 32% increase in the European ferro-chrome benchmark for the second quarter is supporting ferro-chrome prices.Prices in the high-carbon ferro-chrome markets narrowed upward amid ongoing tight supplies, which resulted in higher offer prices.The softening of China's domestic f...Read More