Key data from Fastmarkets' pricing session in Europe on Wednesday January 27.Key drivers Indium found significant support with higher offers - close to $200 per tonne - heard globally while a robust futures market sustained the uptrend and sparked traders' interest. The price has now reached its highest since April 2019. Some producers were reportedly sold out, with producers in Japan and Canada&n...Read More
The European titanium scrap market, which was steady in the week to Wednesday January 27, looks set to resume its price rally that started in September 2020 in the near term, market sources told Fastmarkets. Fastmarkets' titanium scrap turnings, unprocessed type 90/6/4, 0.5% Sn max, cif Europe price stood at $1.60-1.75 per lb in the latest assessment on Wednesday, while titanium scrap tu...Read More
China's domestic stainless steel market continued to strengthen over the past week on tight supply and high prices for raw materials.DomesticStainless steel cold-rolled coil 2mm grade 304 domestic (Wuxi): 15,100-15,900 yuan ($2,332-2,456) per tonne, up by 200 yuan per tonne from a week earlier. A shortage of stainless hot-rolled coil - the upstream product for stainless CRC - sent prices for the f...Read More
The United States sold more copper scrap to China for the first 11 months of 2020, compared with the year before, despite a punitive tariff imposed from Beijing drastically disrupting the scrap trade flow since 2018.US copper scrap exports to China amounted to 102,145 tonnes from January-November 2020, up 20% year on year, the Institute of Scrap Recycling Industries (ISRI) said on January 26. This...Read More
Walmart (WMT), a Dow Jones Industrial Average stock moved below $142.30 setting an intermediate downtrend. Moderna (MRNA), a NASDAQ 100 stock moved above $178.50 to an all-time high extending an intermediate uptrend. Lithium ETN (LIT) moved below $67.56 completing a short term double top pattern. Pre-opening Comments for Friday January 29thU.S. equity index futures were lower this morning. S&...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 27 that are worth another look.Global crude steel output fell by 0.9% year on year to 1.86 billion tonnes in 2020, with an increase in China unable to offset declines across most other major steelmaking nations, the World Steel Association...Read More
A summary of London Metal Exchange warrant premiums from across the globe for the week to Wednesday January 27.Please click...Read More
Nickel briquette premiums in Shanghai and the United States rose in the week to Tuesday January 26, with domestic demand in both regions markedly improving. European premiums remained static, but buying interest was also notably better. Improved arbitrage, demand support Shanghai briquette premiumReduced supply, higher offers bolster US briquettesEuropean sellers look to improving spot market amid...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 27 that are worth another look.Global crude steel output fell by 0.9% year on year to 1.86 billion tonnes in 2020, with an increase in China unable to offset declines across most other major steelmaking nations, the World Steel Association...Read More
Ferro-chrome prices in China's domestic and import markets soared again in the week to Tuesday January 26, due to restricted production in the north of the country and a leap in tender values.On January 21, Taiyuan Iron & Steel (Tisco) set its tender price for February-delivery high-carbon ferro-chrome at 8,000 yuan ($1,235) per tonne, up by 2,200 yuan per tonne (38%) from 5,800 yuan per tonne off...Read More
An overview of the consumer electronics markets and their latest price moves.Ewa Manthey, Dalila Ouerghi and...Read More
An overview of the specialty steel raw materials markets in Europe and their latest price moves.Charlotte Radford, Cristina Belda...Read More
Here are five Fastmarkets stories you might have missed on Wednesday January 27 that are worth another look.Global crude steel output fell by 0.9% year on year to 1.86 billion tonnes in 2020, with an increase in China unable to offset declines across most other major steelmaking nations, the World Steel Association...Read More
Turkish steel scrap prices fell sharply again as expected on Wednesday January 27, after a newbooking from the UK, sources told Fastmarkets.A steel mill in the Izmir region booked a UK cargo, comprising 9,500 tonnes of HMS 1&2 (80:20) at $408 per tonne and 14,000 tonnes of shredded at $419 per tonne cfr late on Tuesday January 26.The most recent previous booking to Turkey was from the Ba...Read More
US steel scrap sellers have been locked in negotiations for sales to China this week amid a continued drop in global prices, industry sources told Fastmarkets. At least three major scrapyards in the US have been offering bulk shredded and plate & structural (P&S) scrap to China in the spot market this week, sources said. A US trading source told Fastmarkets that Chinese traders have been asking fo...Read More
Base metals prices on the London Metal Exchange and Shanghai Futures Exchange were for the most part weaker while the market waits for direction from the US Federal Reserve when the Federal Open Market Committee (FOMC) concludes its meeting this evening. Zinc prices extend lower after Tuesday's rise in LME stocks Base metals Three-month base metals prices on the LME were mostly down this morning;...Read More
The European Commission (EC) has approved, under EU state aid rules, a second research and innovation project in the battery space, unlocking ?,?2.9 billion ($3.52 billion) of state funds provided by a dozen European states to support research and innovation in the battery supply chain, it said on Tuesday January 26.This is the second Important Project of Common European Interest (IPCEI) approved...Read More
European buyers of hot-rolled coil have been holding back from making new deals due to the risks related to restocking ahead of an expected price decrease, sources told Fastmarkets on Wednesday January 27.Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe, at ?,?708.75 ($860.82) per tonne on Wednesday, down by ?,?2.25 per tonne from ?,?711.00 per tonne on J...Read More
The latest forecasts from Fastmarkets' team of analysts is ready to view.It was only a couple of months ago that contract buyers of coated steels - represented in large part by market participants from the automotive sector - were grudgingly resigned to paying as much as ?,?100 ($120) per tonne more for their contracted shipments in 2021 compared with in 2020. Increases in contract prices of...Read More
Prices for steel hollow sections in Europe moved upward this week, even as feedstock costs begin to fall, sources told Fastmarkets on Wednesday January 27.Fastmarkets' price assessment for steel sections (medium), domestic, delivered Northern Europe, was ?,?850-870 ($1,032-1,057) per tonne on Wednesday, up from ?,?820-850 per tonne one week earlier.In recent weeks, the price of the feedstock mater...Read More